ArcelorMittal LU1598757687

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1. voda 7 juli 2022 07:25

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   Solar Steel Supplies Solar Trackers to Eiffage Energía
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:37 am
   
   Spanish Gonvarri Industries Solar Steel has closed the supply of TrackSmarT+2V solar trackers for a new 50MW project with Eiffage Energía. The CSF Tabernas project, belonging to X-ELIO, located in the towns of Lucainena de las Torres, Tabernas & Sorbas in Almería in Spain, consists of 1,155 TrackSmarT+2V solar trackers and 92,932 panels generating the energy supply equivalent to 10,000 homes per year.
   
   These figures will mean the generation of renewable energy sufficient to avoid 20,000 tonnes of CO2 into the atmosphere.
   
   Gonvarri Solar Steel is devoted to the design and manufacture of solar trackers and fixed structures for the PV energy sector, with over 15 GW supplied worldwide. TracSmarT+ is the definitive tracking system solution. It is a plus in nearly everything: more reliable, more capable, more cost efficient, more adaptable. Moreover, it requires less installation and maintenance efforts.
2. voda 7 juli 2022 07:25

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   AIC Upgrades Drives of Gerdau Wilton Rolling Mill in Iowa
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:45 am
   
   AIC Capitanio Tailored Automation announced that engineers from AIC North America have successfully commissioned the first phase of drive upgrading at Gerdau Wilton in Iowa in US. The intervention was centred on replacing stands 1, 2, 3 & 11 drives, as well as starting up new converters for stands and shears. Shears SH1 & SH3 drives and control, approach roller table to stand 2, pinch roll 3 & VF0 roller table drives were all part of the project.
   
   Shears controls as well have been completely migrated from obsolete axis control to the new ControlLogix platform with motion controls and Safety PLC has been installed to improve the safety LOTO procedures at the site; everything interfaced with the Rolling Mill Control system platform installed at the site.
   
   This is the first step of a 2 steps installation for the complete revamp of the rolling mill, remaining rolling mill stands will be installed during the Thanksgiving period this year.
   
   Gerdau's North American business division focus on long steel and special steel products including beams and piling, merchant bar quality, rebar, special bar quality and wire rod products. The Gerdau steel plant in Wilton is focused on steel rebar, angles & flats.
   
   AIC Capitanio Tailored Automation is a global system integrator that designs, manufactures & supplies turnkey plants worldwide, providing advanced and tailored automation and mechatronics solutions for the steel industry, with the aim to continuously improve efficiencies, competitiveness and safety of the production processes.
3. voda 7 juli 2022 07:28

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   Tribunal Quashes SEBI Penalty Order on AMNS India
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:48 am
   
   India’s Securities Appellate Tribunal has quashed the Securities & Exchange Board of India’s order imposing a fine on ArcelorMittal Nippon Steel India for violating listing obligations and disclosure norms. Securities Appellate Tribunal’s bench led by Justice Tarun Agarwala said “The impugned order dated 28 March cannot be sustained and is quashed. The appeal is allowed with no order as to costs. However, it will be open to the respondent Sebi to initiate proceedings for the relevant period against the relevant entities.”
   
   On 28 March, Sebi imposed a penalty of INR 2 lakh on A ArcelorMittal Nippon Steel India for the violations. SEBI had said “The enforcement of this order shall be subject to the outcome of the appeals in Monnet Ispat & Energy, Alok Industries & Raj Oil Mills before Supreme Court.”
   
   In October 2019, an adjudicating officer of Sebi has issued a show-cause notice to ArcelorMittal asking why an inquiry should not be initiated against it and a penalty should not be imposed for non-disclosures related to issuance of non-convertible debentures way back in 2011. After the completion of the corporate insolvency resolution process Essar was taken over by ArcelorMittal India in December 2019.
4. voda 7 juli 2022 07:28

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   AISI Estimates Finished Import Market Share at 24% in H1 of 2022
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:50 am
   
   The American Iron and Steel Institute announced that steel import permit applications for the month of June totaled 2.722 million net tons. This is a 2.9% increase from the 2.645 million net tons permit tons recorded in May and a 0.5% decrease from the May preliminary imports total of 2.736 million net tons. Import permit tonnage for finished steel in June was 2.124 million net tons, down 9.0% from the preliminary imports total of 2.334 million net tons in May. The estimated finished steel import market share in June is 24%.
   
