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1. voda 18 januari 2023 06:54

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   EUROFER Seeks Tight Standards for Steel Export to Third Countries
   
   Strategic Research Institute
   Published on :
   18 Jan, 2023, 5:46 am
   
   European Steel Association EUROFER has welcomed the revision of the Waste Shipment Regulation adopted by the European Parliament in for a more sustainable approach in waste exports to third countries but has urged to close some critical loopholes to avoid circumvention of the new measures and ensure watertight environmental and social standards equivalent to those of the EU. EUROFER Director General Mr Axel Eggert said “The text approved today is a clear improvement compared to the initial Commission proposal. Yet, significant risks of circumvention persist as long as a genuine level playing field between the EU and third countries is not ensured, especially with respect to environmental, social, safety and health conditions in waste shipment and further treatment. Europe should not allow exporting its waste challenges abroad, even more so when waste such as ferrous scrap is a strategic secondary raw material in the circular economy and for decarbonization.”
   
   Mr Eggert added “Scrap should be rather considered a critical raw material, as already today it is acknowledged to be a scarce resource, and our low-carbon projects will need significantly more ferrous waste already by 2030 and even larger quantities by 2050 to produce green steel.”
   
   He also said “In particular, a stronger monitoring system applied to the most exported waste flows to OECD countries is absolutely necessary, including an effective verification of ESM compliance at country level. Ant circumvention measures should also be strengthened to prevent any undue use of the ‘end-of-waste’ classification. Finally, a more granular and harmonized definition of facility is needed to ensure a rigorous enforcement of the facility-based audit system.”
   
   According to Eurostat, ferrous scrap is by far the most exported type of waste from the EU, 19.5 million tonnes in 2021, equal to 59% of all EU waste exports.
2. voda 18 januari 2023 06:55

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   Europe Keeps Steel Safeguard Measures Unchanged
   
   Strategic Research Institute
   Published on :
   18 Jan, 2023, 5:47 am
   
   The European Commission has modified the safeguard measures on imports of certain steel products that have been in effect since 2018, following a report adopted by the World Trade Organization’s Dispute Settlement Body. The EC has amended the regulations on 13 January by adding an annex in line with WTO rules, however, no changes were made to the measures themselves, as the EC found that there was a threat of serious injury from imports and that would have materialized if the Commission had not imposed a definitive safeguard measure.
   
   The EC introduced them in July 2018 in the form of tariff-rate quotas. In a WTO panel report released April 29, 2022, the WTO, however, called on the EU to bring its measure into conformity with the agreement on safeguards and the General Agreement on Tariffs and Trade. The panel found at the time that the EU steel safeguard was WTO-compatible on most points while it also found, on three points, that the EU safeguard measure lacked sufficient justification.
3. voda 18 januari 2023 06:56

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   Rio Tinto Expects High Volatility over COVID Outbreaks in China
   
   Strategic Research Institute
   Published on :
   18 Jan, 2023, 5:48 am
   
   Australia’s leading iron ore miner Rio Tinto while announcing operational performance for 2022 expects a volatile start to 2023 as the end of China’s zero-COVID policy raises the risk of new waves of infections pummeling demand across its biggest customer base. Rio Tinto said “Market conditions improved towards the end of 2022, sending iron ore prices 22% higher. China’s steel sector benefited as Beijing unleashed three stimulus packages to aid the country’s property sector, before the further easing of pandemic-related public health controls in December and gradual reopening of the economy. However, the coming months will likely bring high volatility, as China faces a growing wave of coronavirus cases. New outbreaks were expected to intensify short-term risks of supply chain disruptions and labor shortages across the country. Steel demand recovery hinges on the country’s ability to control the COVID outbreak.”
   
