ArcelorMittal LU1598757687

Nieuws en info hier plaatsen (deel 4)

1. voda 21 september 2015 16:33

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   Redcar MP Ms Anna Turley delivers five point plan to save 2000 jobs at UK steelworks
   
   Yorkshire Post on weekend reported that delivering a five point plan to Business Minister Anna Soubry, Redcar MP Ms Anna Turley said there were five areas of practical action the Government could take to give the industry a ‘chance to stay alive’ in a fiercly competitve market.
   
   She revealed new statistics which show that the steel industry in the UK is disadvantaged by GBP 431 million per year compared with global competitors as a result of the exchange rate, energy policy costs, air pollution targets and business rates.
   
   The Labour MP asked the minister to fully implement the Energy Intensive Industries Compensation Package, well ahead of its April 2016 launch, which could help plants keep costs down.
   
   A reduction in business rates for industries reliant a significant amount of machinery would also help the sector, and should be in line with rates paid by competitors France and Germany, Anna argued.
   
   She also demanded a more realistic timetable for meeting emissions targets and more support for EU anti-dumping measures to protect against low Chinese steel prices.
   
   After reeling off a list of architectural feats using Redcar steel, including the Canary Wharf development and Wembley Stadium, Ms Turley asked for a commitment from the minister that major public projects use only British steel.
   
   Speaking in the chamber, Anna said: “I ask the minister in desperation to consider the request for financial assistance from SSI so that we can continue to see wages being paid. So we can get the 50,000 tonnes of cargo that is sitting on the dock as we speak a mile down the road to the blast furnace. So the gas can keep pumping, so the coal can load the furnace and the workers can pay their mortgages and feed their families. So the proud tradition of steel making on Redcar can remain the beating heart of our community.”
   
   She added “As I said in my maiden speech there already is a ‘Northern Powerhouse’ – it’s called Teesside. If the Government doesn’t act today we will know their words are hollow.”
   
   Conservative MP Andrew Percy for Brigg and Goole, whose constituency includes Scunthorpe Steelworks, said he shared many of Ms Turley’s concerns about the difficulties facing the industry, and urged the Government to bring forwards its implementation of the compensation scheme.
   
   SSI took over the former Corus Teesside Cast Products plant in 2010 after it was mothballed, and is believed to have spent around £1 billion getting it up and running. The takeover deal valued the business at $469m (£291m). The Teesside plant has the second-largest blast furnace in Europe and slab production capacity of 3.5m tonnes per year, however prices have shrunk from £318 per tonne to £191 per tonne while the Chinese share of the British market has quadrupled.
   
   Source : Yorkshire Post
   
2. voda 21 september 2015 16:34

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   Protest against possible closure of BlueScope Steel continues
   
   Radio Australia reported that more than 1,000 people have joined a rally in Wollongong to protest against the potential closure of BlueScope Steel's major plant in Port Kembla, in the New South Wales Illawarra region. The closure has prompted the Australian Workers Union to call on the Federal Government to introduce protectionist measures to ensure the region's economic future.
   
   AWU South Coast branch secretary Wayne Phillips said the steel industry was a lifeline for people in the Illawarra region. He said “We don't have any other industries to come on online; the steelworks generates a lot of industries and opportunities in Wollongong and Shoal Harbour, Port Kembla and Warrawong. People are extremely angry. People have had enough... this uncertainty of whether the steelworks is going to be here or not is starting to affect people."
   
   The AWU said the union was not in negotiations with BlueScope, but were lobbying the Federal Government for protectionist measures, including the introduction of import tariffs on steel or temporary tax breaks for the company.
   
   Mr Phillips said “We've been reviewing some work practice changes that affect the whole plant. This included sick leave, how work was performed and a number of positions that could be made redundant. It's now up to politicians and the board of BlueScope."
   
   BlueScope Steel has flagged its intention to shed 500 jobs, equating to $200 million in savings, but up to 5,000 could be lost if the mill closes. The company has been struggling, largely due to the regional oversupply and a flood of cheap exports pouring out of China, which produces about half of the world's steel.
   
   Source : Radio Australia
   
3. voda 21 september 2015 16:35

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   Indian steel mills building case for anti dumping duties on HR imports
   
   The Hindu Business Line reported that after getting a temporary relief in the form of 20 per cent safeguard duty on certain types of steel imports, the domestic steel industry has started to build up a case for imposition of anti-dumping duties. Anti-dumping duties are preferred over safeguard duties as these can be applied over a longer period of time and need not be progressively lowered in the period of application.
   