   Steel imports with large increases in June permits vs May preliminary imports include ingots and billets and slabs up 49%, line pipe up 25%, heavy structural shapes up 20%, sheets and strip all other metallic coated up 19% and oil country goods up 18%. In June, the largest steel import permit applications were for Canada 0.574 million net tons down 9% from May preliminary, Mexico 0.520 million net tons up 8%, South Korea 0.336 million net tons up 44%, Brazil 0.223,000 million net tons up 75% and Russia 0.123 million net tons up 521%).
   
   For the first six months of 2022, total and finished steel imports are 16.671 million net tons & 13.339 million net tons, up 13.7% and 33.8% respectively from the same period in 2021. The estimated finished steel import market share in January to is 24%.
   
   Products with significant year-to date increases vs the same period in 2021 include wire rods up 95%, oil country goods up 73%, standard pipe up 66%, cold rolled sheets up 57% and line pipe up 46%. Through the first six months of 2022, the largest suppliers were Canada at 3.517 million net tons flat YoY, Mexico 2.954 million net tons up 40% and Brazil 1,578 million net tons down 39%.
   
   *Note that import permits data are counts of tonnages requested in applications for licenses to import steel products and are not actual import volumes. For a number of reasons, permit tonnages may understate or overstate actual import volumes for the month, preliminary estimates of which will be available later this month.
5. voda 7 juli 2022 07:29

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   SAIL BSL Signs MoU with IIT (ISM) Dhanbad for R&D
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:52 am
   
   Steel Authority of India Limited’s Bokaro Steel Plant has signed a Memorandum of Understanding with IIT (ISM) Dhanbad to identify and take forward joint research projects in the areas of steel making, energy conservation, environment, sustainability & digital transformation. SAIL BSL’s Executive Director Operations Mr BK Tiwari said that this MoU will support joint research and development project in various areas of steel plant including environment and safety and draw from our experience and knowledge and expertise of the academicians of IIT (ISM) Dhanbad from top notch institutions.
   
   SAIL BSL’s CGM Maintenance Mr Ved Prakash added “The collaborative work of Bokaro Steel Plant and IIT (ISM) Dhanbad will help us in establishing best practices in the areas of Operations, Maintenance and Supply Chain using technology and Industry 4.0 technologies in our digital transformation journey.:
   
   IIT (ISM) Dhanbad Professor Dr Sagar Pal expressed hope for a good number of collaborations in the core R&D areas related to Steel Manufacturing and Industry-4.0 and Digital Transformation.
6. voda 7 juli 2022 07:29

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   On Line Steel Market Place Reibus Opens European HQ at Dusseldorf
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:55 am
   
   Atlanta Georgia US headquartered online marketplace & solutions provider for industrial metals Reibus International announce its continued expansion into Europe with the opening of a European Headquarters in Düsseldorf in Germany. Reibus Founder & CEO Mr John Armstrong said “We chose Düsseldorf because of its geographic proximity to clients, and also because of the emerging startup community. By continuing to establish operations in key areas within Europe, we are able to serve clients better and strengthen our position in Europe. Düsseldorf also gives us a great opportunity to attract the best people from the local Steel and Technology talent pool as we continue to build our team.”
   
   Mr Andreas du Plessis has been appointed Managing Director of Europe. Mr du Plessis previously led the logistics divisions of one of the world’s biggest e-Commerce companies Otto Group. He brings vast experience in the digitalization of manufacturing, retail, and trading companies, focusing on marketplaces and platforms.
   
   Mr Gilles Mirol has been appointed General Manager of Sales for Europe. Mr Gilles joined Reibus from Liberty Liège Dudelange where he was CMO. His industry experience includes more than two decades with ArcelorMittal FCE.
   
   Ms Miriam Misselhorn, previously in various leadership positions for XOM, Klöckner, ArcelorMittal and Thyssen Schulte, has been appointed Director of Enterprise Sales and Customer Success for Europe.
   
   Mr Jean-Philippe Haye, formerly Liberty Steel and ArcelorMittal, will be leading France as Director of Sales.
   