   Rio Tinto’s iron ore production from its Pilbara operations in Western Australia increased by 6% YoY & QoQ in October-December 2022 quarter to 89.5 tonnes, while iron ore shipments from its Pilbara operations amounted to 87.3 million tonnes, up by 4% YoY & 5% QoQ
   
   In 2022, Rio Tinto’s iron ore production from its Pilbara operations rose by one year on year to 324.1 million tonnes, while its iron ore shipments in the same period totaled 321.6 million tonnes, remaining stable compared to the previous year.
   
   Rio Tinto's Pilbara iron ore shipment guidance for 2023 is at 320-335 million tonnes subject to weather and market conditions.
4. voda 18 januari 2023 06:57

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   China’s Crude Steel Output Dips by 2% to 1 Billion Tonnes in 2022
   
   Strategic Research Institute
   Published on :
   18 Jan, 2023, 5:47 am
   
   China's National Bureau of Statistics announced that China's outputs of hot metal, crude steel and finished steel amounted to 864 million tonnes, 1.013 billion tonnes and 1.340 billion tonnes, down by 0.8% YoY, 2.1% YoY & 0.8% YoY, respectively
   
   China’s outputs of hot metal, crude steel and finished steel amounted to 69.0 million tonnes, 77.9 million tonnes and 111.9 million tonnes in December 2022, down 4.6% YoY, 9.8% YoY & 2.6% YoY, while decreasing by 1.5% MoM, up by 4.5% MoM & 2.5% MoM, respectively, as demand for the material used in construction increased following stepped-up government support for the property sector.
   
   General Administration of Customs has announced last week said that China’s steel product exports in November 2022 were 5.59 million tonnes, up by 8% MoM & up by 28% YoY from 4.36 million in November 2021. Exports in the first 11 months of the year were up 0.4% YoY at 61.95 million tonnes.
   
   China's finished steel imports came to 752,000 tonnes in November, down 3% MoM & 47% YoY. In the January-November period this year, China imported 9.867 million tonnes of finished steel, down 26% YoY.
5. voda 18 januari 2023 07:05

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   Italian coil prices hike as availability lowers
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   Italian hot rolled coil prices are increasing in quotes and contracts by some €70/tonne ($75/t) on average compared to the lowest levels seen last month, Kallanish hears.
   
   All European producers are now quoting longer lead times. In Italy, some mills have few allocations left for the end of March and will soon begin quoting April delivery. Prices have been pushed up to €750/t base ex-works or €760-770/t base delivered, sources say.
   
   Buyers have gone quiet since steelmakers announced increases last week, but both service centres and their clients will have to start ordering to replenish their depleting stocks.
   
   Sellers from Japan, Korea, Taiwan and India also have low availability for Italy. Some are not offering while others proposed limited-time allocations at €695/t cfr that expired quickly. These steelmakers are expected to also push up their prices to well over €700/t cfr in the coming days, but with delivery only in June and clearance not likely until July.
   
   Italian buyers have the option to purchase from Turkey, which is offering at €740/t cfr duty paid for service-centre quality material and arrival by the end of March. Amidst low availability and longer lead times, buyers are left with little choice but to order in Italy or Europe.
   
   While there is some resistance to higher prices, service centres and re-rollers, in need of material for second-quarter delivery, are expected to start purchasing this week. Steelmakers’ price hike attempts are likely to be successful considering the low availability and good demand downstream.
   
   One large service centre says that even if demand from the automotive and appliance sectors remains subdued, all other industry sectors have full order books, some until the end of the year. The general view of 2023 is positive, Kallanish notes.
   
   Italian HRC contracts are now being transacted at €680-720/t base ex-works. This reflects a strong increase from €620-650/t base ex-works at the beginning of December.
   
   Natalia Capra France
6. voda 18 januari 2023 10:45

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   Beursblik: UBS zet ArcelorMittal op de verkooplijst
   
   Koersdoel wel omhoog.
   
