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1. voda 22 november 2013 16:16

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   Goldman sees significant losses for iron ore and gold in 2014
   
   According to Goldman Sachs Group Inc, iron ore, gold and copper will probably drop at least 15% next year as commodities face increased downside risks even as economic growth in the US accelerates.
   
   The risks are strongest for iron ore, and follow increases in supplies, analysts including Jeffrey Currie wrote in a report yesterday that identified the New York-based bank’s top 10 market themes for the coming year.
   
   Price pressures will mostly become visible later in 2014, the analysts wrote, forecasting that bullion, copper and soybeans will decline to the lowest levels since 2010.
   
   Commodities as tracked by the Standard & Poor’s GSCI Index lost 5% this year, led by declines in corn, as supplies surged and precious metals, on expectations the Federal Reserve will taper stimulus. Goldman described the forecast losses for iron ore, gold, soybeans and copper as significant and said that they could help weaken currencies in producing countries including the Australian dollar and South African rand.
   
   Source – Bloomberg
   
2. voda 22 november 2013 16:18

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   ArcelorMittal buys hydrogen generators
   
   Industrial gas specialist Air Products announced that it had signed a deal to supply steel giant ArcelorMittal with three hydrogen and one nitrogen generator for a plant in France.
   
   Air Products will provide ArcelorMittal’s operational Saint Chély d’Apcher plant in Southern France with three Prism PHG100 hydrogen gas generators and a high-purity Prism GN700 nitrogen generator.
   
   The Prism PHGs convert steam and lighter hydrocarbons, such as methane, into hydrogen and carbon monoxide, and provide an alternative source of industrial gas supply to trailers (bulk hydrogen) for supply to customers in remote locations.
   
   As the Saint Chély d’Apcher plant is not suited for the storage of large amounts of gaseous hydrogen, Air Products’ on-site modular concept of three hydrogen generators has proven an attractive alternative.
   
   The system has been designed with flexibility in mind and will operate at the required capacity even when one of the generators is off-line. Each generator can operate at 50% capacity, therefore offering flow rates from 50 Nm3/h up to 300 Nm3/h.
   
   In addition to hydrogen, Air Products is supplying the plant’s nitrogen requirements through a PRISM cryogenic generator using a unique technology of distillation to produce high-purity nitrogen. To ensure continuous supply of the gas, two nitrogen backup storage tanks and four vaporisers have been installed to support the generator.
   
   Both hydrogen and nitrogen are used during the heat treatment of grain oriented electrical steels, which, among other uses, are used in electric engines and wind turbines.
   
   Source - processengineering.theengineer.co.uk
   
3. Candelll 23 november 2013 09:24

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   Buys and sells
   The interesting moves that SAC Capital made in its last quarter include establishing new positions in online game specialist Zynga (NASDAQ: ZNGA ) and railroad supplier Trinity Industries (NYSE: TRN ) and selling out of its stake in steel giant ArcelorMittal (NYSE: MT )
   
   www.fool.com/investing/general/2013/1...
4. voda 23 november 2013 15:32

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   Tackling overcapacity in Chinese steel industry
   
   Tackling China's problems with industrial overcapacity, especially in the iron and steel industries will likely become a priority for the new Chinese leadership, which unveiled part of its first policy and reform blueprint this week. Mr Li Dong has the details.
   
   Tangshan, which is located just 200 kilometers from Beijing, gained notoriety this year after earning a place on a list of the top 10 most polluted Chinese cities for nine consecutive months.
   
   The dishonorable title has upset the municipal government, and the city is now determined to control the pollution and transform its industrial structure, which has relied heavily on steel, cement and coke production in the past decades.
   
   Iron and steel overcapacity is the main cause of the heavy pollution in Tangshan, and the city is just one of the many nationwide whose economy relies on high discharge enterprises.
   
   Unordered production and competition is not only bringing severe pollution problems, but also harming the industry itself. However, many factories are still in production, leaving massive inventories deposited in open sites for one to two years.
   
   A steel business dealer is really frustrated. His company is struggling to survive. He said that "The whole steel business has really hit rock-bottom. I have no idea how much longer I can hold on. The inventory is dealt at a price even lower than its cost price, otherwise, they are just piles of rubbish."
   
