Nieuws en info hier plaatsen (deel 4)

1. voda 14 oktober 2015 16:48

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   Group Imetal in talks with overses firms for steel sector development in Algeria
   
   Algerie Presse Service reported that state-run Group Metal and Steel Industries (Imetal) is in negotiation with foreign partners on partnerships in the mining activities, and others sectors like pipe mill and steel. CEO of the Group Mr Kamel Djoudi while speaking to the National Radio, said that the group is negotiating with Chinese partners to develop the Gara Djebilet deposit (Tindouf) which includes huge stocks in iron ore.
   
   He said "The Chinese have big interest in this deposit. We are now negotiating with several partners to create a consortium. Mining sector is very advanced and the Algerians are not able to develop it on their own. Group is also betting on the mining sector development, for its importance to the steel sector, considered as a priority to the revival of the national industry.”
   
   Recently, Minister of Industry and Mines Abdeslam Bouchouareb had said that the Gara Djebilet deposit represented a "priority" for the government, as a structuring project in terms of job creation, security of internal supplies and export possibilities.
   
   Concerning the steel industry, Mr Djoudi said the group was in discussions with an Indian partner to create a steel company dedicated especially to rail transport. He said "During a recent meeting at the Ministry of Transport, we assessed needs of the rail domestic market to 1.5 million tonnes of steel. Our goal is to create a steel plant specifically to meet those needs.”
   
   Algeria annually imports 6 to 7 million tonnes of steel, worth $7 billion.
   
   Source : Algerie Presse Service
   
2. voda 14 oktober 2015 16:51

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   Steel demand in Europe has been absorbed by 16 per cent rise in imports
   
   Speaking at the “Regional CEO Panel”during the World Steel Association’s 49th meeting in Chicago, Dr Karl-Ulrich Köhler, CEO and Managing Director of Tata Steel Europe said that the star in the EU region is the automotive industry. Mr.Köhler said passenger car sales grew by more than 8% this year. On the other hand, Mr.Köhler said that the construction industry demand is still waiting for the investors to build up confidence.
   
   Dr Köhler said there was not a gloomy picture in the EU market but steel demand has been absorbed by 16% rise in imports mainly coming from China and Russia. Köhler added that political instabilities have recently found some ground in Europe. Refugee crisis has been attracting a lot of attention he said, adding that stability issue has not been cleared completely yet.
   
   Dr Köhler also said that effective capacity utilisation in EU was 86% with imports being the largest threat for the industry. He complained that EU was extremely slow in trade protections and cases aganst imports whch constitute the main political worry.
   
   Source : SteelOrbis
   
3. voda 14 oktober 2015 16:52

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   Chinese companies visit PSM to explore privatization bid
   
   Published on Wed, 14 Oct 2015 91 times viewed
   
   The Express Tribune reported that half a dozen Chinese companies on Monday visited Pakistan Steel Mills as the process to privatise the government’s largest industrial unit gains momentum. According to steel industry officials, these companies have expressed an interest in exploring the option of buying stakes in PSM and are currently on a visit after Pakistan held a road show in China to promote the transaction.
   
   Additionally, the government has also communicated to the International Monetary Fund that it will try to complete the privatisation of PSM by March 2016.
   
   The government is facing stiff resistance from opposition parties, especially Pakistan Peoples Party in privatising PSM because of which the process has become a challenge for the state.
   
   Perturbed with huge losses that the mill is making, the federal government has recently offered the Sindh government to take over PSM if it is interested in running the mill. In return, the finance minister of Sindh said that the provincial government is ready to handle the mill but none of the governments have communicated this agreement in a written form.
   
   The PML-N government had approved a Rs18.5-billion-bailout package in April last year, which it further increased by Rs2.5 billion to pay employees’ salaries.
   
   The management of PSM had claimed that the Rs18.5 billion cash injection would help achieve 77% capacity utilisation by January 2015 – a target that was never achieved.
   
   Source : The Express Tribune
   
4. voda 14 oktober 2015 16:53

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   Moody's places US Steel's ratings (Ba3 CFR) under review for downgrade
   
   Moody's Investors Service has placed United States Steel Corporation's Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default rating, B1 senior unsecured notes and B1 industrial revenue bond ratings suppported by US Steel and (P)B1 senior unsecured shelf rating under review for downgrade. The SGL-2 speculative grade liquidity rating was affirmed.
   
   Source : Strategic Research Institute
5. voda 14 oktober 2015 16:55

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   Chinese imports dip for 11th consequetive month
   
   As per the latest data fro China customes, China’s imports extended the longest losing streak in six years. Imports plunged 17.7 percent in yuan terms in September, widening from a 14.3 percent decrease in August and an 11th straight decline. The import slide reflects the pressure China’s economic slowdown is having on global growth and this year’s plunge in commodity prices.
   
   Source : Strategic Research Institute
6. mvliex 1 14 oktober 2015 16:56

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   China verliest in roestvrijstaalzaak bij WTO
   
   Gepubliceerd op 14 okt 2015 om 16:42
   GENÈVE (AFN/RTR) - China mag geen importheffingen opleggen aan bepaalde roestvrijstaalproducten uit Europa en Japan. Dat heeft de Wereldhandelsorganisatie (WTO) woensdag bepaald.
   
   China verloor daarmee in een hoger beroep tegen een eerdere uitspraak van de WTO. Daarbij werden de heffingen van China ook al veroordeeld.
   