   (ABM FN-Dow Jones) UBS heeft woensdag het advies voor ArcelorMittal verlaagd van Neutraal naar Verkopen, maar het koersdoel werd juist verhoogd van 23,00 naar 26,00 euro. Dit bleek uit een sectorrapport van de Zwitserse bank.
   
   Samen met ArcelorMittal werd ook Voestalpine op de verkooplijst geplaatst.
   
   "De fundamentals rechtvaardigen de rally [van deze aandelen] niet", vindt analist Andrew Jones. Die rally ving aan, toen China zijn economie begon te heropenen en de zorgen over de inflatie begonnen af te nemen.
   
   Stijgende staalprijzen in China zorgden ook voor een herstel in de Europese prijzen. "Maar dit is van korte duur", denkt Jones. Zo zal de vraag gaan tegenvallen en stijgt de capaciteit, nu fabrieken weer worden opgestart omdat de energieprijzen dalen. "Zonder een goed klimaat voor de prijsniveaus zien we weinig reden om staalaandelen in portefeuille te hebben."
   
   Het aandeel ArcelorMittal daalt woensdag 0,6 procent naar 28,79 euro.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
7. voda 19 januari 2023 06:36

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   Weer verlies voor Alcoa
   
   Door ABM Financial News op woensdag 18 januari 2023
   Views: 2.011
   
   (ABM FN-Dow Jones) Alcoa is het afgelopen kwartaal opnieuw in de rode cijfers geëindigd, terwijl de omzet ook beduidend lager uitviel. Dit bleek woensdag nabeurs uit de resultaten van de Amerikaanse aluminiumproducent.
   
   In een toelichting sprak de fabrikant van moeilijke omstandigheden, met hogere grondstofprijzen en stijgende energiekosten.
   
   De omzet daalde op jaarbasis van 3,3 miljard dollar naar minder dan 2,7 miljard dollar. Dit leverde een nettoverlies op van 399 miljoen dollar. Dat is 30 miljoen dollar meer verlies dan in dezelfde periode vorig jaar, maar wel beduidend minder dan het verlies van 769 miljoen dollar in het derde kwartaal, toen de omzet uitkwam op 2,9 miljard dollar.
   
   Outlook
   
   Het concern verwacht dit jaar 2,5 tot 2,6 miljoen ton aan aluminium te verschepen, net als in 2022.
   
   Op een rode beurs daalde het aandeel Alcoa al met 2,6 procent in de reguliere handel en nabeurs ging daar nog eens 3,2 procent vanaf.
   
   Bron: ABM Financial News
8. voda 19 januari 2023 06:51

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   Mill Steel Enters Stainless & Aluminum with Acquisition of CME
   
   Strategic Research Institute
   Published on :
   19 Jan, 2023, 6:05 am
   
   Grand Rapids Michigan headquartered US’s leading distributor of flat-rolled carbon steel Mill Steel Co has announced its expansion into the flat-rolled stainless steel and aluminum metal markets with the acquisition of Cleveland Metal Exchange and Chicago Stainless Metal Exchange. A full line of stainless steel and aluminum products is now available through the Mill Steel Stainless and Aluminum division led by industry experts, former CME CEO Mr Randy Horvat and President Mr Jeff Haas.
   
   In addition, the entire CME team, with over 200 years of combined experience in the sourcing and processing of stainless and aluminum products, is joining Mill Steel's seasoned team of carbon flat-rolled specialists.
   
   Mill Steel plans to leverage its vast processing footprint and dedicated carrier network along with CME's extensive supply chain to bring competitively priced aluminum and stainless products to market. The company will immediately assume steel processing and supply for CME's broad array of manufacturing, automotive, and construction industry customers in the Southeastern, Mid-South and Western United States.
   