   Mr Hu Xuefa general manager assistant of Shanghai Bao Steel Group explains the reasons behind the overcapacity of the entire industry. he said that "Steel and iron industry heavily rely on its assets, which means the fixed cost of the industry is very high. Once the steel factories stop production, the more money they lose. The price of iron and steel products is already very low. But as long as there is still a little net profit, they will keep the factory running. It takes time for the whole industry to step back to the track. Who can survive really depends on how much cash they have to back them up."
   
   The profit from a tonne of steel was worth the price of a cell phone several years ago, but official statistics shows it dropped to just 0.43 yuan in the first half of this year due to serious overcapacity and sluggish demand.
   
   China's State Council, the country's cabinet, is tackling the production overcapacity problem. Li Xinchuan, vice secretary general of the China Iron and Steel Association says, the industry should seize the opportunity and build a long-term healthy development mechanism.
   
   "The State Council has just issued a new guidance on resolving overcapacity. The goal is to build a market oriented competition mechanism and environment. Besides, the transition and elimination process should follow certain orderly procedure and make sure the laid-off workers and debt problems are properly dealt with. It is time for the industry to build a long-term mechanism and maintain a healthy development mode, which is to balance profit-making with environmental protection."
   
   China's top economic planners estimate that China produces about 20% more steel output than it needs. As a result, the central government has halted approvals of new production capacity unless it replaces less efficient capacity or leads to higher-value steel products.
   
   Source - english.cri.cn
   
5. voda 23 november 2013 15:33

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   worldsteel promotes green manufacturing in China
   
   The World Steel Association co hosted with the China Iron and Steel Association and the China Council for the Promotion of International Trade, Automotive Industry Committee (CCPIT-Auto) a major one day conference on "Green Manufacturing, the Future of Steel and Automotive". Held at the Sheraton Guangzhou Hotel, the conference was opened by Joon-Yang Chung, Chairman of worldsteel and Chairman and CEO of POSCO.
   
   CISA Chairman Lejiang Xu delivered a welcome speech and the keynote speaker Jimin Zhu, Executive Vice Chairman of CISA, addressed delegates on the current market and policy trends of the steel industry in China.
   
   Over 140 representatives of the automotive and steel industry listened to presentations addressing Life Cycle Assessment as the key to future environmental management.
   
   Mr Edwin Basson director general of worldsteel said that “With the increasingly stringent emissions and crash safety requirements around the world, the automotive industry will be constantly looking for ways to meet the opposing challenges of lightweight vehicles that improve crash safety and reduce environmental impact. Therefore, it is critical for steel producers to work with car manufacturers in optimising design for both steel applications and future steel vehicles. The steel industry has taken the responsibility to lead the way in demonstrating the use of steel and life cycle assessment to reduce a vehicle carbon footprint and has invested more than $US80 million in future steel vehicle design.”
   
   “We believe that a life cycle assessment of emissions is critical to a complete picture of a vehicle carbon footprint. It will primarily assist automakers in evaluating and reducing their total energy consumption as well as greenhouse gas emissions throughout the product’s life cycle. The introduction of LCA in vehicle emissions regulations is a step forward for green manufacturing.”
   
   Mr Cees ten Broek director of WorldAutoSteel said that “We are committed to helping our customers to meet mass reduction challenges using steel. The steel industry continues to develop new generations of steel that are stronger, lighter and form easily to meet future requirements. We are continually reinventing steel and this is why advanced and ultra-high-strength steels have emerged and grown to become the fastest growing materials in the automotive sector.”
   
   "Steel provides a nearly limitless number of combinations of grades and gauges that allow engineers to place specific materials exactly where they are needed in a car body structure. No other material offers that kind of flexibility.”
   
   China Council for the Promotion of International Trade, Automotive Industry Committee (CCPIT-Auto) commented that “We believe that the unique properties of steel enable it to continue to be the optimal material choice for the automotive sector in the next decades. We are delighted to see that our partners in the steel industry have been making substantial progress in advancing the performance of steels which will support the automotive industry’s drive towards green manufacturing.”
   
   Source – Strategic Research Institute
   
6. voda 23 november 2013 15:34

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   Spot iron ore eyes first drop in four weeks
   
   Reuters reported that spot iron ore prices are on track for a modest decline for the week, after three weeks of gains, on limited buying interest from Chinese mills that are wary steel demand is unlikely to perk up anytime soon.
   
