ArcelorMittal LU1598757687

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1. voda 28 juli 2022 07:12

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   Jindal Stainless (Hisar) Increases Sale by 13% in Apr-Jun’22
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:40 am
   
   Jindal Stainless (Hisar) Limited’s standalone revenue, EBITDA & PAT stood at INR 3,071 crore, INR 316 crore & INR 195 crore respectively during April-June 2022 quarter. On a consolidated basis, Jindal Stainless (Hisar) Limited’s revenue, EBITDA & PAT were recorded at INR 3,454 crore, INR 337 crore & INR 308 crore respectively. Jindal Stainless (Hisar) Limited Managing Director Mr Abhyuday Jindal said “Q1 of FY23 posed various unforeseen macro-economic challenges that impacted the overall sales volumes for the Indian stainless steel industry. The imposition of a 15% export duty by the Indian government further aggravated the domestic market which is marred by unwarranted imports. Despite the challenges, JSHL catered to the demand from key sectors in the country. Simultaneously, JSHL is developing new stainless steel specialty grades and finishes to serve a wide array of critical applications. Going forward, we will implement various green energy projects including the installation of a Green Hydrogen plant at our manufacturing facility.”
   
   Standalone Performance
   
   Revenue - INR 3,071 crore, up by 22% YoY
   
   EBITDA - INR 316 crore, down by 17% YoY
   
   PAT - INR 195 crore, down by 19% YoY
   
   Sales Volume - 132,172 tonnes, up 13%
   
   Domestic Sales - 83%
   
   Exports - 17%
   
   Jindal Stainless (Hisar) Limited is set to install a Green Hydrogen Plant on Build-Own-Operate (basis for its manufacturing processes. Through this venture, the Company will be able to conserve power and reduce its carbon emissions considerably. Additionally, the Company has successfully installed automated lime handling system, energy efficient motors IE3 and has commissioned oxy-fuel burners at its manufacturing facility. Further, the Company aims to install rooftop solar power generation and waste management systems in Q2 of FY23.
2. voda 28 juli 2022 07:13

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   Tenaris Joins EAF Steel Manufacturers Association in US
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:41 am
   
   The Steel Manufacturers Association has announced that Tenaris in the US has joined the association. SMA President Mr Philip K Bell said “We are pleased to welcome Tenaris in the USA to the SMA. It is important that the American EAF steel industry, come together to address common challenges and to pursue common goals. We welcome Mr Zanotti to our board of directors, and we look forward to Tenaris in the USA contributing as a producer member.”
   
   Tenaris has a strong presence in the States, where it has invested approximately USD 11 billion since 2006 to grow its industrial footprint and its product portfolio, driven by its expanding talent base, becoming the largest producer of steel pipes in the US. Steel production at Tenaris’s Koppel PA melt shop, which uses a lower carbon intensive process based on EAF technology, got underway in 2021 following a year-long investment of more than USD 15 million in upgrades. The company has expanded its US workforce by 1,400 since late 2020 and has been boosting production across its facilities, including its Koppel steel mill where it most recently reactivated the heat treatment and finishing lines.
   
   The Steel Manufactures Association is an industry trade organization that represents the American electric arc furnace steel industry, which accounts for 70% of US steel production. Members include Alton Steel, Arkansas Steel, Big River Steel, Byer Steel, Cascade Steel, Charter Manufacturing, Chicago Heights Steel, Commercial Metals Company, EVRAZ, Gerdau NA, Jersey Shore Steel, JSW Steel USA Baytown, Liberty Steel, McDonald Steel, Mid-American Steel & Wire, North Star BlueScope Steel, Nucor Steel, Optimus Steel, SSAB, Steel Dynamics Inc, Sterling Steel (Leggett & Platt), Stupp Corporation, Tenaris, Vallourec Star USA & W Silver.
3. voda 28 juli 2022 07:14

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   Bekaert Scales down Activities at Lipetsk Plant in Russia
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:43 am
   
   Zwevegem Belgium headquartered steel cord & wire manufacturer Bekaert announced that it is scaling back activities in Russia due to the war in Ukraine. Bekaert said “As for our business in Russia and business activities with customers and suppliers in Russia, we stopped all new investments in our local production plant in Lipetsk since March 2022. We remain operational in Lipetsk in support of the livelihood of our employees and their families but we are scaling back our activities in and with Russia and will ensure compliance with the ever evolving rules. The Lipetsk plant is a local-for-local business and the activity level has decreased. Exports to customers in Russia have strongly reduced. We will continue to monitor the situation very closely and evaluate scenarios accordingly.”
   
