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

Aandeel ArcelorMittal LU1598757687

Laatste koers (eur) Verschil Volume
26,680   -0,520   (-1,91%) Dagrange 26,530 - 27,180 2.743.889   Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

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35.173 Posts
Pagina: «« 1 ... 311 312 313 314 315 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 29 oktober 2015 17:16
    S&P cuts CSN rating

    Bloomberg reported that Cia Siderurgica Nacional SA, Latin America’s most-indebted steelmaker, had its credit rating cut by Standard & Poor’s for the third time in a year as demand for the metal fizzles. S&P lowered its rating on Sao Paulo-based CSN one step to BB-, three levels below investment grade.

    The ratings company said that the steelmaker may find it difficult to sell assets at attractive prices given the current outlook for economic growth in Brazil.

    It said “The downgrade reflects the challenging domestic steel market that acts as a drag on CSN because demand continues to weaken. Although we expect some asset sales to lower the company’s debt and interest burden, Brazil’s weak economy increases uncertainties about when will these happen."

    It added “The depreciation of the Brazilian currency toward 4 reais per US dollar will probably boost the company’s total debt by about 5.8 billion reais ($1.5 billion) in local currency terms by the end of the year.”

    Source : Bloomberg
  2. forum rang 10 voda 29 oktober 2015 17:17
    Short sighted government threatens prosperity and security in UK

    Sheffield Telegraph reported that Labour MP Dan Jarvis said that UK government’s handling of the steel crisis was repeating the short sightedness that saw GBP 80 million loan to Sheffield Forgemasters cancelled in 2010 and it threatened regional prosperity and national security. The Barnsley Central MP claimed the loss of hundreds of jobs in the sector in recent weeks showed it had no clear industrial strategy.

    He spoke out at a Northern Powerhouse summit at Sheffield Town Hall organised by left-leaning think tank, the Institute for Public Policy Research North, and attended by senior Labour figures including Lord Prescott.

    Mr Jarvis insisted devolution and attempts to rebalance the economy must go hand-in-hand with a proper industrial strategy.

    He said “Our Government should have an official view about Britain’s future industrial capacity. But instead they are offering the same short-sighted excuses they used to withdraw support from Sheffield Forgemasters in 2010. That loan would have positioned Forgemasters as a premier producer of components for nuclear power stations. Today, it’s not only workers on Teeside who have been let down. “Deciding whether we preserve some of the best coke ovens, and the largest blast furnace in our country, has consequences for our national security as well as regional prosperity. Because it undermines our freedom and our influence if we become overly-reliant on other countries for essential resources that we will need in the future. These are decisions are of profound national importance – and we shouldn’t wander into them without considering the long-term strategic implications for our country. Yet it is not clear if letting these steelworks close has been factored into the Strategic Defence and Security Review, or if the matter has even been discussed by the National Security Council. It feels foolish when the economic conditions could easily change in a few years’ time.”

    Source : Sheffield Telegraph
  3. forum rang 10 voda 29 oktober 2015 17:19
    Danieli to supply bloom caster to JSW Salem plant

    JSW Steel Limited has awarded Daniela the order for a new 3-strand bloom caster to be installed in the existing steel plant in Salem. This plant already has a similar caster, which was also supplied by Daniela about 6 years back, so this repeat order demonstrates the customer’s confidence in Danieli’s continuous casting technology.

    The caster is equipped with stopper rod control, MEMS and air-mist cooling, and is also designed for the future installation of FEMS and Dynamic Mechanical Soft Reduction.

    The new caster will convert the additional steel that will be produced in the steel meltshop, following the overall increase of iron and steelmaking in the Salem Plant.

    The JSW Steel – Salem plant produces high-quality steel bars for engineering and automotive applications. For Danieli, this is the fourth long product caster supplied to the JSW group following the first bloom caster in Salem, and the two billet casters at the Vijayanagar and Dolvi works.