   Steel prices in China, the world's biggest consumer and producer, have fallen more than 5% in the past two months and have remained weak in November. Industry pricing leader Baoshan Iron and Steel had kept prices flat for December, suggesting it was not confident demand would recover.
   
   A Shanghai based iron ore trader said that "Mills are not running slim on inventory and I feel that prices should drop because fundamentals are quite weak. Benchmark 62% grade iron ore for immediate delivery in China's Tianjin port .IO62-CNI=SI eased 10 cents to USD 136.30 a tonne. Iron ore prices down 0.4% so far this week, have been stuck in a tight USD 131 to USD 138 since September.
   
   The Shanghai trader said that we are already overstocked because we have crossed half a million tonnes of cargo, but there's no need for us to panic given that the market's been really stable. So we're just waiting for better offers.
   
   Inventories of imported iron ore at major Chinese ports rose last week to top 80 million tonnes amid higher seaborne supply reflecting more output from main suppliers Australia and Brazil.
   
   Commonwealth Bank of Australia said that in our view, it's entirely possible the combination of slowing Chinese domestic iron ore supply and the pre winter steel mill iron ore restock cycle can support iron ore inventories at average to tight consumption ratios, hence supporting prices.
   
   Bank said that but the creeping growth in seaborne supply over coming months cannot be ignored. It's for this reason we expect iron ore prices to ease gradually over coming months towards levels around USD 115 per tonne to USD 125 per tonne.
   
   The most traded rebar contract for May delivery on the Shanghai Futures Exchange was nearly flat at CNY 3,624 per tonne by 0315 GMT, on course for a modest weekly gain.
   
   Source – Reuters
   
7. voda 23 november 2013 15:39

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   Japanese crude steel output in October up by 7.7%
   
   According to the data released by the Japan Iron and Steel Federation, in October this year, Japanese crude steel production was up by 2.5% compared to the previous month, while it increased 7.7% year on year, totaling 9.52 million tonne.
   
   Meanwhile, in October this year Japan's pig iron production totaled 7.17 million metric tonnes, increasing by 5.6% compared to the same month last year and up 3.4% month on month.
   
   In the January to October period of this year, the country's pig iron output stood at 69.97 million metric tonnes, rising by 2.7%, while its crude steel production came to 91.95 million metric tonnes, rising by 2%, both compared to the corresponding period of 2012.
   
   Source - Visit www.steelorbis.com for more
   
8. Candelll 24 november 2013 17:27

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   Onderhandelingen tot de finish bij ArcelorMittal
   
   De directie van ArcelorMittal Luik en de vertegenwoordigers van de vakbonden starten morgen onderhandelingen tot de finish over het sociale luik van het herstructureringsplan bij Arcelor. Er moet volgens de wet-Renault een akkoord gesloten worden ten laatste 60 dagen na de afsluiting van fase 1. Dat betekent in dit geval voor 30 november. De duur van de gesprekken kan alleen nog verlengd worden als de partijen daarover een overeenkomst sluiten.
   
   Er zijn elke dag van de volgende week ontmoetingen gepland. De gesprekken zullen zich vooral concentreren op de outsourcing die de directie vraagt en die slaat op meer dan de helft van het aantal personeelsleden die de directie wil laten vertrekken uit het bedrijf.
   
   De directie wil enkel nog 845 jobs behouden na de herstructurering op de zes lijnen die baas Lakshmi Mittal wil openhouden in Luik. Ze wil echter een aantal diensten uitbesteden aan onderaannemers die hun personeel minder betalen dan de mensen die dat werk nu bij ArcelorMittal uitvoeren. De vakbonden verzetten zich tegen deze tactiek. Het personeel protesteerde daar eerder al tegen met een werkonderbreking van 24 uur op de site van Ferblatil.
   
   De vakbonden hopen dat brugpensioen op 52,5 jaar mogelijk zal zijn en ze rekenen ook op een overname van een cokesfabriek door Oxbow. De Amerikaanse groep heeft nochtans vorige week nog drie maanden bijkomende bedenktijd gevraagd.
   