   Reibus International is a privately held technology and services provider in the industrial metals industry. Their marketplace is the leading independent digital platform for buying and selling steel and other metals. Founded in 2018, the company has expanded rapidly internationally, naming a country director for Canada in 2021. This growth further accelerated after Reibus raised USD 75 million in a series B round in November led by Japanese telecom giant SoftBank and its second Vision Fund, with continued participation from existing investors. At the time Reibus said it had raised more than USD 100 million to date at USD 50 million valuation. Revenue grew in 2021 seven times over pandemic-plagued 2020.
   
   The tech platform connects buyers and sellers with the goal of smoothing out supply chain problems in the industrial marketplace, where managing inventory can suck up capital and create operational headaches. Steel and aluminum markets have been roiled by a volatile few years sparked first by tariffs under the Trump administration, then by the bottlenecks of the pandemic. With Reibus, which plays up its status as an independent marketplace, sellers are promised automated deals, so far 90% have been matched this way, while buyers can see their requests for qualifications quickly matched up with bidders. The company also provides financing and shipping services. Currently, Reibus says it has 6,880 active listings on its platform accounting for 65,506 tons of material across 120 locations. Reibus International had announced acquisition of Sweden based steel & metals trading company Stålgossen on 7 June 2022, which is continuing to operate under the leadership of Mr Thomas Andersson.
7. voda 7 juli 2022 07:30

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   Shinagawa & Dalmia Bharat Refractories Sign Know-How License Pact
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:57 am
   
   Leading global supplier of refractory solutions Japanese Shinagawa Refractories has entered into a Know-How License Agreement for certain refractory products and services with Indian refractory producer Dalmia Bharat Refractories. Working in close collaboration with Dalmia, Shinagawa aims to further expand its business footprint in India, and this Agreement serves as the first step towards future development. This partnership will allow DBRL to provide the latest technology products to its steel customers in India and other parts of the world
   
   Dalmia Bharat Refractories provides end-to-end refractory materials, solutions, and services to clients in more than 40 countries in core industries such as iron and steel, cement, glass, nonferrous metals, and energy and petrochemicals. It is a market leader and innovator in several mission critical refractory product categories. DBRL is India’s fastest-growing refractory company with 7 manufacturing sites, 5 in India, 1 in China & 1 in Germany.
   
   Tokyo headquartered Shinagawa Refractories, is one of the largest refractory suppliers in the world. Since its establishment in 1875 as a first private fire brick company in Japan, Shinagawa has always retained passion and commitment to quality and continues to enhance 147 years of refractory expertise.
8. voda 7 juli 2022 07:31

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   ArcelorMittal Restarts BF 5A at Eisenhuttenstadt in Germany
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 6:59 am
   
   ArcelorMittal has this week restarted blast furnace 5A at it’s at its Eisenhüttenstadt steelworks in eastern Germany, after a six-week period of planned maintenance. The repair of ArcelorMittal Eisenhüttenstadt's blast furnace 5A, which started on 20 May 20 was completed previous week. It was necessary to replace internal cooling plates, among other things.
   
   The Eisenhüttenstadt steelworks produces 2.1 million tonnes per year hot rolled coils, 1.9 million tonnes per year cold-rolled coils, 0.950 million tonnes per year hot dipped galvanized coil & 0.145 million tonnes per year color coated coils.

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9. voda 7 juli 2022 07:31

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   Rama Tubes Acquires Stake in Ashoka Infrasteel & Hagar Mega Mart
   
   Strategic Research Institute
   Published on :
   07 Jul, 2022, 7:02 am
   
   New Delhi headquartered India’s leading steel pipe maker Rama Steel Tubes has acquired 51% stake in Ashoka Infrasteel & 50% stake in Hagar Mega Mart by issuance of fresh shares of the company. Total consideration for expansion initiatives is up to approximately INR 330 million. The Fair Value of Ashoka Infrasteel has been estimated at INR 550 million. Rama Steel Tubes will issue such number of equity shares to Hager Mega Mart up to maximum amount of INR 55 million at the price as may be determined in accordance in accordance with SEBI regulations. The fair value of share of Hagar Mega Mart has been estimated as INR 40 per share.
   
