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1. voda 4 augustus 2022 06:46

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   Ternium Reports USD 414 per Tonne EBITDA in Apr-Jun’22 Quarter
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:18 am
   
   Luxembourg headquartered leading Latin American producer of flat steel Ternium has reported adjusted EBITDA of USD 1.2 billion on steel shipments of 3.0 million tonnes in April-June 2022 quarter, with adjusted EBITDA margin of 28% and adjusted EBITDA per tonne of USD 414. Ternium’s steel shipments in the second quarter of 2022 were 3.0 million tonnes, stable sequentially. On a year-over-year basis, steel shipments decreased 110,000 tonnes in the second quarter, due to a 208,000 tonne decrease in the volume of slabs shipped to third parties, partially offset by a 98,000 tonne increase in finished steel shipments reflecting a further integration of Ternium's production system.
   
   Steel volumes in Mexico increased 7% sequentially in the second quarter of 2022 on healthy industrial customer demand. Automobile manufacturers continued experiencing supply chain constraints in the period, which further curtailed their ability to improve vehicle production rates. In addition, steel volumes shipped to commercial customers increased sequentially mainly reflecting a restocking process, as infrastructure investment in the country remained subdued. On a year-over-year basis, shipments in Mexico decreased 3% in the second quarter of 2022 on weaker industrial customer demand, partially offset by the positive effect of commercial customer's restocking in the period.
   
   Shipments in the Southern Region increased 2% sequentially in the second quarter of 2022, reflecting increased steel demand in Argentina following a seasonally low first quarter. On a year-over-year basis, shipments in the Southern Region decreased 5% in the second quarter of 2022 as in the prior-year period demand for Ternium's products in Argentina was prompted by softening pandemic-related restrictions. Argentina's construction and industrial activity continued growing in the second quarter of 2022 despite the persistence of a high level of uncertainty in connection with the country's economic and financial performance.
   
   In the Other Markets region, shipments decreased 14% sequentially reflecting lower volumes of finished steel products and of slabs shipped to third parties. On a year-over-year basis, shipments in the second quarter of 2022 decreased 3% on lower volumes of slabs shipped to third parties that were mostly offset by higher finished steel shipments in Ternium's main markets in the region.
   
   Outlook - The global steel market environment is rapidly normalizing after the disruption caused by Russia’s invasion of Ukraine in the first quarter of 2022, which led to higher costs across the industry and a surge in steel prices. This normalization, coupled with increasing inflation, the progression of a monetary tightening cycle in the largest western economies and the COVID-19 lockdown-related economic slowdown in China, are causing significant steel price decreases. Ternium expects these steel price decreases to negatively affect its margins during the third quarter of 2022, as the quarterly reset of contract prices gradually reflects lower average prices. The company also expects cost per ton to increase, primarily due to high raw material and slab costs flowing through the company’s inventories. As a result, Ternium anticipates adjusted EBITDA to decrease in the third quarter compared to the second quarter of 2022, mainly due to a lower steel margin and steady shipment levels. In Mexico, demand from the industrial market remains relatively healthy, although supply chain disruptions continue to prevent the automotive industry from a needed increase in production. In addition, the commercial market is currently seeing lackluster apparent demand due to a destocking process driven by the significant decrease in steel prices over the last few months, as well as inflation and higher interest rates which are impacting end customers. In Argentina, steel demand may reflect substantial macroeconomic volatility.
   
   Ternium is Latin America’s leading flat steel producer, with operating facilities in Mexico, Brazil, Argentina, Colombia, the southern United States and Central America.
2. voda 4 augustus 2022 06:46

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   India Knock WTO for Consultations with UK on Safeguard Measures
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:20 am
   
   India has requested consultations with the UK at World Trade Organization to exchange views on the UK's extension of the safeguard measures on steel imports. India claims that the extension is a violation of WTO rules and has substantial interest in the matter.
   