9. GVteD 24 november 2013 21:58

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   ArcelorMittal has the Highest Level of Cash in the Steel Industry (MT, NUE, X, ATI, TX)
   
   Written on Sat, 11/23/2013 - 10:44am
   
   By David Diaz
   
   Below are the three companies in the Steel industry with the highest cash equivalents (CE). Analysts use CE as a measure to compare the cash cushion of companies in the same industry.
   
   ArcelorMittal ranks highest with a CE of $4,000. Following is Nucor with a CE of $2,000. U.S. Steel ranks third highest with a CE of $697.
   
   Allegheny Technologies follows with a CE of $536, and Ternium rounds out the top five with a CE of $484.
   
   SmarTrend recommended that subscribers consider buying shares of U.S. Steel on September 9th, 2013 as our technology indicated a new Uptrend was in progress when shares hit $19.31. Since that recommendation, shares of U.S. Steel have risen 36.5%. We continue to monitor U.S. Steel for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
   
10. Candelll 25 november 2013 08:26

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    Energy initiatives benefit steel maker ArcelorMittal SA
    
    www.bdlive.co.za/business/industrials...
11. voda 25 november 2013 16:34

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    Buy Mittal Steel?
    
    India may have to start importing iron ore soon - Steel Ministry
    
    PTI reported that Indian steel ministry is of the view that India will have to import iron ore in the immediate future to meet significantly increasing demand from domestic companies.
    
    The Steel Ministry has said in a recent presentation to the Planning Commission that "With many projects in the pipeline, both brownfield and greenfield expansion of steel capacity, iron ore requirement will increase significantly leading to imports of iron ore in near future.”
    
    The Ministry in its mid year plan review has identified iron ore availability as one of the challenges to achieve the steel production target of 300 million tonnes per annum by 2025.
    
    With current production capacity of around 90 million tonnes per annum, India needs at least 140 million tonnes iron ore to meet its need. It requires 1.5 to 1.6 million tonnes iron ore to produce one million tonne of steel.
    
    It said that "Domestic requirement of iron ore is increasing with the capacity addition in steel production. Between the 2008-09 and 2012-13 period the demand for iron ore has gone up from 87.4 million tonnes to 124.8 million tonnes.”
    
    India, the world's fourth largest producer of steel after China, Japan and the US, had produced 78.31 million tonnes steel during 2012-13. It is likely to slightly inch up in current fiscal During the January-October period of the current year India produced 66 38 million tonnes steel.
    
    The Steel Ministry also said iron ore production has come down from 213 million tonnes in 2008-09 to 136 million tonnes 2012-13 due to ban on mining in Karnataka and sharp fall in production in Odisha.
    
    The ministry added that "It would require sufficient time for 200 million tonnes plus production (of iron ore).”
    
    Source - PTI
    
12. voda 25 november 2013 16:37

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    Rupee fall pushes TATA group out of USD 100 billion club
    
    PTI reported that salt to software conglomerate TATA group’s combined turnover has slipped below USD 100 billion mark due to a fall in rupee, despite an over ten per cent growth in total revenue when measured in Indian currency.
    
    TATAs have, however, emerged as the country’s first business house to record an annual turnover of more than INR 500,000 crore in rupee terms, while its headcount rose by nearly 88,000 persons to over 5.4 lakh employees in 2012-13.
    
    The group, with over 100 operating companies, saw its total revenue rise by 10.8% to INR 527,047 crore in last fiscal from INR 475,721 crore in previous year.
    
    However, a fall of over 14% in rupee value against the US dollar during the fiscal 2012-13 resulted into TATA group recording a fall of over three per cent in its US dollar revenue during the year.
    
    In US dollar terms, TATAs total revenue stood at USD 96.79 billion in 2012-13, down 3.3% from USD 100.09 billion in the previous year, according to latest financial information published by the group.
    
    Last year, TATAs had become the country’s first and only business house to cross the turnover of USD 100 billion.
    
    The group has used an exchange rate of INR 54.45 for one US dollar for 2012-13, and that of INR 47.53 for previous year.
    
    Source - PTI
    
    
13. voda 25 november 2013 16:38

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    Outlook improves for European steel industry- Moody
    
    According to a new report by Moody's Investors Service, improving fundamentals in the European steel industry, reflected by slight growth in euro area GDP and in the steel end user markets, have resulted in a change of outlook to stable from negative.
    
    The outlook, which had been negative since October 2011, reflects Moody's view of the fundamental business conditions for the industry over the next 12 to 18 months.
    
