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1. voda 28 april 2017 15:46

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   US President orders review of national monuments to open land for drilling and mining
   
   The Sydney Morning Herald reported that US President Donald Trump signed an executive order on Wednesday to identify national monuments that can be rescinded or resized part of a broader push to open up more federal lands to drilling, mining and other development. The move comes as part of Mr Trump's effort to reverse a slew of environmental protections ushered in by former President Barack Obama that he said were hobbling economic growth an agenda that is cheering industry but enraging conservationists.
   
   US President's executive order would review tens of millions of acres of federal land designated as national monuments, as part of a push to open up more lands to drilling, mining and other development.
   
   Mr Trump signed the order at the Interior Department in Washington, saying that his predecessors' use of the 1906 Antiquities Act to create monuments marked an "egregious abuse of federal power" allowing the federal government to "lock up" millions of acres of land and water.
   
   Mr Trump said that "Today we're putting the states back in charge,saying they should decide what areas of land should be protected and which should remain open for development.”
   
   The monuments covered by the review will range from the Grand Staircase created by President Bill Clinton in 1996 to the Bears Ears created by President Barack Obama in December 2016, both in Utah.
   
   Interior Secretary Ryan Zinke told reporters late Tuesday that Mr Trump's order would require him to conduct the review of around 30 national monuments created over the past two decades, and recommend which designations should be lifted or altered.
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   Mr Zinke said he would seek local feedback before making his recommendations, and added any move by Mr Trump to ultimately reverse a monument designation could be tricky. He said that "It is untested, as you know, whether the president can do that.”
   
   Source : The Sydney Morning Herald

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2. voda 28 april 2017 15:48

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   CSN resumed iron ore exports using alternate port – Report
   
   Reuters reported that Brazilian steelmaker Companhia Siderurgica Nacional has resumed iron ore exports using an alternate port while trying to repair damaged equipment in its Itaguai port. A source with knowledge of the matter said that CSN, as the company is known, is temporarily using the Sudeste port, owned by Mubadala Development Co PJSC.
   
   Additional costs incurred in using the alternate port and repairs of damaged equipment are being paid by insurance policies, the source added. An accident on April 15 interrupted CSN's iron ore exports.
   
   Analysts at Grupo BTG Pactual estimate iron ore sales generate about half of CSN's earnings before interest, tax, depreciation and amortization, a gauge of operational profitability known as EBITDA.
   
   The source added that the company intends to resume the exports via its Itaguai port by May.
   
   CSN did not immediately comment.
   
   Source : Reuters
3. voda 28 april 2017 15:53

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   Odisha miners warn of 80 million tonnes iron ore deficit on lease extension delay
   
   Business Standard reported that iron ore mining sector faces a challenge a little down the line, as licences of 250 mines are to lapse in three years from now. Only 50 of these are in operation, producing 80 million tonnes annually, a little over 80% of these in Odisha. This 80 million tonnes supply could be in danger, as no formalities have begun to extend the lease or validity. With steel companies in expansion mode, supply concerns could emerge. The deficit in domestic ore supply after March 2020 is seen at around 80 mt and this could put the brake on expansion in steel making; the government targets an ambitious 300 million tonnes annual output by 2030.
   
   In Odisha, the largest ore producing state, 17 mines are set to run out of operations. Their combined annual capacity is 66 million tonnes. The state's iron ore is predominantly used in value addition within the country, as opposed to the export-oriented ore in Goa and Karnataka.
   
   No road map is ready yet to auction the mine leases going to lapse. Mr R K Sharma, secretary-general, Federation of Indian Mineral Industries said that “We had earlier requested the Government of India to extend the validity of such mines. There will be chaos if these thrown out of operation. Steel plants without captive ore sources will suffer the most; they will have to fall back on import.”
   
   By 2020, the domestic iron ore requirement is pegged at 234 million tonnes, projected to escalate to 447 million tonnes by 2030, when the aim is to reach steel production of 300 million tonnes.
   
   A spokesperson at Essar Steel was far more optimistic, “The government is fully seized of the matter and has already initiated the process to auction iron ore mines and also get these operational. Also, many of the steel companies have captive mines to meet their requirements either fully or partially. Further, in addition to state-owned companies, private miners also meet the requirement of steel companies. In any case the import option is always available if the prices are favourable.”
   
