ArcelorMittal LU1598757687

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1. voda 11 oktober 2015 15:11

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   Tata Steel registers 6% YoY surge in sales in H1
   
   PTI reported that Tata Steel said its sales have risen by 10 per cent to 2.33 million tonnes in the July-September quarter this fiscal. It had clocked sales of 2.11 million tonnes in the year ago period. In the first half of 2015-16 fiscal, sales grew by 6 per cent to 4.48 million tonnes against 4.21 million tonnes in the same period of 2014-15
   
   Saleable steel production increased by 9 per cent to 2.41 million tonnes in the second quarter of 2015-16 from 2.21 million tonnes in the same quarter of 2014-15. For the April-September period, the output rose by 4 per cent to 4.64 million tonnes from 4.46 million tonnes in the first 6 months of 2014-15.
   
   Crude steel production was 2.51 million tonnes in Q2 2015-16 up by 11 per cent year-on-year and 4.85 million tonnes in the first six months of this fiscal, a growth of 5 per cent YoY.
   
   Tata Steel registered hot metal production of 2.66 million tonnes in July-September 2014-15, a rise of 3 per cent y-o-y and 5.25 million tonnes in April-September, up by 3 per cent YoY.
   
   Source : PTI
   
2. voda 11 oktober 2015 15:12

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   Court approves US Steel plan to cut Canadian unit
   
   The Globe and Mail reported that the Ontario Superior Court has approved a United States Steel Corp. plan to cut loose its Canadian unit, effectively ending an eight-year odyssey that included losses that ran into the billions of dollars, battles with governments, and acrimonious disputes between the Pittsburgh-based giant and its unionized Canadian employees.
   
   US Steel will provide some transition assistance to US Steel Canada Inc under a plan approved by Justice Herman Wilton-Siegel late Friday. The Canadian unit will become independent, but is likely to be put up for sale.
   
   US Steel Canada has been operating under the protection of the Companies’ Creditors Arrangement Act since September, 2014. An effort to sell the company earlier this year failed.
   
   So did mediation, which was unsuccessful at brokering a deal between US Steel, the United Steelworkers union, active salaried employees and retirees, the province of Ontario and the city of Hamilton.
   
   The Canadian unit has debtor-in-possession financing of $75-million to carry on operations, but it faces a revenue hit in the fourth quarter because U.S. Steel has shifted production of high-value automotive contracts to its mills in the United States.
   
   US Steel will make pension payments for the Canadian unit through the end of the year, but health care benefits to about 20,000 retirees and dependents have been suspended.
   
   Justice Wilton-Siegel said he will issue reasons for his decision next week.
   
   Source : The Globe and Mai
   
3. voda 11 oktober 2015 15:19

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   USW continues to push for fair agreement with US Steel
   
   USW announced that USW’s US Steel bargaining committee continued to meet regularly among ourselves and with the company’s representatives during the past week in Pittsburgh. It said “Our meetings have touched on a number of unresolved issues on which we still have significant differences with the company, including contracting out, health care benefits for both active and retired members, as well as safety and health.”
   
   Source : Strategic Research Institute
4. voda 11 oktober 2015 15:20

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   IMH cuts investment plans by 50%
   
   Industrial Metallurgical Holding, the world's largest exporter of merchant pig iron and the leading producer of merchant coke in Russia, reports reducing its capex for 2015 from 9 to 4.6 billion RUR. All scheduled activities within the framework of key investment projects are retained in full.
   
   Source : Strategic Research Institute
5. voda 11 oktober 2015 15:22

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   Lawmakers angry on false hopes for 240 steel workers at SSI coke ovens
   
   ITV News reported that MPs have strongly criticised the Insolvency Service after claiming 240 people who thought they were being kept on at a former steel works were sent home in the middle of their shifts.
   
   The Official Receiver had said 650 people would be kept on to keep the coke ovens working as irreparable damage would be done if they were allowed to go cold. But Ms Turley and Labour colleague Tom Blenkinsop, MP for neighbouring Middlesbrough South and East Cleveland, said they understood that in reality 890 people were kept on. They said 240 workers were sent home in the middle of their shift and told they would be made redundant.
   