    Source : Strategic Research Institute
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  4. forum rang 10 voda 29 oktober 2015 17:20
    JSPL dispatches 260 metre rails to Dedicated Freight Corridor Railway Line

    In October beginning, Jindal Steel and Power Limited flagged off India’s Longest ever Rails measuring 260 metre to the Dedicated Freight Corridor Corporation of India Limited

    The 260 meter long rails will be used for construction of the eastern corridor of the landmark 350 Kilometre dedicated freight railway network in India.

    Mr. Naveen Jindal Chairman of JSPL said, “It is indeed a proud moment for JSPL to truly exemplify our endeavor which is in perfect synergy with the ‘Make In India’ initiative. We are confident that JSPL’s world-class facility at Raigarh would emerge as the hub to supply rails to forthcoming railway corridors in India and world over.

    Mr Jindal added, “JSPL is amongst the few global steelmakers who will have soon the capabilities to produce special head hardened rails for bullet trains”.

    The company recently shipped its first mega order to Dedicated Freight Corridor Corporation of India Limited (DFCCI). Two rakes laden with 1880 tonnes of Rails of 87 metre length have already been dispatched for construction of the eastern corridor of the DFCCI in August 2015 out of the total order size of 90,175 Tonnes of Rails. JSPL received this order for the construction of around 350 kilometers long double track from Khurja to Bhaupur for the eastern corridor of DFCCI.

    Source : Strategic Research Institute
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  5. forum rang 10 voda 29 oktober 2015 17:23
    JSPL to power construction of 33 floor high Festival Steel in Noida

    The Structural Steel Division of Jindal Steel & Power Limited has partnered with Noida based real estate developer Bhasin Group for construction of Festival City in Sector 143 of Noida, India’s tallest composite steel structure. The tower christened Mist is a part of the 25 acre commercial project and 33 floor retail cum office tower is being built with an investment of INR 150 crore

    Company started the construction of the tower on October 21, 2015 and aims to complete it by January 29, 2016 ie 99 days.

    The floors will be laid through international technology without scaffolding using steel made by JSPL. JSPL will provide infrastructure solutions for the project such as E 550 grade structural steel columns & beams, suspended concrete flooring system – SpeedFloor for slabs and TMT welded mesh for slab reinforcement. Around 3,000 tonnes of the highest grade of steel will be used for this project.

    Mr VK Mehta, director-sales and marketing at Jindal Steel & Power, said “Keeping in pace woith global construction technologies that ensure highest quality standards and significantly lower construction time, the scope of structural steel has been on a steady rise in India. With considerably stronger building structures that are ready to move in much shorter times, we are well poised to captalize on this fast growing segment in the domestic market.”

    Source: Strategic Research Institute
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  6. forum rang 10 voda 29 oktober 2015 17:24
    2016 outlook for European steel sector remains stable on continued demand growth - Moody's

    The outlook for the European steel sector will remain stable over the next 12 months as continued growth in the main steel using end markets and improving regional economic growth prospects will support steel demand in Europe, says Moody's Investors Service in a report, titled "Steel -- Europe and CIS: Stable Outlook Reflects Demand Growth but Constrained by Low Prices". However, high pressure on prices could lead to lower profitability prospects. The outlook for Russian steelmakers is more negative with the country in continued recession.

    Hubert Allemani, a Moody's Vice President -- Senior Analyst and author of the report said “Our outlook for the European steel sector over the next year remains within our stable range as we expect sustained demand from the auto, construction and consumer goods industries. Brighter economic growth prospects in Western Europe are also set to mitigate further anticipated price falls as a result of cheap Chinese imports and oversupply in Italy.”

    The Markit Eurozone Composite Output Purchasing Managers' Index (PMI) is between 50 and 55 (a level of above 50 indicates expansion) and the capacity utilisation rate for the region is within the stable range of 75% to 85%. These indicators are some of the factors Moody's uses to define a stable outlook and both are comfortably in the rating agency's stable range.