   Bekaert also said “At Bekaert we are united by the belief that there should be no harm to anyone, and as a consequence, we condemn any act of violence and aggression against people. Our thoughts are with the people from Ukraine and our priority is the wellbeing of our employees and their families and to support them wherever they are. We want to thank all our teams in the region which are doing their utmost to help those in need in whichever way they can, and as a company we are supporting various humanitarian efforts, through donations and by offering employment and accommodation at different locations. Among our team of 27,000, we employ people from more than 70 countries, including Russia and we respect and cherish the diversity wherever we operate in the world.”
   
   The Bekaert Lipetsk plant opened in 2010 and produces steel cord for the tire industry and Dramix fibers for construction markets. Bekaert had decided to add an additional 50% tire cord production capacity to the plant by mid 2018 and to double the half-product capacity.
   
   Global leader in steel wire transformation and coating technologies the story of Bekaert started in Zwevegem, a rural village in Belgium in 1880, where local farmers are faced with the perennial problem of cattle showing the stubborn habit of straying beyond the boundaries of their fields so damaging other people’s property. Mr Leo Leander Bekaert translates their need into a business opportunity: he starts up a small business in barbed wire by putting nails in twisted wire. Leo Leander Bekaert didn’t invent barbed wire, but he soon designs his own barbs, star-shaped crowns with six sharp points which can be woven into the wire. In 1881 he patents this invention and, in next to no time, recruits most of the village to work at home making ‘crowns’ enabling Bekaert to continue producing at full speed. Today Bekaert is preferred partner serving customers in 120 countries with processing approximately 3 million tonnes of wire rod per year. It draws wire in different diameters and strengths, even as thin as ultrafine fibers of one micron, groups the wires into cords, ropes and strands, weave or knit them into fabric, or process them into an end product. Depending on the application, applies coatings which reduce friction, improve corrosion resistance, or enhance adhesion with other materials.
4. voda 28 juli 2022 07:18

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   Vallourec Revenue Surges by 33% in H1 of 2022 due to Higher Sales
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:43 am
   
   Meudon France headquartered seamless pipe leader Vallourec announced that For the First Half of 2022, Oil & Gas revenues totaled EUR 1,231 million, EUR 430 million increase or 54% YoY, mainly thanks to North America and, to a lesser extent, EA-MEA while petrochemicals revenues doubled year-on-year to reach EUR 172 million and industry & other revenues totaled EUR 585 million, stable YoY. Vallourec Chairman Mr Philippe Guillemot said “Robust Second Quarter results were fully in line with our expectations. Our tube business continues to operate in a highly favorable environment, particularly in North America. Our iron ore mine has reopened but is still operating below typical production levels, and this situation is now assumed to continue for the remainder of the year.”
   
   April-June 2022 Quarter
   
   Shipment - 0.433 million tonne, up14% YoY
   
   Revenue - EUR 1,144 million, up 36% YoY
   
   EBITDA - EUR 16 million, up 8% YoY
   
   Net Loss, Group share – EUR 415 million
   
   January-June 2022
   
   Shipment – 0.828 million tonne, up 12% YoY
   
   Revenue - EUR 2,060 million, up 33% YoY
   
   EBITDA - EUR 205 million, down 10% YoY
   
   Net Loss, Group share - EUR 450
   
   2022 Outlook Oil & Gas “In North America, the highly favorable market conditions should continue into H2 2022, in both price and volume terms. Market is very tight in terms of available supply. In EA-MEA, volumes expected to continue to recover modestly in the coming quarters; cost increases will be passed onto customers. In South America, volumes are expected to increase leading to margin improvement throughout the year. In Europe, the outlook for volumes is neutral in a softer market; price increases are expected to fully offset cost inflation. In Brazil, the outlook for volumes is neutral relative to currently elevated levels, with price increases fully offsetting cost inflation.”
   
   Vallourec has partially restarted the mining operations. Assumptions for H2 2022 assume production of approximately 1.5 million tonnes, bringing the total for the year to 2.6 million tonnes. H2 2022 consensus estimates for iron ore average prices stand at approximately USD 120 per tonne. Based on these market trends and assumptions Vallourec is quantifying EBITDA outlook for FY 2022 which is now expected in a range of EUR 650-750 million. On a normalized basis (for full production at the iron ore mine) EBITDA would have been estimated at approximately EUR 1 billion.”
5. voda 28 juli 2022 07:18

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   Tata Steel Ropes in Aarav Unmanned Systems for Mining Solutions
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:45 am
   
   Tata Steel has signed a Memorandum of Understanding with Bangalore based startup providing drone solutions Aarav Unmanned Systems for effective mine management. The primary goal of this collaboration is to jointly develop and offer sustainable & end-to-end integrated solutions that will focus on the efficiency, safety, and productivity of open cast mining operations. Tata Steel will also work jointly with Aarav Unmanned Systems to provide exclusive drone-based solutions including mine analytics and geo-technical mapping, to Tata Steel group companies across various stocks and mining locations in India.
   