   Redcar Labour MP Anna Turley said it beggared belief that staff at the former SSI plant on Teesside had mistakenly been kept on. She said “This beggars belief. It is beyond cruel that 240 people who thought they had a life line to keep their jobs and keep the plant alive are told today that this was a mistake and they aren't needed after all. What are the administrators playing at? How can they make an error of this scale? Why is no one taking account of the human side of this debacle? I don't know how much more these guys can be expected to take."
   
   Tom Blenkinsop MP said “This is disgusting and the Insolvency Service and the Department for Business need to be held to account. It is hard enough to be let go in the first instance after liquidation, but to be kept on and given false hope is quite frankly inhuman. We will be working with Community Union to give these men the justice they deserve."
   
   It was announced on Wednesday that enough coal would be bought to keep the ovens going until at least the weekend while discussions continued about the ovens' future.
   
   Source : ITV News
   
6. voda 11 oktober 2015 15:22

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   South Africa steel imports surge by 57% YoY in January-August
   
   South Africa's primary carbon and alloy steel product imports (excluding semi-finished steel, stainless steel and drawn wire) amounted to 73,485 mt in August this year, decreasing by 47.3 percent compared to July and down two percent from August 2014, according to the customs and excise data released by the South African Iron and Steel Institute (SAISI).
   
   The country's primary carbon and alloy steel product imports during the first eight months of this year amounted to 990,351 mt, increasing by 56.9 percent from 630,961 mt in the corresponding period of 2014.
   
   Of South Africa's total primary carbon and alloy steel product imports in the first eight months of this year, 782,300 mt consisted of flat steel products, up 53.9 percent year on year.
   
   Source : SteelOrbis
   
7. voda 11 oktober 2015 15:23

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   Eco watchdog sues ArcelorMittal over Westmoreland County coke plant pollution in Pennsylvania
   
   The Tribune Live reported that a state environmental watchdog on Thursday sued the world's largest steel company and operator of a Westmoreland County coke plant, claiming the operation has violated state and federal environmental laws hundreds of times since reopening last year. PennEnvironment filed its 46 page lawsuit against steelmaker ArcelorMittal in US District Court in Downtown Pittsburgh.
   
   The non profit advocacy group in August announced its intentions to sue over alleged violations at the Monessen plant located on the Monongahela River.
   
   PennEnvironment's lawsuit states ArcelorMittal filed reports with state and federal regulators showing that between April 2014, when operations resumed after a five-year hiatus, and June 30, 2015, the Mon Valley plant violated emission limits more than 225 times for sulfur dioxide, hydrogen sulfide, particulate matter and opacity.
   
   More than 100 complaints about the plant have been filed with the state Department of Environmental Protection from residents of Belle Vernon, Carroll, Charleroi, Donora, Monessen, Monongahela, New Eagle and Wickerham Manor-Fisher, the lawsuit states. Those included complaints filed by PennEnvironment members.
   
   PennEnvironment wants a federal judge to declare the plant to be in violation of environmental standards, order ArcelorMittal to comply with federal and state laws, implement measures to stop or offset harms to public health and the environment and impose fines up to $37,000 for each day violations occur.
   
   In August, the company admitted that it has had a problem meeting pollution standards.
   
   Source : The Tribune Live
   

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8. voda 11 oktober 2015 15:24

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   Numsa wants South African steel companies nationalised to save jobs
   
   Fin24 reported that the National Union of Metalworkers of South Africa has once again agitated for the nationalisation of steel companies ArcelorMittal, Evraz Highveld Steel and Scaw Metals as they have come under immense pressure amid low steel prices rendering them uncompetitive, putting thousands of jobs on the line.
   
   The nationalisation call is among a number of demands Numsa will express during its march against corruption on October 14.
   
   Addressing journalists on Tuesday afternoon, Numsa general secretary Mr Irvin Jim said government should move with speed and nationalise the companies. The union has for years now been championing state intervention in key sectors, arguing that certain companies should be placed under worker control.
   
