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1. voda 12 november 2018 21:54

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   GMS Market Commentary on Shipbreaking in Bangladesh in Week 45 - GRAVITY TALKS!
   
   Local Steel prices have gradually and consistently softened in Bangladesh this week (to the tune of about $7/Ton) in addition to a reported shortage of US Dollars that has lead to increasing L/C related difficulties with banks (particularly on large LDT purchases). End Buyers too have reportedly been hesitant to move product at the declining levels of local steel plates, leading to a gradually increasing backlog of inventory at local yards. The spate of local beachings this week only further adding to the mounting local pressure.
   
   As a result, the culmination of events through the week have all conspired to cool local offerings by about USD 10/LDT or so. Overall, given that competing markets have remained comparatively and consistently uncompetitive, a majority of the recently concluded market tonnage was primed for a Bangladesh redelivery. Consequently, this latest weakening may bring India and Pakistan closer into the limelight.
   
   However, given the weaker levels from the competing market, the recent raft of container and Cape sales at speculative and above market levels may now see Cash Buyers start to hold or layup their tonnage in anticipation of the historical end of year surge / rush.
   
   We therefore expect some added pressure on the supply of tonnage, unless / until one of the subcontinent markets is able to pick up the slack or desperate Cash Buyers bite the bullet and decide to offload expensive units from their inventory.
   
   Source : GMS Weekly
2. voda 12 november 2018 21:59

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   Olympic Steel reports record Q3 & 9M sales
   
   Olympic Steel Inc announced significantly improved financial results for the third quarter and nine-month period ended Sept. 30, 2018. Third-quarter 2018 net sales increased 38%, to USD 457 million, which is the highest quarterly sale posted in the Company's history. This is up from USD 331 million in net sales during the third quarter of 2017. Year-to-date net sales grew 26% over the prior year's same period, reaching a record USD 1.3 billion, versus USD 1.0 billion in 2017. Higher year-over-year shipping volume and higher average prices drove the sales increase in both periods.
   
   Net income rose to USD 11.6 million, or USD 1.01 per diluted share, in the third quarter, up from USD 2.3 million or $0.20 per diluted share, in the same quarter of 2017. This year's third-quarter net income was negatively impacted by USD 2.7 million in LIFO expense, which reduced quarterly earnings by USD 0.18 per diluted share. In last year's same quarter, LIFO expense reduced net income by USD 0.7 million, or USD 0.04 per diluted share. Adjusting for LIFO impacts in both periods, third-quarter net income improved to USD 1.19 per diluted share in 2018, up from USD 0.24 per diluted share in 2017.
   
   Mr Michael D Siegal said that "Our diversification strategies and strong balance sheet, combined with record sales and higher margins, drove significant earnings improvement in all three of our operating segments for the third quarter and nine months of 2018. For the 2018 nine-month period, net income grew to USD 35.1 million, or USD 3.07 per diluted share. This more than doubled net income of USD 14.8 million, or USD 1.30 per diluted share, reported for the same period in 2017. Year-to-date LIFO expense totaled USD 4.7 million, or USD 0.30 per diluted share, in 2018, compared with USD 1.5 million, or USD 0.08 per diluted share, in the same period last year. End-market demand is expected to remain strong in all industries that we serve. Our customers anticipate year-over-year growth will continue in this year's final quarter, and into 2019."
   
   Source : Strategic Research Institute
3. voda 12 november 2018 21:59

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   GAIL buys steel pipe worth INR 1,100 crore from domestic steelmakers
   
   Financial Express reported that GAIL has purchased steel worth INR 1,100 crore from domestic steelmakers. The state-owned gas utility major has bought the pipeline to complete the 729-km link between Barauni in Bihar and Guwahati to provide gas to the eastern region. The development is slated to provide clean energy to households and transportation in the cities en route the pipeline. The firm’s Chairman Mr BC Tripathi said that the award of the tender supports ‘Make in India’ efforts of steel pipe manufacturers across the country. Further, it marks the completion of for the entire 729-km stretch.
   
