ArcelorMittal LU1598757687

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1. voda 30 mei 2022 07:47

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   JSW Steel Reports Historic Performance for 2021-22
   
   Strategic Research Institute
   Published on :
   30 May, 2022, 6:33 am
   
   India’s largest steel maker JSW Steel Limited has registered its highest ever crude steel production at 17.62 million tonnes in FY 2021-22 and achieved 95% of its sales & production guidance of 17.4 million tonnes and 18.5 million tonnes respectively. Sales of value added and special products accounted for 60% of total sales volumes for the year with branded products sales accounting for 47% of total retail sales. JSW Steel, excluding BPSL, exported 4.57 million tonnes of steel in 2021-22, an increase of 8% YoY and exports accounted for 28% of total sales
   
   ------------------------------------------
   
   Standalone Performance – 2021-22
   
   Crude Steel production: 17.62 million tonnes, up by 17% YoY
   
   Saleable Steel sales: 16.52 million tonnes, up by 11% YoY
   
   Revenue from operations: INR 118,820 crores, up by 68% YoY
   
   Operating EBITDA: INR 31,868 crores, up by 65% YoY
   
   Net profit after tax: INR 16,702 crores, up by 99% YoY
   
   --------------------------------------------
   
   Consolidated Performance – 2021-22
   
   Crude Steel production: 19.51 million tonnes, up by 29% YoY
   
   Saleable Steel sales: 18.18 million tonnes, up by 21% YoY
   
   Revenue from operations: INR 146,371 crores, up by 83% YoY
   
   Operating EBITDA: INR 39,007 crores, up by 94% YoY
   
   Net Profit after tax: INR 20,938 crores, up by 166% YoY
   
   ------------------------------------
   
   Production Summary 2020-21
   
   JSW Steel Standalone -17.62 million tonnes
   
   Bhushan Power & Steel Ltd* -2.72 million tonnes
   
   JSW Steel USA Ohio - 0.55 million tonnes
   
   JSW Ispat Special Products - 0.58 million tonnes
   
   JSW Steel Indian Operations - 20.92 million tonnes
   
   Total Combined Volumes -21.47 million tonnes
   
   ----------------------------
   
   Sales Summary 2020-21
   
   JSW Steel Standalone - 16.52 million tonnes
   
   Bhushan Power & Steel Ltd* - 2.59 million tonnes
   
   JSW Steel USA Ohio - 0.48 million tonnes
   
   JSW Ispat Special Products - 0.58 million tonnes
   
   JSW Steel Indian Operations - 19.69 million tonnes
   
   Total Combined Volumes - 20.17 million tonnes
   
   *Without eliminating inter-company volumes
   
   *BPSL is a Subsidiary from 1st October 2021
   
   CAPEX – “The Company's CAPEX spent was INR 14,198 crores during 2021-22, against the planned CAPEX spend of INR 18,240 crores. JSW Steel has completed commissioning of downstream projects being Continuous Galvanized lines and Color Coated Line at Vijayanagar. The remaining downstream projects at Vasind and Tarapur expected to be completed in Q1 of 2022-23. The 5 million tonne per annum brownfield expansion at Vijayanagar is progressing well, with civil works underway at the site. Long lead-time items have been ordered, and Letters of Credit established. The project is expected to be completed by 2023-24. The expansion at BPSL to 3.5 million tonne per annum is progressing well and is expected to be completed by Q2 of 2022-23. Long lead-time items have been ordered for the Phase-ll expansion from 3.5 million tonne per annum to 5 million tonne per annum and the project is expected to be completed by 2023-24.”
   
   Outlook – “The ongoing Russia-Ukraine crisis and impact of the pandemic has led to a severe impact on global supply chains, which in turn has resulted in widespread volatility in the commodities market and given rise to inflationary pressures across most economies. Hence, even as the global economy grew by 6.1% in CY 2021, the International Monetary Fund has moderated its CY 2022 growth forecast to 3.6%, from 4.4% in January. Even as growth estimates have been revised downwards, India is expected to be the fastest growing major economy in the world. Withdrawal of COVID restrictions and normalization of the economy has led to a broad based recovery in most sectors. Infrastructure and manufacturing initiatives by the government are supportive of growth, and healthy tax collections provide the government with enhanced flexibility. Realignment of global supply chains will continue to provide opportunities to grow exports. Outlook for auto sales, especially PVs and M&HCV, remains healthy. Real estate market remains strong despite rising interest rates. Healthy power consumption growth is expected to aid addition of renewables. However, high inflation, energy costs, and rate hikes by the RBI and global central banks will be dampeners to growth.”
   