   Ashoka Infrasteel is an established distributor of specialized value added products, ERW pipes, black Steel tubes, galvanized tubes & seamless carbon tubes, having presence in this segment for over 30 years. It caters to reputed clientele like OEMs Infrastructure companies, HVAC, Fire Fighting & MEP contacting companies, agriculture solution providers, Fabricators and many industries and Industrial contractors. The acquisition of Ashoka Infrasteel is expected to give Rama Steel Tubes an access to its vast distribution network spread across the nation and will provide market intelligence in a timely manner which will aid product innovation and development. The acquisition will help Rama Steel Tubes leverage the Distribution network enabling deeper market penetration in the existing markets while opening opportunities in the newer markets.
   
   Hager Mega Mart has an impressive product line of bathroom fittings and Accessories and holds an extensive portfolio of SKUs under their brand umbrella. The acquisition of Hager Mega Mart enables Rama Steel Tubes to enter into a new segment of sanitary ware, bathroom accessories, faucets, vanities, sinks & drains in different finishes and varieties. This foray into a newer segment of bathroom accessories will make Rama Steel Tubes a unique business partner for various commercial and residential construction projects and act as a one stop preferred supplier for all Building materials supplies. Hager Mega Mart will be able to drive growth with this event by leveraging upon Rama Steel Tubes 's wide outreach and already established pan India network.
   
   Rama Steel Tubes is one of the leading manufacturers in the steel tube industry, having a total installed capacity of 264,000 tonnes per annum in state of the art manufacturing units at Sahibabad in UP, Khopoli in Maharashtra & Anantpur in Andhra Pradesh. Rama Steel Tubes products range includes ERW black pipes from 15mm to 200mm diameter pipes & pipes from 15mm to 150mm in light, medium and heavy sizes.
10. voda 7 juli 2022 07:38

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    Beursblik: Jefferies verlaagt koersdoel ArcelorMittal
    Handhaaft koopadvies.
    
    (ABM FN-Dow Jones) Jefferies heeft het koersdoel voor ArcelorMittal verlaagd van 44,00 naar 38,00 euro, maar handhaafde het koopadvies. Dit bleek donderdag uit een sectorrapport van de zakenbank, waarin wordt vooruitgeblikt op de komende kwartaalcijfers.
    
    Analist Alan Spence verlaagde zijn taxaties voor de staalprijs.
    
    Voor het tweede kwartaal rekent hij voor ArcelorMittal niet langer op een EBITDA van 5,28 miljard dollar, maar van 5,18 miljard dollar. Daarmee zit Spence nog net boven de analistenconsensus van 5,17 miljard dollar. Voor heel 2022 ging de raming omlaag van 17,8 naar 16,7 miljard dollar. Ook hier zit Spence nog nipt boven de consensus. Voor 2023 verlaagde hij zijn taxatie zelfs van 17,83 naar 16,71 miljard dollar.
    
    Het aandeel ArcelorMittal sloot woensdag op 20,65 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
11. voda 7 juli 2022 07:38

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    GCC mills seek rebar exports to Europe
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    Gulf Cooperation Council rebar producers are receiving enquiries from traders for export deals to Europe, following Turkish mills' price hikes, Kallanish notes.
    
    Various mills in United Arab Emirates, Saudi Arabia and Oman concluded rebar deals during the absence of Turkish mills from the Far East market until weeks ago. Since Turkish mills' rebar price hikes to $680-700/tonne fob Turkey last week, GCC mills are optimistic about potential rebar exports to Europe as long as Turkish mills do not reduce prices again.
    
    "Now, the Singapore market's buying price for rebar is at around $647-650/t cfr [theoretical weight]," opines a trader. "Considering integrated mills’ billet quotes at $600-610/t delivered within the country in UAE and Oman, rebar prices are still workable for mills in UAE and Oman."
    
    In UAE, Oman, Saudi Arabia, Kuwait and Bahrain, mills are suffering from subdued domestic demand and seeking a way to export to available markets. In the coming months, a group of businessmen led by GCC government officials is expected to visit Israel to develop diplomatic and business ties with the country. Since Israel is a traditional export market for Turkish steel producers, this visit has significant importance for Turkish mills.
    
    In UAE, mills are quoting rebar for the domestic market at $643-654/t (AED 2,360-2,400) ex-works, which is the lowest among the GCC countries. Integrated mills, particularly, for a firm bid and large quantity, are expected to compromise at $610-620/t fob for deals to the European and Far East markets.
    
    "The domestic markets are extremely quiet in the GCC, and I received an enquiry from a trader for the European markets. After [next week’s holiday of] Eid Al Adha, we expect to see a positive development,” explains a senior GCC mill official.
    