   While commending the Department of Trade and Industry for encouraging localisation, Mr Jim was critical of National Treasury, saying it was slow in giving instructions to state owned enterprises, government departments and municipalities. He said “Without those instructions, nothing happens and the dti’s good deeds become just words. We demand that all state-owned enterprises must put together stimulus packages to procure locally and stimulate the South African economy.”
   
   He said the Department of Economic Development had failed to ban the export of scrap metals or to impose an export tax on scrap. He said “This failure has cost us at least seven foundries that are now closed.”
   
   He concluded “It is a question of political will. If we have political will, we can save ArcelorMittal and Highveld.”
   
   Source : Fin24
   
9. voda 11 oktober 2015 15:25

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   Serbia to restart second furnace in sole steel mill - PM
   
   Reuters reported that Serbian PM said that Serbia's only steel plant, the loss-making Zelezara Smederevo, will restart its second furnace this week to boost both its output and prospects for a sale to a foreign investor
   
   Prime Minister Aleksandar Vucic told a news conference "We are proud that we have managed to restart something that was dead, that was shut down.”
   
   Mr Vucic will visit the Smederevo plant on Friday to mark the resumption of production at the furnace, which has a monthly capacity of 75,000 tonnes and was shut down in 2011, his office announced on Thursday.
   
   Earlier this week, Vucic told reporters that a "major Chinese company" was eyeing Zelezara Smederevo and pledged that he would "organise fireworks" if the sale materialises.
   
   The plant which has two furnaces, has been swallowing $120 million per year in subsidies since 2012, when Serbia bought it back from US Steel for $1 to avert its closure and save more than 5,000 jobs. In March, after a sale to US steel firm Esmark collapsed, Serbia selected the Netherlands-registered HPK Engineering BV to run the plant and make it profitable until its privatisation.
   
   Source : Reuters
   
10. voda 11 oktober 2015 15:26

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    Challenging steel market hits steel scrap giant EMR earnings
    
    Insider Media reported that sales have dropped by a tenth to just over GBP 2.5 billion at Warrington based European Metal Recycling after the business was hit by challenges in the global steel market. The scrap metal giant also reported progress in implementing its investment programme but noted that the full impact of this work is yet to be realized in the group's earnings, which fell by 15 per cent to GBP 123 million.
    
    According to its latest set of accounts, EMR posted a group turnover of GBP 2.52 billion in the 2014 calendar year, down by 10 per cent on a year earlier. In a strategic report accompanying the results, the directors said that the drop in sales was largely due to reduced metal prices. EMR's turnover is derived from the company's purchasing, processing and selling of ferrous and non-ferrous scrap metal and associated activities.
    
    The company also reported pre-tax profits of GBP 57 million in 2014, up by 21 per cent on the prior year. But group operating profits fell by 41 per cent to GBP 43 million over the same period. Group earnings ie EBIDTA dropped by 15 per cent to GBP 123 million, which was largely driven by challenging steel markets.
    
    The directors said "The steel markets were characterized by ongoing, relatively lackluster demand. Structural overcapacity continues to exist in the global steel industry in the face of a relatively weak global economy. This was compounded during the year by oversupply of raw materials such as iron ore and as a consequence prices declined in 2014 by over 30 per cent. Global macro-economic events also played a significant role, particularly in the fourth quarter."
    
    The directors added: "Throughout 2014, the group continued its broad investment programme, strengthening and expanding the group's site network and infrastructure in the UK, USA and Europe. Investments included a number of acquisitions and new site developments and the business continues to invest in new plant and equipment to improve operating efficiency and environmental performance. Notable investments have been made in upgrading facilities for ship recycling and in the technology businesses that will enable our vision of zero-waste recycling. The full impact of these investments is yet to be realized in the group's earnings.
    
    The accounts also show that EMR had an average of 2,979 members of staff in 2014.
    