   ----------------------------------------
   
   Production Guidance for 2022-23
   
   Consolidated Indian operation - 23.60 million tonnes
   
   JSW Ispat Special Products - 0.70 million tonnes
   
   Indian Operations - 24.30 million tonnes
   
   JSW Steel USA Ohio - 0.70 million tonnes
   
   Total Combined Volumes - 25.00 million tonnes
   
   ---------------------------------
   
   Sales Guidance for 2022-23
   
   Consolidated Indian operation - 22.60 million tonnes
   
   JSW Ispat Special Products - 0.70 million tonnes
   
   Indian Operations - 23.30 million tonnes
   
   JSW Steel USA Ohio - 0.70 million tonnes
   
   Total Combined Volumes - 24.00 million tonnes
2. voda 31 mei 2022 06:51

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   JSW Mines in Odisha Bag Awards for Sustainability Practices
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:13 am
   
   The Pioneer reported that the Indian Bureau of Mines Bhubaneswar Chapter has felicitated the JSW Steel with several prestigious awards in multiple categories for promoting sustainability at Odisha mines. JSW Narayanposhi mines bagged an award in reclamation and rehabilitation category while Jajang iron ore mine received awards for publicity and propaganda linked to sustainability initiatives. JSW team received awards on the concluding day of 23rd Mines Environment & Mineral Conservation Week observed from May 23 to May 28 under the aegis of IBM Bhubaneswar region.
   
   Through the event, recognition was conferred on the participating mines in all aspects of managing environment and sustainability including afforestation, waste management, top soil management and reclamation, etc.
   
   Representatives from about 80 mines in Odisha along with top Government dignitaries participated. Leading metal and mining companies in Odisha, such as JSW, Nalco, Tata Steel, Hindalco etc, put up stalls at the venue, showcasing their initiatives linked to sustainable scientific mining. The stalls were inaugurated by the Chief Controller of Mines.
   
   JSW Steel Odisha is fast tracking transporting of ore through slurry pipelines from mines to processing plants, to reduce climactic impact. As preparatory, the leading steel producer has conducted environmental monitoring studies covering all environmental parameters such as air, water, soil, noise and fugitive dust, through recognized laboratories of NABL, Ministry of Environment Forest and Climate Change. To meet climate targets of India, the JSW Steel has installed 14 Continuous Ambient Air Quality Monitoring Stations, four at Nuagaon, four at Jajang, three at Gonua Iron Ore Mine and three more at Narayanposhi Mines for recording of ambient air quality parameters such as PM10, PM2.5, SO2, NOx and CO on real time basis.
3. voda 31 mei 2022 06:51

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   ArcelorMittal France & Spain Plants Certified by ResponsibleSteel
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:15 am
   
   ArcelorMittal has achieved ResponsibleSteel certification for its Asturias Cluster in Spain and ArcelorMittal Méditerranée in France, company’s first sites to be certified in both France and Spain.
   
   In Spain, sites in Asturias, Etxebarri, Lesaka and Sagunto successfully passed the third-party audit carried out by DNV GL and based on the ResponsibleSteel standard, which is the first global certification initiative for the steel industry focused on social, environmental and corporate governance aspects.
   
   And in France, ArcelorMittal sites in Fos-sur-Mer in Bouches du Rhône and Saint Chély d'Apcher in Lozère also successfully completed the audit process, which was carried out by international auditing firm AFNOR, which specializes in assessment and certification services.
   
   The standard is based on 12 Principles which, in turn, include a variety of criteria and requirements. To achieve ResponsibleSteel certification, each site must undergo a rigorous third-party audit, with the resulting report reviewed by an independent Certification Committee which makes the final certification decision. The audits are designed to verify that a steel site’s activities meet a set of rigorously defined standards across a broad range of social, environmental and governance criteria and stakeholder relations, including:
   
   1. Climate Change and Greenhouse Gas Emissions
   
   2. Water Stewardship and Biodiversity
   
   3. Human Rights and Labor Rights
   
   4. Community Relations and Business Integrity
   
   ArcelorMittal achieved its first ResponsibleSteel site certifications in July last year, when sites in Belgium, Germany and Luxembourg announced that they were the first steel plants to achieve the certification globally, in July 2021.
4. voda 31 mei 2022 06:52

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   Initiativkreis Ruhr & ThyssenKrupp Launch First her.summit
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:18 am
   
   Together with the Initiativkreis Ruhr, German steel giant ThyssenKrupp launched a new networking format for female executives in the region. For the first time, around 140 leading women from the Rhine and Ruhr met at the her.summit in the ThyssenKrupp Quartier in Essen. The new format is designed to bring together women in positions of leadership from the region to discuss and facilitate ideas for particularly relevant industrial policy issues of our time. The opening event was held under the motto of: the Ruhr region and hydrogen, a region as a pioneer for the green transformation. The participants are drawn from business, science, associations, media and medicine.
   