   UK extended its safeguard measures for a further two years from 1 July 2022 until 30 June 2024, to protect its domestic steel sector.
3. voda 4 augustus 2022 06:46

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   US Steel Imports Shrink in July
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:22 am
   
   The American Iron and Steel Institute has reported that US’s steel import permit applications for the month of July 2022 totaled 2.461 million net tons, a 13% decrease from the 2.826 million net tons permit recorded in June and a 12% decrease from the June preliminary imports total of 2.810 million net tons. Import permit tonnage for finished steel in July was 2.082 million net tons, down 5.5% from the preliminary imports total of 2.204 million net tons permit in June. The estimated finished steel import market share in July was 23%
   
   Steel imports with large increases in July permits vs June preliminary imports include wire rods up 48%, black plate up 42%, reinforcing bars up 31% and cut lengths plates up 22%. In July, the largest steel import permit applications were for Canada 0.515 million net tons down 19% from June preliminary, Mexico 0.440 million net tons down 16%, South Korea 0.257 million net tons down 14%, Brazil 0.247 million net tons up 24% and Japan 0.161 million net tons up 64%.
   
   For the first seven months of 2022, total and finished steel imports were 19.230 million net tons & 15.510 million net tons, up 9% and 30%, respectively, from the same period in 2021. The estimated finished steel import market share is 24% year-to-date
   
   Products with significant year-to date increases vs the same period in 2021 include wire rods up 81%, oil country goods up 62%, standard pipe up 55%, cold rolled sheets up 48% and line pipe up 48%. Through the first seven months of 2022, the largest suppliers were Canada 4.093 million net tons, no change from the same period last year, Mexico 3.395 million net tons up 37% and Brazil 1.802 million net tons down 41%.
4. voda 4 augustus 2022 06:47

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   Gerdau Reports 28% YoY Surge in Net Profit in Apr-Jun’22 Quarter
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:26 am
   
   Brazilian steel maker Gerdau has reported that revenue totaled BRL 22.968 billion in April-June 2022 quarter of this year up 20% YoY, EBITDA amounted to BRL 6.680 billion up 13% YoY and net income BRL 4.298 billion up 28% YoY. Brazil was responsible for 45% of the group’s net sales and 32% of its EBITDA, while North America had respectively 33% &43%, South America had 9% & 11% and the specialty steels business division had 13% & 15%.
   
   Production of crude steel increased by 0.7% YoY to 3.43 million tonnes, while sales of steel products increased by 6% YoY to 3.25 million tonnes. Gerdau said “The higher volume of sales attests the resilience of the construction and industrial sectors and the gradual recovery of the automotive sector.
   
   Capex investments totaled BRL 959 million in Q2 of 2022, of which BRL 661 million in Maintenance and BRL 298 in Expansion and Technological Update.
   
   Gerdau is Brazil's largest steel producer, one of the leading producers of long steel in the Americas and of special steel in the world.
5. voda 4 augustus 2022 06:47

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   Primetals Completes First Part of PSC at Voestalpine
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:24 am
   
   Primetals Technologies is modernizing the entire process control system at Voestalpine’s LD3 steel plant in Linz in Austria. In June 2022, voestalpine completed the first modernization phase. In this first part, process control systems for the three converter lines were updated. Updating the entire process control system will lead to improvements in both investment security for the steelworks and process automation availability. Involving more than 100 individual process control systems, the project will be completed in 16 phases and will run until the end of 2022.
   
   The first phase of the modernization project covered control systems for the three converter lines and for the higher-level converter area. Upgrading systems for secondary metallurgy, slab treatment, and dedusting units will follow in coming phases. Before a new process control system goes into operation, a system test is carried out using a "digital twin", which is a digital test and simulation environment with all the functions of the production system.
   
   The old process control system of Voestalpine’s LD3 steel plant is based on the SIMATIC PCS 7 system and possesses a large number of software libraries. Voestalpine’s process control system is one of the largest PCS 7 installations worldwide. While updating the entire control system, Primetals Technologies will take over the existing libraries. This saves time spent on extensive testing of important functions in all units and avoids long plant downtime.
   