    Source : Insider Media
    
11. voda 11 oktober 2015 15:27

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    Iron ore prices firming as China reopens but analysts see mid USD 30 levels
    
    Even with Chinese buyers on holiday, the price of iron ore rose on Thursday for a second consecutive day. Benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at USD 54.80 a tonne from last lows of USD 53. Iron ore futures in China climbed also as the most traded iron ore for January delivery on the Dalian Commodity Exchange was up 2.6% at CNY 376 a tonne as market players believe that Chinese steel mills will be looking to replenish inventories after a weeklong National Day break.
    
    However, gains could be short lived as a weak steel market is forcing steel mills to curb production, cutting demand for iron ore. Chinese steel prices are being dragged down by continuing weak demand, despite traditional pick up period, and the trend is likely to continue for coming months
    
    On the other hand supply is only growing. Australia's Port Hedland, the world's busiest ore terminal, reported record monthly iron ore shipments of 39.3 million tonnes in September while Brazilian iron ore exports hit 35.6 million tonnes, the best month of the year so far. And then there's Gina Rinehart's Roy Hill which from this month will start ramping up to 55 million tonnes per year
    
    Thus analysts remain bearish. Liberum Capital recently predicted that the rice of iron ore will fall into the mid USD 30s range over next 12 months
    
    Source : Strategic Research Institute

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12. voda 11 oktober 2015 15:32

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    Indian steel consumption in September declines 5.2% MoM
    
    The September numbers from Steel Ministry's Joint Plant Committee's monthly update reflect weakened business sentiment in the month of September with both production and consumption posting MoM dip although the H1 data reflects 4% YoY growth in consumption bringing cheer Indian steel mills although the real estate & infrastructure, which accounts for lions share of steel consumption, is a long way from revival.
    
    Although the real effect of imposition of safeguard duty on HRC in September will be visible in coming months, there was MoM reduction of about 12% in steel imports in September while the imports have surged by more than 40% in H1 of 2015-16
    
    Finished Steel
    
    Head Sep MoM H1 YoY
    
    Production 7.34 -0.8% 45.46 -0.5%
    
    Imports 0.85 -12.5% 5.42 41.4%
    
    Exports 0.30 -17.4% 2.02 -26.2%
    
    Consumption 6.20 -5.2% 39.14 4.1%
    
    Incidentally, integrated steel producers ie SAIL, RINL, Tata Steel, Essar, JSWL and JSPL together produced 23.67 million tonnes in April-September 2015, a growth of 3.3% YoY while others produced 21.47 million tonnes, decline of 1.5% YoY reflecting the increasing market share of ISPs as their newly commissioned mills are ramping up volumes
    
    Source : Strategic Research Institute
13. voda 11 oktober 2015 15:34

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    Reciever to decide fate of Redcar coke ovens on Oct 8
    
    The Northern Echo reported that Redcar’s Coke Ovens will burn until at least the weekend, after more coal was bought to keep Teesside’s industrial flames alight. However, the site’s official receiver is expected to make a decision on October 8 on whether to buy more fuel to keep the ovens ablaze after the weekend. If it doesn’t, and elects to let the 162 ovens burn out, it could spell the end for the entire works, with their ongoing survival maintaining hopes hundreds of jobs can be saved.
    
    Upon making the coal announcement, the Government’s Insolvency Service said the site’s official receiver is still talking to interested parties about the plant’s future.
    
    A spokesman added workers, believed to be about 650 people, are also still being employed to maintain the coke ovens. The spokesman said: “A decision has been made to buy sufficient coal to keep the coke ovens going until the weekend, enabling the official receiver to continue discussions with interested parties about purchasing assets in working order. A decision about buying further coal to keep the ovens operational beyond the weekend will be taken at the end of this week.”
    
    Bosses at County Durham coal firm Hargreaves Services have held talks several times with the receiver, who was appointed after SSI UK was liquidated, but The Northern Echo understands the company has no desire to take ownership of the ovens, the steelworks or manage the site.
    