    There are no signs that PMI would start to decrease to a level close to or under 50, even if the fallout from Volkswagen Aktiengesellschaft's (A2 negative) diesel emissions affair weighs on the German automotive sector and Germany's GDP in coming quarters.

    The situation for steelmakers in Russia, which is in recession, is much weaker but sustainable. Manufacturing PMI has been around 48-49 (which indicates contraction) since December 2014 because of declining GDP and the weaker rouble's pressure on prices. However, Russian steelmakers are competitive in export markets and their average capacity utilisation has remained high above 80%. Falling steel prices have less of an impact for Russian steelmakers, because their cost bases are typically lower than those of their European peers.

    Source : Strategic Research Institute
  7. forum rang 10 voda 29 oktober 2015 17:25
    Baosteel POSTS first quarterly loss in almost three years

    Reuters reported that China's biggest listed steel company Baoshan Iron & Steel Co Ltd (Baosteel) posted its first quarterly loss in nearly three years for July-September quarter. Baosteel swung to a net loss of CNY 920.5 million (USD 145 million) from a net profit of CNY 1.86 billion a year ago (USD 293 million), YoY swing of almost USD 440 million. Its results reflected a dismal performance in China's steel sector, the largest producer in the world.

    It said "The steel sector was undergoing severe adjustments in the third quarter, with consumption remaining weak as the country's macro economy was sluggish.”

    The last time it logged a quarterly loss was in the fourth quarter of 2012

    In the first nine months net profit fell 55 percent to CNY 2.25 billion.

    Source : Reuters
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  8. forum rang 10 voda 29 oktober 2015 17:27
    Despite evaporation of Chinese steel demand, production remains high – CISA deputy

    People all over the globe have been watching the detoriation in Chinese steel sector closely and speculating about production cuts despite knowing the complex state owned structure of steel mills. But the observations of CISA Vice Chairman Mr Zhu Jimin on Wednesday highlight the magnitude of the crisis with Chinese domestic steel demand collapsing, prices sliding every week, banks tightening lending and losses mounting resulting in shutting down of some plants but overall capacity still hasn't fallen and Chinese steel sector is extremely stressed as reducing the supply is the only solution

    He told media “China’s steel demand evaporated at unprecedented speed as the nation’s economic growth slowed. The economic slowdown led to marked consumption declines in rolled steel. As demand quickly contracted, steel mills are lowering prices in competition to get contracts. Production cuts are slower than the contraction in demand, therefore oversupply is worsening. There are two ways of resolving the supply imbalance raising demand or cutting supply, and in the current economic conditions, there is no hope of raising demand. Chinese steel sector had entered “winter" and had a "very serious" problem with overcapacity. It is very hard to solve the problem of overcapacity by increasing demand the only solution is to reduce supply. To control production is the key to solve the problems in China's steel sector. Since 2010, government departments have issued 20 policy documents to eliminate inefficient capacity, and some has been shut, but overall capacity still hasn’t fallen.”

    He also said “Financing remains an acute problem as banks strictly restricted lending to the steel sector. Although China has cut interest rates many times recently, steel mills said their funding costs have actually gone up. Many mills found their loans difficult to extend or were asked to pay higher interest.”

    Mr Li Xinchuang, president of the China Metallurgical Industry Planning Association, told AFR that global mining giants had misread the market in the belief growth would continue into the next decade. He told “The market is shrinking gradually which is why their forecasts have some major problems. One thing is for sure China's production and consumption will decline in the future. China's steel consumption will fall below 600 million tonnes by 2030, down from 738 million tonnes last year.

    But with steel prices at their lowest in decades state-owned mills are closing plants. According to CISA, medium and large sized mills have incurred losses of CNY 28.1 billion (USD 4.4 billion) in the first nine months of this year. Custeel, a CISA affiliated consultancy, said that 24 blast furnaces had suspended operations in October as mills scheduled overhauls, adding that the number was expected to rise as losses mount. Bayi Steel has already shut a production base that has an annual capacity of 3 million tons. Hangzhou Iron and Steel will close its main Banshan production base by the end of 2015, while Maanshan Iron and Steel will shut some production lines in the fourth quarter

    Steel demand in China shrank 8.7% in September. Crude steel output in the country fell 2.1% to 608.9 million tonnes in the first nine months of this year, while outbound shipments jumped 27% to 83.1 million tonnes.