   Founded in 1959 by Mr Harry Samrick, Mill Steel is one of North America's largest flat-rolled steel distributors. It operates five service center locations including Grand Rapids and Melvindale in Michigan, Jeffersonville in Indiana, Birmingham in Alabama and Houston in Texas.
9. voda 19 januari 2023 06:51

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   Corporate Knights Names Schnitzer Steel Most Sustainable Company
   
   Strategic Research Institute
   Published on :
   19 Jan, 2023, 6:06 am
   
   Portland Oregon headquartered US’s leading metals recycler Schnitzer Steel Industries has been named the most sustainable company in the world by Corporate Knights, a leading media and research organization focused on corporate sustainability performance.
   
   Earning the top spot on the Global 100 List reflects the key role of Schnitzer’s operations in reducing the environmental footprint of industrial manufacturing operations, such as global steelmaking and copper smelting, by supplying customers with recycled metals to use as the primary input in their production processes. A central driver of Schnitzer’s move from #15 on Corporate Knights’ ranking in 2022 to the number one position in 2023 includes sustainable revenue from approximately 4.5 million tons of recycled ferrous metals, 700 million pounds of recycled nonferrous metals, and 465,000 short tons of finished steel products made from recycled ferrous metals. In 2022, the Company also introduced GRN Steel™, a line of net zero carbon emissions finished steel products to provide customers with sustainable steel solutions as they build tomorrow’s essential infrastructure
   
   Corporate Knights includes the sustainable-business magazine Corporate Knights and a research division that produces rankings and financial product ratings based on corporate sustainability performance. The 19th annual Global 100 List of the world’s most sustainable corporations by Corporate Knights is based on a detailed assessment of 6,720 companies, each with more than USD 1 billion in revenue, where performance across a range of sustainability metrics is evaluated.
   
   Schnitzer Steel Industries is one of North America’s largest manufacturers and exporters of recycled metal products with operating facilities located in 25 states, Puerto Rico, and Western Canada. Schnitzer has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 51 stores which sell serviceable used auto parts from salvaged vehicles and receive over 4.1 million annual retail visits. The Company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.
10. voda 19 januari 2023 06:52

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    POMINI Long Rolling Mills to Supply Wire Rod Mill in Middle East
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:07 am
    
    POMINI Long Rolling Mills had announced in November 2022 that it will supply a new rolling mill for wire rod complete with mechanical and electrical equipment to a long product manufacturing company in the Middle East. With the investment the utilizer will be capable to enlarge its product portfolio and effectively tend to the expanding domestic market. The mill will process plain rounds with diameters from 5 to 25 mm, in carbon, engineering, valve and stainless steel grades. The start-up is scheduled to occur in mid-2024.
    
    The contracted scope of supply includes a 75 tonne per hour walking hearth re-heating furnace for square billets from 120 to 160 mm, a high-pressure water descaler, nineteen inline RedRing stands series 5 grouped in roughing, intermediate and pre-finishing trains, two high speed finishing monoblocks with six and four stands respectively, the inline cooling systems, a rod gauge and surface defect detector, the ring forming area with pinch roll and laying head, the key equipment for coil handling including trimming robots, a vertical compactor with wire binding unit, weighing station with label printer.
    
    All the necessary shearing, inline thermo-processing and accessory equipment are included in the supply. The scope is completed by operational change parts, spare parts, fluid systems and additional engineering services. POMINI Long Rolling Mills will also provide advisory services for erection and commissioning. Designed for a maximum rolling speed of 100 meters per second, the rolling mill will have an annual capacity of 400,000 tonnes of wire rod.
11. voda 19 januari 2023 06:52

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    BaoSteel to Supply Steel to Xi'an Xianyang International Airport
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:07 am
    
    Chinese steel giant Baowu announced that the production and marketing research team of BaoSteel recently cooperated to win the supply contract of the GTC and track reservation project construction general contracting steel structure engineering, steel box girder project and bridge steel plate project of the third phase expansion project of Xi'an Xianyang International Airport. The first batch of 3124 tonnes of bridge steel contract for the project has been issued for production so far.
    
