ArcelorMittal LU1598757687

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1. voda 3 februari 2023 06:59

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   GFG Alliance fails to reach Deal for Liberty Steel Dudelange
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:41 am
   
   RTL reported that negotiations over the former Liberty Steel site in Dudelange in Belgium have reached a stalemate, as the government and the site's shareholders have failed to reach an agreement. Belgium’s Minister of the Economy Mr Franz Fayot told a parliamentary commission that the government had failed to conclude negotiations with the GFG group over the future of the Dudelange site. Mr Fayot told “The government was ready to facilitate a deal via the SNCI bank, which planned to buy assets and resell them to a future buyer, however shareholders failed to agree on a price with the state.”
   
   Mr Fayot said “The government had made an adequate proposal to the GFG group, which was refused. A number of other investors have expressed interest in the site, with negotiations underway and in some cases, at an advanced stage. As it stands, the government is awaiting a counter proposal from the site's main shareholders.”
   
   Mr Fayot added that he is in close contact with the trade unions and could count on their support through the negotiations.
   
   Liberty Steel site in Dudelange has not been operational for months, which has led to depreciation in value of the site.
2. voda 3 februari 2023 07:00

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   SMS to Supply Rebar Minimill to YK Steel in South Korea
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:42 am
   
   South Korean steelmaker YK Steel has commissioned SMS group to supply a new minimill with integrated melting, casting, and rolling and including all electrical and automation systems. Instead of relocating and upgrading an existing plant, originally planned at the end of 2021, YK Steel instead opted for a completely new minimill. This means it benefits from state-of-the-art technologies being delivered and put into service. The minimill will start production in 2025 at the company’s Dangjin site.
   
   To produce the steel, YK Steel plans to use a 115-tonne DC Edge electric arc furnace and an Aura charging system, which is operated with 100 percent steel scrap. The five-strand caster, which will produce square billets 150 millimeters thick, can achieve casting speeds of up to four meters per minute thanks to the proven CONVEX mold technology. The cast billets are conveyed into the downstream rolling mill via a hot-charging roller table. This is connected to a walking beam furnace that offers a production capacity of 140 tons of billets per hour and is fitted with low-NOx recuperative burners. The rolling mill consists of 18 new housingless stands and an innovative water cooling system for controlling the rolled stock temperature as well as for quenching.
   
   YK Steel will use the new plant to produce reinforcing steel with diameters ranging from 10 millimeters to 35 millimeters. The products manufactured in the minimill will be sold as six to twelve-meter long part-packages with a maximum weight of 450 to 550 kg and large packages weighing up to two tons.
   
   This strategic decision to build a new plant underscores the growth plans of Daehan Steel of becoming one of the country’s market leaders with YK Steel in the rebar manufacturing sector. The new plant project also aims at achieving more sustainable production at minimal operating costs.
3. voda 3 februari 2023 07:00

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   ArcelorMittal’s 5G Steel Mobile Network Launched in North France
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:42 am
   
   France’s leading telecom services provider Orange has announced that 5G Steel launched by ArcelorMittal in November 2021 with Orange Business Services and Ericsson, the largest 4G/5G network in an industrial environment, is now operational. The initiative, supported by the French government as part of the France Relance economy revival plan, is now enabling the first industrial use cases to be implemented at the ArcelorMittal site in Dunkerque. It is the first industrial use cases requiring enhanced mobile broadband eMBB are being launched, from steel recycling management to connected operator functionalities
   
   The mobile network covers all ArcelorMittal's complex industrial sites, outdoors and indoors, including underneath high-rise metal structures. This coverage provides greater freedom of movement for operators and connectivity anywhere in the company. High speed in response to the high throughput needs of modeled processes, connected objects, production data etc. Reduced latency supports the deployment of autonomous vehicles and remote control cockpits as well as security in high-risk areas. Network slicing to offer a level of service adapted to each of the needs of the operational processes. The private mobile network protects sensitive industrial data.
   
   ArcelorMittal's recycled steel yard management is facilitated by the extensive coverage and high throughput. Steel arriving at the site for recycling is weighed and scanned to assess its density and composition. This data is then automatically transmitted by the operators in charge of quality control from the field via 5G Steel. Machinery operators (crane and stackers) receive the information directly from the production program and can inform about the actions taken through 5G Steel.
   