   A Commerce Ministry official told BusinessLine “The domestic steel industry is keen that the government should impose anti dumping duties on imports, but we need data of injury suffered by domestic producers over at least a nine-month period. Moreover, dumping has to be established too by the industry.”
   
   The industry claims that it would not be hard to prove that dumping which means that imports are taking place at prices lower than those prevailing in the home markets of the sellers is taking place. A senior industry official said “While the South Korean and Japanese steelmakers are selling flat products at around $500 a tonne in their home markets, in India, they are selling the same for around $300 a tonne.”
   
   Indian steel producers say that they attempted to sell steel in Korea and Japan, but their tenders were not accepted as these countries were keen on protecting their steel makers.
   
   The industry is now trying to collect the requisite data for imposition of anti-dumping duties and is hopeful that it would have the required numbers over the next couple of months.
   
   Source : The Hindu Business Line
   
4. voda 21 september 2015 19:06

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   Wereldwijde staalproductie gedaald
   
   Gepubliceerd op 21 sep 2015 om 18:54 | Views: 118
   
   BRUSSEL (AFN) - De wereldwijde staalproductie is afgelopen maand met 3 procent gedaald in vergelijking met augustus 2014. Dat maakte brancheorganisatie World Steel Association (WSA) maandag bekend. De totale productie van de 65 aangesloten landen bij de associatie kwam uit op 132 miljoen ton staal.
   
   China bleef veruit de grootste staalproducent. Het land produceerde 3,5 procent minder staal dan een jaar eerder maar nam met 66,9 miljoen ton bijna de helft van het totaal voor zijn rekening. Japan produceerde 8,8 miljoen ton, 5,8 procent minder dan dezelfde maand een jaar eerder. In de VS werd met 7 miljoen ton krap 10 procent minder staal geproduceerd op jaarbasis.
   
   In Duitsland werd juist meer geproduceerd. Het land was goed voor 3,4 miljoen ton, 10,7 procent meer dan in augustus 2014.
   
5. gpjf 21 september 2015 19:17

   auteur info

   • gpjf

     Lid sinds: 13 sep 2004

     Laatste bezoek: 08 feb 2024

   • Aanbevelingen

     Ontvangen: 2033

     Gegeven: 153

   •    Aantal posts: 17.712

   Nou kom maar op met die importbeperkende maatregelen voor dat dumpijzer uit China !
6. Crooswijk 21 september 2015 21:34

   auteur info

   • Crooswijk

     Lid sinds: 04 mei 2009

     Laatste bezoek: 15 apr 2024

   • Aanbevelingen

     Ontvangen: 183

     Gegeven: 120

   •    Aantal posts: 489

   www.iol.co.za/business/companies/arce...
7. voda 22 september 2015 16:14

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   Auto's en staal in uitverkoop
   
   Gepubliceerd op 22 sep 2015 om 15:56 | Views: 546
   Indices
   
   AEX 422,72 -2,33%
   DAX PERF... 9.659,72 -2,90%
   EUR/USD 1,1140 -0,44%
   Gold Wor... 1.123,79 -0,85%
   LONDEN-F... 5.978,87 -2,13%
   NY-DJ-In... 16.309,32 -1,22%
   NY-Nasda... 4.760,58 -1,42%
   
   AMSTERDAM (AFN) - De Europese aandelenbeurzen stonden dinsdagmiddag op fors verlies. Vooral staalproducenten en automakers gingen in de uitverkoop. Bij de autoproducenten zorgde het uitstootschandaal rond Volkswagen voor een verkoopgolf. Staalproducenten als Aperam en ArcelorMittal kampten met een winstalarm bij een Finse concurrent.
   
   De AEX-index op Beursplein 5 noteerde kort na de openingsbel op Wall Street 2,1 procent lager op 423,68 punten. De Amsterdamse hoofdindex staat daarmee weer onder de slotkoers aan het einde van 2014. De MidKap verloor 1,7 procent tot 634,82 punten. De beurzen in Londen, Parijs en Frankfurt raakten tot 2,8 procent kwijt.
   