   Earlier, GAIL said it will commission the first phase of the Pradhan Mantri Urja Ganga (PMUG) project before January, taking natural gas to cities in eastern Uttar Pradesh and Bihar. The 2,655-km long gas pipeline worth INR 12,940 crore from Jagdishpur in UP to Haldia in West Bengal, with branch lines to Bokaro in Jharkhand and Dhamra in Odisha, will for the first time take clean environment-friendly gas to the east to fuel its industrial revolution.
   
   Source : Financial Express
4. voda 12 november 2018 22:02

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   Workers protest outside Essar Steel Plant In Paradip
   
   Odisha TV reported that members of Essar Steel India Workers’ Union staged protest in front of the plant demanding minimum wages and other benefits like Employees’ Provident Fund and Employees’ State Insurance. The protesting workers alleged that despite protests since long, the authorities have not taken any steps to address their concerns. A labourer, Kishore Patra said that “Most of the labourers have been deprived of EPF and ESI. Even there are no weekly-offs, bonus, and allowances. Only a few of the labourers are getting minimum wages.”
   
   Earlier in May, after the labour union had given a notice to carry out protests, section 144 was imposed in front of the main gate of the plant.
   
   The workers have also alleged that when a date for a meeting between the two sides was finalised, the members of the steel plant didn’t show up.
   
   Source : Odisha TV
5. voda 12 november 2018 22:04

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   Fire reported at ArcelorMittal's steel mill along Lake Michigan in East Chicago
   Steel News - Published on Mon, 12 Nov 2018
   
   Associated Press reported that a steel company is blaming a fire at a northwestern Indiana mill on slag being dumped onto an area containing water. The fire on last Monday afternoon injured a worker and sent smoke billowing from ArcelorMittal's steel mill along Lake Michigan in East Chicago. ArcelorMittal says in a statement that the injured worker was treated for minor burns. ArcelorMittal says the fire is being company and union officials and is believed to have resulted from what it calls procedural violations.
   
   The company says steel production is continuing at the mill that's about 10 miles (16 kilometers) southeast of Chicago.
   
   Source : AP
6. voda 12 november 2018 22:05

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   GMS Market Commentary on Ship breaking in Week 45 - SOFTENING SETS IN!
   
   Last week saw some softening in the bullish Bangladeshi market, which finally succumbed to some inevitable weakness after a stellar showing at the start of the fourth quarter, mixed in with a declining local steel plate - last week’s bevy of local fixtures and this week’s beachings notwithstanding. Moreover, with India and Pakistan still in the doldrums, this meant that a lot of the overly bullish Cash Buyer purchases over the past month or so, are now starting to struggle to hit their required breakeven margins.
   
   Diwali holidays of course saw India away for much of the week, but the overall feeling there is of a market under pressure, due to a struggling currency and a volatile steel plate price that seems to decline for a majority of the week, only to make a recovery late in the week, subsequently leaving most local recyclers on edge as to whether the week’s negotiations / discussions will remain in the green.
   
   Pakistan, like its subcontinent brethren, has local steel plate price concerns (where levels fell consistently through the week) and local sentiments are further marred by the ongoing investigation into another accident onboard a tanker there, following the issuance of cutting permissions on various wet units. Perhaps this is the long overdue wake up call the Gadani market needs in order to finally raise their standards after trailing many years behind their subcontinent competitors - in terms of infrastructure and complying to improving recycling standards in line with the Hong Kong Convention.
   
   Source : Strategic Research Institute
7. voda 12 november 2018 22:06

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   Caster modernization at Huaigang I&S (Shagang Group) by Danieli
   
   Huaigang is renewing its confidence in Danieli casting technology with a revamping for CCM#2 billet caster at Huai’an, Jiangsu Province. The Q-SOFT Technological Package will upgrade the mould exit areas with new withdrawal units featuring soft reduction capabilities, installed on all four strands of the 11-m-radius caster. New moulds for 210x210-mm square sections, new dedicated secondary cooling and a new dedicated hydraulic unit capable of delivering the required cylinder pressure are included in the project. Danieli Automation will carry out a full revamping of Level 1 controls and integrate a Liquid Pool Control system for accurate and balanced secondary cooling, controlled stirring and reduction process for each type of steel produced.
   