    BaoSteel’s thick plate production and marketing research team overcame unfavorable factors such as the impact of the epidemic and the tight construction period, actively solved the design difficulties of steel plate processing and manufacturers, and carried out personalized parameter customization in many aspects such as design specifications and physical and chemical performance analysis and achieved expected results. The Southern Company of the Marketing Center BaoSteel International took the lead in conducting multiple rounds of business exchanges and remote technical communication with relevant parties such as project construction, and took advantage of Zhanjiang Iron and Steel's near-local and fast delivery services to implement the EVI model of major projects. It took only three weeks for the two parties to reach an agreement on all technical details and commercial terms of the order, reflecting the recognition of BaoSteel’s technical and commercial team by the owner, design institute and construction unit.
    
    Xi'an Xianyang International Airport is a major construction project of the National "13th Five-Year Plan" and a national civil aviation benchmarking demonstration project supported by the Civil Aviation Administration of China, and is one of the eight regional hub airports planned and built by the Civil Aviation Administration of China. The third-phase expansion project of the airport will further promote the coordinated development of regional economy and society and accelerate the construction of Xi'an International Aviation Hub. Among them, the engineering GTC and track reservation engineering construction general contracting steel structure engineering and steel box girder engineering projects are an important part of the project, connecting the necessary roads of T1, T2, T3 and T5 terminals.
12. voda 19 januari 2023 06:53

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    Tenaris & Alleima to Supply Corrosion Resistant Tubing to Petrobra
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:08 am
    
    World’s leading supplier of seamless pipes Tenaris and Brazilian oil & gas giant Petrobras have signed a long-term agreement for the three-year supply of tubing with corrosion resistant alloys (material for offshore Brazil, reinforcing the long-standing relationship between both companies. Pipes will be used in the major’s various E&P wells in the pre-salt.
    
    The agreement entails the provision of pipes produced with CRA materials and finished with TenarisHydril Blue premium connections and Dopeless technology. The products will be manufactured in Sweden in partnership with Alleima and threaded at Tenaris’s threading facility in Aberdeen. With Dopeless technology, connections are supplied RunReady and there is no need for the application of running or storage compounds, simplifying handling and running operations.
    
    Alleima, previously known as Sandvik Materials Technology, is a developer of advanced stainless steels, special alloys, titanium, and other high-performance materials. The strategic partnership between Tenaris and Alleima, then Sandvik, started in 2003 to add value to the oil and gas industry through joint research, product development, and the manufacture of specialized tubular solutions for demanding applications.
    
    Tenaris will serve Petrobras with Rig Direct® services, providing fully integrated supply chain solutions from production at the mill to delivery at the port, ready to be run at the offshore rig, contributing to simpler and more sustainable operations. The contract and the service package will be entirely managed by Tenaris’s team in Brazil.
    
    Also, as part of the Rig Direct package, Petrobras will have access to PipeTracer technology, a digital solution that allows users to access technical product specifications and running guidelines, and to create automated digital tallies, without the need for manual measurements, thus improving accuracy and simplifying operations. To ensure well integrity, Tenaris’s experienced field services specialists will support Petrobras at the rig.
13. voda 19 januari 2023 06:54

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    South Africa NEASA & SAEFA Knock Constitutional Court on Wage Deal
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:08 am
    
    IOL reported that South Africa’s steel sector organizations, the National Employer Association of South Africa and the South African Engineering and Founders Association have filed a petition at the Constitutional Court for leave to appeal the judgment of the Labor Court last year, which dismissed their contention of an agreement setting standard wages for the industry. The associations want a fresh hearing of the review dismissed by the labor court to interdict the extension of the Metal and Engineering Industries Bargaining Council consolidated main agreement, pending the review of the Council’s decision to request the minister to extend the agreement to non-parties. This is as members of both organizations are reeling from the impact of the higher wage rates, the higher load shedding stages contributing to production disruptions and the pending higher electricity tariffs after the National Energy Regulator of South Africa granted Eskom a 18.64% increase from April this year.
    