   Tata Steel, a mining major, had charted out its vision a couple of years ago to become a leading player in digitalizing its mining operations across the value chain. Digitalization enables the development of targeted strategies using real-time data and data analytics, provides visualization and decision matrix tools to predict failure, helps in optimization of scheduling and material flow, and improves the capability of beneficiation plants through online monitoring of quality data. It also helps in improving productivity through real time monitoring of equipment, plant and operator performance and sweating of capital-intensive mining equipment.
   
   Aarav Unmanned Systems has been working closely with the steel sector behemoth to provide state-of-the-art drone technology to modernize its mining operations. The latest contract will focus on using remote mine monitoring to improve efficiency, safety, and productivity of the mines.
   
   Aarav Unmanned Systems has been leading the drone technology evolution in India for commercial application since its inception at IIT Kanpur in the year 2013. AUS was the first start-up to build and deploy PPK GPS-based Survey grade fully autonomous drones in India. AUS is also the first company to get a small category drone certified by DGCA. Apart from pushing the technology benchmarks and boundaries for enterprise-grade drones, Aarav Unmanned Systems has intensively worked on data collection, processing, and analytics techniques to increase the meaningful impact and value addition of the data collected by the survey-grade drones. Aarav Unmanned Systems is backed by some of the well-known early-stage deep tech investors like the Auxano Capital, KARSEMVEN fund, StartupXseed Ventures, 3one4 Capital, GrowX ventures, 500 Durians, and Ashok Atluri (MD of Zen Technologies), etc.
6. voda 28 juli 2022 07:19

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   Tata Steel Trostre Tin Plate Plant Improves Performance
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:46 am
   
   Tata Steel UK announced that a GBP 6 million investments to upgrade Tata Steel’s Trostre plant in Llanelli with the very latest cutting-edge technology is already paying dividends with record-breaking performances. The investment has been made in the site’s Continuous Annealing Process Line, which softens the strip steels before they go on to be made into cans for food, pet food, aerosols and paint. The investment has seen the complete replacement of all the drives, which are basically the brains that control the line, with a state of the art new system. The six-week project involved more than 200 people working alongside key contractor, Danieli, which included training for the teams on the new system.
   
   Trostre Works Manager Mr Joe Gallacher said “This is one of the biggest single investments in Trostre in recent years and allows us to run the line faster and for longer, removing a key bottleneck at the plant. With 70% of the plant’s output going through this processing line, that’s good for our customers, good for our employees and good for our performance. Since the line was commissioned, our shift production teams using the new control systems have responded with their usual passion and expertise by breaking the shift record twice in a short space of time. The shift and daily records are now constantly in their sights.”
   
   Trostre is celebrating its own platinum jubilee, with 70 years of continuous operation and employees around 600 people directly as well as hundreds of contractor partners. 100% of Heinz Baked Bean cans are made using steel cast at Port Talbot and rolled and coated with tin at Trostre.
7. voda 28 juli 2022 07:19

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   Europe Extends Sanctions against Russia till 31 January 2023
   
   Strategic Research Institute
   Published on :
   28 Jul, 2.022, 6:49 am
   
   The European Union is unwavering in its commitment to help Ukraine exercise its inherent right of self-defense against the Russian aggression and build a peaceful, democratic and prosperous future. The European Council has decided to prolong by six months, until 31 January 2023, the restrictive measures targeting specific sectors of the economy of the Russian Federation. These sanctions, first introduced in 2014 in response to Russia's actions destabilizing the situation in Ukraine, were significantly expanded since February 2022, in light of Russia’s unprovoked and unjustified military aggression against Ukraine. They currently consist of a broad spectrum of sectoral measures, including restrictions on finance, energy, technology and dual-use goods, industry, transport and luxury goods.
   
   Since 24 February, the EU has adopted a number of unprecedented and hard-hitting packages of sanctions in response to Russia’s full-scale invasion of Ukraine. The EU condemns in the strongest possible terms Russia’s war of aggression against Ukraine, which blatantly violates Ukraine’s sovereignty and territorial integrity. It urges Russia to immediately stop its indiscriminate attacks against civilians and civilian infrastructure, and to immediately and unconditionally withdraw all its troops and military equipment from the entire territory of Ukraine within its internationally recognized borders.
   
   In addition to the economic sanctions on the Russian Federation, the EU has in place different types of measures in response to Russia’s destabilizing actions against Ukraine. These include restrictions on economic relations with the illegally annexed Crimea and the city of Sevastopol as well as the non-government controlled areas of the Donetsk and Luhansk oblasts; individual restrictive measures, asset freezes and travel restrictions on a broad range of individuals and entities and diplomatic measures.
8. voda 28 juli 2022 07:52

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   Update: ArcelorMittal voldoet aan verwachtingen
   Gaat eigen aandelen inkopen.
   