   Future industrial use cases to be developed on ArcelorMittal's sites include other initiatives in terms of mobility of people in work situations, autonomous rail vehicles in Dunkerque and Florange, autonomous road vehicles, the generalization of mobile maintenance with field information feedback, virtual or augmented reality and safety devices.
   
   5G Steel
   
   9 radio sites with 4X4 MiMo antennas to cover the Dunkerque and Mardyck sites
   
   1 core with dynamic geographic redundancy to manage up to 50,000 users
   
   1 monitoring tool to manage and operate the 5G Steel network
   
   19 Cradlepoint routers, a subsidiary of Ericsson
   
   80% of the area is above speed targets
   
   Network construction
   
   Nov 23, 2021: Project launch
   
   Dec 8, 2021: Defining the positioning of the antennas
   
   Apr 22, 2022: Installation of the core and the 1st antenna
   
   Aug 5, 2022: Installation complete
   
   Sep 1, 2022: Authorization to use frequencies
   
   Currently deployed on the ArcelorMittal sites in Dunkerque and Mardyck in North of France, 5G Steel will be extended to other sites, in particular Florange in East of France in 2023. The objective of deploying 5G Steel is also to enable the development of the French ecosystem around the value chain of these industrial use cases. 5G Steel will cover the main seaport of Dunkerque and ArcelorMittal's Digital Labs in Dunkerque and Florange, and tests are being carried out to extend the network to the Hauts-de-France and Grand Est regions.
   
   5G Steel is built with the expertise of Orange Business Services, an operator integrator, and the technologies of Ericsson, a private network partner.
4. voda 3 februari 2023 07:01

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   MOIL Reports Strong Performance in Oct-Dec’22 Quarter
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:43 am
   
   India’s state owned manganese miner MOIL has reported that profit after tax at INR 39.52 crore in October-December 2022 quarter, was higher by 45% than July-September 2022 quarter. Revenue from operation has shown improvements of 28% from INR 236 crore to INR 302 crore during the same period.
   
   The company has produced 0.337 million tonnes as against 0.241 million tonnes of manganese registering growth of 40% during the same period. Sales of manganese ore also increased by 44% from 0.206 million tonnes to 0.297 million tonnes in comparison to the second quarter of FY’23.
   
   During the nine months’ period, the production has increased by 5% from 0.857 million tonnes to 0.900 million tonnes despite extended rainy season up to the beginning of the third quarter.
   
   MOIL Limited is a Schedule-A, Miniratna category-1 CPSE under the administrative control of Ministry of Steel, Government of India. MOIL is the largest producer of manganese ore in the country with a market share of 45%, operating eleven mines in the State of Maharashtra and Madhya Pradesh. The company has ambitious vision of almost doubling its production to 3.00 million tonnes by 2030. MOIL is also exploring business opportunities in the State of Gujarat, Rajasthan and Odisha besides other areas in the State of Madhya Pradesh.
5. voda 3 februari 2023 07:02

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   SAIL RSP Signs MoU with NIT Rourkela for R&D Projects
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:44 am
   
   Steel Authority of India Limited’s Rourkela Steel Plant and National Institute of Technology Rourkela have signed a Memorandum of Understanding. The MoU aims at joint research and development projects leading to publications, patents, copyrights etc. The projects will focus on areas like Coke and Sinter Production, Raw Material Handing and Processing, Steel Production, New Process Development, Safety, Improvement in the Quality, Energy Conservation, Environment Control, and trouble shoot technical problems and Digital Transformation relevant to RSP.
   
   Another major aspect of the MoU is the setting up of an advanced Printed Circuit Board testing facility at NIT that will be used for training and skill development for local underprivileged youth of RSP’s peripheral areas and direct impact zones to provide better opportunities for employment.
6. voda 3 februari 2023 07:04

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   Vietnam Maintains AD Duty on CR Steel Imports from China
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:44 am
   
   The Ministry of Industry and Trade of Vietnam has decided to maintain anti-dumping measures on cold-rolled steel products in coils or sheets from China. Accordingly, anti-dumping duty rate for 15 Chinese enterprises at 4.43% to 25.22% will remain unchanged.
   
   On September 3, 2019, the Ministry of Industry and Trade of Vietnam issued Decision 2703/QD-BCT on the investigation and application of anti-dumping measures on some cold-rolled (cold-pressed) steel products in coils or sheets from China.
   