   Under the amended Mines and Minerals (Development & Regulation) Act, the validity of existing non-merchant mines have been extended till end-March 2020 and of captive leases till 2030. Blocks going for auction need to, under the rules, be explored at least up to the G2 level; most of the leases expiring in 2020 have not been. Rule 22 of the Mineral Auction Rules, 2015, stipulate completion of detailed exploration at the G1 level and to prepare a detailed feasibility report over the entire area under the mining lease.
   
   Crisis point
   1. Licences of 250 mines (50 operational) are set to lapse in three years from now
   2. Expiry of mining licences to create iron ore deficit of 80 million tonnes in the country
   3. Iron ore requirement in 2020 pegged at 234 million tonnes, as steel output to cross 150 million tonnes.
   
   Source : Business Standard

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4. voda 2 mei 2017 16:48

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   European steel outlook raised to stable - Moody
   Published on Tue, 02 May 2017
   
   Moody’s Investors Service said in a press release that EU steel producers’ profits are expected to increase over the next 12 months, changing the industry’s outlook to stable from negative. Moody’s Vice President Hubert Allemani stated that "Steel prices have remained at three-year highs since the strong rebound in the first quarter of 2016, alleviating concerns about how long the recovery would last.”
   
   He continued that "While European prices may soften during the second half of this year because of a retreat in the cost of raw materials and seasonality, we do not expect a significant decline."
   
   The release noted that steelmaking profits should be supported by construction, the largest steel-using industry in Europe, as well as auto manufacturing.
   
   The agency explained that however, imports into the Eurozone could take away some demand from domestic steelmakers.
   
   Moody's noted that demand remains a key concern for European steelmakers because it is expected to grow less than two percent this year.
   
   Source : Sputnik
5. voda 2 mei 2017 16:50

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   JSW may set up 10 million tonne greenfield steel project in Odisha
   
   PTI reported that after JSW chief Sajan Jindal meeting with Odisha Chief Secretary A P Padhi, JSW said that it might set up a 10 million tnne capacity greenfield steel mill in Odisha, preferably in the location earlier chosen for Posco plant.
   
   Mr Jindal said “We are interested to set up a 10 mtpa steel mill in Odisha. I discussed the matter with the chief secretary.”
   
   Asked whether the company was eyeing on the land near Paradip earlier acquired for Posco project, Mr Jindal said "Posco site is one of the possibilities. We are examining locations in different places including one near Paradip."
   
   Earlier last year, Jindal after a meeting with chief minister at a businee meet in Bangaluru had expressed his desire to set up a mega steel plant in Odisha.
   
   Sources in the state govenrment say that the company is likely to invest INR 50,000 crore for the 10 mtpa steel mill and a 900 MW capacity power plant.
   
   Source : PTI
6. voda 2 mei 2017 16:52

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   Indian domestic steel production to remain high – CARE Rating
   
   Economic Times quoted industry research report by CARE Ratings as saying that domestic steel production is expected to remain high in the current year 2017-18 and is likely to rise by around 8-10%. The report said that however, steel prices may rise going forward as steel producers are expected to face increased cost pressure due to supply disruption and a steep surge in coking coal prices on account of Cyclone Debbie in Australia. The latter accounts for around 70% of India's coking coal requirements that are fulfilled through imports.
   
   Sharing its outlook for steel industry in the current year, the latest report by the agency said government allocation for infrastructure in the union budget 2017-18 is expected to act as driver for construction and infrastructure in the country. Additionally, the National Steel Policy 2017 also aims to raise steel production the report pointed out.
   
   A number of steps by the government are likely to increase domestic steel consumption and thereby production it said. It includes Pradhan Mantri Awas Yojana, Make in India campaign, encouraging use of Made in India steel for various projects and spending in areas like railways, roads and urban development. Domestic producers are also increasing steel producing capacities expecting an increase in demand for steel of account of several initiatives taken by the government.
   