   (ABM FN-Dow Jones) ArcelorMittal heeft in het tweede kwartaal van 2022 een vrijwel zelfde winst geboekt als een jaar eerder. Dit bleek donderdagochtend uit de kwartaalcijfers van de staalreus.
   
   CEO Aditya Mittal benadrukte dat de staalreus voor het vijfde kwartaal op rij een EBITDA boekte van meer dan 5 miljard dollar. En ook over de toekomst is de topman positief. "De langetermijn vooruitzichten voor staal blijven positief."
   
   ArcelorMittal boekte afgelopen kwartaal een EBITDA van 5,2 miljard dollar. In het eerste kwartaal was dit 5,1 miljard dollar, net als in het tweede kwartaal van 2021.
   
   Analisten hadden gerekend op een EBITDA in het afgelopen kwartaal van 5,1 miljard dollar.
   
   Op een omzet van 22,1 miljard dollar behaalde de staalreus een nettowinst van 3,9 miljard dollar.
   
   In het tweede kwartaal van 2021 boekte ArcelorMittal een omzet van 19,3 miljard dollar en een winst van 4,0 miljard dollar. In de eerste drie maanden van dit jaar lag de omzet op 21,8 miljard dollar.
   
   Analisten mikten op een nettowinst van 3,7 miljard dollar en een winst per aandeel van 4,05 dollar. De winst per aandeel kwam uit op 4,25 dollar.
   
   ArcelorMittal kondigde een nieuw aandeleninkoopprogramma aan van 60 miljoen aandelen. Tegen de huidige koers is dit inkoopprogramma goed voor een bedrag van circa 1,4 miljard dollar. Dat is meer dan de 1 miljard dollar waarop de markt rekende.
   
   Ook kondigde ArcelorMittal de overname aan van het Braziliaanse CSP voor 2,2 miljard dollar.
   
   Eind juni had de staalreus een schuld van 4,2 miljard dollar. Dat was eind 2021 4,0 miljard.
   
   Update: om meer informatie toe te voegen.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
9. voda 28 juli 2022 08:50

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   AMKR halts ore mining on difficult demand, logistics
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   ArcelorMittal Kryvyi Rih (AMKR) will suspend the operation of its iron ore mining and beneficiation plant for the next three months, starting in August, Kallanish notes.
   
   The temporary stoppage of GOK is the result of “serious economic factors”, the enterprise claims. “This is a decrease in economic activity in Europe against the background of the risk of recession and a significant increase in costs for the transportation of iron ore raw materials. During the downtime, all GOK employees will receive two thirds of their salary,” AMKR observes.
   
   In July, the work schedule had to be changed, reducing working hours and salaries by a third, AMKR says.
   
   “Despite the fact that the company restarted metallurgical production and increased ore extraction, difficulties arose with exporting products to Europe due to the aggressor's [Russia’s] blockade of the Black Sea ports and the limited capacity of the railway,” the company notes. “A 70% increase in Ukrzaliznytsia's tariffs in July against the backdrop of a market downturn made logistics costs prohibitive for the company and necessitated a radical cost reduction in all directions.”
   
   According to the firm, ore mining did not stop for a single day during the 2008 financial crisis, during the Covid-19 pandemic or at the beginning of the Russian invasion. “However, now, demand for concentrate and metal products on European markets has decreased sharply, while the traditional markets still remain unreachable for AMKR,” it adds. “Logistics costs for the enterprise increased fivefold. These circumstances leave no chance for the company to survive without a significant cost reduction.”
   
   Earlier, AMKR resumed operations at its DS-250-5 line for the production of rebar after a long downtime (see Kallanish passim).
   
   The plant previously relaunched a converter and one of three continuous casting machines. This followed the restart of a blast furnace, two coke oven batteries, three filling machines, and a rolling mill.
   
   Svetoslav Abrossimov Bulgaria
10. voda 29 juli 2022 06:29

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    DGFT Suspends Steel 8 Steel Standard Input Output Norms
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 5:58 am
    
    India’s Directorate General of Foreign Trade has notified suspension of certain steel Standard Input Output Norms of Engineering Products with immediate effect. DGFT vide Notification 19/2015-20 dated 27 July 2022 said “In exercise of the powers conferred under Paragraph 1.03 & 2.04 of the Foreign Trade Policy, 2015-2020, Standard Input Output Norms of Engineering Product group: Suspension of SIONs C-594, C-791 to C-796 and C-831 are amended. Following items are suspended with immediate effect”
    
    C594 - Carbon/ Alloy Steel Seamless Tubes (Cold Finished)
    
    C79.1 - Seamless Stainless Steel Tubes (Cold Finished)
    
    C792 - Seamless Stainless Steel Tubes (Cold Finished) (Stainless steel grade -304/304173 21)
    
    C793 - Seamless Stainless Steel Tubes (Cold Finished) (Stainless steel grade-316/31617316 TI)
    