   The new process control system ensures the availability of electronic spare parts, improves operational reliability, and ensures long-term compatibility with the latest hardware and software. Throughout the project, detailed documentation will ensure that existing process control system certificates remain valid after the conversion.
6. voda 4 augustus 2022 06:48

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   NMDC to Complete Demerger of Nagarnar Steel Plant by September
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:28 am
   
   Moneycontrol reported that NMDC expects the demerger of 3 million tonnes integrated steel plant Nagarnar to be completed by the July-September quarter of 2022.NMDC CMD Mr Sumit Deb told Moneycontrol “We expect the demerger to take place before the end of September 2022 since the plant would have to undergo various clearance including the ones from Ministry of Corporate Affairs, however, the divestment which is driven by the government would unfold at its own pace.”
   
   NMDC had informed board of director’s decision to approve the proposal of demerges the plant in August 2020. Subsequently in October 2020, the Union Cabinet also approved the demerger of the under-construction steel plant from NMDC, and its strategic disinvestment by selling the entire stake of the Centre to a strategic buyer. The shareholders and creditors only approved the merger in June 2022.
   
   India’s largest iron ore miner NMDC is setting up a 3 million tonne per annum steel plant at Nagarnar near Bastar in Chhattisgarh. The unit being constructed over 1,980 acres at an estimated cost of INR 23,140 crore.
7. voda 4 augustus 2022 07:47

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   US Unblocks Severstal Shares till August End
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:49 am
   
   Interfax Russia reported that US financial institutions have been permitted to unblock shares & bonds of Severstal and Nordgold, which have been frozen since sanctions were imposed on them on 2 June 2 and through 2 June. Access to the securities is now permitted through 31 August. A clause to that effect was added US Treasury Office of Foreign Assets Control license to sell or transfer securities to Severstal and Nordgold, which is in effect until the end of this month.
   
   Severstal and Nordgold were included on the SDN List along with Mr Alexei Mordashov and his family members. Both Nordgold and Severstal had problems servicing their Eurobonds even before they were put on the SDN List, in the spring, after Mr Mordashov was put on the EU sanctions list.
   
   Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is one of the world’s most efficient metals and mining companies. The Company was founded in 1955 at the Cherepovets Steel Mill in Russia. Severstal owns major industrial facilities in Russia, Ukraine, Kazakhstan, France, and Italy, as well as in several African countries. Severstal is listed on the Moscow Exchange and LSE and is one of the largest steel companies in Russia. The company is majority-owned and controlled by billionaire Mr Alexey Mordashov.
8. voda 4 augustus 2022 07:48

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   Nucor to Add Melt Shop at Kingman Bar Mill in Arizona
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:51 am
   
   Charlotte North Carolina headquartered Nucor Corporation announced that it will add a new melt shop at its bar mill in Kingman in Arizona. The new USD 100 million melt shops will have the capacity to produce 600,000 tons annually. Construction of the melt shop is expected to take two years pending permit and regulatory approvals. Nucor Steel Kingman is the ideal location for this project because it is a rolling mill that converts steel billets into coiled wire rod and rebar but lacks a melt shop.
   
   Nucor President & Chief Executive Officer Mr Leon Topalian said “This investment in a new melt shop at our Arizona bar mill is part of our strategy to grow our core steelmaking business and will help us maintain our market leadership position in steel bar production. Adding new melt shop capacity will help meet the growing demand for steel bar products in the Western region, which is one of the fastest growing areas in the US.”
   
   In September 2021, Nucor announced its intention to build a new melt shop at one of its existing bar mills in the Western United States.
   
   Nucor has 15 bar mills strategically located across the United States that manufacture a broad range of steel products, including concrete reinforcing bars, hot-rolled bars, rounds, light shapes, structural angles, channels, wire rod and highway products in carbon and alloy steels. Four of the bar mills have a significant focus on manufacturing special bar quality and wire rod products. Steel produced by Nucor bar mills serves numerous end markets. Nucor's bar steel production capacity is estimated at approximately 9.560 million tons per year.
9. voda 4 augustus 2022 07:48

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   JFE Steel Reports Higher Profit in Apr-Jun’22 Quarter
   
   Strategic Research Institute
   Published on :
   4 Aug, 2022, 6:56 am
   
   Japanese steelmaker JFE Holdings has recorded a net profit of JPY 85 billion (USD 639 million) in April-June 2022 quarter as compared to a JPY 63 billion net profit recorded in the same period of the previous fiscal year. The increase in profit was due to higher steel prices, offsetting the depreciation of the Japanese yen. The company’s net sales amounted to JPY 1.25 trillion (USD 9.41 billion), up 41% YoY. JFE Steel’s consolidated crude steel output increased to 6.77 million tonnes, up by 3% YoY while shipments i amounted to 5.54 million tonnes up 5% YoY.
   