    In the first nine months, China's major steel enterprises posted combined sales of 2.24 trillion yuan, down 19.26 percent from a year ago. As per media report, Baosteel Group Corp forecast last week that China’s steel production may eventually shrink 20%

    Source : Strategic Research Institute
  9. forum rang 10 voda 30 oktober 2015 16:34
    Opposition leader Mr Jeremy Corbyn visits Scunthorpe site of TATA Steel

    Scunthorpe Telegraph reported that Labour leader Mr Jeremy visited TATA Steel plant on Thursday and toured the site, including the plate mills which are set to be mothballed, and met with steelworkers. Mr Corbyn told workers the government needs an industrial strategy and he was prepared to go to Beijing to press the issue of Chinese dumping.

    Manufacturing director of Tata Steel's stand-alone Long products Europe business Mr Dave Nicol said "We were pleased to welcome opposition leader Jeremy Corbyn and shadow first secretary of state and shadow secretary for business, innovation and skills Angela Eagle to the Scunthorpe site. We made clear last week the challenges we face - extremely challenging market conditions compounded by unhelpful exchange rates and regulatory costs. This industry has a crucial role to play in rebalancing the UK economy, but we need a fairer system to encourage growth.”

    He added "Mr Corbyn made clear he will continue to press for the steel industry to be given a level playing field on issues such as business rates, infrastructure procurement and energy costs."

    Source : Scunthorpe Telegraph

  10. forum rang 10 voda 30 oktober 2015 16:35
    Policy initiatives can increase steel consumption in India – Mr Shushim Banerjee

    Mr Sushim Banerjee DG of India’s Institute of Steel Growth and Development in his personal capacity wrote for Financial Express that “The latest casualty in the falling prices category happens to be scrap. Due to steep decline in demand from Turkey, Korea and China, the Heavy Melting Scrap (HMS) prices of 80/20 category has fallen to $200/t CFR Mundra justifying in a way the drop in prices of billet and other long products. Interestingly, India has imported 7% more of melting scrap in the first 6 months in anticipation of a demand and price rise in the coming months.”

    He said In the aftermath of imposition of safeguard duty, the Chinese offer for SS400 grade Hot Rolled Coil (HRC) is down from $300-310/t fob to $265-270/t fob, translating at $290/t CFR Mumbai and $418/t with customs (@12.5%), SD (@20%), VAT and port expenses. The Korean coil correspondingly is offered at around $330 CFR Mumbai and with discounted CD of 1%, applicable SD,VAT and port expenses; it is priced at $436/t at port. Imported coil from Russia is available within this range.The safeguard duty thus shaved off some of the differences of imported landed costs with the domestic prices which are ranging at an average $410/t ex-works and around $430 inclusive of VAT as HRC is mostly modvatable.”

    He opined “Thus if there is a further fall in prices in China, Russia and Korea and there is every indication from the trend that it would be declining at least for the next few months, the threat of imports would stay. In another two months’ time the ports in EU and USA would reduce activities due to winter which would prompt China, Russia and Korea to maximise their exports to India and other South East Asian countries. As the import threat is no longer imaginary, appropriate advance steps by the industry and the government are needed.”

    He warned “As regards excess capacity in China compelling it to emphasise exports against the background of dwindling domestic steel demand, recent analysis by WSD (World Steel Dynamics) shows that gross capacity in China would come down from the current 1065 MT to 850MT in 2018, by 20%. This is indeed significant. What is striking is to know that maximum capacity cut is to come from the small EAF/BF/BOF units who are not members of e China Iron and Steel Association (CISA), while coastal members and EAF members of CISA would in fact be adding capacities by another 35MT in the next 3 years. Non-CISA members are predominantly those with small capacity in individual plants that are polluting the environment and therefore would not receive any government support that would make it difficult for them to pay back the loans from the banks. The continuous fall in market realization has made matters worse. It also indicates the influence of CISA in shaping the steel policy of the country. Another view that can be taken is that it may be the views of CISA only which may not reflect the government position on capacity regulation in steel.”

