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Home  /   Forum   /   Arcelor Mittal   /   Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
23,040   +0,050   (+0,22%) Dagrange 22,780 - 23,040 160.899   Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 4)

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35.173 Posts
Pagina: «« 1 ... 1754 1755 1756 1757 1758 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 16 juni 2023 08:33
    thyssenkrupp & Mercedes-Benz Join Forces for CO2 Reduced Steel

    The forthcoming DR-plant is set to play a pivotal role in thyssenkrupp's pursuit of sustainable practices. It will operate in conjunction with melting units, harnessing the power of green hydrogen. By employing this innovative technology, CO2 emissions inherent in the traditional blast furnace process can be significantly curtailed, all while upholding product quality. Consequently, this breakthrough technology promises to reduce the carbon footprint of products, especially in industries like automotive where steel content is high. thyssenkrupp Steel's endeavors to lead the green steel markets of the future are beginning to bear fruit, exemplifying their commitment to assisting automotive partners like Mercedes-Benz in achieving their decarbonization targets.

    Heike Denecke-Arnold, COO of thyssenkrupp Steel, expressed delight at the agreement, affirming that the CO2reduced steels destined for Mercedes-Benz will originate from the new DR-plant's production route, starting in 2026. These steels will be made available throughout the entire lifecycle of the respective vehicle series. Denecke-Arnold emphasized the company's dedication to supporting Mercedes-Benz in their journey towards carbon-neutral passenger car production.
  2. forum rang 10 voda 16 juni 2023 08:35
    Kalmar Introduces Sustainability Options for Electric Reachstacker

    Kalmar, a division of Cargotec, has unveiled a remarkable array of sustainability options for its eco-efficient electric reachstacker during the TOC Europe conference in Rotterdam, the Netherlands. These novel options, now available, position Kalmar's electric reachstacker as the epitome of sustainability in its class.

    Kalmar customers can now opt for their electric reachstacker to be constructed using 47% SSAB Zero™ steel, a revolutionary material crafted from recycled steel, produced through the use of fossil-free electricity and biogas. The collaboration between Kalmar and SSAB in May 2023 marked a significant milestone in bringing SSAB Zero to the cargo and load-handling industry.

    Beyond the implementation of SSAB Zero steel, customers can further enhance sustainability by replacing standard oil with PANOLIN biodegradable hydraulic oil. Additionally, tire longevity can be extended through eco driver training and a tire pressure monitoring system. Notably, Kalmar introduces an emission-reducing counterweight composed of unprocessed naturally heavy material, effectively replacing the conventional cast-iron counterweight.

    The Kalmar electric reachstacker, introduced in December 2021, empowers cargo-handling operations with lifting capacities of up to 45 tonnes, elevating eco-efficiency while preserving unparalleled productivity and safety standards. The reachstacker offers a diverse range of modular battery options and charging solutions to accommodate various operational requirements.

    Mette Kjems Bærentzen, Head of Sustainability at Kalmar, emphasizes the imperative for businesses to proactively mitigate CO2 emissions and embrace electric solutions to reduce their carbon footprint. Going electric not only aligns with the current need for sustainability but also ensures preparedness for a low-carbon future. Kalmar remains committed to enhancing the sustainability of cargo-handling solutions, empowering customers to address the pressing demand for carbon footprint reduction through equipment that excels in both operational and construction sustainability.
  3. forum rang 10 voda 16 juni 2023 08:35
    Knauf Interfer to Procure Eco Friendly Steel from thyssenkrupp

    Knauf Interfer, a prominent German steel distribution group, has recently forged a significant agreement with thyssenkrupp Steel Europe, focusing on the procurement of CO2-reduced steels. This partnership underscores their joint commitment to promoting sustainable practices within the steel industry.The agreement primarily centers around Knauf Interfer's Stahl Service Centre, Cold Rolling, and Automotive Blanks units. These divisions play a pivotal role in the distribution and processing of steel, making them crucial in the adoption of environmentally friendly practices.

    By sourcing CO2reduced steels, Knauf Interfer aims to minimize the carbon footprint associated with its steel operations. This move demonstrates their dedication to sustainability and aligns with their overarching vision of fostering a greener future for the industry.