   JFE said “In Japan, downward pressure has been placed on the economy by factors such as continued supply constraints on parts for automobile production, etc., soaring prices for resources and energy, and rising import prices due to a rapid depreciation of the yen. Overseas, demand for steel products is weakening due to China's zero COVID policy and uncertainty about the global economy in the face of Russia's invasion of Ukraine. Toward the latter half of the fiscal year, however, both domestic and overseas demand for steel products are expected to recover moderately as economies rebound from Covid and the Chinese government rolls out anticipated economic-stimulus measures. JFE Steel's non-consolidated crude steel production is expected to be slightly less than 26 million tonnes for the full year. Segment income for the full year is expected to come to JPY 150 billion, lower than in the previous year due to negative factors such as foreign exchange effects reflecting the yen's sharp depreciation and inventory valuation differences. Concurrently, however, the company will continue to implement measures aimed at improving profitability, mainly by strengthening domestic sales prices.”
10. voda 4 augustus 2022 07:49

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    MMK Assessing Potential Effect of US Sanctions
    
    Strategic Research Institute
    Published on :
    4 Aug, 2022, 6:56 am
    
    Russian steel maker MMK said that “We consider sanctions against VF Rashnikov, MMK and its subsidiaries unreasonable and counterproductive. The company is studying the decision taken by the US authorities, assessing its potential effect and the possibility of challenging the imposed sanctions by all available means.”
    
    US Department of the Treasury’s Office of Foreign Assets Control published a document on 2 August according to which blocking sanctions SND List are imposed against the Chairman of the Board of Directors and the controlling shareholder of Magnitogorsk Iron and Steel Works Mr Viktor Rashnikov, MMK and its subsidiaries.”
    
    Interfax Russia separately reported that US Office of Foreign Assets Control has issued a number of licenses to conduct transactions with companies on the SDN List in connection with the inclusion of Russian steelmaker MMK a in the sanctions list. A license to wind down transactions with MMK is valid until 1 September and a license to divest their securities will be in effect until 3 October. A long license, for six months to 31 January 2023, has been granted to wind down transactions with MMK's Turkish plant MMK Metalurji.
11. voda 4 augustus 2022 07:49

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    Baowu Climbs to 44 Position in 2022 Fortune 500 Global List
    
    Strategic Research Institute
    Published on :
    4 Aug, 2022, 6:56 am
    
    China Baowu Steel Group is the largest iron and steel company in the world. As China fast-tracked consolidation of its steel industry in 2021, the state-owned Baowu brought in USD 150.7 billion in revenue, breaking into the top 50 of the Global 500 for the first time. Baowu was the largest steelmaker globally for the second year in a row, according to the World Steel Association, with crude steel output jumping 4.35% to 120 million metric tons in 2021. Baowu plans to produce 200 million tonnes of crude steel by 2025, and its ongoing acquisition of state-owned Shandong Iron & Steel Group and majority stake purchase of Xinyu Iron & Steel Group bring it closer to that target.
    
    As China limits its crude steel output as part of a plan to curb carbon emissions, Baowu has pledged to reduce its carbon output by 30% by 2035, and achieve carbon neutrality by 2050. In November 2021, Baowu established a global alliance with more than 60 other steelmakers to address cutting emissions in the industry.
    
    Key Attributes of Reputation Innovation 8
    
    People Management - 10
    
    Use of Corporate Assets - 8
    
    Social Responsibility - 13
    
    Quality of Management - 12
    
    Financial Soundness - 5
    
    Long-Term Investment Value - 8
    
    Quality of Products & Services - 11
    
    Global Competitiveness - 13
    
    The Fortune Global 500 is one of the most famous and authoritative lists for measuring the strength of the world's largest companies, published annually. The number of Fortune 500 companies is also one of the important indicators to measure a country's economic strength.
    