    Burak Odabasi Turkey
12. voda 7 juli 2022 08:03

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    Marcegaglia Acquires Trafital in Gola Minore in Italy
    
    Strategic Research Institute
    Published on :
    07 Jul, 2022, 7:52 am
    
    Italian steel group Marcegaglia through the subsidiary Marcegaglia Specialties has completed the acquisition of Trafital in Gorla Minore in the Province of Varese in North Italy. Founded in 1953, Trafital produces 22,000 tonnes cold-drawn and ground-round bars in carbon steel and alloy steel. Trafital has 70 employees and had a turnover of about EUR 35 million. With this acquisition, the Marcegaglia expands its already vast production offer, adding a range of drawn products complementary to those currently processed in the Contino di Volta Mantovana plant.
    
    Marcegaglia is one of Europe’s largest rerollers. Last year, it achieved a turnover of EUR 7.7 billion and employs 6,600 workers. It re-rolls about 6.2 million tonnes per year of steel and has 29 rolling mills.
    
    The transaction was supervised by the M&A team of BPER Banca's Corporate & Investment Banking Department and by the CLAEX Advisors Law Firm for sellers and by KON Group, Studio LP and Law Firm LCA for the Marcegaglia Group.
13. voda 7 juli 2022 08:03

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    Conservative Lord Hannan of Kingsclere Blasts UK’s Steel Safeguard
    
    Strategic Research Institute
    Published on :
    07 Jul, 2022, 7:54 am
    
    Conservative peer, writer & columnist, Conservative MEP from 1999 to 2020 and Initiative for Free Trade President Lord Hannan of Kingsclere wrote an opinion piece on recent extension of steel safeguards by British government. He wrote “If, as reports suggest, ministers are about to extend steel tariffs, in defiance of both our national interests and our international commitments, they will throw away any claim to economic competence. The proposed measures are so obviously self-harming that I don’t believe a single member of Cabinet can truly be convinced by them. Once again, Britain’s long-term growth is being sacrificed to short-term headlines, or to calculations about how individual MPs might vote in a future leadership contest.”
    
    He said “Let’s review what has happened. In 2018, retaliating against Donald Trump, the EU imposed a tariff of 25% on various categories of steel products. Britain inherited this tariff when Brexit took effect. In 2021, our Trade Remedies Authority looked at the measure and found no economic justification for most of the tariffs, some of which covered products that were not made in Britain. The TRA’s recommendation was overruled, evidently following lobbying from MPs with steel-making constituencies. It is hard to know whether these MPs wanted specific barriers or whether they simply wanted to pose in general terms as champions of a local industry. At any rate, ministers are now reportedly going further, extending the 25% tariff beyond its scheduled lapse.”
    
    He wrote “Think about what that price hike means for downstream industries. More than half our steel is used in construction, raising its price by 25% means more expensive houses and fewer people working in the sector. Around 22% of the costs of car-making are tied to steel. Again, needlessly pushing those costs up makes the industry less competitive deters investment and destroys jobs. The same goes for almost every other steel-using sector, from aeronautics and agriculture to domestic appliances and rail. Steel tariffs make everyone worse off, reducing productivity and leaving consumers with less to spend on other things, thereby hurting the entire economy.”
    
    He also said “Some of these consumers, by the way, will work in the steel sector, but not many. Steel employs around 34,000 people in Britain, compared to 166,000 in the automotive sector, 476,000 in agriculture, 95,000 in aerospace, and perhaps two million in construction. All these groups will be hit by the needlessly higher prices, as will the rest of us. So much for doing everything we can to deal with the cost of living crisis.”
    
    He added “A better way to help the steel sector would be to moderate our obsession with net zero. Or, if cheaper energy is not feasible, and if there really is a strategic need to keep an uncompetitive steel industry in this country, it would be far more efficient to subsidise it directly than to mess up the whole economy with tariffs. At least direct grants would go straight to the sector. But, when we examine the data, we find no such strategic need.”
    