   The goal of the initiative is to establish an additional, sustainable network for female managers in the region, to inspire more women to take on leadership and key positions, to support them on their way there, and to give them greater visibility. In addition, the Ruhr region is to be positioned throughout as a strong region with strong players in future topics.
   
   The program of the her.summit includes keynotes, panel discussions and workshops on the topics of green transformation, female career paths and innovative strength.
   
   Speakers included Westenergie AG CEO Ms Katherina Reiche, RWE Generation SE’s Chief Operating Officer Hydrogen Dr Ms Sopna Sury, ThyssenKrupp Steel Europe AG’s Head of Decarbonization & Sustainability Dr Ms Marie Jaroni and Alfried Krupp von Bohlen und Halbach Foundation Chairwoman Prof Dr Ms Ursula Gather.
   
   In the future, the her.summit will be held once a year as the premier networking event for leading female managers in the Ruhr region and beyond. The event will be hosted by one company from the region at a time, with each company passing the baton to the next in successive years. Following the premiere at ThyssenKrupp, the second edition of the her.summit in 2023 will be hosted by Vonovia SE.
5. voda 31 mei 2022 06:53

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   Saima to Use Agha Steel’s Rebars fort Eco Friendly Housing Project
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:20 am
   
   PK Revenue reported that Pakistan’s leading steel maker Agha Steel Industries Limited has signed an agreement with Saima Group for exclusively providing Green Electric Arc Furnace Technology steel rebars to its first of a kind Eco-Friendly Green Housing Structure Project Saima Premium Residency.
   
   Saima Group is a name associated with quality and trust in the real estate planning and development sector of Pakistan, having successfully delivered many mega projects for both residential and commercial to its customers. Saima Group Chairman Mr Zeeshan Zaki said “We are very excited to launch Saima Premium Residency as Pakistan’s first Eco-Friendly Green Housing Structure project that shall be built exclusively with the finest and most technologically advanced rebars supplied by Agha Steel. In accordance with our long term goal of transforming into an environmentally conscious organization, it is our aim to partner with firms that share our values to give sustainable developments for our future residents. We couldn’t have found a better partner than Agha Steel for providing Steel for this visionary project as they are the only company in Pakistan that provides 100% refined quality steel by using green steel technologies.”
   
   Agha Steel Industries has led a Green Steel Revolution in Pakistan through sustainability of its energy mix by installing a 2.25 Megawatt solar power project and signing a term Sheet with Engro Energy for Renewable Energy. Agha said “Our State of the art plant utilizes scrap-based Electric Arc Furnace technology. By using recycled scrap for our raw material, we reduce the need for natural resources. Our CO2 Scope 1 green-house gas emissions and energy consumption intensities are approximately 7 times less than the global steel making average, making the Green Arc Furnace Technology environmentally friendly.”
6. voda 31 mei 2022 06:53

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   Metinvest Informs of Pirates from Russian Federation
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:22 am
   
   Ukrainian steel maker Metinvest said that on 24 February 2022, when Russian military began aggression against Ukraine, Metinvest Group’s Azovstal and Ilyich Steel iron and steel plants were in the port of Mariupol. These steel products were to be exported to buyers from various countries, including Spain, Italy, Belgium, Greece, Portugal and Turkey. It said “At the time of the military invasion, several commercial vessels were in the waters of the port of Mariupol: SMARTA (Liberia), AZOV CONCORD (Malta), AZBURG (Dominica), TZAREVNA (Malta), BLUE STAR I (Panama) and LADY AUGUSTA. They had already been loaded with 28,000 tonnes of steel. There is a high risk that the aggressor will use these vessels to steal and smuggle metallurgical products belonging to Metinvest Group.”
   
   Metinvest said “The illegal actions to seize and resume the operations of the Mariupol port clearly indicate that these steel products may be exported by the occupiers to the ports of Rostov, Taganrog, Novorossiysk, Tuapse and occupied Sevastopol for the further illegal sale of the stolen products to countries of Africa and Asia that do not support the sanctions regimes that have been enacted against the Russian Federation as the aggressor country. Under international and Ukrainian law, the actions of the aggressor’s representatives, including the armed seizure of Metinvest Group’s merchant ships and products, have all the markings of piracy and looting, which are violations of the laws and customs of war and are serious international crimes. Metinvest Group will undertake every possible legal effort to achieve strict legal accountability for all perpetrators and their accomplices.”
7. voda 31 mei 2022 06:53

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   TMK Modernizing Gas Cleaning Equipment at ChTPZ
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 5:58 am
   
   Russia’s leading pipe maker Pipe Metallurgical Company TMK’s Chelyabinsk Pipe Rolling Plant has implemented the second stage of the project to introduce and reconstruct gas cleaning equipment. The plant has put into operation an installation that processes 50,000 cubic meters of atmospheric air per hour and increases the air purification factor to 99%.
   