    He added “China has been following environment pollution norms judiciously keeping in view the large-scale discontentment that may erupt due to sudden closure of all the polluting steel plant facilities. The provincial governments are monitoring the progress towards pollution -free environment by the local units in phasing out the plant facilities within a time frame. Interestingly, China is promoting the use of Green Building Materials in terms of energy conversation, emission reduction, safety, convenience and recyclability.”

    He concluded “India can take a lesson from China, which has announced policies for full use of steel structures in long-span industrial buildings and wide use of steel in infrastructure sector. All government-funded public buildings have been advised to adopt steel structures. In addition, all rural houses in the country are to use light-weight steel structures. With so much investment earmarked for building of infrastructure and creating rural infrastructure including houses in India, the demand potential for steel is enormous in the country provided similar policy initiatives for promoting steel use can be undertaken here as in China.”

    Source : Financial Express
  11. forum rang 10 voda 30 oktober 2015 16:41
    Metalloinvest increases HBI production capacity

    Lebedinsky GOK (part of Metalloinvest) has increased its HBI production capacity by 22,000 tonnes per year as a result of modernisation at HBI-1 Plant.

    The increase is provided by new equipment that has been installed at the plant during major maintenance works, which have taken place at all of the key units and machines: shaft furnace (this is where the main technological process occurs in HBI production), the reformer, and rollers.

    The modernisation will not only enable the Company to increase HBI capacities, but also the share of high value-added products that it produces. The new rolling equipment will provide the growth of the percentage of premium quality HBI.

    The scheduled major maintenance works at HBI-1 took 1.5 months and involved specialists from 20 Russian and international companies. The leading contractors of the project were subsidiaries of Lebedinsky GOK: LebGOK-EERZ and LebGOK-RMZ.

    At present, HBI-1’s production volumes are in line with its plans. Its annual capacity is approximately 1 million tonnes, and Lebedinsky GOK’s total HBI production capacity amounts to 2.4 million tonnes. HBI-3 Plant, which is under construction, will add a further 1.8 million tonnes per year to that figure.

    Increase of HBI production is a key objective of Metalloinvest’s long-term development strategy. Being high value-added product, HBI enjoys stable market demand. Direct reduction process, which is used to produce HBI, is the most environmentally friendly iron production method. It lacks the emissions that are traditionally associated with the production of coke, sintering ore and pig iron, as well as the solid waste in the form of slag. The energy efficiency of HBI production is significantly higher than that of pig iron, and greenhouse gas emissions are substantially lower than those of the traditional blast furnace method.

    Source : Strategic Research Institute
  12. forum rang 10 voda 30 oktober 2015 16:42
    UK steel industry petition govt for urgent action

    The Hindu Business Line reported that the British government has been warned that it needs to take urgent action within weeks on issues flagged by the industry to prevent an escalation of the crisis and further job losses.

    Industry representatives, including Tata Steel’s head of human resources for Europe Tor Farquhar, Community union head Roy Rickhuss, head of industry body UK Steel Gareth Stace, and minister responsible for the sector Anna Soubry were among those who appeared before a parliamentary select committee late on Tuesday afternoon, during which companies, unions and MPs presented a grim picture of the industry, which has shed thousands of jobs this year alone.

    The most important is the issue of dumping of steel by non-EU countries, notably China, which industry says the British government needs to pursue more rigorously via the European Union. However, Britain has also been slow to push for European approval for a compensation package for energy intensive users (including the steel industry) for the significantly higher costs they bear compared to European competitors, as a result of UK clean energy policies, Stace said.