    The Redcar ovens, which workers say have at least 25 years of life left in them, are capable of producing a million tonnes of coke a year. If the receiver decides to keep the ovens going, even in their loss-making state, it would suggest they have a long-term plan to market the site as a combined blast furnace and coke battery operation. They could also choose to let the coke ovens collapse, putting them permanently out of action, and try to sell the blast furnace on its own, but that would limit its appeal to potential owners.
    
    Source : The Northern Echo
    
14. voda 11 oktober 2015 17:21

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    ArcelorMittal: Buy This Beaten-Down Stock
    
    Oct. 9, 2015 6:11 PM ET | 4 comments | About: ArcelorMittal (MT)
    
    Summary
    
    •Despite weakness in the steel market, MT has been able to improve its bottom line performance, indicating that it's moving in the right direction in a difficult environment.
    
    •MT has a share of 16.7% in the auto market, which will be a growth driver for it due to increasing auto sales across the globe.
    
    •MT is improving its infrastructure base by expanding mine capacity in Canada and relining the blast furnace in Krakow, apart from reducing its cost base by 40% in two years.
    
    •MT is cheap as compared to the overall industry since its price-to-sales ratio is half of its peers, which is another reason why investors should buy it.
    
    ArcelorMittal (NYSE:MT) has lost around half of its market capitalization in the past year on account of various challenges ranging from weak commodity prices to a supply glut prevailing in the steel market. These factors have considerably weighed on its share price as the company's financial performance has taken a hit. For instance, in the last reported quarter, ArcelorMittal's revenue fell 18.4% year-over-year to $16.9 billion.
    
    But, at the same time, I think investors should not ignore the positives about the company. For instance, despite a weak top line last quarter, ArcelorMittal's bottom line had increased to $0.10 per share as compared to $0.03 per share in the same period last year. Moreover, ArcelorMittal looks capable of improving its performance in the long run on the back of an improving automotive market where it holds strong market share. In this article, we will take a look at the reasons why ArcelorMittal can make a comeback in the long run and why this beaten-down stock is a good investment.
    
    The automotive market will drive growth
    
    ArcelorMittal is one of the leading names among automotive steel producers, and as per 2014 records it accounts for approximately 16.7% of the world's automotive steel sheet market. This is good news for the company as the automotive market is expected to display tremendous growth across the globe. For example, in the U.S., automotive growth is expected to remain strong going forward.
    
    This year, auto sales in the U.S. are expected to come in at 17 million at least, a number that will then go up to 20 million in 2018, according to Bank of America analysts. The increase in demand will be driven by a number of factors, including replacement demand for old cars as the average age of cars on roads on U.S. roads is 11.5 years.
    
    Additionally, an improvement in employment conditions in the U.S. and better consumer confidence will lead to better automotive demand going forward. Hence, it won't be surprising to see ArcelorMittal will witness an increase in its addressable market as automotive sales increase. More importantly, growth in the auto market won't be restricted to just the U.S., with the European Union also anticipated to deliver strong growth.
    
    Lower fuel prices have bolstered consumer demand in Europe, while a weaker euro is supporting exports. ArcelorMittal is confident that underlying demand will eventually increase on account of the recent strength of auto sales and a rebound in business confidence, which will in turn support future investment. As a result, ArcelorMittal has maintained its demand forecast for the region, which is expected to increase in the range of 1.5% to 2.5%.
    
    zie bijlage
    
    Source: ArcelorMittal
    
    Additionally, ArcelorMittal also is targeting emerging economies as well where automotive growth is anticipated to remain strong going forward. If we look at the chart given below, it will become evident that automotive growth in emerging markets such as BRICS nations and China will grow at a robust clip in the coming years.
    
    Of course, there is certain weakness in China and Brazil at the moment, but stimulus measures undertaken by the governments could propel growth once again going forward and help ArcelorMittal improve.
    
    Source: ArcelorMittal
    
    ArcelorMittal is taking steps to improve its production
    
    In light of the expected growth in the automotive market, ArcelorMittal is taking steps to bolster its infrastructure. For instance, in order to benefit from the rapidly growing automotive market in India, it has signed a memorandum of understanding with the Steel Authority of India Limited to study the feasibility of an automotive steel joint venture.
    