    The petition to the Constitutional Court is based on the grounds that the Labor Court was only required to determine the application for an interim interdict, pending the determination of a review.
    
    NEASA Executive Director Mr Gerhard Papenfus said “The MEIBEC proscribed wages are almost double the most expensive industry in South Africa. There is no growth, only a constant decline. The industry is already in a survival battle and the constitutional court is part of the whole thing,” said Neasa executive director Gerhard Papenfus.
14. voda 19 januari 2023 06:55

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    NCLAT Denies Shyam Sei’s Revised Bid for Mittal Corp
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:09 am
    
    Economic Times reported that insolvency appellate tribunal NCLAT on has allowed Jindal Stainless appeal and set aside the NCLT order, which had permitted Shyam Sei & Power Setting aside the NCLT order. NCLAT bench headed by Chairperson Justice Ashok Bhushan said “Without there being any valid reason ought not to have been interfered with the voting on the Resolution Plans which had already commenced on 7 August 2022. As a result of the NCLT order, the voting process was abandoned by the Resolution Professional. We are of the view that the order passed by the NCLT, is unsustainable and deserves to be set aside.”
    
    NCLAT also extended the Corporate Insolvency Resolution Process till 28 February 2023, by which the Resolution Professional may file an appropriate Application before the NCLT, bringing relevant facts and development in the CIRP on record.
    
    Earlier, in an order on 11 August 2022, the Mumbai bench of the NCLT had permitted Shyam Sei & Power Ltd to submit a revised resolution plan, even after when the voting of the Committee of Creditors of Mittal Corp had already commenced on 7 August 2022.
    
    CIRP was initiated by the NCLT against Mittal Corp on 10 November 2021 and six resolution plans were received, including Jindal Stainless, Shyam Sei & Power, Rimjhim Ispat, Saarloha Advanced Material, Kalyan Toll Infrastructure and Trishakti Power. After considering the report on the qualitative evaluation of the Resolution Plans, the CoC resolved to put four plans, including that of Shyam Sei & Power to vote. Voting was to commence from 5 August till 26 August 2022. Later, Shyam Sei approached RP with a revised offer, which was declined by him. Soon after the voting commenced, Shyam SEL approached the NCLT, seeking direction that Resolution Professional to consider the revised offer dated 29 July 2022.
    
    Mittal Corp, which has two steel making units, is an established manufacturer of stainless steel rebars & has verified claims of INR 1,587 crore. The offer from the highest bidder translates to a recovery of 16% for lenders Punjab National Bank, State Bank of India. In 2016, lenders attempted to sell the company to a strategic buyer by converting its debt into 51% equity under the then prevailing Strategic Debt Restructuring scheme approved by the Reserve Bank of India. However, the account deteriorated, and lenders were unable to find any buyer. It was subsequently admitted to NCLT following a petition from PNB.
15. voda 19 januari 2023 06:55

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    H2 Green Steel & Mobilaris Join Hands for digitalization
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:09 am
    
    Digital industrial solutions provider Mobilaris and cleantech impact startup H2 Green Steel will work together to make use of digital solutions for the world’s first large-scale green steel plant. Mobilaris and H2 Green Steel have signed a letter of intent to collaborate for the use of digital solutions during construction, and later operations, of H2 Green Steel’s large-scale steel plant in Boden in northern Sweden. The plant will be the first of its kind, powered by green hydrogen and fully integrated between digital and physical components from the start.
    
    The ambition of the collaboration between the two companies is to improve workforce safety and provide a more efficient site coordination enabling an efficient, safe and transparent way of operating a large-scale construction project, and later on daily operations, of a next generation decarbonized steel production plant.
    
    Both companies share belief in pushing boundaries and transforming hard-to-abate industries to the better by the use of technology.
    