   On December 21, 2020, the Ministry of Industry and Trade of Vietnam issued Decision 3390/QD-BCT on the application of official anti-dumping duty on some cold-rolled (cold-pressed) steel products in coil or sheets from China. The anti-dumping duty rate for 15 Chinese enterprises was determined to range from 4.43% to 25.22%. Other enterprises producing and exporting cold-rolled (cold-pressed) steel products in coils or sheets from China to Vietnam will be subject to a duty rate of 25.22%.
   
   According to the provisions of Decree No. 10/2018/ND-CP dated January 15, 2018 of the Government detailing a number of articles of the Law on Foreign Trade Management on trade remedies, organizations and relevant parties have the right to submit dossiers requesting review of the application of anti-dumping measures on some cold-rolled (cold-pressed) steel products in coils or sheets from China.
   
   Cold-rolled (cold-pressed) steel products in coils or sheets are of HS code 7209.16.10; 7209.16.90; 7209.17.10; 7209.17.90; 7209.18.91; 7209.18.99; 7209.26.10; 7209.26.90; 7209.27.10; 7209.27.90; 7209.28.10; 7209.28.90; 7209.90.90; 7211.23.20; 7211.23.30; 7211.23.90; 7211.29.20; 7211.29.30; 7211.29.90; 7225.50.90.
7. voda 3 februari 2023 07:04

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   Canada Extends AD Duty of Rebars from 6 Countries
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:45 am
   
   The Canadian International Trade Tribunal has continued its finding made on 3 May 3 2017 in inquiry concerning the dumping of certain concrete reinforcing bar originating in or exported from Belarus, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu excluding those goods exported by Feng Hsin Steel, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, the Portuguese Republic and the Kingdom of Spain.
   
   The Tribunal found that the expiry of the finding was likely to result in injury. As such, the Tribunal continued its finding. The Canada Border Services Agency will therefore continue to impose anti-dumping duties on this product.
8. voda 3 februari 2023 07:04

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   Ground Broken Seamless Stainless Steel Tube Plant in Saudi Arabia
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:45 am
   
   King Salman Energy Park has broken ground on a new USD 240 million Saudi’s first stainless-steel seamless pipes & tubes production facility SeAH Gulf Special Steel Industries in collaboration with Korean steel manufacturer SeAH CSS. The new facility will span nearly 178,000 square meters and have the operating capacity to produce 20,000 tonnes of seamless pipes and tubes per annum. The facility is expected to begin operations in 2025
   
   SeAH GSI is a joint venture between the Saudi Arabian Industrial Investments Company Dussur and SeAH CSS.
   
   The groundbreaking ceremony comes following the signing of an agreement between SPARK and SeAH GSI in September 2022 to develop the production facility, which will increase the manufacturing of energy-related products in Saudi Arabia, reinforcing the Kingdom’s localization efforts in line with Saudi Aramco’s In-Kingdom Total Value Add (iktva) program and the National Industrial Strategy, as part of Vision 2030.
9. voda 3 februari 2023 07:05

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   NCLT Approves JSL & Jindal Stainless (Hisar) Merger Scheme
   
   Strategic Research Institute
   Published on :
   3 Feb, 2023, 5:46 am
   
   Jindal Stainless Limited has announced that the Composite Scheme of Arrangement, providing for merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited has been approved by Hon’ble NCLT on 2 February 2023.JSL said “The detailed order of the Hon’ble NCLT in relation to the approval of the Composite Scheme is awaited and will be uploaded on the Company’s website once available.”
   
   JSL added “The Composite Scheme will become effective once a certified copy of the Final Order of the Hon’ble NCLT is filed with the Registrar of Companies, NCT of Delhi and Haryana. The Appointed Date with effect from which the Composite Scheme will be deemed to be effective upon such filing with the RoC, is 1 April 2020.
10. voda 3 februari 2023 07:06

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    Crown Court Finds 2 Balli Steel Executives Guilty of Fraud
    
    Strategic Research Institute
    Published on :
    3 Feb, 2023, 5:47 am
    
    City AM reported that 2 Balli Steel executives have been convicted of using forged documents to mislead banks into lending the bankrupt commodities trader GBP 122million. A jury at Southwark Crown Court today found Balli Steel executives Ms Melis Erda and Mr Louise Worsell guilty on six counts of fraud. Mr Worsell, the managing director of Balli’s UAE business, and Ms Erda, group treasurer at the firm’s London headquarters, now face up to ten in prison for each count at sentencing in April this year. The convictions mark a rare win for the UK’s Serious Fraud Office after it first launched its investigation into the firm almost a decade ago.
    