    He also wrote “Supporters of the tariffs mutter menacingly about China. But China is not among our top ten suppliers, which in 2021 were Spain, Germany, Belgium, Netherlands, France, India, Turkey, Vietnam, Ukraine, and Italy. Even if we go back to the period before the EU’s tariffs, China was pretty marginal to this country. In 2016, our chief sources of imported steel were Germany 14%, Belgium 9%, Spain 9%, the Netherlands 8%, China 7%, Turkey 6% and France 6%. Those figures are for imports, not total supply; the UK is still its own largest supplier. Nor, by the way, are we running much of a deficit in the sector. The UK buys GBP 4.5 billion of steel products from abroad, and sells GBP 3.7 billion, largely because it specialises in high-quality steel and imports cheaper stuff. This is, by any definition, a comfortable situation. Security, whether in steel or anything else, depends upon having a diverse range of global suppliers, so that we are not vulnerable to a local shock or disruption, which might as easily happen on our own territory as anywhere else.”
    
    He said “The EU’s embrace of tariffs has pushed several of their manufacturers to explore relocating to countries with cheaper steel. We should be seeking to attract those companies instead of pushing them away. As if all this were not enough, ministers can’t find a lawyer prepared to argue that the extension is permitted under WTO rules. So, as well as pushing up prices and shrinking our economy, we risk retaliation against our exports from other states. All this is happening when we are supposed to be, as Boris Johnson put it in 2020, re-emerging after decades of hibernation as a campaigner for global free trade. In the same speech, the Prime Minister spoke warmly of joining the Pacific trade nexus, the CPTPP. He was quite right: the Pacific is the world’s economic centre of gravity, and Britain is uniquely well-placed to benefit from links with the countries around it. But how does he expect those countries – South Korea, for example, to respond to a patently illegal tariff for which the UK’s own official body can find no justification?
    
    He concluded “Not that I want to pick on Johnson. Collective responsibility makes every minister complicit. So let’s ask them. Does (or did) Rishi Sunak want to push up prices in a cost of living crisis? Does Anne-Marie Trevelyan support an action that could start a new set of trade wars? Is Liz Truss happy to see the UK give up its moral leadership? Is Ben Wallace relaxed about pushing up the cost of defence procurement? Is Grant Shapps content to see the cost of HS2 rise by another £1.5 billion to pay for artificially expensive steel? Are the other ministers sitting around the Cabinet table prepared to burden our manufacturers just when we should be pulling every lever to stimulate growth? The worst of it is that this is not a one-off blip, an anomaly from a government otherwise engaged in across-the-board liberalisation. Two-and-a-half years after Brexit, we retain a series of tariffs, including on things we don’t make here, such as bananas and olive oil. So much for global Britain.”
14. voda 7 juli 2022 08:04

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    POSCO Secures Supply of Key Raw Materials for Future Businesses
    
    Strategic Research Institute
    Published on :
    07 Jul, 2022, 7:54 am
    
    POSCO Mr Jeong-woo Choi last month visited Australia to check strategic investment assets in the eco-friendly future material business such as lithium and nickel, and to discuss business cooperation with raw material partner companies. He met with the Western Australia Premier Mr Mark McGowan and requested active support from the state level for various investment and cooperation projects that POSCO Group is promoting including future clean hydrogen project. He said “Australia will become a key producer and procurement country not only for raw materials for steel and secondary batteries but also in the field of future clean hydrogen. We ask for more active support for technology and investment exchanges between companies in the two countries as Australia is an important partner country for the clean hydrogen project promoted by POSCO Group.”
    
    Mr Jeong-woo Choi met Australian resource development company Hancock Chairwoman Ms Gina Rinehart and signed a MoU to expand the scope of cooperation in steel-related businesses such as iron ore mine development and steel raw material HBI production. Mr Jeong-woo Choi said “POSCO Group and Hancock have been working together since 2010, and have been expanding the partnership every year including the success of Roy Hill mine development project and recent joint acquisition of Senex Energy. If POSCO Group, which has value chains from developing secondary battery materials to the production of cathode and anode materials, and Hancock, which has excellent experience and capabilities in the mining industry, cooperate in the secondary battery material businesses such as lithium and nickel, it will be able to create great synergy.”
    