   The upgrade will allow Huaigang I&S to increase the production of highly demanding grades, such as bearing steels -thus the market share- in a very competitive market, by providing superior quality products.
   
   This is the fifth Danieli conticaster project at Huaigang in the last 30 years.
   
   Previous supplies included two casters for jumbo rounds up to 800-mm-round dia, one billet caster and an upgrade to another CCM.
   
   Source : Strategic Research Institute
8. voda 12 november 2018 22:19

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   BHP trainwreck cleared off Western Australia's tracks
   
   AAP reported that the mangled wreckage of an iron ore BHP freight train that was deliberately derailed in Western Australia's north after it took off without its driver has been cleared from the tracks. The nearly 3km-long runaway train hurtled along BHP's Newman to Port Hedland line for about 50 minutes early on Monday, leaving behind the driver, who had stepped out to inspect one of its 268 wagons. The locomotive was derailed by staff at a remote control centre more than 1500km away in Perth, who diverted it to Turner's Siding, about 120km south of the populated port. Nobody was injured but about 1.5km of track was damaged.
   
   Mr Andrew Mackenzie chief executive praised their quick thinking, saying the train "could have caused a lot of damage" if it had continued on to Port Hedland. He also said the company was planning investments in its railways and safety "before this accident happened".
   
   A spokeswoman said that the company was confident rail operations, which have been completely suspended since the derailment, would partially resume early next week. The company continues to say it cannot speculate on the causes of the incident.
   
   BHP revealed mid-week it did not have enough iron ore stockpiled at Port Hedland to cover its scheduled shipments, saying it would liaise with customers about its contractual commitments.
   
   Source : AAP
9. voda 13 november 2018 10:47

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   ArcelorMittal needs one month to restore Kazakh output
   Reuters | about 16 hours ago |
   
   ArcelorMittal Temirtau, a Kazakh unit of the world's largest steelmaker, said on Monday it would take a month to restore output at its steel mill after an incident on Saturday prompted a partial suspension of operations.
   
   ArcelorMittal Temirtau, Kazakhstan's biggest steel mill, said at the weekend that several gas pipelines had been damaged after a fire broke out at the plant.
   
   "I think that the recovery from the accident will take at least three weeks, then we will begin to raise the production," ArcelorMittal quoted the plant's executive director, Vadim Basin, as saying in a statement.
   
   "The final recovery from the accident and the recovery efforts will take a month."
   
   At the same time, the company was sticking to its plans to produce 3.915 million tonnes of steel this year, Kazakh news website Tengrinews.kz reported Basin as saying at a briefing.
   
   (Reporting by Olzhas Auyezov; Editing by Kirsten Donovan)
   
   www.mining.com/web/arcelormittal-need...
10. voda 13 november 2018 16:49

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    Tata Steel profiteert van staalhonger India
    
    Gepubliceerd op 13 nov 2018 om 14:54 | Views: 784
    
    ArcelorMittal 16:29
    21,18 -0,57 (-2,62%)
    
    MUMBAI (AFN/BLOOMBERG) - Het van oorsprong Indiase Tata Steel heeft het afgelopen kwartaal goede zaken gedaan op zijn thuismarkt. De regering van India ijvert voor ingrijpende verbeteringen aan de infrastructuur, waardoor de vraag naar staal aanzienlijk is gestegen. Mede daardoor voerde het staalconcern zijn winst flink op.
    
    Tata Steel, waartoe ook de voormalige Hoogovens in IJmuiden behoren, boekte in het tweede kwartaal van zijn gebroken boekjaar een nettowinst van 36 miljard roepie (circa 440 miljoen euro). Een jaar eerder resteerde onder de streep nog een kleine 9,8 miljard roepie.
    