    The collaboration with thyssenkrupp Steel Europe provides Knauf Interfer with access to high-quality steels that have undergone rigorous CO2 reduction processes. This ensures that the materials procured meet stringent environmental standards without compromising on quality or performance.
  4. forum rang 10 voda 16 juni 2023 08:35
    Jindal Stainless Ropes Dassault Systèmes for Production Planning & Execution

    India's prominent stainless steel manufacturer, Jindal Stainless, has announced a strategic collaboration with Dassault Systèmes to enhance its production planning, scheduling, and execution processes. Following its recent merger and capacity expansion to 2.9 million metric tons per annum, Jindal Stainless aims to seamlessly manage its end-to-end production and operations between locations in Hisar (Haryana) and Jajpur (Odisha). By adopting an integrated and automated approach, Jindal Stainless seeks to achieve optimized resource utilization, efficient capacity balancing, real-time data synthesis, and accurate predictions, all while upholding stringent quality standards.

    Mr. Abhyuday Jindal, Managing Director of Jindal Stainless, described the partnership as a bold step toward dismantling outdated systems and embracing digital transformation and automation. He highlighted Jindal Stainless' pioneering digitization of the entire customer journey in the Indian stainless steel industry and emphasized the current effort to integrate operational technologies through real-time dashboards for faster decision-making. These endeavors align with Jindal Stainless' vision of diversification, expansion, long-term growth, and innovation in the stainless steel sector. The implementation of DELMIA Quintiq and Apriso solutions plays a pivotal role in this transformative journey.

    Corinne Bulota, Vice President of Infrastructure, Energy, and Materials Industry at Dassault Systèmes, emphasized the support provided by their solutions to environmentally conscious steel production, exemplified by forward-thinking partners like Jindal Stainless. By utilizing industry-specific solution experiences and leveraging DELMIA Quintiq and Apriso applications, Jindal Stainless gains real-time visibility, simulation capabilities, and optimization tools, facilitated by a single source of truth. The virtual twin experience of Jindal Stainless' production systems enhances operational efficiency, improves product quality, and empowers data-driven decisions toward decarbonization efforts in steelmaking.

    Jindal Stainless will deploy Dassault Systèmes' "Operations Planning and Scheduling Excellence" industry solution experience, built on the 3DEXPERIENCE platform and powered by DELMIA applications. This deployment aims to meet customer targets, deliver reliable performance, and optimize processes. Anticipated benefits include a 10-15% reduction in lead time and an 8-10% decrease in work-in-progress inventory.

    By streamlining processes and meeting customer demands more effectively, Jindal Stainless not only seeks to strengthen its position in key sectors such as automotive and infrastructure but also expand into new realms like lifestyle, aerospace, and defense. This partnership aligns with Jindal Stainless' commitment to sustainability, as it further reduces product diversions and quality rejections, ultimately minimizing its carbon footprint. These efforts will not only benefit the environment but also drive cost reduction and efficiency improvement for Jindal Stainless. Stay updated on this collaboration and its impact on the stainless steel industry.
  5. forum rang 10 voda 16 juni 2023 08:36
    MPI Exploring the Impact of Hydrogen on Heat-Resistant Materials

    The Materials Processing Institute announced a groundbreaking research partnership with Trent Refractories and Kanthal, aiming to study the potential implications of hydrogen as an alternative fuel source on heat-resistant materials used in industrial processes. The three-year research agreement will focus on refractories, the high-temperature linings for furnaces, crucibles, kilns, and ladles primarily employed in the iron and steel sector.

    The research will investigate the impact of hydrogen on refractories, aiming to identify any potential degradation caused by its usage. Trent Refractories, headquartered in Scunthorpe, will supply the necessary refractory materials for comprehensive testing at the Materials Processing Institute. Advanced techniques such as microscopy and porosity tests will be employed to examine samples in hydrogen-rich atmospheres.

    Kanthal, a Swedish industrial heating technology company, seeks to promote the use of electric furnaces and green steel. Combined with advancements in hydrogen production processes, these innovations are set to revolutionize the global steel industry over the next few decades. The Materials Processing Institute will evaluate a series of electrical elements designed by Kanthal that can withstand the high heating values of hydrogen in its state-of-the-art hydrogen research facilities.

    In addition to refractories, the research project will explore the suitability of various electrical elements for high-temperature applications under aggressive hydrogen atmospheres. By testing and assessing new materials, the aim is to ensure their readiness for widespread adoption as clean hydrogen becomes increasingly integrated into industrial processes.

    Mr Chris McDonald, CEO of the Materials Processing Institute, emphasizes the far-reaching implications of the collaborative research program. Refractory solutions play a crucial role in industries such as iron and steel, aluminium, glass, power generation, petrochemicals, chemicals, and cement. With hydrogen being extensively used at the institute, it is vital to evaluate its usage and contribute to long-term solutions that support the UK's transition to a low-carbon economy.

    Jesper Ejenstam, R&D Manager of Kanthal, emphasizes that the industry is embarking on a new era of decarbonization with a shift towards electrification and the use of clean fuels like hydrogen. Kanthal takes pride in participating in research endeavors that ensure innovations are industry-ready and aligned with the evolving needs of the sector.
  6. forum rang 10 voda 16 juni 2023 08:37
    Sustainable Solutions: Iowa's Collaboration in Renewable Energy

    Governor Kim Reynolds of Iowa recently joined representatives from Arcosa Wind Towers, MidAmerican Energy, and SSAB Americas to highlight the role of creativity and innovation in driving sustainable solutions for products and communities. This collaboration demonstrates how the Hawkeye State is advancing efforts across North America towards a greener future.

    Governor Reynolds expressed pride in Iowa's position as a leader in renewable energy, with the partnership between SSAB, Arcosa, and MidAmerican Energy serving as an example. Their joint efforts aim to produce zero carbon emissions steel, utilizing wind-powered electricity and reinforcing Iowa's reputation as a hub for clean energy innovation.

    Chuck Schmitt, President of SSAB Americas, commended Governor Reynolds for her leadership in developing economic fundamentals that foster growth, creativity, and success. He emphasized the stable and clean electricity supply in Iowa, which drives manufacturing, supports agriculture, and provides efficient lighting, heating, and cooling for all Iowans.

    Iowa's commitment to supporting a sustainable supply chain for industry and manufacturing is evident in the collaborative endeavors of SSAB, Arcosa, and MidAmerican. For instance, in Muscatine, Iowa, SSAB Americas utilizes renewable wind energy from MidAmerican Energy to produce the world's most sustainable steel products, including the groundbreaking SSAB ZeroTM, the first 0.0 CO2e steel plate.

    Arcosa Wind Towers, located in Newton, Iowa, fabricates highly sustainable steel wind tower products using SSAB Americas' steel plate. These towers are then used by MidAmerican Energy to generate renewable electricity through wind turbines, which, in turn, powers SSAB Americas' steel operations.
  7. forum rang 10 voda 16 juni 2023 08:37
    DGTR Recommends AD Duty on Chinese Steel Wheels

    The Directorate General of Trade Remedies (DGTR), the investigation arm of the India’s commerce ministry, has recommended the continuation of the anti-dumping duty on Chinese steel wheels for an additional five years. This move aims to safeguard domestic players in the steel industry by countering the threat of cheap imports.

    In a recent notification, the DGTR stated that maintaining the existing duties on Flat Base Steel Wheels imported from China would effectively address and mitigate the potential harm to the local players. The authority strongly believes in the necessity of recommending the continuation of the definitive anti-dumping measures.

    As per the DGTR's recommendation, a duty of USD 613 per metric ton has been proposed for the product. However, the final decision to impose this duty lies with the finance ministry, which will carefully consider the matter.

    The Chinese steel wheels subject to the duty find application in tubed tire usage within commercial vehicles. The DGTR's investigation concluded that the likelihood of dumping and injury to the domestic industry persists if the existing duties are not extended.

    Wheels India and Steel Strips raised concerns about the continuation or recurrence of dumping in their application to the DGTR. They urged for a sunset review investigation to prolong the imposition of anti-dumping duties.

    The anti-dumping duty on Chinese steel wheels was initially imposed by the revenue department on September 13, 2018, for a period of five years. The recommendation to extend the duty reflects the diligent efforts of the DGTR to protect the interests of the Indian steel industry and maintain a level playing field for domestic manufacturers.
  8. forum rang 10 voda 16 juni 2023 08:38
    UK Revokes Countervailing Measure on Indian Stainless Steel Import

    The Trade Remedies Authority (TRA) has announced that the UK Government has agreed to revoke the countervailing measure on imports of stainless steel bars and rods from India. Countervailing measures are implemented to counteract unfair pricing resulting from government subsidies in the country of origin. The TRA conducted an investigation and determined that the UK industry would not be significantly impacted if the measure was removed.

    UK Steel, the trade association representing the UK steel industry, stated that the risk of injury to domestic producers resulting from the removal of the measure is very low. The UK market has minimal supply of stainless steel bars and rods from domestic producers. Therefore, the TRA concluded that revoking the measure would not harm UK producers but would allow for competitively-priced imports from India to continue.

    India has been the third-largest source of stainless steel bars and rods for the UK in terms of tonnage in 2022. Previously, importers had to pay a tariff of 0%-4% due to the countervailing measure. However, the TRA's investigation revealed that market conditions, historical injury data, and international competition did not indicate potential harm to UK producers if the measure was lifted.

    Stainless steel bars and rods are widely used across various industries, including automotive, aerospace, and food processing. They serve as essential components in larger products or are further processed into precision components. By allowing competitive imports from India to continue, revoking the countervailing measure supports the availability of these materials in the UK market.
  9. forum rang 10 voda 16 juni 2023 08:38
    USITC Finds Injury, Indian Non Refillable Steel Cylinder Imports

    The United States International Trade Commission (USITC) has made an affirmative determination that imports of non-refillable steel cylinders from India are causing material injury to a US industry. These imports are alleged to be sold in the United States at prices lower than fair value and to be subsidized by the government of India. Chairman David S. Johanson and Commissioners Rhonda K. Schmidtlein, Jason E. Kearns, Randolph J. Stayin, and Amy A. Karpel voted in favor of the determination.

    Following this decision, the US Department of Commerce will continue its investigations into the imports of non-refillable steel cylinders from India. The preliminary countervailing duty determination is expected to be announced around July 21, 2023, while the preliminary antidumping duty determination is anticipated by October 4, 2023.

    The investigated non-refillable steel cylinders are seamed (welded or brazed) and range in size from 100-cubic inch (1.6 liter) water capacity to 1,526-cubic inch (25 liter) water capacity and can be imported with or without valves and pressure-release devices. However, they are unfilled at the time of importation.

    Worthington Industries, Inc., based in Columbus, OH, is the petitioner for these investigations. The USITC initiated the investigations on April 27, 2023, and held a conference on May 18, 2023. The final vote took place on June 9, 2023, with the USITC notifying the Commerce Department of its decision on June 12, 2023.
  10. forum rang 10 voda 16 juni 2023 08:40
    Japan Selects Two CCS Projects Involving Nippon Steel

    Japan has made a momentous decision by selecting its inaugural seven carbon capture and storage (CCS) projects, as announced by Minister of Economy, Trade and Industry Yasutoshi Nishimura on June 13. These projects will aim to store a total of 13 million metric tons per year of CO2 within Japan and internationally by 2030, serving as a significant stride towards achieving carbon neutrality by 2050.

    During a press conference, Minister Nishimura expressed the goal of securing a CO2 storage capacity of 13 million metric tons per year by 2030. Looking ahead, Japan aims to reach a storage volume of 120 million to 240 million metric tons per year by 2050, emphasizing the potential of these projects to serve as pioneering business models. This announcement marks the beginning of Japan's journey in the CCS sector.

    To fulfill its objectives, Japan recognizes the importance of launching CCS businesses by 2030 and increasing CO2 storage volumes by 6 million to 12 million metric tons per year, aligning with the long-term CCS roadmap plan approved on January 26. The government plans to initiate a geological survey starting in the fiscal year 2023-24 to identify suitable locations for CCS. Previous surveys have already identified 11 reservoirs across the country capable of storing a combined total of 16 billion metric tons of CO2.

    Among the selected projects is a CCS initiative situated in the Japan Sea region of Tohoku, developed by Itochu, Itochu Oil Exploration, Mitsubishi Heavy Industries, Nippon Steel, INPEX, Taisei Corp, and Taiheiyo Cement. This project aims to store 2 million metric tons of CO2 per year, sourced from various industries including steel mills and cement plants nationwide.

    Additionally, the government has chosen a CCS project led by Mitsubishi, Nippon Steel, and ExxonMobil Asia Pacific in Oceania. This project intends to store 2 million metric tons of CO2 per year, derived from multiple industries such as steel mills in the Chubu region of Japan.

    Japan's selection of these CCS projects demonstrates its commitment to mitigating carbon emissions and working towards a sustainable future. Stay informed about the progress of these initiatives and Japan's pursuit of carbon neutrality.
  11. forum rang 10 voda 16 juni 2023 08:40
    India Seeks Exemption for MSMEs from EU Carbon Tax

    India's policy think tank, NITI Aayog, has drawn attention to the repercussions of carbon taxes on the metals industry and the objective of export-led growth. Commerce Secretary Sunil Barthwal announced that India has requested an exemption for its MSMEs (Micro, Small, and Medium Enterprises) from the European Union's impending carbon tax. The levy, known as the Carbon Border Adjustment Mechanism (CBAM), is scheduled to take effect from October 1 of this year.

    A report from the think tank GTRI indicates that CBAM could result in a 20-35% tax on specific imports into the EU, beginning on January 1, 2026. Starting in October, domestic companies in carbon-intensive sectors such as steel, cement, fertilizer, aluminum, and hydrocarbon products will be required to obtain compliance certificates from EU authorities to adhere to CBAM norms.

    Stakeholders' consultations were held last month to discuss industry preparedness for CBAM compliance. The compliance process consists of two parts: data filing starting in October and the subsequent imposition of the tax. Secretary Barthwal raised concerns with EU authorities during the Trade and Technology Council meeting in Brussels, emphasizing the potential impact on India's industry, particularly MSMEs. Discussions are ongoing to explore the possibility of a carve-out for the MSME sector.

    Both India and certain other countries have expressed concerns about CBAM to the World Trade Organization (WTO). India submitted a paper on the topic in February, aiming to address the issue at the multilateral level. As per the GTRI report, India's exports of iron, steel, and aluminum products worth USD 8.2 billion, accounting for 27%, were directed to the EU in 2022.
  12. forum rang 10 voda 16 juni 2023 08:41
    Outokumpu Appoints Marc-Simon Schaar as Chief Procurement Officer

    Outokumpu, a renowned global stainless steel producer, has announced the appointment of Marc-Simon Schaar as its Chief Procurement Officer, effective immediately. Mr. Schaar, holding a Master's degree in International Business, brings a wealth of experience to this pivotal role, having served in senior positions within Outokumpu since 2011, specializing in finance, M&A, and raw materials procurement.

    With the newly established position, which encompasses both raw material and general procurements, Outokumpu aims to achieve synergies across its purchasing operations. This strategic move is designed to mitigate the impact of cost pressures and contribute to the company's ongoing decarbonization journey.

    Heikki Malinen, the CEO of Outokumpu, expressed his utmost delight in welcoming Marc-Simon Schaar to the esteemed Outokumpu Leadership Team. Emphasizing the importance of the new role, Mr. Malinen highlighted the criticality of implementing Outokumpu's raw materials strategy in the pursuit of decarbonization. He praised Mr. Schaar's extensive experience within various areas of Outokumpu, underscoring his strong foundation to excel in this significant position.

    Based in Germany, Marc-Simon Schaar will report directly to CEO Heikki Malinen. As the Chief Procurement Officer, Mr. Schaar's appointment marks an important milestone for the company, solidifying Outokumpu's commitment to optimizing procurement operations and driving sustainable practices.
  13. forum rang 10 voda 16 juni 2023 08:41
    Zaporizhstal Steel Plant Endures Russian Aggression

    Zaporizhstal, located in Zaporizhzhia, Ukraine, stands defiant in the face of constant missile threats from Russian forces. Despite the air raid alarms, workers like Oleksii Klashnik continue their duties in the steel plant's scorching heat, ensuring the molten metal reaches temperatures up to 1,100 degrees Celsius. Zaporizhstal, a symbol of resilience in Ukraine's battered economy, remains unscathed, but the echoes of nearby explosions remind everyone of the ongoing conflict, reports Stripes

    Founded in 1933, Zaporizhstal is renowned for producing cold-rolled steel sheets crucial for the automotive industry. Despite the war, the plant has operated since a temporary closure at the war's outset, retooling its operations to contribute to Ukraine's national defense. However, the war has taken a toll on the industry, with workforce reductions and a decline in production capacity.

    The steel industry's struggles reflect the broader challenges faced by Ukraine's economy since the invasion. With a 30% contraction in 2022, the country's economic recovery remains uncertain. Moreover, as global steel production shifts towards environmentally friendly methods, utilizing hydrogen instead of fossil fuels, Ukrainian steel producers fear falling behind due to the need for different iron ore.

    For those working in the steel industry, it is not only a struggle on an economic level but a personal one as well. Steel mills have historically been vital for local communities, serving as the backbone of the tax base and connecting generations of families. The loss of clients, the threat of hazardous working conditions, and reduced access to international shipping have further compounded the industry's challenges.

    The war's impact on steel production is evident in the city of Mariupol, where the Azovstal Steel Plant, a part of Metinvest, once stood as a symbol of Ukrainian military resistance. However, Russian occupation has left the plant decimated. Other steel mills in Ukrainian-held territories faced disruptions, including severed access to iron ore mines and rolling blackouts caused by targeted airstrikes.

    Additionally, the recent collapse of the Kakhovka dam and Russian blockades on Ukrainian ports have further exacerbated the challenges faced by steel producers. Despite these hardships, Zaporizhstal and other steel mills continue to operate, adapting to longer shifts and struggling to find skilled workers in a region where many have relocated or chosen different career paths.
  14. forum rang 10 voda 16 juni 2023 08:42
    Congressional Steel Caucus, Testimony of Lourenco Goncalves

    In his testimony before the Steel Caucus, Lourenco Goncalves, Chairman, President, and CEO of Cleveland-Cliffs, highlighted the company's efforts to reduce carbon dioxide emissions and their positive impact on clients, particularly in the automotive sector.

    Goncalves emphasized the potential of hydrogen-powered vehicles as a real alternative to battery electric vehicles and mentioned their role as the sole producer of Grain Oriented Electrical Steel (GOES) and Non-Oriented Electrical Steel (NOES) in the United States. These steels are crucial for distribution transformers, power transformers, and highly efficient electric motors used in electric vehicles.

    He addressed concerns raised by trade groups regarding the availability of domestically-produced electrical steel, stating that Cleveland-Cliffs had kept operations open and made investments to increase production despite challenges posed by imports and dumping from foreign players.

    He highlighted the importance of maintaining U.S. production capabilities for electrical steels, as a closure of domestic facilities would have negative consequences for the workforce and leave the country reliant on foreign sources, jeopardizing the electric grid's capabilities.

    Allowing unrestrained imports would threaten the continued production of GOES and NOES in the U.S., endangering national security, grid modernization, and vehicle electrification initiatives necessary for reducing greenhouse gas emissions across the economy. Goncalves expressed his appreciation for the support of the Steel Caucus and offered to address any questions they may have.

    Cleveland-Cliffs has invested around $50 million to increase production of GOES and NOES, but currently faces a situation where they have excess production due to customers' inability to receive and process the steel. Goncalves addressed claims by trade groups, stating that they do not overcharge customers for electrical steel and emphasized that the current production issues faced by clients in the transformer industry are unrelated to the supply of electrical steels from Cleveland-Cliffs.

    Cleveland-Cliffs achieved an impressive 32% reduction in greenhouse gas emissions in 2022 compared to a baseline set in 2017. This exceeded their 2030 goal of a 25% reduction, thanks to their investment in a state-of-the-art Direct Reduction Plant, which allowed them to use low-emissions direct reduced iron as feedstock in their blast furnaces. Additionally, they successfully conducted a hydrogen trial, injecting hydrogen into all 20 tuyeres of their blast furnace, a groundbreaking step towards decarbonization.
  15. forum rang 10 voda 16 juni 2023 08:42
    JSP Announces Restructuring Plan for Subsidiary

    Jindal Steel and Power has announced a restructuring plan for its subsidiary, Jindal Steel & Power (Mauritius) Ltd, in an effort to address financial challenges and reduce outstanding loans. The company conducted a comprehensive review of JSPML's balance sheet and approved the restructuring, resulting in a diminution of the value of outstanding dues by Rs 7,776.51 crore. This restructuring acknowledges the difficulties in recovering JSPL's investments in JSPML in the foreseeable future.

    JSPL had strategically invested in JSPML, which, in turn, made investments in mining assets globally. Despite continuous efforts to improve the performance of underperforming overseas subsidiaries by infusing funds, these subsidiaries were unable to turn around as expected due to various reasons. Factors such as global economic uncertainties have contributed to operational and financial difficulties, resulting in a significant erosion in the value of investments.

    The restructuring plan is expected to have no impact on JSPL's income statement, as provisions for losses related to this have already been made in the previous financial year. The company emphasizes that the promoter, promoter group, and group companies have no involvement or interest in this restructuring process, ensuring its independence and transparency.

    The restructuring plan aims to alleviate the financial burden and streamline operations, allowing JSPL to overcome the challenges posed by economic uncertainties and position itself for future growth. The company remains committed to its stakeholders and endeavors to navigate the evolving market dynamics effectively.
  16. forum rang 10 voda 16 juni 2023 08:42
    USTR Discusses Concerns over China's Industrial Sector & EV Imports

    U.S. Trade Representative Katherine Tai addressed concerns surrounding China's industrial sector and the surge in electric vehicle imports during her appearance at POLITICO's Global Tech Summit. While expressing sympathy for the European Union's worries, Tai refrained from endorsing any immediate action against these imports or committing the United States to follow suit.

    Tai acknowledged the long-standing fact pattern of China's rise in strategic industries, triggering apprehensions about the market-based nature of production and trade. She highlighted that this issue has been a matter of concern for the past couple of decades. The discussion arose following a POLITICO report revealing the European Commission's contemplation of launching an investigation, urged by France, which could result in additional levies, such as anti-dumping and anti-subsidy duties, on Chinese electric vehicle imports.

    When pressed about whether the United States would consider similar measures, Tai chose not to provide a direct answer. However, she emphasized that the concern raised was indeed significant, alluding to China's nonmarket behavior.

    Tai also underscored the ongoing collaboration between the United States and the European Union in addressing Chinese practices that distort trade and contribute to climate change. Specifically, they are currently negotiating a framework on steel and aluminum that aims to leverage the combined U.S.-EU market power to incentivize cleaner and market-based production.

    Chad Bown, a senior fellow at the Peterson Institute for International Economics, remarked that it is unsurprising for the EU to consider anti-dumping or anti-subsidy duties on the increasing imports of Chinese electric vehicles. However, he noted that the United States imports very few cars from China, including electric vehicles. Bown mentioned that the market situation was further complicated by former President Donald Trump's imposition of an additional 25 percent duty on Chinese autos and auto parts in 2018.

    Tai refrained from engaging in a debate regarding the merits of "de-risking" trade with China through targeted restrictions versus a complete decoupling of trade engagement. However, she stressed the need for diversifying supply chains outside of China, particularly in critical sectors such as steel, aluminum, solar panels, and critical minerals. The goal is to have more options, choices, and robust supply chains to mitigate risks and ensure a resilient trade ecosystem.
  17. forum rang 10 voda 16 juni 2023 08:43
    Bipartisan Letter Urges Biden to Oppose Steel Tariffs

    A bipartisan letter signed by 36 members of Congress has been sent to the Biden Administration, urging it to oppose proposed steel tariffs that could significantly impact consumers and manufacturers. The tariffs, put forward by Cleveland-Cliffs, a mining company based in Ohio, aim to increase the price of imported tinplate steel by up to 300%. The letter expresses concerns about the potential price increases and job losses for can manufacturers, emphasizing the unique challenges it poses to the Commerce Department and the U.S. economy.

    The members of Congress argue that the alleged anti-dumping margins of 132% would dramatically raise the cost of tinplate used for canned packaging, affecting a range of products including food cans, aerosol cans, and jar lids. They point out that imposing tariffs at a time of high inflation and grocery prices would further burden domestic manufacturers and consumers. Canned food items, being a low-cost option for American families, would be particularly impacted, affecting vulnerable populations, food banks, and those reliant on government nutrition and feeding assistance programs.

    Furthermore, the letter highlights the adverse effect of anti-dumping duties on domestic can manufacturing and the operations of U.S. can manufacturers, which could result in significant job losses. The members of Congress call for the protection of the U.S. steel industry and its downstream partners from unfair trade practices. They emphasize the importance of considering the availability, affordability, and accessibility of canned products for U.S. consumers, while recognizing the complexity of the tin mill steel market and the need to strengthen supply chains.

    The letter emphasizes that Chinese imports account for less than 10% of imported tin mill steel, with the majority coming from allied countries including European partners. They caution that imposing the proposed duties could open U.S. markets to foreign canned goods producers, potentially harming the U.S. steel industry and domestic manufacturers.

    The members of Congress urge the Commerce Department to carefully consider the quantities and types of tin mill steel produced in the United States and to conduct a thorough investigation to protect domestic manufacturers. They express confidence that the findings will reflect the importance of the U.S. market for tin mill steel products and demonstrate a commitment to strengthening supply chains and ensuring the availability of canned products for U.S. consumers.

    A diverse group of Members of Congress have come together to sign a petition, displaying their collective support and commitment to a cause. The distinguished list of signatories includes Adrian Smith, Andy Harris, M.D., Aumua Amata C. Radewagcn, Austin Scott, Ben Cline, Chuck Fleischmann, Cliff Bentz, Colin Allred, Dan Newhouse, Danny K. Davis, David Rouzcr, Derrick Van Orden, Diana Harshbarger, Don Bacon, Donald Norcross, Dusty Johnson, Jahana Hayes, James A. Himes, James P. McGovern, Jim Costa, John Garamendi, Marc Malinaro, Mark Amodei, Mark DeSaulnier, Neal P. Dunn, M.D., Pat Fallon, Robert E. Latta, Steve Cohen, Susan Wild, Vern Buchanan, and William Timmons.
  18. forum rang 10 voda 16 juni 2023 08:44
    ArcelorMittal Kryvyi Rih Partially Restarts Rolling Operations

    ArcelorMittal Kryvyi Rih in Ukraine has unveiled the resumption of a portion of its rolling operations, previously disrupted by water supply complications following the catastrophic event at the Nova Kakhovka water dam. Despite persistent challenges in securing an adequate water supply, the company is set to initiate a trial restart on June 15, exhibiting resilience in the face of adversity.

    The technical water supply at the mill has plummeted by over 60%. Prior to this calamity, water consumption stood at 2,500 cubic meters, whereas the current consumption has dwindled to less than one thousand. To adapt to this unprecedented predicament, certain facilities had to be temporarily halted. However, with newfound clarity, ArcelorMittal Kryvyi Rih deems it feasible to recommence operations at select rolling mills, while actively exploring alternative solutions to address the ongoing water supply challenge.

    While the water supply predicament persists, the mining sector experiences a comparatively more favorable situation due to an organized system of water re-usage for operational purposes. This system ensures a steady water supply for approximately two to three months of uninterrupted work, providing a temporary respite amidst the broader challenges.

    Previously, following the devastation caused by the water dam's destruction at Nova Kakhovka, ArcelorMittal Kryvyi Rih had been compelled to halt both its crude steel production and rolling operations. However, through strategic adaptation and unwavering determination, the company embarks on a trial restart, driven by the pursuit of operational continuity.
    Bijlage:
  19. forum rang 10 voda 16 juni 2023 08:45
    Collaboration Amplifies Tonnage Growth at Port of Tyne

    European Metals Recycling (EMR) and the Port of Tyne have entered into a transformative ten-year contract that promises to revolutionize the tonnage of ferrous and non-ferrous metals processed and shipped to various global destinations. As a trusted customer of the port for a remarkable 25 years, EMR's collaboration with the Port of Tyne is set to redefine the metal recycling landscape.

    EMR's cutting-edge facility located at the Port of Tyne serves as a hub for handling an impressive annual tonnage of 300,000 metric tons of scrap metal sourced from manufacturers, demolition companies, the general public, and skilled tradespeople. These materials undergo meticulous processing and are subsequently distributed to the Mediterranean, North America, and the Far East, where they are reconstituted and repurposed in everyday commodities such as automobiles, electronics, and household appliances.

    The Port of Tyne's state-of-the-art deep-water operation empowers EMR to transport up to 50,000 metric tons on a single vessel, with the port's proficient stevedoring team providing seamless port services exclusively for EMR.

    EMR's unwavering commitment to operational excellence is exemplified by its substantial investment of over £1 million ($1.25m) in its South Shields facility within the Port of Tyne. This investment has resulted in the employment of a dedicated workforce of approximately 30 individuals specializing in transportation, operations, and commercial activities. The firm has ambitious plans to further enhance the site's infrastructure, thereby expanding its operational capacity and ensuring greater flexibility.

    Scott Bamborough, EMR's astute ports manager in the UK, emphasizes the significance of the South Shields operation in their pursuit of becoming a net zero business by 2040. Through their sustained operations at the Port of Tyne, EMR aims to supply sustainable materials to their global clientele, contributing to their customers' efforts in reducing carbon emissions and combating climate change.
  20. forum rang 10 voda 16 juni 2023 08:45
    Gerdau Invests in New Steel Caster to Boost Clean Steel Production

    In accordance with Gerdau's recent announcement, the esteemed Brazilian steel manufacturer has initiated operations at a novel continuous caster facility within its Pindamonhangaba plant, nestled in the heart of Sao Paulo. An impressive investment totaling BRL 700 million ($146 million) has propelled the plant towards an elevated realm of technological advancement, empowering the production of immaculate steel. This metallurgical refinement not only augments the physical attributes of the final products but also enhances their longevity, effectively amplifying their desirability.

    Gerdau's illustrious CEO, Gustavo Werneck, expressed that this groundbreaking caster undeniably attests the company's unwavering dedication to the burgeoning Brazilian automotive sector. The focal point lies in satisfying the ever-increasing demand associated with hybrid and electric vehicle manufacturing. By aligning itself with this transformative industry, Gerdau aims to play a pivotal role in shaping its progress, all while upholding their cherished commitment.

    Notably, this investment forms an integral part of Gerdau's comprehensive modernization blueprint for their specialty steels operations, which is set to unfurl until 2025. The blueprint encompasses multifaceted initiatives such as plant maintenance, technological advancements, and an unwavering focus on environmentally sustainable practices. Through these endeavors, Gerdau strives to remain at the forefront of the steel industry's metamorphosis into a greener and more responsible domain.
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