    According to UK Steel estimates, energy costs for UK steel producers are roughly double those in France and Germany. Other issues include high taxes for non-residential properties (“business rates”) and the inclusion of capital investment in that taxation, and the need to increase UK public sector procurement of British made steel.

    Source : The Hindu Business Line
  13. forum rang 10 voda 30 oktober 2015 16:44
    Tata Steel opens new research and development facility at Warwick in UK

    Tata Steel opened the doors on its new UK research centre at the University of Warwick’s Science Park. Engineers and researchers will be working on new steel coatings, including graphene, at the company’s new advanced coatings research laboratories.

    The opening marks the first phase of Tata Steel’s relocation of its UK R&D work to the University of Warwick campus. Tata Steel researchers will develop a range of new materials to meet customers’ future demands, such as for renewable energy generation or more fuel-efficient cars and planes.

    Lord Kumar Bhattacharyya, chairman of the Warwick Manufacturing Group, and Hans Fischer, chief technical officer of Tata Steel’s European operation, opened the new centre. Lord Bhattacharyya said: “We are delighted to welcome Tata Steel here to the University of Warwick. Advanced steels research is crucial for the nation, and for manufacturing. This move shows Tata Steel’s long term commitment to research and development within the UK.”

    Hans Fischer said: “This new facility demonstrates our determination to develop innovative products which help our customers become more competitive. We will be working with world-class scientists and researchers to create new steels for customers who are shaping the low-carbon technologies of tomorrow. I’m delighted to be strengthening our ties with UK academia that are already well rooted here at Warwick, as well as at Cambridge, Sheffield and Swansea universities and Imperial College, London.”

    Debashish Bhattacharjee, Tata Steel’s group director R&D, said: "Opening this new R&D centre at the University of Warwick is a major step towards consolidating and strengthening our R&D in the UK through collaboration in a single location with a knowledge centre and with some of our customers. This will help us accelerate our open innovation activities and our processes to manage how we create new ideas and translate them into value addition to our customers."

    The new centre will ultimately have a combination of metallurgists, product engineers, data scientists, researchers and technicians.

    In the next phase further laboratory facilities will be built at the university, ultimately leading to the establishment of a hub for advanced steel research which will also accommodate Tata Steel’s three professorial chairs in steel research at Warwick, together with their academic research teams and a comprehensive array of research equipment.

    Surface engineering department manager John Collingham, who is one of the first to move into the new building, said: “The university campus is a dynamic and inspiring place to work, with many new buildings under construction, including the National Automotive Innovation Centre and the Advanced Steel Research Centre. Our new facility and our team of highly motivated and enthusiastic researchers will be the catalyst for a new generation of innovation.”

    Source : Strategic Research Institute
  14. forum rang 10 voda 30 oktober 2015 16:44
    TATA Steel to hike Kalinganagar capacity to 16 million tonnes by 2025

    Business Standard reported that Tata Steel said that it intends to ramp up capacity of its Kalinganagar steel making facility to 16 million tonne per annum by 2025 from 6 mtpa proposed originally.

    Mr Rajiv Kumar, vice president (operations) of Tata Steel's Kalinganagar project said “Our ultimate plan is to expand capacity of our Kalinganagar plant to 16 mtpa by 2025. The total cost of putting up a 16 mtpa facility would be around Rs one lakh crore compared to Rs 45,000 crore estimated for the six mtpa plant.”

    In the first phase, Tata Steel is commissioning three mtpa capacity. This unit is scheduled to be inaugurated on November 18 this year.

    Different units of the Kalinganagar plant would commence commercial production sequentially. Tata Steel has already started production from its coke ovens last month. The greenfield steel plant would have coke production capacity of 1.5 mtpa.

    The steel firm has been alloted 3,470 acres of land for the Kalinganagar project. The plant would roll out high end flat steel products

    Source : Business Standard
  15. forum rang 10 voda 30 oktober 2015 16:47
    NLMK sees global steel demand flat in 2016

    Bloomberg reported that Russia’s largest steelmaker by output Novolipetsk Steel OJSC expects little or no growth in global demand for the material next year and some producers will probably cut supply amid the rout in prices.