   Incidentally, India's crude steel production grew by 4-5.5% during financial years 2012-14 on year on year basis. It stood at 81.69 million tonne (mt) in 2013-14 and 81.69 mt in 2012-13, while output grew 8.9% to 988.98 mt in 2014-15. In 2015-16 it saw a subdued growth and went up marginally by 0.89% to 89.78 mt, before gaining momentum and rising 9.4% to 89.11 mt in April 2016-Feb 2017 as steel producers raised output backed by government's strong measures like Minimium Import Price to rein in cheaper imports.
   
   Source : Economic Times
7. voda 2 mei 2017 16:53

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   Nippon Steel FY profit dips 13% YoY
   
   Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp announced that its recurring profit for the year ended March slid by 13% to JPY 174.5, hit by higher coking coal costs and held off from issuing earnings predictions for the current year citing volatility on coal and steel pricing.
   
   Nippon Steel's executive vice president Toshiharu Sakae said at a news conference "We can't make reasonable forecast now since it is unclear where prices of coking coal and steel prices are headed. But we'll make various efforts to boost our profit this year.”
   
   He said “Steady steel demand at home and abroad, plans to cut costs by over 50 billion yen, and scheduled price hikes on some products of about 5,000 yen per tonne would help offset heavier raw materials costs.”
   
   Source : Reuters

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8. voda 2 mei 2017 16:54

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   Tata Steel receives green clearance to raise Jamshedpur capacity to 11 million tonnes
   
   PTI reported that Tata Steel, which plans to hike its production capacity of the Jamshedpur facility to 11 million tonnes, has secured a green clearance. Mr TV Narendran Tata Steel MD said that work is going to be done through debottlenecking and is in progress, as they have already received the environmental clearances to reach the 11 million tonne mark.
   
   He also added that, in the previous year they have crossed the 10 million tonne mark, and in Jamshedpur will continue to debottleneck and grow upto 11 million tonnes.
   
   Source : PTI
9. voda 2 mei 2017 16:55

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   Former chairman of BaoSteel Mr Baojun convicted for graft - Report
   
   Reuters reported a court in China on Friday jailed Mr Ai Baojun former chairman of Baoshan Iron and Steel, who went on to become vice mayor of Shanghai, to 17 years for bribery and graft. According to China Central Television, Mr Ai Baojun had used his positions to amass more than CNY 40 million (USD 5.8 million) in assets from 2000 to 2014, a court in the southern city of Zhangzhou ruled.
   
   CCTV added that the court also ruled that CNY 5.8 million of Ai's personal assets be confiscated and returned to Baosteel and to Shanghai city.
   
   Ai was given a lenient sentence due to actively providing details of his crimes, which he accepted and apologized for, the court said, adding that many of the bribes were accepted by relatives without his knowledge.
   
   China's top anti-graft watchdog stripped Ai of his party and state positions in January 2016 after an investigation found him guilty of breaking party discipline rules, as well as the crimes he was sentenced for.
   
   According to his official biography, Ai ran Shanghai-based Baoshan Iron and Steel from 1998 to 2007 before taking up a Shanghai vice mayor post until 2013. He then became head administrator for Shanghai's free-trade zone, the first such zone on the Chinese mainland.
   
   Source : Reuters

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10. voda 2 mei 2017 16:56

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    EU dismisses Russian 'bullying' allegation
    Published on Tue, 02 May 2017
    
    Reuters citing an EU executive reported that an international law firm failed to produce evidence to back up an unusual accusation that EU officials investigating trade dumping had "bullied" managers at big Russian steelmakers.
    
    The European Commission said its Disciplinary Office (IDOC) had decided not to open an inquiry into two staff cited in a complaint made by Dentons last May on behalf of two big Russian steel firms, NLMK and Severstal, both of which have since been hit by punitive tariffs from Brussels.
    
    Commission said in a statement "No elements of proof were found by IDOC, even to justify the opening of an inquiry.It held staff to the highest ethical standards. There was no element of proof put forward by the law firm."
    
    A partner at Dentons' Brussels office, contacted by email, said the firm would not comment before next week.
    
    Source : Reuters
11. voda 2 mei 2017 16:57

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    Latin America crude steel production up by 10%
    
    During the first bimester of the year, Latin America shows a similar level in steel consumption to the one registered during Jan-Feb 2016. For its part, the regional production of crude and finished steel increase 10% and 2%, respectively, versus last year. The regional steel imports represents 33% of Latin-American consumption, 1 point higher than 2016 (32%). The trade balance of the region remains negative, increasing in 2% it deficit vs Jan-Feb 2016.
    