   The equipment was installed at the plasma cutting section in the shop for the production of seamless pipes, which are used in the machine-building and oil and gas industries, as well as for the production of products within the framework of inter-factory cooperation within TMK. The complex is equipped with 40 filter membrane elements and consists of a bunker, a technical floor, main and backup fans, as well as a single control panel.
   
   ChTPZ is carrying out comprehensive work to implement environmental projects and reduce the potential impact on the environment. The introduction of aspiration systems at the enterprise using the best available technologies takes place within the framework of the Clean Air federal project. Two new gas cleaning units are already operating in the ChTPZ workshops, and two more will be launched by the end of 2024. The total investment in the gas cleaning equipment modernization project will amount to more than 180 million rubles
   
   The modernization project is being implemented under a four-party agreement signed by the enterprise with the Ministry of Natural Resources and Ecology of the Russian Federation, the Federal Service for Supervision of Natural Resources and the government of the Chelyabinsk Region.
8. voda 31 mei 2022 06:54

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   JSPL Divest Full Stake in Jindal Power Limited to Worldone
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:01 am
   
   Jindal Steel & Power Limited announced that it has y completed sale of entire stake in subsidiary Jindal Power Limited by way of sale of equity shares and redeemable preference shares to Promoter Group Company & related party Worldone Private Limited. Accordingly, the shareholding of JSPL in Jindal Power Limited has become nil and Jindal Power Limited has ceased to be a material subsidiary of JSPL.
   
   By way of consideration, Jindal Steel & Power Limited has received the cash consideration of INR 3,015 cores from Worldone and has novated its obligations and liabilities in relation to the intercorporate deposits and capital advances paid by Jindal Power Limited to the Jindal Steel & Power Limited aggregating INR 4,386 crores in favor of Worldone.
   
   Jindal Power and Steel Limited’s board had approved divesting its entire equity interest of 96.4% in Jindal Power Limited to Worldone Private Limited, which is a private company owned by the Promoter Group, a promoter group company, for INR 3,015 crore in April 2022 end. JSPL had said “The divestment is in line with JSPL’s strategic objective to continuously reduce its debt, focus on its India steel business and significantly reduce carbon footprint by almost half as part of its environmental, Social, And Governance objectives."
   
   The deal includes 3,400 MW coal-fired power plants in Chhattisgarh and other non-core assets owned by JPL. JSPL has two coal-fired power plants in Raigarh and Tamnar totaling 3400 MW.
9. voda 31 mei 2022 06:54

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   POSCO Holdings Joins Prologium for Solid-State Battery Market
   
   Strategic Research Institute
   Published on :
   31 May, 2022, 6:03 am
   
   POSCO Holdings will be working with the Taiwanese all-solid-state battery company Prologium to develop core materials for next-generation secondary batteries, including cathode materials, silicon anode materials, and solid electrolytes for all-solid-state batteries, and set up a global supply system. Prologium, founded in 2006, developed an all-solid-state battery in 2012 and has been selling it to manufacturers of small IT devices as smart watches. The company is also attracting investment from global investors, jointly developing all-solid-state batteries for electric vehicles with major automakers like the Daimler Group of Germany.
   
   In conventional secondary batteries, electricity is generated and charged through a liquid electrolyte between the positive and negative electrodes. All-solid-state battery is a next-generation battery using a solid electrolyte instead of the liquid one between the positive and negative electrodes and the separator removed, ensuring safety, and increasing energy density.
   
   Meanwhile, POSCO Holdings is securing the competence to develop materials, including high-capacity cathode materials and silicon anode materials applicable to all-solid-state batteries. Earlier this year, it established POSCO JK Solid Solution, a solid electrolyte material manufacturing corporation, to reinforce the capacity for developing next-generation secondary battery materials.
10. voda 31 mei 2022 06:55

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    ArcelorMittal Brazil Selects Danieli Centro for Billet-Grinding
    
    Strategic Research Institute
    Published on :
    31 May, 2022, 6:06 am
    
    ArcelorMittal Brazil has once more selected a Danieli Centro Maskin NGS16 belt-driven billet-grinding machine for its billet grinding operations. This will be third NGS16 supplied to the Brazilian producer, following two other units supplied in the past. NGS16 grinders ensure extreme reliability combined with operational flexibility and easy maintenance. The selected grinding unit will be equipped with 90-45 degree, variable stepless grinding capability, Hi-Grind pressure control system and a belt-driven spindle with 200 kW of power. The new line is scheduled for commissioning and entering into operation within the first quarter of 2023.
    