    Moody's believes apparent steel use, which is a good proxy for end-user demand, in the European Union will be flat to up 1% to 2% in 2014, versus an expected 1 to 2% decline in 2013.
    
    Moody's corporate finance group vice president, senior analyst and report author, Mr Denis Perevezentsev said that "Despite the fragility in the euro area economy recovering, we are seeing the European steel industry starting to benefit from the slight improvement. Next year, we also expect improvements in the steel end-user sectors, such as volumes stabilising at low levels in the building materials industry and some growth in European light vehicle sales which in turn will push demand growth in the steel sector."
    Moody's latest macroeconomic forecast is for euro area GDP growth of 0.5%-1.5% in 2014 versus flat to a 1% contraction in 2013 and there are signs that economic activity may be bottoming out in peripheral states.
    
    In Russia, Moody's forecasts GDP growth of 2.5%-3.5% in 2014 after a slowing to 1%-2% in 2013. The ratings agency expects this to help growth in steel end-user markets.
    
    Source - StockMarketWire.com
    
14. voda 25 november 2013 16:38

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    12 Steps to implement guideline on the resolution of severe steel overcapacity in China
    
    November 17, Mr Zhu Jiming vice chairman of China Iron and Steel Association, stated in the meeting of carrying out Guideline on the Resolution of Severe Overcapacity released by the State Council that CISA will implement the Guideline with 12 steps.
    
    Mr Zhu said that CISA will regard committing the Guideline as its major goal and implementation way of promoting strategic restructuring, improving quality and accelerating the development mode transformation of steel industry. Meanwhile, they will actively explore new mode of the innovative development steel industry in the near future, to fully play its important role in industrial self-discipline and information services.
    
    Mr Zhu pointed out that CISA will put into greater efforts to do the following work well:
    
    1. Cooperating with the government departments to hold back blind expansion of steel capacity.
    
    2. Setting up an early warning system of overcapacity in steel industry.
    
    3. Strengthening self-discipline and coordination work of its member enterprises.
    
    4. Carrying out researches supported by related systems and policies of fiscal and taxation.
    
    5. Reinforcing the connection and cooperation with steel-consuming industries.
    
    6. Accelerating revision of industry standard, promoting the quality of steel products to be upgraded and expediting the renovation of steel products.
    
    7. Assisting government departments to do the adjustment and research work of steel industry layout.
    
    8. Improving green production of steel industry, normalizing and speeding up the elimination of outdated capacity.
    
    9. Studying suggestions and measures of expanding overseas market of steel enterprises.
    
    10. Developing and promoting the momentum of innovation-driven development of steel enterprises.
    
    11. Cooperating with steel enterprises to doing the work of talent cultivation and on-the-job training well.
    
    12. Doing utmost to reflect the demands and appeals of member enterprises.
    
    Source - www.steelhome.cn/en
    China steel information centre and industry database
    
15. voda 25 november 2013 16:40

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    Aperam consortium hikes bid for Outokumpu Italian steel mill - Report
    
    Reuters reported that a consortium led by stainless steelmaker Aperam has raised its bid for Italian steel plant Terni that its competitor Outokumpu has to sell a deal that would reshape the European stainless steel industry.
    
    The consortium, including Italian steelmakers Arvedi and Marcegaglia, submitted the higher bid last week because Outokumpu sees all bids so far as too low.
    
    Finland's Outokumpu agreed to sell the Acciai Speciali Terni plant more than a year ago to gain approval for its purchase of ThyssenKrupp's Inoxum unit.
    
    The plant considered one of Europe's most advanced stainless steel mills is of strategic importance due to its vicinity to steel buyers in Italy, a major steel market, but its profitability has been hard hit by a slump in the steel market.
    
    Loss making Outokumpu faces a massive writedown on Terni, which is valued at more than EUR 560 million on its book but is expected to sell for a fraction of that.
    
    An industry expert said that for Outokumpu all that matters at the moment is getting their debt down but the sale of this plant now will not strengthen their balance sheet considerably. If it strengthens it somewhat they are already lucky. But that plant is a champ in the strategic Italian market and Aperam could get it for a very attractive price.
    