    C794 - Seamless Stainless Steel Tubes/ Pipes (Hot Finished)
    
    C795 - Seamless Stainless Steel Tubes (Hot Finished) (Stainless steel grade -304/304I./321)
    
    C796 - Seamless Stainless Steel lubes (Hot Finished) (Stainless steel grade -316/316L/316T1)
    
    C831 - Stainless Steel Seamless Tubes/Pipes (C old Finish)
    
    DGFT added “Any exporter desirous of obtaining Advance Authorization for export of above said products may apply under Para 4.07 of Handbook of Procedures 2015-20.”
11. voda 29 juli 2022 06:30

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    SST & Schenck Process Launch Lime Injection Solution for EAF Plant
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:01 am
    
    Milton Ontario based Carmeuse subsidiary Storage & Transfer Technologies in partnership with Schenck Process has launched a new lime injection system for electric arc furnace steel plants globally. This collaboration combines the expertise of each company's focus on lime handling, dense phase conveyance and lime manufacturing to bring an effective offering to the market. Customized to meet each steel plant's site and lime requirements, the system components include truck offloading, silo storage, pneumatic conveying, piping and controls up to the injection nozzle. This system can be installed in new sites or integrated into existing sites.
    
    Schenck Process is a global provider of sustainable products, integrated solutions, and services in mission-critical applications for bulk materials. Headquartered in Darmstadt in Germany, the Group has around 3,100 employees with a presence in over 21 countries across 6 continents focused on the food and mining markets, alongside chemicals and performance materials, and infrastructure and energy. The product offering includes solutions for industrial weighing, feeding, conveying, pulverizing and classification, screening, mixing and blending, and associated digital applications.
    
    Storage & Transfer Technologies is a global company, founded in 1970, that designs, installs and maintains lime storage, handling, and slaking systems. It engineers solutions that fit customers' needs and exceed their safety, efficiency, and reliability standards. SST supports customers throughout the full life cycle of their system from design concept to installation through maintenance.
    
    Carmeuse is a global manufacturer of lime and limestone products used in a variety of applications, founded in 1860 with a presence in Western, Central and Eastern Europe, North and South America, Africa, the Middle East, and Asia. With global headquarters located in Louvain-la-Neuve in Belgium, the Carmeuse Group has approximately 4,500 employees and serves over 8,500 customers annually through a network of 80 plants and 50 limestone quarries.
12. voda 29 juli 2022 06:30

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    Algoma Steel Increases Wage Offer to USW Local 2251 Union
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:04 am
    
    Sault Online reported that the 2,000 non salaried employees of the United Steelworkers Union Local 2251 who are looking to strike have been made an offer by Sault Ste Marie Ontario based Canadian steel maker Algoma Steel. Algoma Steel initially rejected 2251’s desire for a wage increase of 16% over three years plus a cost-of-living allowance rolled into each year, which financially Algoma Steel said would add up to 20% over three years. The Algoma Steel offer is 10.6% over three years.
    
    Algoma Steel has offered to add cost of living allowances and a 0.5% wage increase on 1 August 2022, which it says adds up to 4.1% plus the 0.5%. On 1 August 1 the cost-of-living allowance will be rolled the wage but if the increase is less than 3% of an increase, the base wage will be increased to hit the 3% mark. On 1 August2024, the same increase as the previous year will repeat. And on 31 July 2025 the cost-of-living allowance will be rolled into the wage again at this point. The increases will be no less than 10.6% over 3 years.
    
    With Algoma Steel announcing unprecedented revenues, USW Local 2251 has proposed wage increases of 6%, 6% and 4% over the 3-year term for the next agreement. In a response, Algoma Steel offered a COLA, Cost of Living Allowance, roll-in plus a .5% increase in the first year and a CAD 1.35 increase in Years 2 and 3 reduced by any COLA amount generated.
    
    Algoma Steel has been notified by United Steelworkers Local 2724, the union representing its technical, professional, and front-line supervisory employees, that their members have successfully ratified their collective agreement, providing an enhanced economic package for their members and importantly setting out the process to transition the workforce to electric arc steelmaking.
13. voda 29 juli 2022 06:31

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    Reliance Steel & Aluminum Reports Second Quarter 2022 Results
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:06 am
    
    Reliance Steel & Aluminum has reported 84% surge in net profit in January-June 2022. Reliance Steel & Aluminum CEO Mr Jim Hoffman said “Reliance delivered an exceptional second quarter with record-setting financial performance and outstanding operational execution. These results were supported by ongoing healthy demand in most of the end markets we serve and continued elevated pricing levels for the majority of the products we sell. Our model continues to prove resilient amidst challenging macroeconomic circumstances bolstered by our diverse array of products, end markets and geographies, as well as consistent support from our domestic suppliers and deep-rooted relationships with our customers. Our broad geographic footprint of approximately 315 service centers strategically located in close proximity to our end customers provides us a unique competitive advantage by enabling quick turnaround with approximately 40% of our orders delivered within 24 hours. In addition, our proprietary fleet of over 1,700 trucks mitigates the impacts of increased transportation costs in the current inflationary environment.”
    