   Bij de hoofdfondsen op het Damrak was staalproducent ArcelorMittal de grootste daler met een verlies van 5 procent. Altice en DSM completeerden de top 3 van sterkste dalers. In de MidKap bungelde roestvrijstaalproducent Aperam onderaan met een min van 8,5 procent, na een winstwaarschuwing van de Finse concurrent Outokumpu (min 17,7 procent).
   
   Fagron
   
   Grootste stijger was Fagron met een winst van bijna 5 procent. Beleggers waren verheugd dat de Belgische miljardair Marc Coucke zijn belang in de toeleverancier aan apotheken verder heeft uitgebreid.
   
   In Londen zakte mijnbouwer Anglo American 7 procent. BHP Billiton en Rio Tinto daalden tot 4 procent. Grondstoffenhandelaar Glencore ging bijna 12 procent onderuit, Antofagasta zakte 7,1 procent.
   
   Volkswagen
   
   Volkswagen (VW) leverde in Frankfurt ruim 17 procent in. Het bedrijf liet weten alvast 6,5 miljard euro opzij te zetten in verband met het dieselschandaal, dat inmiddels ook in Zuid-Korea en Duitsland wordt onderzocht. De Duitse autobouwer heeft gesjoemeld met systemen die de uitstoot van zijn dieselauto's meten. VW zag maandag al bijna een vijfde van zijn beurswaarde verdampen vanwege een mogelijke miljardenboete in de Verenigde Staten.
   
   Ook andere Europese autofabrikanten stonden onder druk, nadat de Franse overheid opriep een Europees onderzoek te doen naar alle autobouwers. In Parijs verloren Renault en PSA Peugeot Citroën 6 en 7,2 procent. BMW zakte in Frankfurt 4,1 procent, Daimler 5 procent.
   
   De euro was 1,1138 dollar waard, tegen 1,1190 dollar bij het Europese slot maandag. Een vat Amerikaanse olie daalde 2,1 procent tot 45,66 dollar. Brent werd 1,6 procent goedkoper en kostte 48,16 dollar per vat.
   
8. voda 22 september 2015 16:23

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   US raw steel production in Week 38 down by 9% YoY
   
   AISI announced that in the week ending September 19, 2015, domestic raw steel production was 1,706,000 net tons while the capability utilization rate was 71.4 percent. Production was 1,878,000 net tons in the week ending September 19, 2014 while the capability utilization then was 78.1 percent. The current week production represents a 9.2 percent decrease from the same period in the previous year
   
   Source : Strategic Research Institte
   
9. voda 22 september 2015 16:24

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 06 mei 2024

   • Aanbevelingen

     Ontvangen: 82413

     Gegeven: 20955

   •    Aantal posts: 365.189

   NLMK companies reduce environmental impact in H1 of 2015
   
   NLMK Group, Russia’s largest steelmaker and one of the most efficient steel companies in the world, improved environmental performance at its Russia-based assets in H1 2015 against increased production. Steel output in H1 2015 increased by 3% YoY while the environmental impact decreased
   
   Source : Strategic Research Institute
   
10. voda 22 september 2015 16:25

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Severstal introduces new product - Steel Cashmere
    
    Russian steel giant Severstal has introduced a new product: Steel Cashmere. Steel Cashmere is polyurethane coated galvanized steel sheet with the highest degree of resistance to UV radiation. Owing to the increased thickness and greater strength of the polyurethane coating, with prime and top coat layers which are 35-50 mkm thick and the zinc layer, which weighs 180 gsm, the new product is highly resistant to environmental and mechanical impacts, including corrosion. The new product has a highly attractive finish with a slightly textured coating which feels like cashmere.
    
    Source : Strategic Research Institute
    
11. voda 22 september 2015 16:27

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Global crude steel production August 2015 dips 3% YoY
    
    World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 132 million tonnes in August 2015, a -3.0% decrease compared to August 2014.
    
    Region Aug Jan-Aug'15
    
    Total 65 countries 132,337 1,077,582
    
    Asia 91,486 735,438
    
    European Union (28) 12,150 113,834
    
    North America 9,727 75,516
    
    CIS (6) 8,592 67,779
    
    South America 3,782 29,845
    
    Other Europe 2,764 22,958
    
    Middle East 2,161 18,696
    
    Africa 1,166 9,667
    
    Oceania 509 3,846
    
    
    In ‘000 tonnes
    Source – worldsteel
    
    China’s crude steel production for August 2015 was 66.9 Mt, down by -3.5% compared to August 2014. Japan produced 8.8 Mt of crude steel in August 2015, a decrease of -5.8% compared to August 2014.
    