    Source - Reuters
    
16. voda 25 november 2013 16:49

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    Niet bestemd voor AM liefhebbers. :-)
    
    Rio and BHP top the list as Jefferies says buy high quality iron ore stocks
    
    Buy high quality iron ore equities is the advice of broker Jefferies as it gave its assessment of the sector in the wake of rising prices for the metal and seeming rebound in demand from China.
    
    With Chinese steel output remaining high, iron ore inventory levels low and seasonal supply constraints in iron ore likely coming, we remain bullish on iron ore moving into the first quarter.
    
    Jefferies does point to a rise in shipments in recent weeks and months, which would ordinarily see prices ease back. However it reckons the market for higher grade product is still relatively tight.
    
    Based on our analysis, relatively high steel output, lean raw material inventories and seasonal supply constraints (particularly in Australia, Brazil and China) should lead to a much tighter iron ore market in the Q1 of 2014, leading to higher prices.
    
    On this basis it is a buyer of BHP Billiton up to EUR 24 a share and Rio Tinto up to EUR 40, giving respectively 24% and 21% upside compared with the current share prices.
    
    Source - Proactive Investors
    
    
17. Candelll 25 november 2013 16:52

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    rio zit in port.(had ik ook al gelezen), maar post maar door, kom dikwijls artikels tegen die ik niet lees, waarvoor mijn dank.
    ben jij ingeschreven op bloomberg?
18. voda 25 november 2013 16:54

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    Nee.
19. voda 25 november 2013 16:57

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    Ken je deze ook?
    
    Small iron ore operations struggle to compete with big three
    
    Smaller iron ore miners said that they're battling to get a foothold in Australia's iron ore market which is dominated by the three big players, BHP Billiton, Rio Tinto and Fortescue Metals.
    
    Fortescue was locked out of Rio and BHP's railway and ports and had to build its own rail and port network which cost the company billions of dollars. Now it's playing hardball with smaller players like Atlas Iron which wants to use Fortescue's railways and port space so it can expand.
    
    Source - ABC.Net
    
    
20. Candelll 25 november 2013 20:52

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    Topfavorieten ABN Amro
    Maandag 25 november 2013 12:42
    ArcelorMittal en Heijmans zijn topfavorieten bij ABN Amro. De bank is wat minder negatief over Imtech.
    
    Het staalconcern ArcelorMittal en de aannemer Heijmans zijn bij ABN Amro toegevoegd aan de 'conviction calls', de lijst met absoluut favoriete aandelen. Op de lijst hebben PostNL, SBM Offshore, Seadrill, TKH, Umicore en Wereldhave hun posities geconsolideerd.
    
    ABN Amro meent inzake ArcelorMittal dat de staalmarkt het dieptepunt gepasseerd is. De bank verwacht dat de positieve resultatenontwikkeling zich zal voorzetten nu de westerse economieën weer groeien en de vraag naar staal aantrekt.
    
    Verder wijst de bank op de aanzienlijke besparingen die het concern heeft doorgevoerd en die nog gaande zijn, en op de expansie van de eigen mijnbouwactiviteiten. ABN Amro noemt het aandeel ondergewaardeerd. Bij het koopadvies is het koersdoel €15 geplaatst. Ook bij Heijmans is sprake van herstel, met name van de bouw van woningen in Nederland.
    
    Van de beursgenoteerde aannemers profiteert Heijmans het meest. Het bedrijf haalt circa 20% van de omzet uit dit segment van de markt en heeft ook veel grond in bezit. Daarnaast heeft Heijmans fors gesaneerd en slechtlopende onderdelen afgestoten. Voor Heijmans staat het koersdoel op €15.
    
    Imtech is van de lijst van minst favoriete aandelen geschrapt, met name omdat het risico is verdwenen dat het bedrijf niet kan voldoen aan de bankafspraken. De bank meent echter wel dat die afspraken op scherp staan en wijst daarbij op de vertraging van de reorganisatie in Duitsland, de verschuiving van de margedoelstelling naar de toekomst en de nieuwe kostenbesparingen.
    
    Het aandeel blijft op 'verkopen' staan, met koersdoel €2,10. Bij het bepalen van het koersdoel is geen rekening gehouden met de eventuele uitkomst van de heronderhandeling over de kredietcondities. Onder de minst favoriete aandelen bevinden zich verder Nyrstar uit België en Swiss Prime Site (vastgoed.)