    The convictions follow Balli Steel chief executive Mr Nasser Alaghband’s decision to plea guilty to one count of fraudulent trading.
    
    The London-headquartered trader Balli Steel bought and sold steel around the world using short-term loans from trade finance banks to fund its deals. The firm, however, collapsed in 2013, having accrued $500m in debts owed to more than 20 banks, leading to the launch of an investigation by the SFO. The SFO’s investigation revealed falsified documents had been produced under the name of Balli’s own in-house shipping company, Trans Ocean Navigation. Balli’s control and ownership over TON was, however, concealed from the steel trader’s creditors, despite the fact the shipping firm was operated from Balli’s Marylebone offices.
11. voda 3 februari 2023 07:06

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    Severstal Reports Operational Results for 2022
    
    Strategic Research Institute
    Published on :
    3 Feb, 2023, 5:46 am
    
    Russia’s leading steelmaker Severstal has announced that crude steel production for 2022 totaled 10.7 million tonne tonnes, 8% lower YoY, although hot metal output was flat YoY. Consolidated steel sales fell by 2% YoY to 10.9 million tonnes in 2022.
    
    Hot Metal Production - 10.972 million tonnes, flat YoY
    
    Crude Steel Production - 10.692 million tonnes, down 8% YoY
    
    Steel Products Sales including Semis - 10.920 million tonnes, down 2% YoY
    
    Semis Sales - 1.568 million tonnes, up 11% YoY
    
    Commercial Sales - 4.591 million tonnes, flat YoY
    
    HVA Products Sales 4.761 million tonnes, down 6% YoY
    
    Iron Ore Products Sales 2.342 million tonnes, down 46% YoY
    
    Crude steel reduction was mainly due to converter repairs in Q2 2022 and a reduced EAF utilization rate due to an increase in scrap prices in 3Q 2022.
    
    Severstal’s CEO Mr Alexander Shevelev said “The year 2022 was a serious test for our Company. The ban on steel and raw material exports to European markets, the disruption of supply chains, growing competition in domestic markets, the global economic slowdown and declining steel prices, resilience of demand for Russian steel and rouble volatility required quick and proactive decision-making, and a readiness to take risks and to operate with limited visibility and reduced budgets. I am proud of the fact that, in this environment, our vertically integrated business model combined with a relentless focus on operational enhancements and cost reduction as well as our strong corporate culture helped us navigate a challenging year while achieving decent results.”
12. voda 3 februari 2023 07:08

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    US Steel Reports Second-Best Yearly Earnings in 2022
    
    Strategic Research Institute
    Published on :
    3 Feb, 2023, 5:47 am
    
    United States Steel Corporation has reported fourth quarter 2022 net earnings of USD 174 million as compared to fourth quarter 2021 net earnings of USD 1.07 billion. Full-year 2022 net earnings were USD 2.52 billion as compared to full-year 2021 net earnings of USD 4.17 billion. US Steel President & Chief Executive Officer Mr David B Burritt said “2022 was another exceptional year for US Steel, marking our second-best financial performance in the Company’s history. Our fourth quarter results exceeded our guidance expectations thanks to the combined efforts of our domestic steelmaking operations and Tubular segment. This includes positive EBITDA in December at our Mini Mill segment, reflecting improving momentum through year-end while continuing to work through higher priced raw materials purchased earlier in 2022. Each of our operating segments contributed meaningfully to 2022’s success, while delivering record safety performance and strong operational excellence, quality, and reliability for our customers.”
    
    -------------------
    
    Shipments 2022
    
    Flat-Rolled - 8,373 million ton, down 7% YoY
    
    Mini Mill - 2,287 million ton, up 3% YoY
    
    US Steel Europe - 3,759 million ton, down 13% YoY
    
    Tubular - 523 million ton, up 18% YoY
    
    Total Steel Shipments - 14,942 million ton, down 7% YoY
    
    -----------------------------------
    
    Average Realized Price 2022
    
    Flat-Rolled – USD 1,261 per ton, up 8% YoY
    
    Mini Mill – USD 1,134 per ton, down 14% YoY
    
    US Steel Europe – EUR 1,029 per ton, up 26% YoY
    
    Tubular – USD 2,978 per ton, up 76% YoY
    
    Mr Burritt added “We are well-positioned for 2023. Our record cash and liquidity support a balanced capital allocation approach. We returned approximately $900 million to stockholders in 2022 and plan to continue rewarding stockholders in 2023 while investing in the business. We are already delivering on strategic commitments, including the Gary Works pig iron machine that was commissioned ahead of schedule and on-budget. Later this year, our non-grain oriented electrical steel line at Big River Steel will begin producing advanced steel grades to meet the growing electric vehicle demand. 2023 is a pivotal year in our strategy and we look forward to demonstrating continued progress towards our Best for All future.”
13. voda 3 februari 2023 07:09