    H2 Green Steel was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The founder and largest shareholder of H2 Green Steel is Vargas, which are also co-founder and one of the larger shareholders in Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden.
    
    Through innovation and new technology, Mobilaris enables tomorrow’s smart, sustainable industries. Its digital solutions have been used to improve safety, productivity, and efficiency in various industries around the world for more than 20 years. In 2021, it established our investment business area Mobilaris Evolve, actively backing the growth of entrepreneurs with groundbreaking technology for smarter and more sustainable industries.
16. voda 19 januari 2023 06:57

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    Surya Roshni Announces Strong Q3 & 9M FY23 Results
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:10 am
    
    India’s leading pipe maker Surya has declared 194% YoY surge in Steel Pipe and Strips Segment profit for October-December quarter of 2022 with volume growth of 9% led by healthy product mix, ramped up operations at the new DFT technology-based manufacturing at Malanpur and improvement in product mix along with healthy traction in DFT products.
    
    ----------------------------------
    
    October-December Quarter
    
    Revenue - INR 1,626 crores, down 2% YoY
    
    EBITDA - INR 136 crores, up 92% YoY
    
    EBITDA per tonne - INR 6,733, up 76% YoY
    
    PBT - INR 104 crores, up 194% YoY
    
    ------------------------------
    
    April-December Quarter
    
    Revenue – INR 4,731 crores, up 5% YoY
    
    EBITDA – INR 286 crores, up 29% YoY
    
    EBITDA per tonne INR 5,190, up 22% YoY
    
    PBT - INR 188 crores, up 59% YoY
    
    Surya Roshni said “In the Steel Pipes and Strips, the topline was affected due to correction in global steel prices. HR coil prices reduced by 18% on an average in current quarter as compared to corresponding quarter. However, EBITDA per tonne improved significantly by 76% on a YoY basis to INR 6,733 in Q3FY23, due to increased share of value-added products. The company remains well geared to accelerate the growth further in the coming quarters.”
    
    With 49 years of Prakash Surya Brand presence in India, Surya Roshni is a leading manufacturer of Structural, Gl, API Grade & Spiral pipes and CR Strips with1.276 million tonne per annum capacity including 0.961 million tonne per annum of ERW Pipes, 0. 2 million tonne per annum of Spiral Pipes and 0.115 million tonne per annum of CR with4 manufacturing locations in Haryana, Madhya Pradesh, Gujarat & Andhra Pradesh.
17. voda 19 januari 2023 06:57

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    • voda

      Lid sinds: 02 dec 2005

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    Cleveland Cliffs & USW File AD Duty Petition for Tin Plate
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:10 am
    
    Duluth News Tribune reported that US’s leading flat steel supplier Cleveland-Cliffs and the United Steelworkers have asked the US government to place anti-dumping duties on tin mill products imported from Canada, China, Germany, the Netherlands, South Korea, Taiwan, Turkey and the United Kingdom and countervailing duties meant to offset subsidies on imports of tin mill products from China. The International Trade Commission will hold judicial proceedings, decide if domestic steelmakers have suffered provable injury from imports and then potentially impose duties to make imports from the offending countries more costly, allowing domestic producers to sell tin products at more profitable price points.
    
    Cleveland-Cliffs is asking for tariffs of 78.29% on Canada, 130.88% on China, 43.64% on Germany, 124.17% to 294.27% on the Netherlands, 13.46% to 110.84% on South Korea, 47.22% to 60.12% on Taiwan, 96.51% to 106.43% on Turkey and 110.81% on the United Kingdom.
    
    The report quoted Cliffs President & CEO Mr Lourenco Goncalves as saying that “There has been a significant surge in unfairly priced tinplate imports flooding the United States over the past two years, and we cannot let this persist. We welcome competition with any and all imported steel as long as our US trade laws are respected, and we will use all the tools at our disposal to remedy the situation.”
    