    In the EU, Germany produced 3.4 Mt of crude steel in August 2015, an increase of 10.7% compared to August 2014. France’s production for August 2015 was 1.0 Mt, a decrease of -1.5% compared to the same month in 2014. Italy produced 1.0 Mt of crude steel in August 2015, up by 1.3% on August 2014.
    
    Turkey’s crude steel production for August 2015 was 2.6 Mt, down by -11.8% on August 2014.
    
    In August 2015, Russia produced 6.0 Mt of crude steel, down by -3.2% over August 2014. Ukraine produced 1.9 Mt of crude steel, up by 8.6% compared to the same month in 2014.
    
    The US produced 7.0 Mt of crude steel in August 2015, down by -9.7% compared to August 2014.
    
    Brazil’s crude steel production for August 2015 was 2.8 Mt, a decrease of -5.4% on August 2014.
    
    In the Middle East, Iran produced 1.2 Mt of crude steel in August 2015, down by -6.2% compared to the same month last year.
    
    The crude steel capacity utilisation ratio for the 65 countries in August 2015 was 68.0%. This is -3.6 percentage points lower than August 2014. Compared to July 2015, it is -0.4 percentage points lower.
    
    Source : WorldSteel, Crude Steel
12. voda 22 september 2015 16:29

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Fire breaks out at ArcelorMittal long steel mill at Piracicaba in Brazil
    
    ArcelorMittal’s long steel mill in the city of Piracicaba, in the state of Sao Paulo, is operating normally, the company said, after a fire broke out a mill’s cooling tower this Sunday.
    
    According to a local firefighters force, the blaze started at 12:40 pm Brazilian time and was fully controlled in 30 minutes by the company’s own firefighting team.
    
    ArcelorMittal said there were no injuries and the mill is operating normally. The company said it is investigating the causes of the fire, but it said the incident might be a result of a short circuit.
    
    Earlier this year, at the Brazilian Steel Congress in Sao Paulo, the company announced it would idle in August a 500,000 mt laminator at its long steel mill in the city of Piracicaba, in the state of Sao Paulo.
    
    According to Jefferson de Paula, head of Long Carbon Central and South America at ArcelorMittal, the company is also analyzing the possibility of idling another laminator, as the domestic market for long steel in Brazil isn’t expected to grow in 2015.
    
    Source : SteelOrbis
    
13. voda 22 september 2015 16:31

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Australian steel industry needs urgent help – Mr Rorris
    
    WA Today reported that imagine Australia, an island nation, without the capacity to make steel. That isn't a hypothetical scenario. The future of the Port Kembla Steelworks, the centre of Australian steel making, and thousands of families in the region hangs in the balance. BlueScope Steel says it wants to cut AUD 200 million annually from its operational costs to avoid closure.
    
    But the truth is bigger than simple cost cutting. The steel crisis is an international phenomenon and has been caused by a massive oversupply and the dumping of sub-cost steel. Around the world, steel-producing nations have responded with a suite of measures. These include a mix of public procurement policy, restructuring, operational cost cutting and, critically, emergency measures usually in the form of temporary tariffs, duties and safeguards.
    
    One would have expected Australia to follow suit, a relatively small producer, badly exposed to a relentless and aggressive dumping campaign by international state-backed steel makers. On this note, the South Coast Labour Council wrote to Treasurer Joe Hockey, calling on him to exercise his powers and apply emergency safeguard tariffs, allowable under the WTO rules for exactly the situation that the Australian steel industry finds itself in.
    
    If the imminent threat of losing your steel-making industry and the dumping of sub-cost steel does not warrant emergency safeguards, what does? After all, losing your steel industry is not the same as losing the Ashes. You can't come back next year and have another go at getting it back.
    
    Unfortunately, Australians are yet to see any action from the federal Coalition. Moreover, the reaction from the free trade admiration society in Australian politics has been predictably dismissive, though cautious. That's because they know the weight of international opinion and action is against them and that the free trade narrative doesn't stack up when the rest of the world is doing exactly the opposite.
    
    To put it mildly, steel industry policy is an inconvenient piece in the free trade jigsaw puzzle. It just doesn't fit. Let's take BlueScope's mantra, parroted by some political representatives, that the industry – read the company – can be saved "without tariffs or subsidies". The answer, they argue, lies with a harder anti-dumping regime and state government "assistance".
    