    De omzet over de drie maanden tot en met september steeg op jaarbasis met 34 procent tot 435,4 miljard roepie. Naast de toegenomen vraag in India had Tata Steel ook de wind mee voor wat betreft de prijzen voor staal.
11. voda 13 november 2018 17:09

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    Topy Industries become first spooled bar coils for Japan and USA - Danieli
    
    Topy Industries Limited and Commercial Metals Company have now become the first Japanese and USA rebar producer to step ahead in the field of hot rolled compact coils. These two K-Spool Lines, perfectly on time started-up by Danieli, represent the state-of-art technology for the production of hot rolled compact coils with market-customized solutions: the layout configurations have indeed developed taking in to account the specific quality and productivity requirements. The K-Spool Line at Topy’s Toyohashi Rolling Mill, Aichi Prefecture, has been designed for an output capacity up to 240,000 tpy of D10, D13 and D16 in compact coils from 1 to 3.5 tons for grades SD295A and SD345, by means of two Danieli horizontal spooler stations independently served by separate lifting forks.
    
    A two-pass fast finishing block with a Hi-Profile measuring system have also been supplied to upgrade the finishing mill.
    
    On the other side of the ocean, the K-Spool Line in Durant, Oklahoma, upgrades the CMC’s “environmentally responsible” micromill adding compact coils in the range #3 to #6, using a four-pass fast finishing block and two Danieli horizontal spooler stations, fed by the endless MI.DA® rolling mill.
    
    With the application of the endless rolling process, the plant can produce compact coils in weights up to 11,000 lb (5.0 t).
    
    Based on horizontal spooler coiling, Danieli K-Spool technology has reached an unparalleled level of reliability and quality in finished products, resulting in twist-free material, free of any residual tensions and stresses and very consistent in mechanical characteristics and surface quality.
    
    Currently, depending on local market requirements, steelmakers produce spooled coils in different weights, up to 5 t (design capacity up to 8 t) in diameters up to 32 mm
    
    Source : Strategic Research Institute
12. voda 13 november 2018 17:09

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    Indian foundry sector likely to grow by 13 to 14pct in two years
    
    Economic Times reported that the foundry sector in the country is expected to witness an annual growth of 13-14 per cent from the present five-seven per cent. Chairman of the city chapter of Institute of Indian Foundrymen G Ezhil said that this would see production of castings increase from 11.5 million tonnes to 14-15 million tonnes by 2021 and was set to reach 20 million tonnes by 2025.
    
    He said that the demand for foundry products was increasing owing to its quality, and the industry was the second largest producer of castings in the world after China.
    
    Apart from this, the opportunities coming from the defence, railways and the automobile sectors would boost the demand, he said.
    
    Source : Economic Times
13. voda 13 november 2018 17:09

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    Jindal (India) installed new CCL and CGL
    
    Steel Times International reported that Jindal (India)’s recently installed state-of-the art colour coating line processes strip thicknesses of 0.15mm to 1mm and widths of 750mm to 1450mm, at a processing speed of 90mpm, with a total capacity of 0.135 million tonne per year. The CCL was supplied by CMI Industry Metals of Belgium along with a continuous galvanising line (CGL) with the sole aim of helping the customer meet rapid growth in demand for steel in India, claims CMI.
    
    The line is designed with operational efficiency and eco-friendliness in mind and featuresCMI’s latest generation of paint coaters to ensure accurate and high-quality surface coating.
    
    Other important features of the CCL include: a fully indirect heating oven to ensure complete curingof the paint coatings, an incineration system for effective solvent abatement and a two-stage heat exchanger, which transfers generated excess heat to the degreasing section of the line.
    
    Source : Steel Times International
14. voda 13 november 2018 17:10

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    Gas pipe line blast stops some units at ArcelorMittal Temirtau - Report
    
    Metal Bulletin reported that operations at Kazakhstan steelmaker ArcelorMittal Temirtau were partly suspended on Saturday November 10 due to an explosion in a gas pipeline. ArcelorMittal Temirtau’s chief operating officer Vadim Basin said “An accident investigation will take at least three weeks. After that, we will resume production. A complete investigation and production restart will take a month.”
    
    Market sources expect that ArcelorMittal Temirtau will not return to normal operations for several months, however. Steelmaking functions and the rolling workshops were stopped because of the explosion and a fire. Only one of four blast furnaces is operating, ArcelorMittal Temirtau said. But basic oxygen furnace No1 and blast furnace No3 had been stopped before the accident for general maintenance.
    