    The conditioning process will cover 150mm and 170mm square billets in lengths up to 13 meters, managing 48,000 tonnes per year in output, all in full-skin mode at variable grinding depths.

    Bijlage:
11. voda 31 mei 2022 06:56

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    Imerys Supporting Sustainability Shift in Steel Industry
    
    Strategic Research Institute
    Published on :
    31 May, 2022, 6:10 am
    
    French multinational company which specializes in the production and processing of industrial minerals Imerys is finding solutions, working with customers, suppliers and other stakeholders to create a more efficient, less carbon-intensive steelmaking process. This work embodies the proactive approach taken through the SustainAgility program, which aims to minimize Imerys’ operational impact, while maximizing the benefits of its products. The goal is to catalyze change, not to hold it back. So, when customers come up against a challenge, Imerys will support them in finding the best solution.
    
    Imerys said “Improving the thermal efficiency of a steelmaking process is one of the quickest and easiest ways to start reducing its associated carbon emissions. The equation is simple. Since higher thermal efficiency means more heat is retained in the process, total heat generation is lower than in less-efficient processes, where heat losses are higher. This lowers the amount of fuel burned and, with it, carbon emissions. High-quality refractories play a key role in ensuring thermal efficiency, and are an area in which Imerys is a strong partner to the steel industry through its High Temperature Solutions business area, and notably its Calderys products & brand. It is also an area in which the company has recently expanded its range of solutions to better serve its steelmaking customers’ needs.”
    
    Imerys added “Steelmakers are also looking for more novel solutions to help them realize significant carbon emissions reductions, such as the use of hydrogen and natural gas. This includes both the injection of hydrogen into traditional blast furnaces to reduce the reliance on fossil fuels, as well as hydrogen- and gas-based direct reduction of iron ore.”
    
    Imerys said “Both approaches, however, pose challenges to the refractory. The high diffusivity of hydrogen and its reaction with silica at high temperatures impact the physico-chemical properties and load-bearing capacity of standard refractories. To support the adoption of these technologies, Imerys has partnered with various research institutions to better understand the interaction of hydrogen with refractory materials at high temperatures and so provide even more adapted refractory solutions that enable progress toward Decarbonization. Imerys also recognizes that environmental sustainability must go hand in hand with affordability. The company continuously works with customers to define what is needed, from both a technical and economic standpoint, in order to provide solutions that bring both environmental and economic benefits.”
    
    Imerys supports the iron & steel industry with a range of minerals, refractory solutions, and services covering all aspects of primary and secondary liquid steel processes. The main applications we serve range from safety and abrasion coatings to fluxes for continuous casting processes.
12. voda 31 mei 2022 06:56

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    India’s Finished Steel Exports Shrink in April 2022
    
    Strategic Research Institute
    Published on :
    31 May, 2022, 6:35 am
    
    India’s steel exports declined in April 2022, even before the Indian Government imposed 15% export tax signaling the increased competition from Chinese & Russian exporters. According to Steel Ministry’s Joint Plant Committee provisional data, India’s finished steel import in April 2022 shrank by 22% YoY to 743,000 tonne. The data showed that the sharpest decline in April was in exports to Belgium which at 76,900 tonnes was down 42% YoY, while the second sharpest decline was registered in exports to Turkey at 87,400 tonne, down 18% YoY. During the month, the largest export destination for Indian finished steel was Italy, with 130,500 tonnes, up 4% YoY. Of the total finished steel exports, fiat products accounted for 80% amounting to 594,000 tonnes.
    
    Indian steel mills had a bull run in in steel exports in 2021-22 with total steel exports surging by 81% YoY to 16.405 million tonnes with semis accounting for 2.9 million tonnes & finished steel 13.349 million tonnes ie average monthly rate of 1.1 million tonnes.
    