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    TRA Progresses on AD Duty Reviews on Steel Plates from China
    
    Strategic Research Institute
    Published on :
    3 Feb, 2023, 5:48 am
    
    UK’s Trade Remedies Authority has published its interim findings in a transition review of an anti-dumping measure on imports of heavy plate steel from China. The?TRA is assessing a trade remedy measure on imports of heavy plate from China to establish whether duties are still needed to counter dumping of these imports in the UK at prices below what they would be sold for in their home country. The TRA has proposed in its initial findings that the measure is retained on these imports until 1 March 2027. TRA Chief Executive Mr Oliver Griffiths said “Our provisional finding is that the UK should retain existing tariffs protecting domestic producers of heavy plate steel, concentrated in Motherwell and Gateshead, from unfair Chinese imports. The economic analysis has also given weight to the projected negative impacts on the upstream steel supplier if the measures were revoked.”
    
    The TRA has provisionally found that if the anti-dumping duties on heavy plate were removed, dumping and injury to UK producers would likely recur, and maintaining measures will benefit UK producers and their suppliers without materially harming any other UK interests. Businesses which may be affected by the investigation (such as importers or exporters of the products or UK producers of similar products) can read this report and comment via the TRA’s online case platform before 2 March. Once the TRA has reviewed any further evidence, it will submit its final recommendation to the Secretary of State for International Trade, who will make a decision on whether to retain the measure.
    
    This measure covers certain flat products of non-alloy or alloy steel which are often used in the manufacture of construction, mining and logging equipment, in oil and gas pipelines, for ship-building and construction of bridges and buildings. The UK imports around 100 tonnes of heavy plate from China annually.
    
    The TRA has also launched transition review?into anti-dumping measures on imports of corrosion resistant steel from China. These measures are among those inherited from the EU system and the TRA is reviewing them to establish whether they are still suitable for the UK’s needs. The review will establish whether the measures are needed to protect the UK industry. The TRA’s investigation will look at a period from 1 January 2022 until 31 December 2022, while the injury period will be 1 January 2019 until 31 December 2022.
    
    The products in scope of this review are flat rolled, iron/alloy/non alloy steel, plated or coated by hot dip galvanized with zinc and/or aluminium and/or magnesium – this is a process which effectively makes the steel rustproof. Primarily used in the construction and automotive industries, corrosion resistant steel lends itself to various end uses, such as car structures, steel vents and fencing.
14. voda 3 februari 2023 07:09

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    NMDC Hikes Iron Ore Prices by 15%
    
    Strategic Research Institute
    Published on :
    3 Feb, 2023, 5:48 am
    
    Taking a cue from increase in iron ore prices in China and surging steel prices in India, India’s state owned leading iron ore miner NMDC has announced price hikes for lumps & fine
    
    Lumps Fe 65.5% - INR 4400 per tonne, up 2% or INR 100 over January price
    
    Fines Fe 64% - INR 3910 per tonne, up 15% or INR 500 over January price
    
    The FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes.
15. voda 6 februari 2023 07:19

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    Energy-Intensive Industries Welcome EU’ Green Deal Industrial Plan
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 5:58 am
    
    14 industry associations for Energy Intensive Industries have welcomed the renewed attention to the competitiveness of the EU industry vis à vis its international competitors as a key enabler of the energy transition and essential to create long-term and sustainable growth for the EU economy and EU citizens. They wrote “To achieve these objectives it is essential to develop a comprehensive and coherent financial framework based on support for strategic value chains and with a strong focus on EIIs, as these are enablers of the transition to a circular and climate-neutral European economy. The Green Deal Industrial Plan should take the example of the IRA. It shows that it is possible to have a proactive industrial policy providing support to long-term investments based on the technologically neutral principle and on a full value chain approach.”
    