    Production
    Crude Steel. Latin America and the Caribbean produced 10.2 million tons (Mt) of crude steel in Jan-Feb 2017, 10% higher than the volume recorded in Jan-Feb 2016 (9.3 Mt). Brazil is the main producer in the region with 53% of the regional production (5.4 Mt), increasing 10% vs Jan-Feb 2016.
    
    Finished steel. In Jan-Feb 2017, Latin America produced 8.3 Mt of finished steel, 2% higher than Jan-Feb 2016. Brazil was the main producer (3.5 Mt), accounting for 42% of the Latin American output. Mexico came second with 3.1 Mt (37% share of regional output).
    
    Finished steel consumption
    In the same period of 2017, finished steel consumption in the region reached 9.9 Mt, same level that Jan-Feb 2016. Largest increases in consumption -in absolute and percentage terms- were record in Mexico (additional 200 thousand tons (thous tons), an increase of 5%), Brazil (148 thous tons additional tons, up 5%) and El Salvador (107 thous tons additional tons, up 182%).
    
    Conversely, in Argentina finished steel consumption shrank by 43 thous tons, down 6% vs Jan-Feb 2016. While Ecuador, Guatemala, Bolivia, Chile and Peru recorded declines of 42%, 47%, 83%, 12% and 14%, respectively.
    
    From Latin-American`s total steel consumption, 57% corresponds to flat products (5.6 Mt), 44% for long products (4.3 Mt) and 2% to seamless tubes (152 thous tons).
    
    Trade balance
    Imports
    In Jan-Feb 2017, Latin America imported 3.3 Mt of finished steel, up 3% vs Jan-Feb 2016 (3.2 Mt). Of this total, 68% corresponds to flat products (2.3 Mt), 28% for long products (937 thous tons) and 3% to seamless tubes (106 thous tons).
    
    Currently, imports represent 33% of the regional finished steel consumption, which brings about disincentives to the local industry, trade frictions, and threatens jobs.
    
    Exports
    Latin American exports of finished steel reached 1.4 Mt, 4% more that Jan-Feb 2016 (1.4 Mt). Of this total, 49% are flat products (694 thous tons), 39% for long products (557 thous tons) and 12% to seamless tubes (168 thous tons).
    
    Trade deficit
    During Jan-Feb 2017, the region recorded a trade deficit of 1.9 Mt of finished steel. This imbalance is 2% higher than the one observed in Jan-Feb 2016.
    
    Brazil was the only country to maintain a trade surplus of finished steel, 418 thous tons. The largest deficit was recorded in Mexico (-866 thous tons), followed by Colombia (-416 thous tons), Chile (-237 thous tons) and Peru (-234 thous tons).
    
    Source : ALACERO

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12. voda 2 mei 2017 16:58

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    SAIL hopes on developing Tasra coking coal project
    
    Hindu reported that Steel Authority of India Ltd is pinning its hopes on the Tasra project in the Jharia coalfields in Dhanbad, in its bid to secure supplies for raw material that it now has to import in a major way. The proposal for developing this coking coal block of SAIL in the Jharia Coalfield has been readied for placing before the company board.
    
    Despite the fact that the cost of the project, originally conceived in 2009, has ballooned close to 10 times, it is still seen as viable and an important milestone in the steel major’s bid to secure raw material availability, with a 26-year life
    
    Tasra open cast mine is capable of yielding 3 lakh tonnes of prime coking coal in the development stage, in the first year of production (project expected to commence in the second quarter of 2017-18) and 40 lakh tonnes of coal by the fifth year, from which 20 lakh tonnes of coking coal can be produced after washing.
    
    The project is to be developed by Lanco Infrastructure, a mine development operator (MDO) with which SAIL had signed an agreement in September 2013 for developing the project at a cost of INR 400 crore within two years.
    
    Subsequent changes in land acquisition laws thwarted the project’s progress even as it led to a 10-times increase in its cost to the current INR 4,000 crore. The project now also includes a 300 MW power plant.
    