    Cliffs said “The petitions present evidence that imports of tin mill products from each subject country are being sold in the United States at less than normal value and that imports of tin mill products from China are benefiting from countervailable subsidies. The petitions also show that dumped and subsidized imports from the subject countries have taken sales from the domestic industry and made it impossible to obtain a fair rate of return on domestic operations, putting the future of American made tin mill products at risk."
    
    Cliffs' tin mill products are made at its Weirton West Virginia facility, which employs about 950 people, the company said. It sells about 300,000 net tons of the products, approximately 2% of Cliffs' total steel sales volume.
18. voda 19 januari 2023 06:58

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    • voda

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    ArcelorMittal Spain to Restart Gijon Blast Furnace A in February
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:11 am
    
    Local media has reported that ArcelorMittal Spain is planning to restart blast furnace A at its Gijon mill in northern Spain in February, which was idled in September 2022 due to the uncertain economic scenario and poor market conditions. Media reports quoted company sources as saying that a “We are working on the possibility of restarting BF A with a reduced production rate at the beginning of February.”
    
    On September 29, ArcelorMittal idled Blast Furnace A at its 4.5 million tonne per year Gijon plant in Spain, after 1 September announcement of closure due to strong competition from imports and weak demand. The move followed the steelmaker delaying the restart of its 2 million tonne per year electric-arc furnace at Sestao, Spain, after concluding maintenance in August.
    
    This move takes the number of blast furnace rest to two. According to reports in local media in early January, ArcelorMittal Poland has restarted 2.2 million tonne blast furnace No 3 at its Dqbrowa Gornicza plant as preparations for the shutdown of blast furnace No 2 have begun. The furnace will reach its full production capacity in two to three weeks. Then the multi-week process of stopping production and cooling down the blast furnace to the 2nd stage will start.
    
    However following furnaces are still shut
    
    At the beginning of September, ArcelorMittal also said it would shut down one of two blast furnaces at its Bremen flat steel plant in Germany at the end of September. The two BFs at Bremen have a combined capacity of 3.8 million tonnes per year.
    
    In France, ArcelorMittal has stopped production at its BF3 since September 19, with relining started and due to last six to seven weeks.
19. voda 19 januari 2023 06:59

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    • voda

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    JSW Steel Dolvi Bags IMexI’s Gold Medallion
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:12 am
    
    JSW Steel Dolvi Works has added another feather to its cap. JSW Steel tweeted “We are honored to receive the Gold Medallion Prize from Kaizen Hansei's Integrated Manufacturing Excellence Initiative (IMexI). Kaizen Hansei governs IMexI in collaboration with the KaizenTM Institute South Asia and Africa.”
    
    Kaizen Hansei’s IMexI aims to bring about transformative changes in the participant organizations to expedite their collective zeal to become lean and flexible. How do they do that? Well, first of all, the Kaizen Hansei group believes in the 'continuous improvement’ principle. The business philosophy is extensively practiced by seasoned professionals who have years of experience in driving excellence in the industry. With the assessment committee spearheaded by professionals, each participating team had something or the other to learn throughout the continuous improvement process.
20. voda 19 januari 2023 06:59

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    SARRALLE to Supply 4 Ladle Refining Furnaces to i Rungta Mines
    
    Strategic Research Institute
    Published on :
    19 Jan, 2023, 6:12 am
    
    Spanish steel technology supplier SARRALLE has announced a new order from Rungta Mines for 4 x 45 tonnes Ladle Refining Furnaces for Rungta Mines Chaibasa Plant in Jharkhand in India. The contract signed by Sarralle India with Rungta Mines encompasses the delivery of Engineering, equipment manufacturing, erection on site, commissioning and startup of 4 LRFs.
    
    Sarralle India will manufacture entirely the equipment in its workshop at Uluberria, but also will execute the erection and the commissioning of them as it has done last year with 2 x 35 tonnes Ladle Refining Furnaces for the same customer in Chaliyama Plant.