    Mr Jeong-woo Choi also met with First Quantum Minerals Chairman to request cooperation for the smooth operation of Ravensthorpe Nickel Operation which acquired a stake from First Quantum Minerals last year and discussed additional business cooperation opportunities. In addition, he met with the chairman of Pilbara Minerals, which is actively cooperating with lithium raw material development and production joint projects, and discussed expanding the supply of lithium concentrates and cooperating on new projects.
15. voda 7 juli 2022 08:05

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    • voda

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    Mr RCP Singh Resigns & Mr Scindia Is New Steel Minister
    
    Strategic Research Institute
    Published on :
    07 Jul, 2022, 7:54 am
    
    India’s Steel Minister Mr RCP Singh submitted his resignation to Prime Minister Mr Narendra Modi, who lauded his contributions to the country during their ministerial tenure. President Mr Ram Nath Kovind accepted his resignations and assigned the Steel Ministry to Mr Jyotiraditya Scindia, in addition to his existing portfolio of Aviation.
    
    Mr Singh, who comes from an ally party in Bihar JD(U), had sworn in as a minister in the Modi government a year ago on 7 July 2021.
    
    Mr Jyotiraditya Madhavrao Scindia is an Indian politician who serves as the Minister of Civil Aviation, a position his father held from 1991 to 1993.. He is a Member of Parliament in the Rajya Sabha representing the State of Madhya

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16. voda 7 juli 2022 08:06

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    Showa Denko Joins Salzgitter’s SALCOS Green Steel Initiative
    
    Strategic Research Institute
    Published on :
    07 Jul, 2022, 7:56 am
    
    Showa Denko Carbon and the Salzgitter Group have forged a strategic supply partnership for the delivery of ultra-high-powered and ladle furnace OMEGA graphite electrodes. Showa Denko Carbon acquired SGL Carbon’s electrode business in 2017 and has therefore delivered most of the UHP graphite electrodes for the electric arc furnaces since Peine’s mini mill was commissioned in 1996.
    
    With the reconfiguration of metallurgy in Salzgitter under the SALCOS, the requirements for ultra-high powered graphite electrodes are set to increase. In addition, Showa Denko has developed OMEGA, a European manufactured ladle furnace electrode – a product that is often produced by off-shore suppliers.
    
    The electrodes consumed by production are to be recycled in accordance with the Salzgitter AG 2030 corporate strategy, and the two companies also intend to collaborate on the issue of reducing their carbon footprint.
17. voda 7 juli 2022 08:07

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    Beursblik: Deutsche Bank verlaagt koersdoel ArcelorMittal flink
    Koersdoel naar 38,00 euro.
    
    (ABM FN-Dow Jones) Deutsche Bank heeft donderdag het koersdoel voor ArcelorMittal verlaagd van 49,00 naar 38,00 euro bij handhaving van het koopadvies.
    
    Analist Bastian Synagowitz verwacht opnieuw een solide kwartaal voor ArcelorMittal, aangejaagd door de solide prestaties in Brazilië, Europa en bij de mijnbouwdivisie in het tweede kwartaal, ondanks tegenwind van onder meer de oorlog in Oekraïne en teleurstellende NAFTA-prijzen.
    
    Wel zijn de macro-economische risico's toegenomen en verlaagde de analist zijn EBITDA-ramingen voor de periode 2022 tot 2024 met 7 tot 15 procent. Zodoende kwam hij tot een lager koersdoel.
    
    "Hoewel de geopolitieke ontwikkelingen en macro-economische risico's moeilijk in te schatten zijn, stoomt ArcelorMittal door met een sterke kasstroom, die ruimte biedt voor hogere beloningen aan de aandeelhouders. We accepteren de volatiliteit en handhaven het koopadvies", aldus Synagowitz.
    
    Het aandeel ArcelorMittal sloot woensdag op 20,65 euro.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
18. voda 8 juli 2022 06:16

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    US’s Rebar Firm Martinez Steel Secures Funding for Growth
    
    Strategic Research Institute
    Published on :
    08 Jul, 2022, 6:02 am
    
    Ontario California headquartered US’s leading infrastructure construction services company Martinez Steel has completed a refinancing with KeyBank. Proceeds will be used to fund continued growth driven by strong infrastructure demand as well as expansion plans. Additional terms of the transaction were not disclosed. Martinez Steel is a portfolio company of New State Capital Partners. Martinez Steel CEO Mr Ken Witzenman said "We are pleased to embark on a new relationship with KeyBank as we continue our expansion into Northern California and diversify our product offerings. The new partnership will allow us to continue to develop our core business as well as enter new markets and successfully compete for a variety of public and private infrastructure projects."
    