    NLMK CFO Mr Grigory Fedorishin said in an interview on Tuesday in Moscow “This situation can’t last in the longer term. With demand declining this year, much of the industry is contending with unprofitable production while next year’s growth in demand may be slow to zero.”

    He said “There’s an excess of at least 700 million tonnes of steel on the global market. In Russia, steel demand may fall up to 5 percent next year.”

    Like most Russian producers, NLMK is still making profits as a weaker ruble cut costs and domestic prices remained higher than those for exports. The company has one of the lowest levels of debt in the industry.

    Source : Bloomberg
  16. forum rang 10 voda 30 oktober 2015 16:47
    Usiminas shuts hot end at Cubatao plant in Sao Paulo

    BNAmericas reported that Brazilian steelmaker Usiminas will immediately begin a temporary shutdown of the primary areas of its Cubatão plant in São Paulo state, including sintering, coke ovens, blast furnaces, steel works and activities associated with these areas. Usiminas estimates that the deactivation process will be completed within three to four months.

    As per report “Once this is done, Cubatão will focus on rolled steel production and activities at the local port terminal. The steelmaker is evaluating alternatives as how to feed these lines with steel plates to be laminated.”

    CEO Mr Romel Erwin de Souza said “This way we will bring Usiminas to a new scale and productivity levels. We are strengthening our competitiveness with responsibility, courage and action.”

    According to the CEO, the company has observed significant deterioration of steel markets, with excess production capacity worldwide as a disturbing background. He told “On the domestic front, we're currently facing an unprecedented economic crisis. For the 18th consecutive month the local industry has contracted.”

    On September 25, Usiminas closed its heavy plate rolling mill at Cubatão. The move was a cost-cutting measure intended to adjust production to weak domestic demand as the country's economy falters, Usiminas said at the time.

    Usiminas recorded a net loss of BRL 1.04 billion in the third quarter, compared to net loss of BRL 24 million in 3Q14. The figure is Usiminas' worst loss in over 15 years. Net revenues decreased to BRL 2.42 billion from BRL 2.91 billion, the company said in its latest earnings release. Crude steel production declined 16% to 1.11 million tonnes in the period, from 1.41 million tonnes in 3Q14.

    Source : BNAmericas
  17. forum rang 10 voda 30 oktober 2015 16:48
    Nippon Steel & Sumitomo Metals and JFE Steel cut outlook on slumping prices

    Japanese steel giants Nippon Steel & Sumitomo Metal and JFE Holdings have slashed their full year profit forecasts on Thursday blaming slumping prices in Asia and slow recovery in demand at home.

    Nippon Steel & Sumitomo Metal Corp reported that its first-half profit attributable to owners of the parent increased 7 percent to JPY 120.12 billion from last year's JPY. Operating profit, meanwhile, dropped 27.4 percent to JPY 98.38 billion and net sales for the period declined 9.8 percent to JPY 2.51 trillion from JPY 2.78 trillion a year ago. Looking ahead for the fiscal year 2015, ending March 31, 2016, the company now expects attributable net income of JPY 180 billion and net sales of JPY 5 trillion. It plans to produce 21.7 million tonnes of crude steel on a parent basis in the October-March period, down from 22.08 million tonnes a year earlier.

    JFE’s recurring profits for the April-September half tumbled 47 percent to JPY 48.39 billion. It also reduced its full-year profit estimate by half to JPY 100 billion. JFE plans to produce 27.7 million tonnes of crude steel in the year to March, against 28.44 million tonnes a year earlier.

    Nippon Steel & Sumitomo Metal EVP Mr Katsuhiko Ota told a news conference “The current steel prices in Asia of products such as hot coils are abnormal. Many Chinese mills are booking monthly losses. We don't think this would continue for a long time, but we don't expect a quick improvement either.