    On the other hand, the company has made progress at its Canadian mines following a capacity expansion, which will enable it to move its operation toward 30 million tons per annum in the country with minimal capital expenditures. Moreover, with a reduction in the bottleneck in its operations and better cost efficiencies, ArcelorMittal hopes to achieve 40% lower cash costs in 2015 compared to where it was two years back. In fact, management cites that there is further potential for the costs to move below $30 per ton going forward, which will allow it to bolster the margin performance.
    
    In addition, ArcelorMittal will invest in its Krakow-based plant for the relining of the blast furnace 05, which is coming to the end of its life cycle in mid 2016. Once the relining is complete, it will increase Krakow's hot-rolling mill capacity by 900,000 tons per annum, while the hot dip galvanizing capacity will increase by 400,000 tons per annum. Thus, it's evident that ArcelorMittal is taking the right steps to address the opportunity in the end market.
    
    Conclusion
    
    Thus, there are a number of positives about ArcelorMittal that could help it do well in the long run. In addition, the company's valuation is quite attractive as it has a price to sales multiple of 0.13, which is half of the industry average of 0.26. This means investors have to pay a lower price for each dollar of ArcelorMittal's sales as compared to its peers.
    
    Hence, due to a variety of reasons as discussed above, ArcelorMittal looks like a good buy for the long run.
    
    Voor grafieken, zie link:
    
    seekingalpha.com/article/3563216-arce...

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15. [verwijderd] 12 oktober 2015 15:09

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    Het lijkt alsof het slechte nieuws nu versneld naar buiten komt.
    
    De koers van AM en andere staalgerelateerde bedrijven gaan niet meer meteen zuidwaards.
    
    Het laatste bericht, de aanbeveling, is nu nog een van de uitzonderingen, maar zal snel opgevolgd worden wanneer de fondsen de weg omhoog opzoeken en daardoor meer in de picture komen.
    
    Het is goed om een draad met veel info bijelkaar te hebben!
    
    Ga zo door,
    
    Ozzy
    
16. voda 12 oktober 2015 16:27

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    Bedankt Ozzy.
    
    Hierbij, nog voor de volledigheid het PB, met een discutabele titel!
    
    'ArcelorMittal gaat prognose verlagen'
    
    Gepubliceerd op 12 okt 2015 om 12:14 | Views: 6.538
    
    AMSTERDAM (AFN) - ArcelorMittal gaat bij de presentatie van de derdekwartaalcijfers in november zijn winstprognose verlagen. Dat stelde Theodoor Gilissen maandag in een rapport.
    
    Het effectenhuis wijst daarbij naar de productieverhogingen bij grote ijzerertsspelers als BHP Billiton, Rio Tinto en Vale, terwijl de vraag uit China juist zal dalen door een dalende behoefte. China is goed voor meer dan de helft van de wereldwijde staalproductie en koopt bijna 70 procent van wereldwijde ijzererts in, zo merkt analist Joost van Beek op. De vooruitzichten voor een verder prijsherstel van ijzererts en staal zijn dus negatief.
    
    Arcelors prognose van een bedrijfsresultaat (ebitda) van 6 tot 7 miljard dollar over 2015 zal daarom omlaag gaan, aldus de kenner. En de vooruitzichten voor de terugkeer van winstgevendheid in 2016, zoals het concern tot doel heeft, zijn volgens de marktvorser dus somber. Theodoor Gilissen constateert overigens ook dat de winstverwachtingen van analisten voor volgend jaar te optimistisch zijn.
    
    De bank hanteert het advies 'niet aanbevolen' op ArcelorMittal, dat maandag omstreeks 12.10 procent 1,3 procent in de plus stond op 6,04 euro.
    
17. voda 12 oktober 2015 16:33

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    Glencore verkoopt kopermijnen
    
    Gepubliceerd op 12 okt 2015 om 08:24 | Views: 3.628
    
    LONDEN (AFN/BLOOMBERG) - Grondstoffen- en mijnbouwbedrijf Glencore gaat twee kopermijnen, in Chili en Australië, verkopen. Met de opbrengsten wil het concern zijn schuld terugbrengen.
    