    They also wrote “It is fundamental that the EU re-assesses its industrial policy focusing on international competitiveness and develop a business-friendly legislative framework reducing the red-tape, attracting investments, ensuring policy coherence and legal certainty. A strong focus should be put on the decarbonization of energy-intensive sectors, through a focus on a wide range of technologies such as hydrogen, carbon capture, utilization and storage, low-carbon products and the development of the related infrastructure.”
    
    They highlighted “European companies have been already suffering from soaring energy prices, which risk widening the imbalance in terms of competitiveness with the US and other competitors if high energy costs remain persistent. The strategy must contain measures to ensure access to affordable, renewable and low carbon energy for industry's decarbonization. The financial and support legislative framework should be re-assessed and improved through the: simplification of the conditions to access to EU funds, especially for EIIs; creation of new supporting schemes based on the technologically neutral principle and the reduction of the administrative and compliance costs for the EU industries.’
    
    Energy Intensive Industries provide direct employment to around 2.6 million people and represent the foundations of critical and strategic value chains for the EU economy and society and the joint statement was signed by
    
    Koen Coppenholle Chief Executive of Cembureau
    
    Jori Ringman Director General of CEPI
    
    Renaud Batier Director General of Cerame-Unie
    
    Rodolphe Nicolle Secretary General of Eu LA
    
    Bob Lambrechts Secretary General of EuroAlliages
    
    Guy Thiran Director General of Eurometaux
    
    Axel Eggert Director General of Eurofer
    
    Rolf Kuby Director General of Euromines
    
    Paul Voss Director General of European Aluminium
    
    Mara Caboara Secretary General of EXCA
    
    Jacob Hansen Director General of Fertilizers Europe
    
    John Cooper Director General of FuelsEurope
    
    Adeline Farrelly Secretary General of Glass Alliance Europe
    
    Peter Claes President of IFIEC Europe
16. voda 6 februari 2023 07:20

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    Tata Steel Opens Innovation Centre for at IIT (ISM) Dhanbad
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 5:59 am
    
    Tata Steel has established a Centre for Innovation in Mining and Mineral Beneficiation at the Indian Institute of Technology ISM Dhanbad. The Company aims to strengthen its long-term competitiveness through excellence in developing technological solutions in natural and urban mining and beneficiation for value from low grade and difficult ores. The Centre will enable growth of relevant research infrastructure, attract talent, and help strengthen industry-academia collaborative eco-system in areas of strategic national importance. Creation of this Centre is aligned to Tata Steel’s focus on building closer ties with centers of academic excellence and set up technology clusters in identified, strategic areas.
    
    Technology-enabled leadership is expected to have a significant impact on India’s share of global trade in the emerging knowledge economy. Given the complexities of technical issues in indigenous raw materials, it is critical that industry and academia collaborate to achieve technology leadership, research excellence, and breakthrough technological solutions of national significance.
17. voda 6 februari 2023 07:20

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    SAIL BSL Implements QR Code System at Central Store
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 5:59 am
    
    The Pioneer reported that moving towards digitization, Steel Authority of India Limited’s Bokaro Steel Plant has implemented a QR code system to identify different types of material in MW-26 Depot of Central Store.
    
    With the launch of QR code in the MW-26 depot of Central Store, the departments of the plant will be able to easily identify different types of materials for their use, which will also reduce inventory. I
    
    The initiative to use QR code to identify materials in the entire cell has been taken by the Material Management Division of Bokaro Steel Plant for the first time.
18. voda 6 februari 2023 07:21

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    Mitsubishi Steel’s Income Shrinks by 64% in Apr-Dec’22
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 6:00 am
    
    Mitsubishi Steel has reported that the Group posted consolidated net sales of JPY 126,447 million yen in the cumulative period through the third quarter of the fiscal year under review, an increase of JPY 22,115 million up 21% YoY while consolidated operating income was JPY 2,873 million down 38% YoY due to widening losses at the North American Springs subsidiary and other factors. Net income attributable to owners of parent was JPY 1,234 million down 64% YoY
    
    The sales in the Special Steel Bars Business were JPY 75,990 million up 22% YoY due to efforts to adjust selling prices to reflect the devalued yen and the rising cost of raw materials and energy. Progress in reflecting rising costs in selling prices helped generate growth in operating income for the domestic business. Overseas, profits at the Indonesian business rose due to increased production and efforts to adjust selling prices to reflect rising scrap prices. Overall, the Special Steel Bars Business posted operating income of JPY 4,738 million up 8% YoY
    