    SAIL needs about 15.5 million tonnes of clean coking coal annually. More than 80% of its requirement is imported while the rest is met from indigenous sources. Imports rise in tandem with the poor quality and unavailability of indigenous coal. The requirement is set to increase to about 20 MTPA once SAIL gets into the 23 million tonnes per annum production stage post-expansion in 2020.
    
    Source : Hindu
13. voda 2 mei 2017 16:59

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    Hyundai Steel Q1 earning more than double
    
    Korea Joongang Daily reported that Hyundai Steel first quarter earnings more than doubled on robust sales of high-end products and cost reduction efforts. Company net profit in the first three months of the year jumped to KRW 341.11 billion (USD 302 million) from KRW 158.58 billion last year.
    
    The company said in a statement that “To offset lower demand from automakers and shipbuilders, the company increased sales of value added products like high intensity reinforced bars.”
    
    It added that high-intensity reinforced bars are mainly used for commercial and residential buildings. Sales of automotive steel and thick steel plates fell due to weak demand from automakers and shipbuilders.
    
    To prop up its bottom line, the steelmaker cut costs by KRW 101.4 billion during the first quarter.
    
    Operating profit climbed 30 percent to KRW 349.68 billion in the January-March period from KRW 269.19 billion a year earlier. Sales rose 22% to KRW 4.57 trillion from KRW 3.74 trillion.
    
    Last week, the company’s larger rival, Posco, also posted solid first-quarter earnings, helped by higher product prices and equity gains from its affiliates.
    
    Source : Yonhap
14. voda 2 mei 2017 16:59

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    Odisha steel makers balk at high iron ore linkage prices by OMC
    
    Business Standard reported that steel industries in the state, especially the ones without captive iron ore assets, are peeved with the steep prices of iron ore offered by the state controlled Odisha Mining Corporation through long-term linkage.
    
    The linkage prices are almost at par with the iron ore sold by OMC through e-auctions. The aggrieved steel companies have asked for a pricing concession, seeking 20 per cent discount on price of iron ore supplied by OMC via long-term linkage. Since the state based steel units are contributing to the economy by way of value addition and employment generation, the price concession is justified, they reasoned.
    
    A senior executive of a steel company sourcing iron ore from OMC said that “Steel units without captive iron ore sources are dependent on merchant miners and OMC for iron ore supplies. Though OMC has policies on pre-emption and long-term linkage of iron ore, they need modification to suit the end-user industries. The steel industries have been requesting for some kind of discounting mechanism in pricing under long-term linkage over the weighted average e-auction price for OMC.”
    
    At the last round of price revision done by OMC (valid till June 7, 2017), price of iron ore lumps were in the band of INR 2,200-2,700 per tonne. The bid price for fines ranged from INR 1,100-1,500 a tonne. Price for long-term linkage was mostly at the same level or tad lower depending on the grade of iron ore offered.
    
    In Odisha, Essar Steel, Visa Steel, Jindal Steel & Power Ltd (JSPL), Bhushan Steel Ltd and MMTC promoted Neelachal Ispat Nigam Ltd (NINL) are amongst the steel industries buying iron ore from OMC through long-term linkage.
    
    Though OMC has drawn a roadmap for higher iron ore output targets and agreed to augment production at its mines, the results have not yet shown up at the ground level. OMC had set a target to achieve a production figure of 20 million tonne (mt) by 2017-18 but it looks challenging given OMC’s current actual annual production hovering around six mt.
    
    Source : Business Standard
15. voda 2 mei 2017 17:00

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    Ezz Steel to holds May rebar prices steady
    
    Amwalal Ghad reported that Egypt’s largest steel producer Ezz Steel announced that it will stablise prices for May at 9,500 Egyptian pounds per tonne (USD 526). Mr Samir Noaman sales manager at Ezz Steel, attributed the decision to the stability in global prices of billet and building materials.
    
    At the end of April, prices of some building materials witnessed some stability, as billet prices stood at USD 410; while scraps fell to around USD 245.95, and shredded scrap prices recorded USD 245.
    
    On April 24t, prices for steel billet across international markets mostly moved down last week amid growing pressure from China and weaker ferrous scrap prices. More and more Chinese traders emerged in the market with short-selling offers amid a collapse in their own local billet prices, while in Turkey deep-sea ferrous scrap import prices crashed in mid-April.
    