    Founded in 1994 and headquartered in Ontario in California, Martinez Steel is one of the largest independent rebar subcontractors in the United States. The Company provides services to major public and private infrastructure projects on the West Coast, including the California High Speed Rail and Los Angeles Rams Inglewood Stadium.
    
    Martinez Steel is a portfolio company of New State Capital Partners, an entrepreneurial-minded private equity firm. New State and its affiliates have invested in more than 30 companies to date.
19. voda 8 juli 2022 06:17

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    OMK Automates Weighing Vehicles at Vyksa Steel Pipe Plant
    
    Strategic Research Institute
    Published on :
    08 Jul, 2022, 6:05 am
    
    Russia’s leading steel pipe maker United Metallurgical Company OMK has automated the process of weighing vehicles at its Vyksa plant in the Nizhny Novgorod Region using a new weighing system. Now all transport weighing operations are carried out automatically, which will optimize the internal logistics of the enterprise. The weight control system is configured on the basis of automobile strain gauges for static weighing with a maximum load of up to 80 tonnes. The capacity of the equipment is 150 vehicles daily. High accuracy of indicators and stability of metrological characteristics are provided by 12 strain gauges built into three weighing platforms.
    
    The new weighing complex at OMK's Vyksa plant is equipped with smart modules that independently identify vehicles using RFID tags, control the movement of vehicles using traffic lights, monitor their position on the scales, monitor video from three cameras, and recognize vehicle license plates. The installed terminal immediately issues a receipt with information about the actual weight, vehicle number, date and time of its weighing.
    
    Automation of the process will significantly reduce the time for weighing vehicles. The results of measurements of the mass of cars passing through the weighing complex are recorded automatically and stored in the database of our enterprise. Special software protects weight information from unauthorized changes. The automated system affects the intensity of cargo traffic and will improve the internal logistics of the enterprise.
20. voda 8 juli 2022 06:17

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    Georgetown Board Zoning Appeals & Liberty Steel Tussle Continues
    
    Strategic Research Institute
    Published on :
    08 Jul, 2022, 6:07 am
    
    Post & Courier reported that the Georgetown Board of Zoning Appeals voted on 6 July 2022 to finalize adoption of Liberty Steel’s appeal of a February determination by a former city zoning administrator that could have shut down the company’s Georgetown mill. That vote leaves the city of Georgetown 30 days from the mailing of the 6 July order to appeal the board’s June decision allowing the mill to stay open. Board chairwoman Ede Graves told Georgetown Times that the order will be mailed 7 July, which would leave the city until 6 August to file an appeal to circuit court.
    
    The fight between Georgetown and the mill centers around whether Liberty’s prolonged closing during the COVID outbreak triggered a zoning change that would shut down the plant for good. If the plant was closed for a year, that would trigger a zoning change from industrial to commercial that would stop the plant from producing steel wire used in tires and bridge cables as it has for decades.
    
    Liberty Steel reopened in mid-January with 65 workers just before what the company’s believed was the end of the one-year deadline. Georgetown interim Zoning Administrator Mr Chris Inglese ruled soon after the plant reopened that the clock started months sooner, triggering the zoning change. That decision led to Liberty asking for a hearing before the city’s seven-member Zoning Board of Appeals. The sides also argued over the status of Liberty Steel’s business license with Georgetown officials saying the company let it lapse at the end of April, and the mill countering its application has not been processed by the city.
    
    Georgetown city leaders, including Mayor Ms Carol Jayroe, wanted to turn the 50-acre site near Georgetown’s picturesque riverfront into a development of hotels, shops and restaurants that would help attract more visitors to the state’s third-oldest city. Citing the city’s redevelopment district ordinance, Georgetown deemed the mill was not allowed to reopen after being closed during the COVID-19 pandemic. The city could appeal the board’s decision in state court.
    
    LIBERTY is one of the leading manufacturers of wire rod in US with EAF melting and rolling facilities located in Illinois and South Carolina. The business, which is vertically integrated, converting substantially all products from recycled steel scrap, includes a major wire drawing facility in Pennsylvania as well as a number of service, distribution and recycling centres. Employing 1,500 people across 16 locations, LIBERTY Steel USA has an annual steel rolling capacity of over 2 million tonnes.