    In the Springs Business, thanks to recovering demand, automotive production increased, primarily in North America. This was despite the impact of the Shanghai COVID-19 lockdowns and the tight supply of semiconductors and other components. These and other contributing factors, including steady demand for construction machinery, the translation effects of the weaker yen, and efforts to adjust selling prices to reflect higher raw material prices, contributed to year-on-year growth of JPY 8,866 million yen in net sales up 26%% YoY in the Springs Business to JPY 42,917 million. Operating losses for the Springs Business as a whole grew by JPY 1,787 million. Contributing factors included production disruptions that persisted from the second half of the previous fiscal year and cut productivity, emergency shipping and other additional costs, and losses magnified by yen depreciation at the North American subsidiary.
    
    Despite orders for new special alloy powder products, sales volumes in the Formed & Fabricated Products Business fell due to customer inventory adjustments on parts for automotive internal combustion engines and discontinued production of Esco cast steel products. At the same time, adjustments in selling prices to reflect rising raw material costs helped drive net sales, which increased JPY 197 million up 3% YoY to JPY 7,939 million yen. Operating income declined JPY 220 million down 30% YoY to JPY 513 million due to lower sales volumes and the failure of price increases to keep pace with various rising costs, including the rising cost of raw materials.
19. voda 6 februari 2023 07:22

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    Ukraine Suspects Ferrexpo's Poltava Chief Accountant of Fraud
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 6:00 am
    
    Interfax has reported that Ukrainian law enforcement suspects that chief accountant of Ferrexpo’s Poltava Mining and Processing Plant of committing actions that led to significant losses for the state. Ukrainian media, citing the SBU's Telegram channel, said “The Security Service of Ukraine, or SBU, together with the Economic Security Bureau and the Prosecutor General's Office, reported they had suspicions about one of the top managers of the Poltava Mining and Processing Plant, which is part of the Ferrexpo group of companies and owned by a fugitive Ukrainian oligarch.”
    
    According to the service, the actions of the suspect led to the enterprise evading rent payments of about UAH 2 billion, or about USD 55 million, to the state budget for the use of the iron ore deposit subsoil. The conclusions of comprehensive examinations conducted during the pre-trial investigation confirmed the amount of damages. The investigation found that between 2018 and 2021, the manager entered false information into the official documents of the enterprise. This caused significant losses to the state
    
    Criminal proceedings were opened under Ukrainian Criminal Code Part 3.212 for evasion of taxes or fees, and Part 1.366, for forgery by an official. The issue of whether or not the suspect should be arrested and incarcerated is being determined. The SBU is continuing to identify all individuals who may be involved in the commission of the offense.
20. voda 6 februari 2023 07:23

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    ArcelorMittal Dofasco Plans Gas Pipeline for Green Steel Project
    
    Strategic Research Institute
    Published on :
    6 Feb, 2023, 6:01 am
    
    The Hamilton Spectator has reported that ArcelorMittal Dofasco says its plan to transition to green steel by 2028 hinges on the construction of a 14-kilometre natural gas pipeline in Hamilton. The report quoted ArcelorMittal Dofasco’s Corporate Affairs Vice President Mr Tony Valéry said “The phasing out of coke ovens and blast furnaces in favor of electric arc furnaces will eliminate three million tonnes of carbon dioxide, says, of corporate affairs. The CAD 1.8 billion projects is expected to double demand for natural gas from roughly 500 million cubic meters to more than a billion. But it’s very important that we’re able to execute this project on time and on budget.”
    
    Mr Valeri said “ArcelorMittal Dofasco is exploring alternatives such as hydrogen but part of the challenge is having enough supply to fuel operations in the short term. This is really the first phase to the transition to net zero or low-carbon steel.”
    
    The hope is to receive board approval in August 2024 to allow construction to start in the spring of 2025 and wrap up by the end of that year. The transition of production is to start in 2026, with the existing and new operations producing in tandem until full phase-out of the former in 2028
    
    The pipeline project, which doesn’t yet have a price tag, requires environmental studies, public consultation and various permits. ArcelorMittal Dofasco and partner Enbridge’s preferred pipeline route would require municipal permits to build along city roads. The preferred option would see the pipeline constructed along Highway 56, Upper Centennial Parkway, Barton Street East and Kenilworth Avenue North to the steelmaker. That trajectory involves the least amount of impact on natural areas, including a less favourable alternative through King’s Forest Golf Club.