    Source : Amwalal Ghad
16. voda 2 mei 2017 17:01

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    Pakistan government urged to lift duty on steel rebar import
    
    The News reported that Construction industry last week urged the government to withdraw anti-dumping and other regulatory duties on import of steel, cement and ceramics. Mr Mohsin Sheikhani chairman of ABAD said the government slapped anti-dumping duty on steel import on the pretext of saving local industry. Mr Sheikhani, in a statement, said imported steel bar price is PKR 55,000 per tonne. But, the local industry is selling the bar at PKR 85,000 per tonne despite the same cost of production.
    
    He said cement makers are minting money as they are selling a 50 kilogramme cement bag for PKR 550, while the rate of a 50kg bag in the international market is less than PKR 300. Local cement makers are exporting cement nearly PKR 300/bag.
    
    Source : The News
17. voda 2 mei 2017 17:02

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    Southern Steel proposes dividend in third consecutive profitable quarter
    
    The Edge Markets reported that Southern Steel Bhd has proposed a three sen dividend, after posting its third consecutive profitable quarter, on the back of better selling prices and higher productivity. In its third quarter ended March 31, 2017 (3QFY17), net profit came in at RM 31.87 million or 7.54 sen a share, compared with a net loss of RM 8.99 million or 2.14 sen posted in the same period last year, as revenue grew 12% to RM665.91 million from RM5 95.85 million. The dividend is set to be paid on June 1, the company's bourse filing today showed.
    
    For the nine-month period ended March 31, 2017 (9MFY17), Southern Steel’s net profit stood at RM 87.73 million, far from the RM 108.48 million in losses it registered in the corresponding period last year, again due to the same reasons behind its quarterly earnings improvement.
    
    Revenue rose 9.59% year-on-year to RM 1.98 billion from RM 1.81 billion previously.
    
    But looking forward, the steel maker expects selling price to remain low, on the back of weak demand, excess industry capacity and intense domestic competition.
    
    The government’s final decision to retain safeguard duties on steel bar and wire rod for three years beginning April 2017, however, will help reduce excessive dumping and unfair trade, said the company.
    
    Southern Steel was in the red in FY15 and FY16, burdened by lower exchange rates, price competition and steel dumping practices prior to the renewed safeguard duty by the government last year.
    
    Source : The Edge Markets
18. voda 2 mei 2017 17:03

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    Essar Steel Algoma faces falling steel prices
    
    Sault Star reported that Essar Steel Algoma record its best monthly performance in March since going into bankruptcy protection in late 2015. ?Now, softening steel prices and a planned stove reline project are expected to affect the Sault Ste. Marie steelmaker's financial results in the coming months.
    
    Ernst and Young senior vice-president Brian M Denega in his latest update said that Earnings before interest, tax, depreciation, amortization and restructuring costs stood at about USD 40 million last month. That figure is USD 12 million higher than February and was driven primarily by the improved selling prices and higher volumes of production and shipment.
    
    The report said that “With the strong operating cash flow, Essar paid approximately USD 35.2 million toward its debtor-in-possession term loan facility. ?Denega anticipates Algoma's cash flow is strong enough to support additional payments over the next few months.”
    
    Management expects the steelmaker's borrowing needs will increase significantly in the fall when stockpiling inventory. ?Essar has paid a total of USD 46.2 million US towards its DIP term facility. Those payments have reduced the outstanding balance to USD 163.8 million US as of April 21. ?The DIP agreement was in technical default on the same day. That's because Algoma didn't meet a USD 22.2 million annualized cost savings milestone. This is where mediated talks between the steelmaker and United Steelworkers Local 2251 and 2724 come into play. Toronto-based mediation with Warren Winkler, former Chief Justice of Ontario, is currently adjourned.
    
    The report said that “The mediation order prohibits the applicants from requesting a no board report, which would be required before any renumeration terms can be imposed on their employees pursuant to a conciliation process under the Labour Relations Act, which represents the only practical way for the applicants to meet the cost savings milestone under the current circumstances.”
    