    Government in Australia is reluctant to act, preferring to watch the action from the sidelines while the pain and heavy lifting is done by the workers and their communities, who will pay with their jobs and living standards. While cuts and restructuring may be a necessary and inevitable part of the steel maker's response, it won't, on its own save the industry because it doesn't tackle the root cause of the problem, which is the dumping of steel.
    
    That needs to be done with immediate and effective measures by way of temporary and targeted tariffs. We know that tariffs have consequences, but if they don't work why would the United States, the European Union, India, South Africa and the rest of the world impose them?
    
    Flimsy arguments simply will not wash with the tens of thousands of people who will be hit hard by a closure of the steelworks – arguments like the dangers of permanent high tariff walls and inefficiency in the "medium and long term". If we haven't got a steel industry in the short term, the medium and long term are rather academic. It's like denying a cancer patient life-saving chemo because it is toxic to the body.
    
    Politicians have to lose some ideological baggage and face the fact that we don't live in a first-year economic textbook. And no, we can't press the reset button on the computer modelling program if we get it wrong. This game is for keeps and it is time the government and all sides of politics started playing a more active role in the interests of the people. Nothing more and nothing less than other governments across the world have already done.
    
    Arthur Rorris is the secretary of the South Coast Labour Council, a peak body with 29 affiliated unions covering more than 50,000 workers including the Port Kembla Steelworks.
    
    Source : WA Today
    
14. voda 22 september 2015 16:32

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    EU sets minimum price and duties on imports of CRGO electrical steel
    
    Reuters reported that the European Union will set a minimum price for imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, while retaining the right to impose tariffs, according to sources familiar with the case.
    
    The European Commission in May set provisional tariffs of 21.6 to 35.9 percent on imports of grain-oriented flat-rolled electrical steel (GOES) following a complaint lodged in June 2014 by the European steel producers association, Eurofer.
    
    After further investigation, the Commission has concluded that prices did in fact increase from mid-2014 and that new energy efficiency regulations would likely lead to further price rises. Simple imposition of duties, it said, could harm users, such as Siemens and ABB which make electricity transmission and distribution equipment if the price rises were sustained.
    
    The Commission proposes a minimum price of between 1,536 and 2,043 euros per tonne according to the grade. If imported at these minimum prices, no duties would apply. However, if the import price is below the minimum, duties would apply on the difference between the two.
    
    The definitive duties proposed by the Commission, which would normally continue for five years, would be between 21.5 and 39.0 percent and be set by mid-November.
    
    The proposed rates are 21.5 percent for imports from China's Baosteel and 36.6 percent for Wuhan Iron and Steel Corp, and of 22.5 percent from South Korean producers such as Posco. The rate for U.S. producers including AK Steel is 22.0 percent and for Russian firms, such as NLMK, 21.6 percent. Nippon Steel and Sumitomo Metal Corp face duties of 35.9 percent and JFE Steel Corp and other Japanese companies will pay a rate of 39 percent.
    
    Source : Reuters
    

    Bijlage:
15. voda 23 september 2015 16:23

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    ArcelorMittal knapt Spaanse fabriek op
    
    Gepubliceerd op 23 sep 2015 om 15:47 | Views: 793
    
    AVILÉS (AFN) - ArcelorMittal investeert meer dan 100 miljoen euro in een opknapbeurt voor zijn cokesovenbatterijen bij de Spaanse stad Gijon. Dat maakte het staalconcern woensdag bekend.
    
    De operatie, waar naar schatting twee jaar overheen zal gaan, moet ervoor zorgen dat de fabriek volledig voldoet aan nieuwe milieunormen die in 2016 van kracht worden.
    
16. voda 23 september 2015 16:44

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Baosteel NSC Arcelor Automotive JV commissions HDG line
    
    Shanghai-based Baosteel-NSC/Arcelor Automotive Steel Sheets Co Ltd, a subsidiary of Chinese steel giant Baosteel, has commenced production with its newly constructed 4GA hot dip galvanized production line, as announced by Baosteel.
    
    Construction of the production line in question started on November 20, 2013 and was completed two and a half months ahead of the schedule. The new production line will be able to produce 420,000 mt of high-strength hot dip galvanized steel per year.
    