    --------------------------------------------
    
    Top Destinations for semis – 2021-22
    
    Italy – 0.388 million tonnes, up 247% YoY
    
    Turkey - 0.050 million tonnes, up 220% YoY
    
    Vietnam – 0.008 million tonnes, up 70% YoY
    
    UAE – 0.003 million tonnes, down 87% YoY
    
    Others - 2.656 million tonnes, up 5% YoY
    
    Total - 3.056 million tonnes, up 14% YoY
    
    ------------------------------------------------------
    
    Top Destinations for finished steel – 2021-22
    
    Vietnam -1.390 million tonnes, up 43% YoY
    
    Italy – 1.377 million tonnes, up YoY
    
    Belgium – 1.337 million tonnes, up YoY
    
    UAE -1.182 million tonnes, up 155% YoY
    
    Turkey – 0.839 million tonnes, up YoY
    
    Others – 7.223 million tonnes, up 92% YoY
    
    Total – 13.349 million tonnes, up 110% YoY
13. voda 31 mei 2022 07:26

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    Teck Resources Reports Record Gross Profit in Jan-Mar Quarter
    
    Strategic Research Institute
    Published on :
    31 May, 2022, 6:30 am
    
    Canadian mining firm Teck Resources has announced that notwithstanding a decline in production and sales volumes, in January-March 2022 quarter the first quarter of the current year the company achieved an increase in gross profit from its steelmaking coking coal business unit to a record CAD 1.78 billion, compared to a gross profit of CAD 196 million in the same period last year. That was driven by record high steelmaking coal prices, but was partly offset by higher unit operating costs and logistics issues which curtailed sales volumes in the quarter.
    
    Specifically, in the January-March period, the company produced 5.6 million tonnes of coking coal, down 300,000 tonnes year on year. The decline was attributed chiefly to processing challenges and curtailments early in the quarter associated with high mine inventories from weather disruptions in late 2021. Nevertheless, the lower first quarter production is not expected to impact annual sales volumes as by the middle of the year the company is targeting to reduce high clean coal inventories, and is expecting higher production rates in the second half of the year.
14. voda 31 mei 2022 07:26

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    ICSID Supports Bribery Charges in BSG Resources Simandou Iron Ore
    
    Strategic Research Institute
    Published on :
    30 May, 2022, 6:30 am
    
    Financial Times reported that the World Bank’s International Centre for the Settlement of Investment Disputes in arbitration ruling over licences for Simandou iron ore project said that the mining arm of Mr Beny Steinmetz’s business empire secured the rights to one of the most prized assets in the natural resources industry through a bribery scheme. It said that there was overwhelming evidence that BSG Resources obtained the licences for the giant Simandou iron ore deposit in Guinea through corrupt practices. In the determination, ICSID said there was evidence Touré had directly or indirectly received at least USD 9.42 million from BSGR between August 2009 and May 2012, of which USD 5.23 million could be traced through wire transfers and checks, for her services in securing permits.
    
    While ICSID ultimately found it did not have jurisdiction over claims brought by BSG Resources and Guinea under the country’s mining code and a government infrastructure act, its comments come at a sensitive time for Mr Steinmetz as he battles to overturn a Swiss corruption conviction.
    
    BSG Resources launched arbitration proceedings against Guinea in 2014 after it was stripped of its right to half of Simandou after the government of then President Mr Alpha Condé concluded BSGR had paid bribes. The company, which was placed into administration in 2018 in the face of mounting legal battles, has always maintained it did nothing wrong and was the victim of a conspiracy to seize its assets. That view was challenged by Guinea. In January, 2021 Mr Steinmetz was sentenced to five years in jail by a Swiss court for bribing Mamadie Touré, a wife of Guinea’s late dictator Mr Lansana Conté, to win the license to Simandou.
15. voda 31 mei 2022 08:25

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    Flats stabilising amid costs, demand improvement: Metinvest's Re
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    Plate and hot rolled coil prices will bottom and stabilise in the near term amid improved global demand, says head of Metinvest Western Europe Roberto Re.
    
    The “red line” for HRC prices is approaching for European producers due to the high cost of gas and energy. “I think that prices during the month of June can somewhat change, maybe not in the sense of a complete trend inversion, but also thanks to the international demand resumption, as we expect better demand from China and the USA,” Re said at the Kallanish Europe Steel Markets 2022 conference in Milan on Monday. “We believe prices will stabilise, which will also cause apparent demand to restart.”
    
    However, there will be no going back to pre-pandemic levels. International trading limitations are resulting in a “structural change” that is seeing the regionalisation of prices, Re observed. In the next 3-4 years, Europe may see quite high prices driven by the future post-war reconstruction of Ukraine.
    
    The steep March price increase followed by the rapid decline seen in recent weeks has halted apparent steel consumption. In Italy, state infrastructure projects have been suspended due to escalating construction material prices.
    
    Ukraine’s Azovstal and Ilyich plants are meanwhile severely damaged but “we will never work under any legislation that is different from Ukrainian”, Re pointed out. The company has no plans to restart production in Mariupol as the area has been taken over by Russian forces. The firm has however restarted Zaporizhstal which produces billet for its European re-rolling facilities, particularly Promet Steel in Bulgaria. Metinvest’s Kametstal plant was meanwhile the only steelmaker to maintain operations in Ukraine in March during the Russian invasion.
    