    JFE EVP Mr Shinichi Okada said “Behind the weak performance was also slow demand of energy-related products such as seamless pipes amid weak oil prices. It expects the Asian steel market to stay sluggish in the October-March half.”

    Source : Reuters
    Bijlage:
  18. forum rang 4 ToTheTop 31 oktober 2015 20:23

    Miner Vedanta's iron ore chief on Friday called for a cut in central and state levies on exports of low-grade ore mined in Goa, as the company struggles to remain competitive amid a global commodities slump.

    The country's biggest private miner resumed mining in Goa, India's top-producing state, in August after a ban on illegal extraction shuttered operations for three years.

    Vedanta, a unit of metals tycoon Anil Agarwal's Vedanta Resources (VED.L), hopes to export more than 5.5 million tonnes of iron ore from Goa in the financial year to March 2016. It recently shipped 88,000 tonnes, bought at state auctions, to its biggest customer China.

    The company will export another 80,000 tonne cargo of the steel-making ingredient to China within days but is struggling to sell elsewhere as iron ore prices have slumped and supplies of higher-quality ore are abundant.

    "We have to be also mindful that a substantial push in cost is taxes," said Kishore Kumar, head of Vedanta's iron ore business. "Export duty on low-grade Goan ore must be reduced to zero, while the high grade should be at par with state-run firms."

    India this month cut the export duty on NMDC's ore exports (NMDC.NS) to Japan and South Korea made via MMTC (MMTC.NS) to 10 percent from 30 percent. Both NMDC and MMTC are state-run firms.

    "We are restraining capital, we are restraining our spends. So everything has been put on hold," Kumar added.

    The Goa Mineral Ore Exporters Association (GMOEA) estimates ore extraction costs at around $32 per tonne, of which $14 per tonne is made up of levies including a federal export duty of 10 percent.

    The Supreme Court banned mining in Goa three years ago, freezing shipments that reached about 50 million tonnes in 2010/11. In lifting the ban it restricted annual output to 20 million tonnes.

    ( in.reuters.com/article/2015/10/30/ind... )
  19. forum rang 4 ToTheTop 31 oktober 2015 20:26
    Global miners will continue to refrain from buying large diggers and dump trucks until at least 2017 as falling commodity prices cool investment, according to the chief executive of Komatsu Ltd., the world’s second-biggest supplier of mining equipment.

    “We won’t likely see a recovery in 2016 and we are uncertain about 2017, given current commodity prices and the sentiment of management at mining companies,” Tetsuji Ohashi told reporters in Tokyo on Thursday, after Komatsu posted a 19 percent decline in second-quarter net income.

    When a rebound does come, demand for machinery used in copper mining is likely to pick up faster than other commodities, Ohashi said. A recovery in thermal coal mining would probably be next, while iron ore would be last. Tokyo-based Komatsu trails only Caterpillar Inc. of the U.S. as a supplier of mining and construction equipment.

    The rout in commodity prices is piling on the pressure for Komatsu and its peers as the mining equipment market contracts for a fourth consecutive year. At current prices, miners aren’t ready to spend on new equipment, although customers are repairing their existing fleets albeit gradually, he said.

    World copper supply is set to move to a deficit in 2017, Andrew Michelmore, chief executive officer of Hong Kong-listed miner MMG Ltd., said earlier this month. Producers of the metal have cut output after prices fell to a six-year low due to China’s slowdown. However, the recovery in iron ore is much less certain as major low-cost producers in Australia and Brazil ramp up output and new supply comes online.

    Komatsu reiterated this week it expects sales of mining equipment to fall 15 percent in the year to March.

    ( www.bloomberg.com/news/articles/2015-... )
  20. forum rang 10 voda 1 november 2015 16:09
    Schnitzer Board Declares Quarterly Dividend

    The Board of Directors of Schnitzer Steel Industries Inc declared a cash dividend of $0.1875 per common share, payable on November 23, 2015, to shareholders of record on November 9, 2015. Schnitzer has paid a dividend every quarter since going public in November 1993.

    Source : Strategic Research Institute
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