    Source : Metal Bulletin
15. voda 13 november 2018 17:12

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    mjunction to boost TATA steel sales to MSMEs - Mr Vinaya Varma
    
    The mjunction services limited launched in association with the Tata Steel a working capital finance program for the MSME sector for buying steel. The programme christened 'URJA' will provide unsecured finance to buyers purchasing material from Tata Steels distributors, mjunction CEO Vinaya Varma told PTI that "We'll be serving a category of MSMEs buying primary steel which accounts for INR 1200 crore market. The platform will allow an MSME to buy steel from a distributor without cash which was not possible in the traditional method. The financing will not be done by the Tata Steel. The platform has financers which will finance for the Tata Steel product bought. The Tata Capital, the Hero FinCorp and Axis Bank are already on the platform and talks are on to bring the Aditya Birla Finance.”
    
    Tata Steel chief of marketing & sales Sanjay Sahni said that "This digitally enabled platform solution will connect emerging corporate accounts to potential lenders. I believe the initiative has the potential to set a new norm for steel consuming segments. We expect to touch over 600 customers through this initiative within a years time.”
    
    Source : Money Control
16. voda 13 november 2018 17:12

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    Trump Trade War - Japan oil well pipes to be exempted from Section 232
    
    Tex reported that United States Department of Commerce has decided to exempt Japan's oil well pipes exported to the US from the Section 232 of the Trade Expansion Act, responding to the requests from large US corporate customers, including Shell, Chevron, BP, and HESS. Japanese mills were particularly concerned whether their rail, oil well pipes, electrical steel sheet, and long products would be exempted. Some rail and grain-oriented electrical steel sheet have already been exempted, in addition to oil well pipes approved this time. Regarding long products, some of them have been exempted in a small quantity; and observers consider that they will be exempted over time, in particular those for processed goods. With these outcomes, the exemption-from-the-Section-232 issue seems to have passed its peak this year.
    
    Of Japan-made oil well pipes, those with a diameter of 16 inches or larger are subject to anti-dumping duties, and those with a smaller diameter are subject to the exemption this time. Also, not all of the pipes in the latter category are exempted only those for large-sized customers. However, there have been cases where the DOC gave exemption after repeated requests; and therefore, US customers will likely to continue submitting applications for exemption.
    
    Japan's exports of steel pipe products (including seamless pipes and electric resistance-welded pipes) to the US in the Jan-Aug period this year stood at 75,000 tons, up 36.6% year-on-year (y/y). With recovery in production at the oil and gas sectors, the effect of the Section 232 was, quantity-wise, negligible. At present, Japanese mills are continuing production of oil well pipes at full capacity.
    
    Source : TEX Report
17. voda 13 november 2018 17:13

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    Foshan Chengde New Material Co grants CAPL FAC to CMI
    
    Steel Times International reported that Foshan Chengde New Material Co has awarded CMI a final acceptance for the pickling process section of its new 500kt/yr cold annealing and pickling line that has been erected at the customer’s site at the Tieshan Port (Seaside) Industrial Park. The new CAPL is processing austenitic stainless steel grades, such as 200 and 300 series Austenilic Ni-Cr stainless steel, all of which meets not only the domestic (GB), but also international industry specifications (ASTM, TIS, DIN, etc.). The line processes strip gauges between 0.3mm and 3.0mm, at a maximum process speed of 200 m/min in the pickling section, making it the world's fastest line of this type.
    
    Based in Guangdong Province, China, Foshan Chengde is a global technological process enterprise producing a large variety of stainless steel strips and pipes.
    
    The state-of-the-art chemical treatment equipment that has been provided by CMI Industry Metals, is one of the centerpieces of Foshan's new CAPL. Foshan's chief aim is to achieve the highest-quality end products and improve its competitive position, both in the domestic market and overseas.
    
    The main reasons behind Foshan's decision to choose CMI were the company’s extensive experience in the chemical treatment of stainless steel strip and the high process security of the plant concept, which incorporates a fully automated pickling liquor analysis and acid dosing system to guarantee consistent pickling quality and cut acid consumption.
    