    Zaporizhstal is currently facing some logistical issues but trying to reach 50% capacity for the production of HRC. Metinvest’s other European mills are Trametal and Ferriera Valsider in Italy, and Spartan UK in Newcastle.
    
    All the flat steel mills are currently going ahead with production. Despite the disruption in semis’ supply, Metinvest succeeded in running Valsider until 25 April and Trametal until 11 May. Promet Steel was idled to give the steelmaker time to re-establish billet deliveries from Kametstal, while output at Spartan UK was reduced.
    
    The Italian units are currently undergoing maintenance works due to slow slab deliveries. Trametal is scheduled to restart in the next ten days and Valsider towards the end of June.
    
    “We’ve changed our supply chain completely. We have become re-rollers again,” Re observed. Trametal was a slab re-roller souring from the merchant market before Metinvest purchased the mill.
    
    Metinvest needs around 160,000 tonnes/month of slab to run all its European units. Towards mid-March, European non-integrated re-rollers such as Marcegaglia and Technosider in Italy, and Laminoir des Landes in France, went to the global market to procure high volumes of slab. This caused a speculative bubble, particularly for material from the Far East.
    
    After the outbreak of war in Ukraine, the main sources of global slab supply were countries such as Malaysia, Indonesia and China. The supply chain is now easing, with some more price stability and a larger pool of suppliers including steelmakers from India, Brazil, South America, China and Indonesia, Re said. However, quality is the issue, not volumes, he added.
    
    “Our idea in Europe is to make an important investment in steel production,” Re stated. In an interview with Italy’s RAI television network earlier this month, Metinvest owner Rinat Akhmetov said the firm is going ahead with its plan to build in Italy a new 2 million tonnes/year flat products steel mill supplied by equipment maker Danieli (see Kallanish passim). It may however have to amend its plan of sourcing slab for the new mill from its Ukrainian steelworks.
    
    Natalia Capra France
16. voda 1 juni 2022 08:47

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    Major renewable players commit to using low emission steel
    Image: Courtesy of Siemens Gamesa Renewable Energy
    
    May 31 (Renewables Now) - Spanish utility Iberdrola SA (BME:IBE), Swedish peer Vattenfall AB and wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE) have joined a global initiative that calls for the transition to a net zero steel industry.
    
    The SteelZero initiative is led by The Climate Group in partnership with non-profit organisation Responsible Steel. The campaign organisers said on Tuesday that the three companies, all of which have activities in the renewable energy field, have pledged to use 50% low emission steel by 2030 before reaching the ultimate net zero target.
    
    By joining the initiative, Iberdrola, Vattenfall and Siemens Gamesa will use production materials for their renewable energy infrastructure projects that comply with the goals. All three of them pointed out that the scheme will create partnerships along the value chain and thus speed up the process of reaching climate goals.
    
    Swedish vehicle maker Volvo Cars is also among the initiative’s new entrants, being the first automobile manufacturer enrolled. Existing members are Danish container shipping group AP Moller-Maersk A/S and offshore wind major Ørsted A/S, as well as Australian infrastructure company Lendlease Group.
    
    The steel segment is responsible for about 7% of the global annual carbon dioxide emissions, with the share seen to rise in line with the growth in demand.
17. voda 1 juni 2022 08:49

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    ThyssenKrupp Opts for Danieli Danjoint Slipper Spindles for HSM
    
    Strategic Research Institute
    Published on :
    01 Jun, 2022, 6:07 am
    
    As part of its strategy 20-30, ThyssenKrupp Steel Europe has selected Danieli to supply, install and commission new heavy-duty, slipper-type spindles for Hot-Strip Rolling Mill 1 at Bruckhausen plant in Duisburg in Germany. The order consists of a complete new set of air & oil lubricated slipper-type spindles along with all necessary equipment and spares, to replace the current spindles in operation in the hot-strip mill. The new DanJoint spindles will be designed to suit new thyssenkrupp rolling parameters, and facilitate the replacement of the existing spindles, minimizing shut-down time.
    
    Among the exclusive technological features of the new Danieli spindles is the Danieli Torque & Temperature Monitoring System for work-condition real-time analysis to increase predictive maintenance, thus improving plant availability and reliability.
    
    These heavy-duty DanJoint spindles ordered by thyssenkrupp will be manufactured at Danieli workshops in Italy, granting the highest quality standards, and put in service in just 8 months from the order, which is a challenging delivery time.
    