    Source : Sault Star

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19. voda 2 mei 2017 17:03

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    Georgetown Planning Commission says 'No' to rezoning steel mill property
    
    South Strand News reported that the City of Georgetown Planning Commission denied a request April 25 to rezone 20 parcels east of South Fraser Street and encompassing the site of the ArcelorMittal steel mill from heavy industrial into a multi-use redevelopment district.
    
    The commission also denied a text amendment essentially defining the district and setting it into law to create a redevelopment district to its zoning ordinances that would allow the multiuse option.
    
    With virtually no discussion, the commissioners voted 4-3 to deny the rezoning, with Chairman Winfred Pierterse, Vice chairman Chris Moore and Joan Schmid supporting the proposal. Gerald Williams introduced the motion to deny the rezoning. He was joined by Paul Smith, Bernard Jones and Brittany Johnson. The vote was the same to deny the text amendment.
    
    The recommendations now go to the City Council, which is expected to consider the matters at its May 18 meeting. During an April 20 City Council meeting, Georgetown Mayor Jack Scoville announced that ArcelorMittal had signed a letter of intent for the purchase of the mill with Liberty Steel, a subsidiary of Liberty House Group in the United Kingdom.
    
    Although Scoville and nearly all of the City Council members attended the public hearing which was held in the Georgetown High School auditorium, none of them spoke. Scoville said before the start of the hearing that he had met with representatives of Liberty Steel and they addressed some of his concerns.
    
    More than a dozen people spoke to the rezoning question, and two-thirds of them were in opposition to the city’s plan for the property. Among those opposing the rezoning were representatives of ArcelorMittal, Liberty Steel and representatives of the steelworkers union and those with ties to the steel industry.
    
    Mr Gordon Spelich on behalf of Liberty House Group said that “Georgetown is presented a great opportunity based on its reputation for making good quality products, a good workforce and for location.”
    
    Mr Spelich stressed Liberty’s concept of “Greensteel,” to be environmentally friendly and socially responsible in its plants and communities.
    
    Mr Spelich said that “We’re going to be spending several hundreds of thousands of dollars just to get the site cleaned up. If we’re successful as I know we will be, it will give us the opportunity to create different products, different lines, creating more jobs.”
    
    Mr Keith Nagel, director of environmental affairs and real estate at ArcelorMittal USA, called the proposed rezoning a “death sentence” for the agreement between ArcelorMittal and Liberty Steel. He said that “The rezoning ordinance only guarantees that the site could be used as a steel mill for another five years. It also says that the structure of the steel mill cannot be substantially improved during those five years. It is unreasonable to expect Liberty (Steel) to buy the mill and make investments to secure its future, if they will only be able to operate it for a short time.”
    
    Within the text of the proposed Redevelopment District zoning, the steel mill is grandfathered for five years to allow the owner to recoup their investment. However, an extension could be granted.
    
    James Sanderson, president of Steelworkers Local 7898, which represents the plant, said the fact that a buyer has been confirmed should convince everybody that the plant is an asset for Georgetown. And, he noted that the Urban Land Institute study, which was instrumental in launching the proposed redevelopment plan, was not in competition with the steel plant reopening.
    
    Source : South Strand News
20. voda 2 mei 2017 17:05

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    ArcelorMittal US employees to get bonuses - Report
    
    NWI Times reported that union represented ArcelorMittal workers are getting bonuses of 50 cents per hour for the first quarter after the average price of hot rolled steel climbed over USD 600 per ton during the first three months of the year.
    
    The incentive was built into the new contract 72.9% of United Steelworker union-represented workers voted to approve in June. The idea, modeled after a trend toward company performance-based bonuses in autoworkers' contracts, is that ArcelorMittal would not be saddled with high labor costs when market conditions are bad, but workers would share in the profits when times are good.
    
    USW Local 1010 announced the first quarter of 2017 would be the first time ArcelorMittal will pay out the quarterly bonus for every hour worked and for holiday and vacation days.
    
    Under the contract, ArcelorMittal workers make an additional 50 cents an hour if steel prices fall between an average of USD 600 a ton and USD 650.99 a ton in a fiscal quarter. Bonuses rise to 75 cents an hour if prices climb above USD 651 a ton, USD 1 an hour if prices rise above USD 701 a ton and USD 1.25 an hour if the price exceeds USD 751 a ton.
    
    Source : NWI Times

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