    April-June 2022
    
    Net sales – USD 4.681 million, up 4% YoY
    
    Gross profit - USD 1.495 million, up 8% YoY
    
    Net income - USD 0.573 million, up 9% YoY
    
    Tons sold - 1.456 million tons, up 3% YoY
    
    Average selling price – USD 3,240 per ton, up 2% YoY
    
    January-June 2022
    
    Net sales - USD 9.167 million, up 47% YoY
    
    Gross profit - USD 2.883 million, up 42% YoY
    
    Net income - USD 1.096 million, up 84% YoY
    
    Tons sold -2.873 million tons, up 1% YoY
    
    Average selling price- USD 3,213 per ton, up 45% YoY
    
    Outlook “Reliance remains cautiously optimistic about business conditions in 2022 with solid underlying demand trends expected to continue across the vast majority of the key end markets it serves. The Company expects shipment levels to be impacted by normal seasonal patterns, which include a decline in shipping volumes due to planned customer shutdowns and vacation schedules. As a result, the Company estimates tons sold will be down 3% to 5% in the third quarter of 2022 compared to the second quarter of 2022. In addition, Reliance expects its average selling price per ton sold for the third quarter of 2022 to be down 5% to 7% compared to the second quarter of 2022 driven by declines in pricing for many of its products, notably for carbon, stainless and aluminum flat-rolled products, partially offset by improving demand and pricing for higher value products sold into the aerospace, energy and semiconductor end markets.”
14. voda 29 juli 2022 06:33

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    Union Iron & Steel Expanding Rebar Presence in GCC region
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:08 am
    
    Mussafah Abu Dhabi based United Arab Emirates-based steel producer Union Iron & Steel continues to strengthen its position in the rebar segment, having reached a new milestone. Union Iron & Steel announced that Kuwait’s Public Authority for Industry has issued quality mark license as per KWS GSO ISO 6935-2:2012 Grade B500B-R Standard for supply of its 8-40 mm reinforcement steel.
    
    Also a recent Material Compliance Report confirmed that 8-32 mm Grade B500B reinforcement rebar complies with relevant standards and specifications of the Kingdom of Bahrain. Earlier, the mill received quality certification from the Saudi Standards, Metrology and Quality Organization.
    
    Established in 2006, Union Iron & Steel’s plant is strategically located in the Abu Dhabi Industrial Zone and facilities include Primetals, formerly known as Vai Pomini fully automated Rolling Mills with a designed capacity to produce 420,000 tonnes per annum. Rebar is produced in size 8mm-32mm in compliance with International Specification and approved by UK CARES.
15. voda 29 juli 2022 06:33

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    Thailand Opens AD Duty Review on Steel Pipes from China & Korea
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:11 am
    
    Thailand’s Ministry of Commerce’s Department of Foreign Trade has recently launched anti-dumping sunset review investigation on certain iron and steel tubes and pipes originating in China and South Korea, following the application submitted by the domestic association on 18 March 2022. The AD duties will be imposed at the current rate in the form of deposits during the investigation period, with a validity period of no more than one year.
    
    The products involved from China and South Korea are subject to AD duties at 3.22%-66.01% and 3.49%-53.88% based on the CIF value, respectively. This imposition is valid for five years, until 19 July 2022.
16. voda 29 juli 2022 06:34

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    • voda

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    Baowu, Tangshan Donghua & Maanshan Visiting Pakistan Steel Mills
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:13 am
    
    The International News reported that 3 Chinese pre-qualified bidders in race for acquiring 74% stakes in Pakistan Steel Mills Corporation BaoSteel Group‘s Xinjiang Bayi Iron & Steel, Tangshan Donghua Iron & Steel and Maanshan Iron & Steel have started their due-diligence processes and on-site visits. They were granted access to Virtual Data Room in March 2022 and they have been visiting PSMC for inspection & assessment of the steel plant, jetty, etc. Pakistan’s Privatization Commission has apprised Pakistan’s Federal Minister & Chairman Privatization Mr Abid Hussain Bhayo. Officials told that the process of the meetings with the pre-qualified parties was underway and discussed various matters pertaining to PSM’s privatization. Mr Bhayo said “Privatization Commission should focus in order to resolve all the pending matters for the early revival of PSMC, as it is one of the biggest entities on the active privatization list, and has incurred huge losses to the national exchequer since 2015.”
    