    Glencore stond de afgelopen tijd flink onder druk door de dalende grondstoffenprijzen. Topman Ivan Glasenberg kondigde mede daarom een programma aan om de schulden met 10 miljard dollar terug te brengen, tot circa 20 miljard dollar. Naast de verkoop van onderdelen schrapt Glencore dividend en wordt fors gesneden in de kosten.
    
    Het bedrijf zet nu de Cobar-mijn in Australië en Lomas Bayas in Chili in de etalage. Het heeft naar eigen zeggen al verschillende uitingen van interesse van potentiële kopers ontvangen.
    
18. voda 12 oktober 2015 16:43

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    Schnitzer Steel’s Cascade Steel Rolling Mills fined for lack of water testing
    
    Statesman Journal reported that Schnitzer Steel’s Cascade Steel Rolling Mills has been fined $7,099 for violating its water pollution permit. The McMinnville plant stopped performing required monthly sampling for lead and zinc, the state Department of Environmental Quality said in its enforcement letter.
    
    The monitoring has been required under the facility’s National Pollutant Discharge Elimination System permit since 2002.
    
    It said “The regulated system that protects water quality in Oregon is based on complete and accurate monitoring and reporting by permitted pollution sources,” the agency wrote. “When permittees fail to comply with these obligations, the public and DEQ are denied the information needed to determine whether permittees are complying with their permits. DEQ considers these requirements to be among the most serious of violations.”
    
    The company now is monitoring as required, said Colin Kelly, public affairs director for Schnitzer Steel in Portland, the facility's parent company. Kelly said "Cascade Steel Mill discovered a monitoring oversight as part of an internal review, immediately notified DEQ and corrected the discrepancy. Controls have been developed to ensure an oversight like this does not happen in the future."
    
    The company has until Oct. 22 to appeal the penalty.
    
    Source : Statesman Journal
    
19. voda 12 oktober 2015 16:46

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    Tata Steel detailed results for Q2 and H1 of 2015-16
    
    Tata Steel Limited registered Hot Metal production of 2.66 million tonnes in Q2 (up by 3% y-o-y) and 5.25 million tonnes in H1 (up by 3% y-o-y). Crude steel production was 2.51 million tonnes in Q2 (up by 11% y-o-y) and 4.85 million tonnes in H1 (up by 5% y-o-y). Saleable Steel production increased by 9% y-o-y in Q2 (to 2.41 million tonnes) and by 4% y-o-y in H1 (to 4.64 million tonnes). Deliveries were 2.33 million tonnes in Q2 (up by 11% y-o-y) and 4.48 million tonnes in H1 (up by 6% y-o-y).
    
    Source : Strategic Research Institute
    
20. voda 12 oktober 2015 16:48

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    EU moves ahead on duty on electrical steel CRGO imports – Report
    
    Bloomberg reported that European Union governments cleared the way for five year EU trade protection against electrical steel from the US, Russia, Japan, China and South Korea in a bid to curb competition for producers in the bloc such as ArcelorMittal and ThyssenKrupp AG, according to two people familiar with the matter.
    
    Trade representatives from the 28 nation EU gave the green light on last Thursday in Brussels to a European Commission proposal to impose minimum-import prices on American, Russian, Japanese, Chinese and Korean shipments of grain oriented electrical steel or GOES or CRGO until late 2020, the people said on condition of anonymity because the deliberations were private.
    
    The measures on this niche steel product, which is used in power transformers, are meant to punish exporters in the five countries for allegedly having sold it in the EU’s EUR 400 million market below cost, a practice known asdumping.
    
    The five-year protection, due to be published by November 14, will follow provisional European measures introduced in May that took the form of ad valorem duties as high as 35.9 percent.
    
    Under the system of minimum-import prices, GOES sold below the price floors would be subject to EU tariffs. The duty rates would amount to the difference between the minimum prices and any lower import prices.
    
    Source : Bloomberg