    Among the top 5 in the steel industry in the 2022 Fortune 500 is
    
    ArcelorMittal – 153
    
    POSCO Holdings – 188
    
    HBIS – 189
    
    Nippon Steel – 214
12. voda 4 augustus 2022 08:02

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    08:00
    *Nippon Steel omzet KW1 JPY1,92 bln Vs JPY1,50 bln
    08:00
    *Nippon Steel operationele winst KW1 JPY338,87 mrd Vs winst JPY256,34 mrd
    08:00
    *Nippon Steel winst voor belasting KW1 JPY334,01 mrd Vs winst JPY250,38 mrd
13. voda 5 augustus 2022 06:43

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    Thai Nguyen Steel’s Expansion Project in Vietnam to Restart
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:05 am
    
    Vietnam News reported that Vietnam’s Prime Minister Mr Ph?m Minh Chính during his visit to long-suspended state run Thái Nguyên Steel & Iron Corporation project in Thái Nguyen Province have asked ministries and agencies to solve problems with the highest determination, putting the country’s interest foremost. Mr Chinh said “It is important to identify whether the project will continue or not, why is it so, how to do it, who will be in charge, when it gets finished, which resources and mechanisms will be used and who will be the one to make the decision.”
    
    He ordered investors to update statistics and propose solutions for problems under the direction of the Commission for Management of State Capital at Enterprises and assigned Deputy Prime Minister Mr Lê Minh Khái to be in charge of directing relevant authorities to solve the problems of the project.
    
    In late 2004, the then Prime Minister gave Thái Nguyên Steel & Iron Corporation the go-ahead to draft a feasibility study for tripling the capacity of steel billet production from 250,000 tonnes to 759,000 tonnes. One year later, the project was approved at an initial tally of VNÐ 3.8 trillion (USD 166 million). The project was originally scheduled for completion within two and a half years. But later total investment increased to over VNÐ 8.1 trillion. It was launched from 2017 and has been postponed since 2013. In 2021, the Thai Nguyen Iron & Steel proposed the resumption of the project.
14. voda 5 augustus 2022 06:44

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    BaoSteel’s TISCO Enhances BF Slag Wool-Making Technology
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:09 am
    
    Chinese steel maker BaoSteel announced that TISCO has achieved breakthrough results in the trial production of high acid coefficient mineral wool products from blast furnace slag. TISCO built the first domestic blast furnace hot molten slag mineral cotton production line in September 2014, and has mastered the technology through years of production. In March 2021, Baowu formed a project team to cooperate with relevant universities in China and proposed to use the TISCO mineral wool production line as a test platform to organize industrialization tests and to realize, through measures like adjusting the ratio of tempering materials, melting and fiber temperature, the production of 1.6-2.0 high acidity coefficient 1.6-2.0 rock wool under the condition where hot slag percentage of more than 50%.
    
    By adapting and optimizing relevant equipment, TISCO’s blast furnace hot slag wool production line has been successfully upgraded from mineral wool to high-grade rock wool, which will improve the hot slag wool making technology, expand the product types and enrich the hot slag technology. More importantly, it has explored an effective path for Baowu in the field of sensible heat recovery, efficient utilization of blast furnace slag, reducing carbon emissions, and by-products management in the steel industry.
    
    Blast furnace hot slag can be converted into mineral wool mainly because its composition is similar to basalt, which is a raw material for the production of mineral wool.
    
    Mineral wool, in addition to its features such as light weight, durability, flame retardant, and non-corrosion, is excellent thermal insulation and sound-absorbing material and is widely used in areas such as industrial thermal engineering, refrigeration equipment and green buildings.
15. voda 5 augustus 2022 06:44

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    Saudi Steel Pipe Reports Profit in H1 of 2022
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:11 am
    
    Dammam based Saudi Steel Pipe has swung into black during the first half of 2022 with SAR 26 million (USD 7 million) profits as compared to loss of SAR 16.7 million in the H1 of 2021. Saudi Steel Pipe has attributed its performance to an increase in gross profit to SAR 56.23 million, as well as a decrease in the share of loss in subsidiaries and lower administrative expenses.
    