    PSM is non-functional since 2015 and the government has decided to divest PSM's subsidiary Steel Corp’s 51% to 74% shares through a competitive and transparent bidding process for the revival of the PSM. Pakistan government is offering at least 51% or up to 74% shares capital of Steel Corporation together with management control through a bidding process and revive stalled entity and increase its production capacity to 3 million tonnes. Pakistan government has appointed Pak-China Investment Company and Bank of China International, as joint advisers for the transaction. 12 days long road show with national and international investors for the revival of Pakistan Steel Mills was held in September 2021.
    
    Headquartered in Karachi in Sindh, Pakistan Steel Mills Corporation has a production capacity of 1.1 million tonnes of steel capacity. Built with extensive contributions from the Soviet Union in the 1970s, it was among the largest industrial mega-corporation complexes in Pakistan. Located at 40 kilometers South-East of Karachi at Bin Qasim, PSM’s main production units at 19,000 acre complex includes Coke Oven & By Product Plant, Sintering Plant, Iron Making Plant, Steel Making Plant, Billet Mill, Hot Strip Mill, Cold Rolling Mill, Galvanizing Plant, Cold Forming Section, Refractory Plant, Oxygen Plant and Thermal Power Plant. Products manufactured by Steel Plant are Pig Iron, Billets, Cold Rolled Sheets. Hot Rolled Sheets and Galvanized Sheets. An Iron Ore and Coal Berth constructed and owned by PQA and leased to PSMC. The conveyor belt system was also established by PSMC for the transportation of materials from the Jetty to the Steel Plant. It also owns 1,229 acres of land.
17. voda 29 juli 2022 06:34

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    EU Starts Circumvention Probe for HR Stainless Steel from Turkey
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:16 am
    
    The European Commission has initiated an investigation of possible circumvention of the anti-dumping measures on imports of certain hot-rolled stainless steel sheets and coils originating in Indonesia by imports of these products consigned from Turkey, whether declared as originating in Turkey or not, and making such imports subject to registration. The product involved is flat-rolled products of stainless steel, whether or not in coils, of a width of 600mm or more and of a thickness exceeding 10mm. The investigation will be concluded within nine months from the date of entry into force of this regulation.
    
    The European Commission has received a request on 17 June 2022 from European Steel Association EUROFER. The request contains sufficient evidence that the existing anti-dumping measures on imports of the product concerned are being circumvented by imports of the product under investigation. A change in the pattern of trade involving exports from Indonesia and Turkey to the Union has taken place following the imposition of measures on the product concerned. The data provided in the request showed a significant change in the pattern of trade involving a significant increase in exports of stainless steel slabs, the main raw material for the production of the product under investigation, from Indonesia to Turkey and a significant increase in exports of the product under investigation from Turkey to the Union.
    
    The product concerned by the possible circumvention is flat-rolled products of stainless steel, whether or not in coils (including products cut-to-length and narrow strip), not further worked than hot-rolled and excluding products, not in coils, of a width of 600 mm or more and of a thickness exceeding 10 mm, classified under HS codes 7219 11, 7219 12, 7219 13, 7219 14, 7219 22, 7219 23, 7219 24, 7220 11 and 7220 12 and originating in Indonesia. This is the product to which the measures that are currently in force apply.
18. voda 29 juli 2022 06:37

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    • voda

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    Acerinox Reports Best Half-Year Results in History in Jan-Jun 2022
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:18 am
    
    Madrid headquartered Spanish stainless steel giant Acerinox has reported best half year results in its 52-year history for January to June 2022. Group EBITDA totaled EUR 945 million, increasing by 150% compared to the same period of 2021, when EBITDA totaled EUR 378 million. The Group’s net profit amounted to EUR 609 million, a 201% increase compared to the same period of 2021, when profits totaled EUR 203 million. Revenue also increased significantly in the first six months of 2022 to total EUR 4,821 million, giving rise to a 57% increase compared to the first half of 2021. During this six-month period, Acerinox produced 1.29 million tonnes, a slight decrease compared to the same period of 2021, when production totaled 1.34 million tonnes.
    
    The improvement in performance during the first half of 2022 was progressive. In the second quarter of 2022, EBITDA increased by 24% compared to the first quarter, increasing from EUR 422 million to EUR 523 million. Revenue increased by 11% to EUR 2,535 million compared to the previous quarter, and net profit increased from EUR 266 million in the first quarter to EUR 343 million in the second, a 29% increase.
    
    Acerinox said “There remains a healthy demand from end customers, but there has been a drop in dealer orders following the end of the inventory replenishment process that started at the end of 2020. The strength of the market and the stability of costs in the US, coupled with the Group’s order backlog, provide us with optimism for the third quarter. The exceptional EBITDA achieved in the second quarter, helped by the revaluation of inventories, is a new historical record for Acerinox.”
    