    CMI supplied Foshan with the complete pickling section located downstream of the annealing furnace. Major treatment steps of the pickling section are: Electrolytic pickling with neutral electrolyte solution; double brush section; chemical high turbulence pickling with mixed acid; rinse section combining spray rinse and brush section; and stain-free drying including an edge blow device.
    
    Source : Steel Times International
18. voda 13 november 2018 17:17

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    Big River Steel to remain independent
    
    Arkansas Business quoted Big River Steel would expand its scrap recycling and steel production facility near Osceola, says it will remain an independent company. CEO David Stickler told Fastmarkets AMM that it will instead focus on its expansion, as well as plans to build a second flat-rolled mini-mill in the southern US. Mr Stickler said that "The group wants to stay together, build the platform and not exit the market. We think that there is tremendous opportunity ahead for Big River Steel."
    
    But Mr Stickler said the company might consider joint ventures with other firms to make high-strength, automotive-grade steel, according to the report by Michael Cowden.
    
    Nucor was reportedly among the companies considering an acquisition.
    
    Source : Arkansas Business
19. voda 13 november 2018 17:18

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    Japan seeking lower auto and steel tariffs from Philippines- Mr Takahiko Shiba
    
    B World Online reported that Japan is seeking lower tariffs for automobiles and steel products amid an ongoing review of the Philippines-Japan Economic Partnership Agreement. Mr Takahiko Shiba, Trade and Commercial Attaché at the Embassy of Japan to the Philippines, told reporters in Manila “Already tariffs on most types of goods are reduced. But still there are tariffs on automobiles and steel products… The government of Japan will request the Philippines to reduce tariffs.”
    
    For automobiles, the Japanese official was referring to tariffs on vehicles with a displacement volume not exceeding 3,000 cubic centimeters. These include sedans, sports cars, station wagons, racing cars, prison vans, ambulances, and all-terrain vehicles, among others.
    
    Mr Shiba said that the under the free trade agreement between the Association of Southeast Asian Nations with South Korea, the tariff rates for these automobile lines average 5%.
    
    On the other hand, they average around 20% under the PJEPA.
    
    On steel products, Mr Shiba said the Philippines continues to impose import duties on some steel products.
    
    On the other hand, the Philippines has been seeking greater market access for agricultural goods, particularly tropical fruits such as bananas, mangoes, and pineapples.
    
    Sought for comment on the Philippine wish list, Mr Shiba said that “I think it will be tough negotiations. Of course, Philippines would like to export many agricultural goods to Japan. On the other hand, Japan would like to introduce a lot of new sectors like e-commerce.”
    
    The PJEPA is the Philippines’ lone bilateral trading agreement which it ratified and officially implemented in 2008. Under the deal, both countries are slated to conduct a general review ten years after the deal took effect. This means the review was supposedly slated in 2016 instead of this year.
    
    Source : Bworld Online
20. voda 13 november 2018 20:01

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    Usha Martin promises to pay off lenders first
    
    Telegraph India reported that Usha Martin Ltd will deposit the funds mobilised from the proposed sale of its steel business to Tata Sponge into an escrow account with the State Bank of India to ensure lenders are paid off first before the company can lay hands on the money. Mr GN Bajpai, chairman of UML in response to shareholders queries said that “I want to assure you that the sale proceed shall be deposited in a separate escrow account to be opened with the lead bank and repayments of existing loans are to be made. No money will be given to the company or otherwise,.”
    
    Several shareholders said they were grudgingly accepting the slump sale and questioned whether the existing management, which could not manage the steel business, should continue after the deal. One shareholder also asked why the Tatas were not taking stake directly in UML.
    
    The Tatas have agreed to pay INR 4,520 crore to acquire UML’s 1-million-tonne steel plant at Jamshedpur, a captive power plant, a coal and an iron ore mine associated with it. UML has around INR 4,700 crore debt as on June 30, 2018, on its balance sheet in long-term and working capital loans.
    
    Source : Telegraph India