    TenarisSaudiSteelPipes is a leading manufacturer and supplier of electrically resistance welded steel pipes for the energy, industrial, and construction segments of the Middle East and North Africa. TenarisSaudiSteelPipes offers oil and gas customers a full range of products including Oil Country Tubular Goods, Line pipe, API and Premium Connections and related accessories and services. It also serves customers in the industrial and construction segment with a wide range of black and galvanized pipes.
16. voda 5 augustus 2022 06:44

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    Air Products Aids Columbus Stainless to Solve Oxygen Crisis
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:13 am
    
    Leading industrial gas provider Air Products has recently assisted their biggest argon customer Columbus Stainless to overcome a production challenge which could have had a severe impact on their operations. Air Products team was approached by Columbus Stainless in Middelburg in South Africa in June to assist in providing a solution for the emergency oxygen supply. The Air Products team acted swiftly to ensure that Columbus Stainless could continue their production with a minimal downtime period averting delays for their export trade.
    
    Columbus Stainless was confronted with a major interruption in the oxygen supply via the pipeline. Due to the oxygen supply pipeline interruption and the Air Products argon installation on site not being utilized, an option was recommended by the technical team to modify and utilize the existing argon storage and vaporization system for an alternate supply of oxygen into the plant. By changing the equipment service use from argon to oxygen, all required controls would be available with minor modifications requiring a temporary pipeline to provide an interconnection between this installation and the plant oxygen supply pipeline. The core requirement was to connect approximately 24 meters of three inch stainless steel pipe as a temporary gas supply solution.
    
    The process of converting the crude argon system to oxygen was seamless as Air Products uses oxygen clean components as a standard for all gas applications. The product in the tanks had to be run down, and the system had to be purged to change service from crude argon to oxygen. An oxygen fill flange with an adaptor had to be fabricated and installed onto the current crude argon fill flange. The crude argon low pressure tank control, electrics and transfer pump had to be isolated and disabled. Concurrently, a three inch stainless steel pipe had to be fabricated, welded and installed from the crude argon system to the tie-in point on site.
    
    Air Products relationship dates back to the 1980’s, before the company was renamed Columbus Stainless. Over the years, Air Products has gradually increased the volume of industrial gas products to Columbus Stainless, the only stainless steel mill in Africa and part of the Acerinox Group of companies.
17. voda 5 augustus 2022 06:45

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    Olympic Steel Reports Record Sales in Apr-Jun’22 Quarter
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:15 am
    
    Cleveland headquartered US’s leading metals service center Olympic Steel has reported that net income for the April-June 2022 quarter totaled USD 37.6 million as compared with net income of USD 29.6 million in April-June 2021 quarter and adjusted EBITDA was USD 58.8 million as compared with USD 51.7 million in the second quarter of 2021. Olympic Steel reported all-time record quarterly sales of USD 709 million in the second quarter of 2022 as compared to USD 556 million in the second quarter of 2021. Olympic Steel Chief Executive Officer Mr Richard T Marabito said “The continued strength of our three business segments in the second quarter drove another record-breaking performance for Olympic Steel. We achieved all-time record quarterly sales surpassing our first-quarter 2022 results to deliver the second-most-profitable quarter in the Company’s history. Our success is rooted in our expansion into higher-return, value-added products, our five successful acquisitions over the past four years and our disciplined approach to working capital and expense management. During the second quarter, Specialty Metals achieved record quarterly sales and earnings, Pipe and Tube continued its run of strong results, and our Carbon Flat business delivered strong EBITDA.”
    
    Mr Marabito said “We are excited to advance our capital deployment strategy, making meaningful investments in all three of our business segments to expand our capacity to serve our growing customer base and enhance our returns. These investments include the addition of a second automotive stamping line in Winder in Georgia, a new leased 80,000 square feet white metals fabrication facility in Bartlett in Illinois and a 30,000 square feet expansion of our Pipe and Tube facility in Des Moines in Iowa. We are also investing in automation and actively seeking additional acquisitions to further diversify our business by expanding our higher-return, value-added product and processing portfolio.”
    