    Acerinox CEO Mr Bernardo Velázquez said “We are witnessing a process of regionalization. The regionalization process that is taking place will increase local purchases and will offset, to a certain extent, the economic recession. Not only do we expect a greater local purchasing component in our main markets, but the closer sourcing will also boost the development of the entire industry in the countries in which we operate, which will further promote stainless steel consumption. If we add to this situation the congestion and high transport costs and the measures against unfair competition in the different markets, which will make exports less competitive, we believe that this new decade that we are starting in such a turbulent way will allow us to value the geographical diversification of the Acerinox Group and all the progress we are making, which will boost Acerinox’s results.
    
    Expected EBITDA in the third quarter of 2022 is likely to be above the average quarterly results of the excellent 2021, the best year in the Group’s history. The second half of the year will be marked by the conflict in Russia and Ukraine and the many uncertainties arising therefrom. The factor which causes greatest concern at the moment is energy, not only because of high prices in Spain, but also because of uncertainties about future regular supply in Germany.
19. voda 29 juli 2022 06:39

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    AMNS India Reports YoY Decline in Apr-Jun’22 Performance
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:20 am
    
    ArcelorMittal announced it 60% JV AMNS India’s crude steel production on 100% basis in April-June quarter of 2022 decreased by 3.6% YoY to 1.668 million tonnes as compared to Q2 of 2021 on account of maintenance. Steel shipments in Q2 of 2022 declined by 12% to 1.511 million tonne on account of lower production as well as lower demand and AMNS India’s EBIDTA on 100% basis declined by 40% YoY to USD 365 million due to lower shipments and lower pellet contribution following the introduction of the export duty during the quarter.
    
    ArcelorMittal said that AMNS India debottlenecking underway and further expansion is planned.
    
    Plans to debottleneck existing operations (steel shop & rolling parts) and achieve 8.8 million tonne capacity by end of 2023 underway
    
    AMNS Hazira facility expansion to at least 14.4 million tonne in advance preparation with ground breaking for CRM2 complex of 2 million tonne PLTCM, 0.5 million tonne galvanizing line & 1 million tonne Galvanizing and Annealing line is slated for March 2022)

    Bijlage:
20. voda 29 juli 2022 06:44

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    US Steel Reports Record Second Quarter 2022 Results
    
    Strategic Research Institute
    Published on :
    29 Jul, 2.022, 6:22 am
    
    Pittsburgh US headquartered United States Steel Corporation has reported April-June 2002 quarter net earnings of USD 978 million as compared to second quarter 2021 net earnings of USD 1,012 million. US Steel President & Chief Executive Officer Mr David B Burritt said “Our record-best second quarter was driven by strong performance across our diverse operating segments. The bold decisions we have made to invest in our competitive advantages make us a stronger business that creates enduring value for our stockholders through the cycle. The well-timed acquisition of Big River Steel created a best in class sustainable Mini Mill segment representing nearly 30% of US Steel’s domestic flat rolled steel EBITDA over the past twelve months. We invested in state-of-the-art electric arc furnace steelmaking through challenging energy dynamics and our Tubular segment is now profitably serving the resurging oil and gas markets. Our revitalized integrated operations are benefiting from our diverse end-market exposure and value-focused commercial strategy that leverages our deep customer relationships and lowest-cost iron ore capabilities to produce profitable steel solutions. In Europe, our Slovakian operations are navigating challenging conditions and continuing to implement resiliency plans and cost mitigation actions in the event of continued economic slowdown in the region.”
    
    April-June 2022 Quarter
    
    Net Sales – USD 6,290 million, up 25% YoY
    
    Flat-Rolled – USD 777 million, up 34% YoY
    
    Mini Mill – USD 270 million, down 5% YoY
    
    US Steel Europe – USD 280 million, up 35% YoY
    
    Tubular – USD 107 million
    
    EBIT - USD 1,254 million, up 21% YoY
    
    Net earnings – USD 978 million, down 3% YoY
    
    January-June 2022
    
    Net Sales - USD 11,524 million, up 33% YoY
    
    Flat-Rolled - USD 1,290 million, up 78% YoY
    
    Mini Mill – USD 548 million, up 32% YoY
    
    US Steel Europe – USD 544 million, up 74% YoY
    
    Tubular – USD 184 million
    
    EBIT - USD 2,372 million, up 63% YoY
    
    Net earnings - USD 1,860 million, up 69% YoY
    
    Mr Burritt concluded “We are bullish on US Steel’s future and confident in our ability to execute our Best for All strategy. While some consumer-oriented markets like automotive and appliance are softer, line pipe and energy demand is accelerating. We have demonstrated a commitment to achieving and maintaining a strong balance sheet, a supportive debt maturity profile, and a balanced approach to capital allocation. We’ve completed our USD 800 million stock buyback authorization and are pleased to announce a new USD 500 million stock buyback authorization today. We are a ‘show me’ story, which gives us the opportunity to continue to consider our stock as an attractive investment. Through passion and perseverance, we look forward to demonstrating the power of our strategy and the improvement in the value of our company.”