    Source : SteelOrbis
    

    Bijlage:
17. voda 23 september 2015 16:45

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Thai bank SCB boosts provisions on loans to steel firm SSI
    
    Reuters reported that Thailand's Siam Commercial Bank said it has set aside up to 11 billion baht ($307.86 million) in additional provisions in the current quarter on loans made to loss-making Sahaviriya Steel Industries and its subsidiaries. The disclosure on Monday by SCB, Thailand's third-largest lender, of the new provisioning means two other major Thai banks that have extended large sums as loans to SSI could also be announcing additional provisions, analysts said.
    
    SCB, Krung Thai Bank and Tisco Bank gave syndicated loans of about 44 billion baht to SSI, Thailand's largest steelmaker, to acquire a British steel mill in early 2011. The mill, now a unit of SSI, said on Friday it was halting operations at its Redcar plant in northeast England, citing a sharp decline in steel prices.
    
    SCB said in a statement the significant additional provisions were for the 22 billion baht in loans related to SSI and its subsidiaries. The provisions were in the range of 10-11 billion baht, and the loans to SSI's UK subsidiary would be fully provided, assuming no collateral value, it said.
    
    SSI loans are currently classified as special mention loans by the lenders. If the debts turn into non-performing loans, they will significantly increase the bad debts of the overall banking sector, which faces weak lending growth this year due to a sluggish economy, analysts said.
    
    Source : Reuters
    
18. voda 23 september 2015 16:50

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    Kazakhstan to commission rail and structural steel plant
    
    KAZINFORM reported of Kazakhstan plans to commission the Aktobe rail and structural steel plant in December 2015, the message of the Development Bank of Kazakhstan said.
    
    A laboratory for quality control of rails and structural shapes began operating within the framework of this project. The laboratory will become the first assessment center in Kazakhstan performing tests of rails and structural shapes prior to commissioning. A comprehensive check of the quality of products on 16 key parameters will be conducted on the basis of the testing laboratory, namely: the fluidity, strength, chemical composition, hardness, length, viscosity and so on.
    
    It said “Automated equipment manufactured in Europe allows to implement a complex metallographic, macrostructural and physical-mechanical study of materials. In the future, the laboratory can certify not only rail and structural steel plant products, but also other manufacturers of steel products."
    
    The total project cost for the construction project of the plant is $412.6 million, and more than 60 percent of the required funding has been allocated by the Development Bank of Kazakhstan for up to 10 years, trend.az reports.
    
    Currently, the company carries out start-up activities. The plant will produce 430,000 tons of steel annually, including 200,000 tons of rails for high-speed main railways.
    
    Source : KAZINFORM
    
19. voda 23 september 2015 16:55

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    ArcelorMittal supplies sheet piles to Port of Lerwick in Shetland Islands
    
    Published on Wed, 23 Sep 2015 125 times viewed
    
    ArcelorMittal has supplied 3,200 tonnes of new steel grade AMLoCor© Blue 320 as part of a project to develop Holmsgarth Quay at the Port of Lerwick in the Shetland Islands.
    
    Source : Strategic Research Institute
20. voda 23 september 2015 16:56

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 06 mei 2024

    • Aanbevelingen

      Ontvangen: 82413

      Gegeven: 20955

    •    Aantal posts: 365.189

    39 factories mills shut in Lahore for polluting environment
    
    Pakistan Today reported the Punjab Environmental Protection Department on Thursday sealed 39 factories and mills in northern Lahore during a campaign against environment pollution. Led by District Officer Environment Younis Zahid, a raiding team sealed steel rerolling mills for using old tyres, carbon powder of tyres, coal powder without wet scrubber and for producing tyre powder by extracting oil from old tyres.
    
    According to details, this action was taken on complaints from citizens of northern Lahore.
    
    The sealed mills and factories included 22 steel rerolling mills, 12 charcoal drum melting units, three furnaces, pyrolysis plants and tyre carbons go-downs.
    
    Secretary Environment Iqbal Ahmed Chauhan meanwhile issued instructions for stern action against mills and factories causing pollution. He said factory owners should make arrangements for safe fuel and refrain from using substandard fuel. He said factory owners should install environment-friendly equipment in their mills. He also warned that action would be continued against those factories causing danger to human health and that cases lodged against them would be sent to the Environment Tribunal.
    
    Also Director General Environment Javed Iqbal said no leniency would be shown to factories and mills violating the laws.
    
    Source : Pakistan Today
    

    Bijlage: