Ontvang nu dagelijks onze kooptips!

word abonnee
IEX 25 jaar
Uitgebreid zoeken

Beurscodes, betekenis en hulp bij zoeken

Europa

AEX
Euronext Amsterdam
BRU
Euronext Brussels
PSE
Euronext Paris
LIS
Euronext Lissabon
CHX
CBOE Europe, grote(re) EU aandelen
NAV
Investment Funds (NAV)

Noord-Amerika

NYS
New York Stock Exchange
OTC
CBOE BZX Exchange (US)
TSE
Toronto Stock Exchange

Kunt u een instrument niet vinden?

Zoek dan via de zogenaamde ISIN code. Elk instrument, aandeel etc. heeft een unieke code.

Kies vervolgens - wanneer er meerdere resultaten zijn - de notering op de beurs van uw keuze.

Waar vind ik die ISIN code?

Google de naam van het instrument, aandeel etc. met de toevoeging 'ISIN'.

Als zoeken op ISIN code geen resultaten oplevert hebben wij het instrument of aandeel niet in onze koersendatabase.

desktop iconMarkt Monitor
Markt vandaag Koersen Forum Premium IEX Expert
Home  /   Forum   /   Arcelor Mittal   /   Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

Laatste koers (eur) Verschil Volume
22,260   -0,200   (-0,89%) Dagrange 21,930 - 22,300 4.404.827   Gem. (3M) 2,3M

Nieuws en info hier plaatsen (deel 4)

Volgen
35.173 Posts
Pagina: «« 1 ... 275 276 277 278 279 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 13 augustus 2015 16:47
    Study predicts 6500 job cuts if Port Kembla steelworks closes

    ABC reported that a new study suggests that an economic catastrophe would befall the Illawarra region of New South Wales if the Port Kembla steelworks were allowed to close. In addition to the 3,500 employees directly employed by the plant, the study by University of Wollongong sociologist Dr Scott Burrows predicted the loss of at least other 6,500 jobs. This would almost double the unemployment rate in the Illawarra, which at 8.3 per cent is already significantly higher than the national average.

    The study was commissioned by the Australian Workers Union.

    Launching its findings, branch secretary Mr Wayne Phillips predicted a grim future if governments did not support the steelworks. He said "The facts are that it's a hell of a lot worse than what we thought. If the steelworks shuts then there are thousands of people in this area that will be directly affected."

    Mr Phillips said the only hope was for governments to mandate at least 50 per cent locally produced steel in public infrastructure projects. He said "We have to do whatever we can now to force those that are in power to use Australian-made steel.”

    He added “The only way now that we are going to survive is to expose the problems that will occur in this area financially, economically, job-wise, the whole lot. We have to stop it."

    BlueScope Steel has said it needs to shave $50 a tonne off the cost of local steel production if the Port Kembla plant is to survive. The company issued a statement in June stating that no decision had been made to close the plant. But the statement added that manufacturing costs were still too high.

    Source : ABC
    Bijlage:
  2. forum rang 10 voda 14 augustus 2015 17:12
    ThyssenKrupp announces results for 9 months

    ThyssenKrupp CEO Dr Heinrich Hiesinger said “The industrial and technology group ThyssenKrupp is on track to meet its targets for the 2014/2015 fiscal year. The Executive Board expects a clear improvement in adjusted EBIT, net income and free cash flow before divestments. The full-year forecast has been confirmed on the basis of the Group's good operating performance in the first 9 months and in the 3rd quarter of the 2014/2015 fiscal year. Sales, adjusted EBIT and free cash flow before divestments increased again significantly in the reporting period. "The further earnings improvement reflects the progress we have made in implementing measures to increase efficiency. We are establishing a culture of increased performance enhancement in the Group.”

    In a continuing challenging economic climate order intake came to EUR 31.1 billion in the first 9 months, up slightly from the prior year (EUR 31.0 billion), with the Group benefiting from positive exchange rate effects thanks to the global positioning of its capital goods businesses. On a comparable basis, i.e. excluding currency and portfolio effects, new orders declined by 6 percent. Besides lower material and steel prices, the reason for this decline was a major shipbuilding order in the 1st quarter of the prior year. Also, against the background of volatile and falling oil and raw material prices, customers of Industrial Solutions showed a reluctance to place orders. Orders at Components Technology and Elevator Technology increased year-on-year, with the elevator business again reporting record new orders.

    Sales in the first 9 months increased year-on-year by 7 percent to a total EUR 32.2 billion (prior year EUR 30.1 billion). Positive exchange rate and portfolio effects and solid organic growth in the components and elevator businesses clearly outweighed the effects of steeply declining material and steel prices. On a comparable basis the increase was 1 percent.

    Adjusted EBIT from continuing operations in the first 9 months increased significantly by 33 percent to €1,261 million (prior year €945 million). The 3rd quarter contributed €539 million to this, improving by 33 percent compared with the 2nd quarter. The main driver of this improvement was the successful implementation of efficiency programs. Altogether the ThyssenKrupp Group generated net income of €279 million in the first 9 months (prior year €242 million). This includes the write-down taken in connection with the sale of the VDM group in the 2nd quarter 2014/2015. After deducting minority interest, net income for the period was €297 million (prior year €244 million); earnings per share came to €0.52 (prior year €0.44).

    Performance of the business areas in the first 9 months 2014/2015

    The capital goods businesses contributed a total €1,095 million to adjusted EBIT in the first 9 months, while the materials businesses delivered a significant positive contribution of €453 million including Steel Americas and despite the strike in Italy in the 1st quarter.

    Components Technology continued its good performance in the 3rd quarter, profiting from the ramp-up of new products and plants, increased demand for axle module assembly and in particular positive currency translation effects. Order intake and sales in the first 9 months were each 11 percent higher year-on-year at €5.1 billion (prior year €4.6 billion each). On a comparable basis the increases were 4 percent and 3 percent respectively. Adjusted EBIT at €241 million was 16 percent higher year-on-year (prior year €207 million). The good performance in industrial components, efficiency gains from the performance programs initiated and currency translation effects had a positive impact on earnings.

    Elevator Technology again achieved new record levels of order intake and orders in hand. Order intake and sales grew year-on-year at double-digit rates both in the first 9 months and in the 3rd quarter. Mainly driven by increased demand for new installations, especially in the USA and South Korea, and by positive exchange rate effects, order intake in the first 9 months increased by 14 percent to €5.8 billion (prior year €5.1 billion). On a comparable basis the increase was 4 percent. Sales were also up, rising by 13 percent to €5.2 billion (prior year €4.6 billion), and on a comparable basis by 3 percent. The positive operating performance was also reflected in an improvement in adjusted EBIT, which increased by 18 percent to €557 million (prior year €472 million). The 3rd quarter, in which adjusted EBIT and margin increased year-on-year for the eleventh time in a row, contributed €211 million.

    Industrial Solutions’ order intake of €3.2 billion in the first 9 months was as expected lower than in the same period a year earlier (€4.5 billion), which was boosted by major orders at Marine Systems and Resource Technologies. Against a background of volatile and declining oil and raw material prices, customers were reluctant to place orders. However the projects continue to be pursued and remain part of a full project pipeline. The continuing high level of orders in hand of €12.5 billion at June 30, 2015 secures long-term planning certainty and capacity utilization. Sales at €4.6 billion were 3 percent up year-on-year (prior year €4.5 billion); on a comparable basis the increase was 1 percent. Sales realizations from orders at Resource Technologies and System Engineering contributed to the rise. Adjusted EBIT at €297 million in the first 9 months was lower year-on-year (prior year €320 million).

    Order intake and sales in the first 9 months at Materials Services increased by 9 and 12 percent to €10.8 and €11.0 billion respectively (prior year €10.0 and €9.8 billion respectively). On a comparable basis – excluding in particular the units VDM and AST – new orders were slightly lower and sales slightly higher year-on-year. Adjusted EBIT at €140 million was down slightly from the prior-year figure of €148 million. Earnings were impacted by strong competitive and price pressure and in particular the strike at AST in Italy in the 1st quarter. However, numerous efficiency measures and sales initiatives in connection with impact and the progress made in implementing the new business plans at AST and VDM had a clear stabilizing effect. Altogether Materials Services' earnings in the 3rd quarter were significantly higher year-on-year and quarter-on-quarter. The Special Materials business unit with VDM and AST contributed €14 million to adjusted EBIT, of which €34 million in the 3rd quarter.

  3. forum rang 10 voda 14 augustus 2015 17:12
    part 2:

    Steel Europe reported a drop in business in the first 9 months, mainly due to lower prices. The sustained weakness of steel prices, mainly due to much lower raw material prices, continued to impact business, while volumes returned to normal after the turn of the year following the temporary bottlenecks in the 1st quarter. Order intake and sales in the first 9 months at €6.5 billion each were 5 and 2 percent respectively lower than a year earlier (prior year order intake €6.9 billion, sales €6.7 billion); on a comparable basis the decreases were 6 and 3 percent respectively. Measures implemented under the "Best-in-Class Reloaded" program continued to have a significant positive impact on earnings. This includes the substantially reduced losses at Electrical Steel following restructuring measures. Adjusted EBIT in the first 9 months at €358 million almost doubled compared with the prior-year period (€185 million). The 3rd quarter contributed €166 million, the highest adjusted EBIT for 15 quarters.

    At Steel Americas order intake at €1.4 billion and sales at €1.4 billion were 11 and 8 percent respectively lower than a year earlier (prior year order intake €1.6 billion, sales €1.5 billion). In addition to the disposal of ThyssenKrupp Steel USA in the prior year this reflects mainly bottlenecks in production. Pressure on prices was also high from the 2nd quarter. The steel market in Brazil was characterized overall by a further decline in consumption. On a comparable basis new orders were 3 percent and sales 7 percent lower year-on-year. Adjusted EBIT in the first 9 months was negative at €(45) million but improved in the first 6 months. It was only in the 3rd quarter, against a background of sharply increased price and margin pressure particularly in the North American and Brazilian markets and bottlenecks in production due to the water shortage in Brazil, that it fell below the prior-year figure, which included an insurance recovery.

    Source : Strategic Research Institute
  4. forum rang 10 voda 14 augustus 2015 17:13
    Salzgitter Group confirms turnaround in the first half of 2015

    The Salzgitter Group closed the first half of 2015 with its first positive half-year earnings before taxes since 2011, substantially up on the result from the previous year. All business units contributed to this pleasing development with improved results compared to the previous year. In total, € 33.1 million in expenses for structure-enhancing measures was incurred. The financial basis remains very solid with a 35% equity ratio, as well as a net credit balance of € 178 million.

    CEO Prof Dr Ing Heinz Jörg Fuhrmann commented on the results: “This development proves the far reaching effects of the groupwide restructuring program ‘Salzgitter AG 2015’, regardless of the still challenging economic environment in Europe. This is the result of our own efforts. Nevertheless, we still have a long way to go and a wide range of tasks to complete. Our aim is to consistently continue along this successful path.”

    At € 4,529.6 million, the external sales of the Salzgitter Group in the first half of 2015 were roughly on a par with the previous year level (first half of 2014: € 4,549.3 million). The company generated a gratifying pre-tax profit of € 80.2 million (first half of 2014: € –4.2 million). This profit contains a € 16.4 million positive contribution from the Aurubis investment (first half of 2014: € 39.2 million), as well as a total of € 33.1 million in expenses for streamlining measures. The after-tax result stood at € 41.3 million (first half of 2014: € –15.9 million), resulting in earnings per share of € 0.72 (first half of 2014: € –0.33). The return on capital employed (ROCE) was recorded at 5.4 % (first half of 2014: 1.1%).

    Development of the business units
    The Strip Steel Business Unit posted shipments on a par with the previous year during the first six months of the financial year 2015. Due to the highly intense competition in the European steel market, selling prices for most products have weakened over the course of the year, resulting in external sales falling just short of the previous year’s figure (€ 1,030.1 million; first half of 2014: € 1,095.6 million). The business unit generated a pre-tax profit of € 20.7 million based on the gratifying rise in contribution from Salzgitter Flachstahl GmbH and therefore significantly exceeded the first half of 2014 (€ –6.9 million). In addition to a decline in raw materials costs, this development was also driven by the first cost reduction effects of the pulverized coal injection plant at the blast furnaces in Salzgitter launched in April.

    Europe’s heavy section and plate markets presented a disparate picture during the period under review. While the section business proved comparably stable, the heavy plate business was impacted by modest demand and increasing import volumes. However, the shipments of the Plate / Section Steel Business Unit still exceed the previous year figure. As a result of selling price developments, external sales of € 500.2 million remained tangibly below the figure recorded in the first half of 2014 (€ 556.5 million). Thanks to the sustained success of the rapidly implemented restructuring and operating optimization measures, Peiner Träger GmbH achieved a pleasing pre-tax profit. The plate producers also significantly improved their result compared to the previous year. However, a negative pre-tax result was posted (€ –19.5 million; first half of 2014: € –42.6 million) due to the clear loss recorded at HSP Hoesch Spundwand und Profil GmbH, which contained a € 23.1 million precautionary measure in connection with the decision to shut down the sheet piling product segment.

    In the Energy Business Unit, production for the pipeline project in the Black Sea (former South Stream), which recommenced in June, as well as the high capacity utilization of the North American sites were only able to partially offset the still challenging market situation in the European pipe market. As a result, shipments declined slightly and external sales fell short of the comparable figure (€ 574.9 million; first half of 2014: € 651.0 million). However, the business unit was still able to return to the black with a profit of € 3.3 million (first half of 2014: € –19.8 million). In this context, the EUROPIPE Group substantially reduced its pre-tax loss thanks to the upbeat business of the US companies and despite the formation of € 10.0 million provisions for restructuring measures at EUROPIPE France S.A. The line pipe companies almost halved the negative result recorded in the comparable period of the previous year.

    Demand on the international steel trading markets remained restrained in the first half of 2015 in almost all regions and product segments. Nevertheless, shipments at the Trading Business Unit increased sharply in the first six months of 2015 compared to the previous year’s period. External sales rose to € 1,690.3 million accordingly (first half of 2014: € 1,560.0 million). Owing largely to the gratifying pre-tax result from international trading, the business unit more than doubled pre-tax profit to € 17.3 million (first half of 2014: € 7.0 million).

    In the first six months of 2015, the Technology Business Unit matched the good level of order intake from the previous year. External sales improved to € 636.3 million (first half of 2014: € 592.8 million). At € 14.6 million, a presentable pre-tax profit was generated, which rose compared to the previous year period (first half of 2014: € 11.5 million), with the KDE Group contributing to this development along with the KHS Group with its increased service business and aperiodic dividend income.

    The external sales of Industrial Participations / Consolidation grew (€ 97.7 million) compared to the previous year’s figure (first half of 2014: € 93.2 million). However, the pre-tax profit of €43.7million was slightly lower than the previous year’s figure (first half of 2014: € 46.6 million). This figure includes income of € 16.4 million from the Aurubis investment (first half of 2014: € 39.2 million). In addition, Group companies not directly allocated to a business unit made an overall positive contribution to profit that clearly exceeded the previous year’s figure. Positive valuation effects from foreign exchange transactions further bolstered the result.

    Source : Strategic Research Institute
  5. forum rang 10 voda 14 augustus 2015 17:14
    Pakistan starts AD duty probe on Chinese steel billets

    Pakistan’s National Tariff Commission has announced that it has initiated an antidumping duty investigation against continuously cast billet imports from China.

    The investigation launched upon the complaint filed by the domestic continuously cast steel billet producers will cover the period between April 2014 and March 2015.

    The products subject to antidumping duty investigation currently fall under Customers Tariff Statistics Position Numbers 7207.1110, 7207.1119, 7207.1210, 7207.1290, 7207.1910, 7207.1920, 7207.1990, 7207.2010, 7207.2020, 7207.2090, 7207.1000 and 7207.9000.

    Source : SteelHome

  6. forum rang 10 voda 14 augustus 2015 17:16
    Over 90% of NLMK blast furnace facilities will run PCI

    NLMK Group, Russia’s top steel-producing company and one of the most efficient steel companies in the world, has launched a project to build a second Pulverized Coal Injection (PCI) complex at its Lipetsk site. When the project is complete, this advanced resource-saving technology will cover more than 90% of the company’s blast furnace facilities.

    NLMK obtained the necessary construction permit in July this year, and is now preparing for construction and assemble works at the complex that will cover the largest and the most productive blast furnaces of the plant; namely blast furnace #6, which has a capacity of 3.1 million tonnes per annum; and blast furnace #7 with a capacity of 4.3 million tonnes per annum.

    Project capex will exceed 6.5 billion rubles; with start-up scheduled for the second half of 2017. PAUL WURTH S.A. of Luxembourg is in charge of supplying the technology, engineering works and main process equipment; whilst Lipetsk-based Gipromez is the general planner for the project.

    Sergey Filatov, Novolipetsk Managing Director, said: “Our ongoing project to implement PCI technology is an important element in our overall Strategy 2017 program to boost operational efficiency and cut specific costs. The new complex will enable a 20-30% reduction in the consumption of expensive coke; and more than 50% reduction in the consumption of natural gas. Over 90% of the plant’s blast furnace capacities will be equipped with the resource-saving PCI technology by the end of 2017.”

    NLMK Group began implementing advanced PCI technology back in 2013. The PCI system at Blast Furnace #5 (3 million tonnes of pig iron per year) went live in August 2013; while the PCI system at Blast Furnace #4 (2 million tonnes of pig iron per year) went live in May 2014.

    Resource-saving PCI technology involves co-injecting natural gas and fine coal particles into the blast furnace. Replacing expensive raw materials with a cheaper alternatives, such as switching coking coal for steam coal, reduces the cost of producing pig iron.

    Source : Strategic Research Institute
  7. forum rang 10 voda 14 augustus 2015 17:17
    Indian sponge iron makers seek steps to check iron ore prices

    Press Trust Of India reported that burdened under high raw material costs, the sponge iron makers have pitched for an urgent need to bring down the iron ore prices in the country. The majority of sponge iron makers belong to West Bengal, Chattishgarh, Odisha and Jharkhand and they have come together to seek the Centre's intervention in the matter.

    The industry players also alleged that the iron-ore makers - both state owned NMDC and private miners - are acting like a cartel. The sponge iron industry also wants urgent steps to bring down the iron ore prices by at least Rs 1000 a tonne.

    West Bengal Sponge Iron Manufacturers' Association President Gouri Shankar Jain said “There is urgent need to regulate the iron-ore production by the existing miners as they are producing less than their rated capacity to keep the price artificially high that has led to severe crisis,"

    Chattisgarh Sponge Iron Association Secretary Vijay Jhawar said “The state government of Chattishgarh has sent a memorandum to the Centre to help increase supply of iron-ore at economical price. ”

    Mr Jhawar however said they have not taken the legal route, neither they have filed any complaint with the fair trade regulator, Competition Commission.

    The industry has an annual capacity of 50 million tonnes but currently is churning out only 17-20 million tonnes

    Source : PTI

  8. forum rang 10 voda 14 augustus 2015 17:19
    Cold water thrown on reported interest in US Steel Canada

    Hamilton News reported that serious doubts are being raised about Essar Steel’s reported interest in buying US Steel Canada. McMaster University’s Marvin Ryder told CHML’s Bill Kelly Show, he believes the story is based on a rumour coming from the Steelworkers union.

    Mr Ryder says Essar’s reported offer of 400-million dollars for US Steel Canada would not come close to the real price tag. He says the Nanticoke operation alone is worth more a billion.

    Mr Ryder describes Essar as a relatively small steel company that has run into some financial issues which would prevent it from owning the Hamilton and Nanticoke operations.

    Former Hamilton Mayor Bob Bratina hinted late last month that Essar could be interested in acquiring US Steel Canada. And sources told the Spectator the India-based company reportedly wants to take over US Steel Canada and bring the Hamilton plant back into production.

    US Steel Canada is currently under creditor protection.

    Source : Hamilton News
    Bijlage:
  9. forum rang 10 voda 14 augustus 2015 17:22
    US steelmakers and politicians denounce China steel price cuts

    Reuters reported that moves by Chinese steel exporters Wednesday to cut prices provoked cries of foul from the US steel industry and gave politicians skeptical of the pending Trans Pacific Partnership trade agreement new ammunition.

    Mr Alan Price, a lawyer who represents Nucor Corp said "This devaluation is just the latest attempt to support Chinese industry at the expense of producers in the rest of the world who have to earn their cost of capital to survive.”

    United Steelworkers union president Mr Leo Gerard said: "Washington has been asleep at the switch in dealing with China. Action is needed against China's predatory practices" before more U.S. jobs were lost.”

    Ohio's Democratic Senator Sherrod Brown said "The US needs to ensure American businesses and workers have a backstop to fight back against currency manipulation.”

    Ohio Republican Senator Mr Rob Portman struck a similar note "We cannot afford to sit idly by as China refuses to play by the rules. Any negotiations on the Trans-Pacific Partnership must prioritize combating currency manipulation by our foreign competitors."

    Steel has been a source of tension in the US-China trade relationship for years. US steelmakers have filed a series of actions accusing rivals in China and other countries of dumping products below cost in the US market. The Obama administration has backed the industry on some of those petitions, slapping duties on imported steel products.

    Reuters had reported Wednesday that Chinese steel producers were cutting export prices, riding the fall of the yuan currency after the central bank devaluation on Tuesday.

    Source : Reuters
  10. forum rang 10 voda 14 augustus 2015 17:26
    Atlas Iron posts huge loss

    AAP reported that Atlas Iron has posted a $1.4 billion annual loss due to massive falls in the price of iron ore. The company's huge plunge into the red was caused by almost $1.01 billion in impairment charges and asset value writedowns, all related to the lower price of Australia's largest export commodity.

    Atlas shut down production at three of its operations during the year to June 30 as iron ore prices slid, and has also reworked its relationships with contractors.

    MD Mr David Flanagan said “Yes, the changing iron ore market has meant we have had to take large asset write downs and that hurts. While Atlas can't influence the iron ore price we have moved the needle on our cost base and are now seeing the results of the contractor collaboration model."

    Source : AAP
    Bijlage:
  11. forum rang 10 voda 16 augustus 2015 17:03
    Yuan devaluation to pressure steel and aluminium - Goldman Sachs

    Business Standard reported that Goldman Sachs said that China's yuan devaluation signals that global economic conditions have taken a turn for the worse, creating more downward pressure to come for commodity markets.

    Goldman Sachs said in a note to clients “The CNY devaluation has been important for commodity markets and we believe it signals that global macro conditions have changed. Even China has now joined the negative feedback loop that is running between commodity deflation, growth and deleveraging trends and we believe the net commodity market effects are bearish.”

    The bank said it believes the key areas of focus for commodity markets now include how dollar-yuan and the yuan-traded weighted index will evolve. It said "A weaker USD/CNY could see margins for Chinese commodity exporters improve and allow producers to begin to play catch up to other emerging markets producers, which have already been benefiting from foreign exchange depreciation.”

    Goldman said “On the other hand, with the trade-weighted yuan remaining flat, there is no strong argument that the export-led manufacturing sector would see similarly improving competitivenesss. Global manufacturing tends to be more spread out than commodity supply, and spans to more flexible exchange rate regime economies, giving purchasers more flexibility to compare prices and switch suppliers."

    It said that aluminum and steel prices face particular downward pressure. The bank said "This (weaker USD/CNY) could buoy supply for commodities which have large exports, a high proportion of CNY costs, and where producers are not already too far above marginal cost on global supply curves (predominantly aluminum, and to a lesser extent steel)."

    Source : Business Standard
  12. forum rang 10 voda 16 augustus 2015 17:03
    Local Steel Factories can meet Needs of Egypt's New Capital Project

    Amwalalghad reported that Chairman of Egypt’s Chamber of Metallurgical Industries Mr Gamal El-Garhy said that the capacities of local steel factories can meet the needs of the New Administrative Capital project and other national projects. Mr El-Garhy stated that the annual capacity of locally-produced rebar is estimated at 9.5-10 million tonnes, thus there is a surplus in rebar production as Egypt consumes 7.5 million tonnes of rebar annually.

    A member of CMIE Mr Rafiq al-Daw said “The capacity of Egyptian steel sector is expected to rise by 2 million tonnes in 2016 as new factories are set to start production. In 2016 there will be a surplus of local steel estimated at 4.5 million tonnes while the New Administrative Capital project needs around five million tonnes of steel to construct 6 million housing units over five years.”

    According to these numbers, steel factories have to provide one million tonne annually for five years for the project without affecting the regular market, by which there will be a surplus in the production estimated at 3.5 million tonnes annually and there will be no need to import rebar

    Source : Amwalalghad
  13. forum rang 10 voda 16 augustus 2015 17:04
    Evraz Highveld Steel to cut 1,100 jobs in South Africa

    BD Live reported that nearly 1,100 workers at Evraz Highveld Steel are set to lose their jobs after being served with section 189 notices as the company scrambles to save itself. Evraz Highveld Steel CE Mr Johan Burger on Thursday confirmed that up to 1,100 employees, or 50% of the firm’s staff, faced retrenchment.

    He said that Evraz’s steel works in eMalahleni, Witbank, were out of commission as a result of the crisis the company had been going through

    Mr Burger called on the state to institute preferential procurement for the struggling steel industry. He said "Local contracts and government expenditure should act as drivers for domestic demand. If you want a successful economy you need a manufacturing sector."

    Companies can issue section 189 notices, in terms of the Labour Relations Act, to institute dismissals for operational requirements.

    Evraz Highveld was placed under business rescue in April.

    Source : BD Live
  14. forum rang 10 voda 16 augustus 2015 17:05
    Vizag Steel Plant unions serve strike notice for September 2

    The Hindu reported that various unions of Visakhapatnam Steel Plant served a strike notice on the management on Thursday. The unions submitted the notice to go on strike from 6 AM on September 2 opposing disinvestment and demanding merger of RINL with NMDC, allotment of captive iron ore mines and payment of HRA at 20 per cent of basic to all the employees.

    The strike call also coincides with the general strike proposed by central trade unions over price rise, outsourcing and attempts to dilute labour laws.

    The signatories to the notice served under Section 22 of Industrial Disputes Act, 1947, include Visakha Steel Employees’ Congress (recognised union) general secretary Mantri Rajasekhar, AITUC leader D. Adinarayana and others from CITU, YSR Congress Trade Union and HMS.

    Source : The Hindu
  15. forum rang 10 voda 16 augustus 2015 17:06
    US steel shipments in June up 8.1% MoM

    The American Iron and Steel Institute reported that for the month of June 2015, U.S. steel mills shipped 7,758,087 net tons, a 8.1 percent increase from the 7,175,211 net tons shipped in the previous month, May 2015, and a 6.4 percent decrease from the 8,291,823 net tons shipped in June 2014.

    Source : Strategic Research Institute
  16. forum rang 10 voda 17 augustus 2015 16:20
    International Ferro Metals cuts back ferrochrome production

    Proactive Investor reported that International Ferro cuts back further as steel demand falls. Tough operating conditions in South Africa and slowing steel demand in China kept International Ferro in the red in its latest half year.

    Production of ferrochrome, used to harden and make stainless steel, rose by 4% to 51,000 tonnes in the final quarter to June. Sales edged up to 51,600 tonnes. Full year production was just over 198,000 tonnes.

    Mr Chris Jordaan, chief executive, said South Africa remained very challenging with power supply issues and higher labour costs while ferrochrome prices had fallen due to lower imports into China.

    The operating loss in the second half will be similar to the first half, IFL said. The pre-tax deficit in the first half was R176mln (£9mln).

    Borrowings over the second half fell to R450mln (£22.5mln) but are expected to range between R480-500mln in the near future.

    New financing options are being considered Jordaan said, while the performance and cash flows of the business will continue to be under pressure unless there is a sustained improvement in the ferrochrome price, but this is unlikely while there is an oversupply situation.

    Source : Proactive Investor
  17. forum rang 10 voda 17 augustus 2015 16:22
    MMK waits for iron ore rebound to sell its 5% stake in FMG

    Bloomberg reported that Magnitogorsk Iron & Steel plans to wait for a recovery in the iron ore market to sell its 5 percent stake in Fortescue Metals Group Ltd.

    Chief Financial Officer Mr Sergey Sulimov said in an interview “ Magnitogorsk is looking for higher prices, which may happen if there’s a merger between major iron ore suppliers that reduces some of the oversupply. Without industry consolidation, low prices and slowing demand for the raw material used in steel production may persist for a decade. We are ready to wait for the next chance. The current value of the stake is close to what we have paid for it.”

    Fortescue, the world’s fourth-largest iron ore miner, is trading near a six-year low after the shares plunged 35 percent this year. The company has been hit by a glut of iron ore around the world after the biggest producers expanded production in a bet on a higher demand from China, whose economy is now slowing down. Prices for iron ore are near the lowest since since at least 2009.

    Magnitogorsk, controlled by billionaire Victor Rashnikov, started to build the stake in Fortescue in 2006 and was considering a sale in 2014. The current market value of the holding is around USD 200 million, according to data compiled by Bloomberg. In the past, the company received offers of USD 1 billion.

    Source : Bloomberg
  18. forum rang 10 voda 17 augustus 2015 16:24
    Salzgitter gives positive outlook

    German steel maker Salzgitter while declaring results has given the following outlook “Guidance on the development of the macroeconomic situation is already fundamentally subject to a great deal of uncertainty, particularly in the current political and financial environment. The forward-looking statements below on the individual business units assume the absence of renewed recessionary developments in Europe. Instead, we anticipate a relatively moderate economic recovery in our main markets during the current financial year, with these markets remaining fiercely contested.”

    The Strip Steel Business Unit expects a clearly negative result for the third quarter. The reason for this is the blast furnace relining commencing in August at Salzgitter Flachstahl GmbH, which will lead to roughly € 80 million in one-off burdens in the second half of the year. Savings on the cost front, thanks to the commencement of regular operations at the new pulverized coal injection plant among other things, will naturally be unable to offset this completely. Overall, it is assumed that sales will be lower than in the financial year 2014. Without these negative effects, a return to the profit zone could have been expected. Including the direct and indirect impacts of relining the blast furnace, the business unit's pre-tax result will, however, fall notably short of the figure reported in 2014.

    The Plate / Section Steel Business Unit will continue to operate in a difficult market environment in the current financial year. The heavy plate mills anticipate a tangible improvement in earnings, despite the tough price competition, due to the recommencement of the pipeline project in the Black Sea (former South Stream), among other factors. Following the turnaround, the primary aim of Peiner Träger GmbH will be to continue to further stabilize its business, also under difficult market conditions. Taking account of the general market environment and in conjunction with the special situation at HSP Hoesch Spundwand GmbH (HSP), the development of the business unit’s sales and earnings are subject to considerable imponderables. The business unit will nonetheless be aiming at substantially improving the pre-tax result, which will include the one-off expenses for HSP. Sales, however, are likely to decline slightly.

    The Energy Business Unit is suffering from the weak European market for large-diameter pipes in 2015, despite the lifting of the suspension of the South Steam project. In contrast, the situation in North America presents a positive picture, as the order backlog here has secured capacity utilization far into the year 2016. The precision tubes companies expect stable demand from automotive manufacturers, while orders from the energy and industry product segments will remain fiercely contested. Due to the low oil price, the seamless stainless steel tubes business anticipates a weaker order level after a highly successful 2014. The Energy Business Unit is expecting sales to fall short of the previous year’s level in 2015. Irrespective of the shortfall in the capacity utilization of European large-diameter pipe production sites, the pre-tax result is expected to improve due to the rigorous implementation of the measures under the “Salzgitter AG 2015” program and the non-recurrence of one-off charges.

    The Trading Business Unit's stockholding steel trade anticipates rising earnings based on the expected stabilization of prices and demand conditions in Europe. In view of the profitable business to date, international trading is expecting a satisfactory result. All in all, we anticipate a lower level of sales for the Trading Business Unit, as well as a satisfactory, although notably lower year-on-year pre-tax profit due to positive one-off effects in 2014 that were not repeated this year.

    In the Technology Business Unit, KHS anticipates the continuation of the pleasing development of its service business. The outlook for the KDS and the KDE Group is also very promising. However, KDS will be unable to sustain the record levels of the previous year. In combination with slowed momentum in project business at KHS, the Technology Business Unit will find it challenging to maintain the sales and earnings level of the previous year.

    Based on planning by the individual business units, and taking account of further positive effects from the “Salzgitter AG 2015” program, we continue to assume the following for the Salzgitter Group in 2015:
    stable sales,
    a pre-tax profit in the lower to mid-double-digit million euro range
    a return on capital employed (ROCE) that is higher than the previous year's figure.

    Source : Strategic Research Institute
  19. forum rang 10 voda 17 augustus 2015 16:25
    Steel users protest move to enlarge scope of quality control order to curb imports

    Business Standard reported that protesting the government's move to control import under the garb of quality standard, downstream steel producers have urged the government not to implement Quality Control Order.

    Mr Nikunj Turakhia, administrative director of the Bombay Iron Merchants’ Association, said “Through this order, primary producers are trying to restrict imports with an aim of creating a shortage. The government is helping them in their efforts.”

    Mr Sandeep Parekh, vice-president of the Thane Small Scale Industries’ Association, asked, “How can nine per cent of steel imports affect domestic sales?”

    Mr Sanjiv Mehta, chief executive of Shah Brothers Ispat, said, “Indian exporters will lose their advantage due to high input costs.”

    Mr Vijay Vedmutha, chairman of the Steel Wire Manufacturers’ Association of India, said “The myth that imported steel does not conform to global quality standards is not true. In fact, wire manufacturing capacity is insufficient in India and, hence, downstream producers do not have an option but to import.”

    Many downstream producers believe the BIS does not have facilities to register hundreds of thousands of small steel enterprises.

    The ministry of steel had sought public comments on April 29, over banning the manufacture, sale, stocking and distribution of non-standard steel in India. The order seeks registration of steel producers with the Bureau of Indian Standards and certification of the quality they deal in. Substandard steel is to be disposed of as scrap.

    Source : Business Standard
  20. forum rang 10 voda 17 augustus 2015 16:27
    ArcelorMittal Temirtau move to cut wages by 25% invalidated

    BNews.kz citing chairman of trade union organization of "Zhaktau" metallurgists Mr Victor Schetinin reported that the order of the ArcelorMittal Temirtau GD Mr Vijay Mahadevan was invalidated.

    Mr Schetinin said “State labor inspectors gave order to the Director of Human Resources and Labor Relations Mr Dmitri Pavlov on August 12 seeking to cancel an order No 495 of August 4, 2015, in accordance with the requirement set forth in item 3 of article 11 of the Labor Code of the Republic of Kazakhstan the order is invalid and not applicable.”

    Now, management of the company is obliged to provide written information on the implementation of regulations up to 12 pm on August 13 to state labor inspectors.

    According to Department for monitoring labor legislation in Temirtau, the company violated several points of law, starting from the procedure of reviewing order of JSC ArcelorMittal Temirtau" employees and ending with violation of the collective agreement.

    Source : bnews.kz
    Bijlage:
35.173 Posts
Pagina: «« 1 ... 275 276 277 278 279 ... 1759 »» | Laatste |Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met je emailadres en wachtwoord.

Direct naar Forum

Premium

ArcelorMittal slaat opnieuw alarm: China dumpt vrolijk verder

Het laatste advies leest u als abonnee van IEX Premium

Inloggen Word Abonnee

ArcelorMittal Nieuws

  1. Beursblik: Saxo ziet optimisme over Amerikaanse aandelen luwen
  2. Citi verkiest Arcelor boven Prosus
  3. Video: goede kaarten voor eindejaarsrally in december
  4. Experts optimistischer over december met ASML en Adyen als toppers
  5. Angst voor handelsoorlog drukt AEX in het rood, messen geslepen voor PCE-inflatie en Fed-notulen
  6. Beursblik: Bank of America positiever over ArcelorMittal
  7. ArcelorMittal stelt duurzaamheidsplannen uit
  8. Mondiale staalproductie licht gestegen
  9. Citi verhoogt koersdoel ArcelorMittal
  10. Bank of America zet ArcelorMittal op de kooplijst