    This is a second order for spindles for hot-strip mill revamping awarded by ThyssenKrupp to Danieli
18. voda 1 juni 2022 08:49

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    US Steel Capacity Utilization Climbs to 82.4% in Week 21
    
    Strategic Research Institute
    Published on :
    01 Jun, 2022, 6:10 am
    
    American Iron & Steel Institute announced that in the week ending on on 28 2022 US’s domestic raw steel production was 1.798 million net tons while the capability utilization rate was 82.4%. Production was 1.834 million net tons in the week ending 28 May 2021 while the capability utilization then was 81.0%. The last week production represents a 2.0% decrease from the same period in the previous year. Production for the week ending 28 May 2022 is up 0.5% from the previous week ending 21 May 2022 when production was 1.789 million net tons and the rate of capability utilization was 82.1%.
    
    North East: 168 KNT
    
    Great Lakes: 587 KNT
    
    Midwest: 205 KNT
    
    Southern: 767 KNT
    
    Western: 71 KNT
    
    Adjusted year-to-date production through28 May 2022 was 37.093 million net tons, at a capability utilization rate of 80.6%. That is down 1.5% from the 37.677 million net tons during the same period last year, when the capability utilization rate was 78.7%.
19. voda 1 juni 2022 08:50

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    Nucor to Acquire Steel Technologies Pickling Line at Gallatin
    
    Strategic Research Institute
    Published on :
    01 Jun, 2022, 6:13 am
    
    US steel maker Nucor has purchased steel service center Steel Technologies 450,000 short tons per year pickling line, which can process coils up to 72 inches in width and has capabilities from 0.054-0.500-inch. The pickling and slitting facility is located next to Nucor's Gallatin flat rolled mill in Kentucky in US. Nucor expects to take control of the pickling line facility on 30 June 2022. Steel Technologies will retain ownership of slitting equipment at the facility.
    
    Steel Technologies is a Kentucky-based subsidiary of NuMit, a 50:50 joint venture between Nucor & Mitsui
    
    Nucor's Gallatin flat rolled mill is undergoing the final work to integrate 1.4 million short tons per year expansion with the existing 1.6 million short tons per year mill.
20. voda 1 juni 2022 08:51

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    Workers Reject CSN’s Fourth Wage Pact Proposal
    
    Strategic Research Institute
    Published on :
    01 Jun, 2022, 6:15 am
    
    Local media reported that the workers of Brazilian steel producer Companhia Siderurgica Nacional Brazilian steel producer Companhia Siderurgica Nacional and subsidiary galvanizing plant Galvasud have rejected CSN’s latest proposal for annual readjustment of salaries & benefits during the current round of negotiations to end a strike that began in early April by 4,039 NO & 2,385 YES in a voting process. The next steps for the process are uncertain, as a general strike could be declared, or the decision could be transferred to labor courts, where in most cases a readjustment based on inflation rates is adopted.
    
    The fourth proposal submitted by CSN to the workers union was indicated by the company that it would be the final one, meaning that no further negotiations would be accepted. Companhia Siderurgica Nacional is offering a readjustment of salaries between 8-11%, while the workers want the readjustment measured by the inflation over the two years when salaries were not readjusted, estimated at 20%.
    
    CSN workers went on strike on 31 March 2022 demanding higher salaries & bonuses at three units, is continuing. The strike had begun at the Casa de Pedra mine, located in the city of Congonhas, in the interior of Minas Gerais in Brazil. The movement was joined by workers at the Pires mine, which is in the neighboring town Ouro Preto. The workers halted activities at the company's Presidente Vargas mill & Itaguai Port in Volta Redonta city in the state of Rio de Janeiro. Agreement was not reached on 21 April 2022 & strike continued. CSN submitted a proposal to union representatives in a new attempt to end the current strike at the company. The proposal, submitted during a meeting on 22 April was put up to vote by workers on 27 April
    
    Casa de Pedra mine is the oldest iron ore mine in operation in Brazil and currently has a production capacity of 30 million tonnes per year. Port of Itaguaí is a major iron ore export hub and at the Presidente Vargas Steelworks in Volta Redonda is the largest steel mill in Latin America
    
    The cry of the workers hearkens back to historical struggles of the working class in Latin America and particularly the struggles against the military dictatorship in Brazil, initiated with a US-backed coup in 1964 and officially ended in 1985 as a result of a semi-insurrectionary uprising by the working class. In 1988, CSN workers put the newborn democratic regime to the test by staging a massive sit-down strike and were brutally repressed by the Army. Three workers were killed, and hundreds were wounded in what became known as the Volta Redonda massacre.