    Marabito concluded “While metal pricing is declining during the third quarter, we remain optimistic regarding underlying demand and our ability to consistently produce earnings in all market cycles.”
18. voda 5 augustus 2022 06:46

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 25 apr 2024

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    BaoSteel Develops Thick Stainless Steel Plates for LNG Pipelines
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:16 am
    
    Chinese steel giant BaoSteel’s Heavy Plate Division has successfully delivered 98mm thick & 3000mm wide high performance S31603 stainless steel plates for pressure vessels directly rolled from large steel ingots recently, realizing the first domestic launch of similar extra-thick stainless steel products.
    
    The Heavy Plate Division of BaoSteel integrated the resources of the whole process of stainless steel manufacturing, gave full play to the process and equipment advantages of partners in each ecosystem, and opened up key production links in series, forming a large steel ingot Mass production capacity of straight rolled extra thick, high quality, high performance stainless steel sheets for pressure vessels.
    
    The team first launched 12.7mmx3790mmx12000mm stainless steel plates for domestic high-precision and ultra wide LNG pipelines substituting imports to connect LNG carriers to onshore LNG storage.
19. voda 5 augustus 2022 06:47

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 25 apr 2024

    • Aanbevelingen

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    Algoma Steel to Start EAF Construction in 2024
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:20 am
    
    Sault Ste Marie Ontario based Canadian producer of hot and cold rolled steel sheet and plates Algoma Steel is aiming to start EAF conversion project in 2024. Algoma Steel Chief Executive Officer Mr Michael Garcia said “The construction of our transformative electric arc furnace project continues on budget and on time towards a targeted startup in 2024. At the same time, the first of our two phase plate mill modernization project was completed and is ramping up during the third calendar quarter of this year.”
    
    Algoma Steel’s Board of Directors authorized Algoma Steel to construct two new state-of-the-art electric arc furnaces to replace its existing blast furnace and basic oxygen steelmaking operations in November 2021. The CAD 700 million projects is expected to take two years to complete and is advancing as expected. Following the transformation to EAF steelmaking, Algoma’s facility is anticipated to have an annual raw steel production capacity of approximately 3.7 million tons, matching its downstream finishing capacity, and reducing the Company’s annual carbon emissions by approximately 70%. To date the project remains on schedule and on budget.
20. voda 5 augustus 2022 06:47

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 25 apr 2024

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    US Steel Kosice Seeks Logistics Support from Government
    
    Strategic Research Institute
    Published on :
    5 Aug, 2022, 6:22 am
    
    Radio Slovakia International reported that US Steel Kosice has asked Slovakia’s Transport Ministry for assistance in ensuring the continuity of raw material supplies by rail from ports in Poland and southern Europe, as the war in Ukraine and sanctions against Russia have increased the strain on standard-gauge railway infrastructure. US Steel Kosice Vice President Miroslav Kiralvarga said “There is currently no problem with the sufficiency or volume of raw materials we need, the problem is with logistics. We want to prevent the fact that due to overcrowding on railways outside Slovakia, we will not be able to get the raw materials here in time. That's why this request for help in communication outside of Slovakia is towards other carriers. Supplies of raw materials from Ukraine via the broad-gauge line for Kosice steel mills are much higher than before the war. In the past, the ratio of deliveries from Russia and Ukraine was roughly equal. Now Ukraine provides us with much larger sources of input raw materials than before the conflict, mainly because sanctions are imposed on Russia and at the same time the infrastructure between Ukraine and Russia is impassable. That is why we are also turning in another direction, that is, outside the eastern part of the world and looking for raw materials.”
    
    Ministry of Internal Affairs State Secretary Mr Jaroslav Kmet promised aid and cooperation to the steel mill in the matter. He said “Solutions are needed more at the political level to support negotiations with the Republic of Poland and perhaps find those capacities in advance so that, if something happens and the flows from the east are blocked, we can find ways out and be ready to import basic strategic raw materials from the ports, either from the north or south.”
    
    State run rail freight company Cargo Slovakia General Manager Mr Roman Gono confirmed the changes in flows of materials. He said “The places where these goods flows are clogging up are at border crossings, at ports, and they need to resolve this issue together so that the supply of materials, be it coal or ore be resumed.”