7. voda 14 oktober 2015 16:56

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   Hebei Steel acquires stake in Haier Group subsidiary
   
   SteelOrbis reported that Hebei Province-based Chinese steelmaker Hebei Iron and Steel Co has announced that it recently inked a shareholding agreement with Shandong Province-based Chinese electronics and home appliances company Haier Group regarding the latter’s special steel project.
   
   Accordingly, Hebei Steel will hold a 70 percent stake in Haier Special Steel Sheet Developing Co Ltd, a subsidiary of Haier Group, while it will enjoy priority in terms of supply to Haier Group.
   
   Haier Special Steel Sheet Developing Co. Ltd is specialized in the research and development (R&D) and production of steel sheet and has two branch companies, namely, Shandong-based Qingdao Haier Special Steel Sheet Developing Co. Ltd (Qingdao Haier Special Steel) and Anhui Province-based Hefei Haier Special Steel Sheet Developing Co. Ltd (Hefei Haier Special Steel). In addition, it holds the largest share in China’s domestic market for steel sheet used in the production of household appliances.
   
   Source : SteelOrbis
   
8. voda 14 oktober 2015 16:57

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   China verliest in roestvrijstaalzaak bij WTO
   
   Gepubliceerd op 14 okt 2015 om 16:42 | Views: 364
   
   Aperam 16:37
   
   29,01 0,00 (-0,48%)
   
   
   GENÈVE (AFN/RTR) - China mag geen importheffingen opleggen aan bepaalde roestvrijstaalproducten uit Europa en Japan. Dat heeft de Wereldhandelsorganisatie (WTO) woensdag bepaald.
   
   China verloor daarmee in een hoger beroep tegen een eerdere uitspraak van de WTO. Daarbij werden de heffingen van China ook al veroordeeld.
   
9. voda 14 oktober 2015 16:58

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   Indian steel demand may grow 7.3% YoY in 2015 - worldsteel
   
   Steel demand growth in India is seen to be the highest at 7.3% in the current year, while there will be slackening of demand in all other major steel-producing nations such as China, the US, Japan, Korea and Russia. The world demand for the alloy would decelerate 1.7% compared to 2014, according to World Steel Association (WSA).
   
   India’s steel demand grew by 3.1% in 2014 to 75.9 MT. In the current year, the demand is expected to grow to 81.5 MT. The demand is likely to accelerate further next year with 7.6% growth, the premier industry organisation said in its short-range outlook for the sector.
   
   Mr Jurgen Kerkhoff, Chairman, Worldsteel Economics Committee said “We expect the current headwinds to moderate in 2016, but this is based on a belief that the Chinese economy will stabilise. Of particular concern is the vulnerability of the emerging economies to external shocks though we are also expecting some, like India, to show resilience to the global slowdown. On a positive note, the recovery of steel demand in the developed economies, even though the momentum has weakened a little, remains on track.”
   
   WSA said after growing by just 0.7% in 2014 to 1540 MT, the average global steel demand is likely to fall by (-) 1.7% in the current year to 1,513 MT. But, it will grow by 0.7% in the next year to 1,523 MT.
   
   Source : Strategic Research Institute
10. voda 14 oktober 2015 16:59

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    Indonesian stainless steel industry expected to grow big in 5 years
    
    The Jakarta Post reported that according to the Indonesian Iron and Steel Industry Association, the country’s stainless steel industry could grow aggressively over the next few years as demand from infrastructure projects is forecast to surge.
    
    Mr Rajesh Khosla, a member of IISIA, said on the weekend that the national stainless steel industry would likely grow rapidly in the next five to seven years, driven by the growing use of steel in infrastructure projects. He told Jakarta Post It is estimated that infrastructure projects will consume more stainless steel in the future.”
    
    Another member of the IISIA, Deepak Agarwal, said that unlike its neighbors, such as Thailand, Indonesia currently used raw steel for many infrastructure projects that would actually be better served with stainless steel. He said “At present, Indonesia lags behind other countries in the use of stainless steel on its domestic market.”
    
    Indonesia’s annual per-capita consumption of stainless steel amounts to merely 0.6 kilogram, a far cry from the world's average per-capita consumption of 5.5 kg, according to IISIA estimates. The country has an annual stainless steel production capacity of 150,000 tons, but currently produces only around 100,000 tons, according to IISIA data.
    
    Source : The Jakarta Post
    
11. voda 14 oktober 2015 17:01

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    Chinese steel exports hit the roof in September
    
    According to latest data from China Customs, China exported 11.25 million tonnes of steel products in September 2015 up 31.9% YoY an 15.6% MoM. In the first 9 months of 2015, Chinese steel exports have surged by 27.2% YoY to 83.11 million tonnes ie monthly average of about 9.23 million tonnes and annulized rate of 110 million tonnes
    
    Source : Strategic Research Institute

    Bijlage:
12. voda 14 oktober 2015 17:03

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    Tata Steel bags Golden Peacock Global Award for Sustainability
    
    PTI reported that Tata Steel has been awarded the 'Golden Peacock Global Award for Sustainability' (GPGAS) for 2015 by the Institute of Directors, India. The award was given at the Golden Peacock Awards Night in London recently
    
    The award was received by Bimlendra Jha, Executive Chairman, Longs Steel UK Limited and Executive Director, Group Strategy and European Supply Chain, Tata Steel Europe, from Sajid Javid, MP, the Secretary of State for Business, Innovation and Skills, Government of UK, who was present as the Chief Guest at the ceremony.
    
    On receiving the award, TV Narendran, Managing Director, Tata Steel (India and South-East Asia), said "We take pride that our efforts at ensuring operational sustainability and community engagement have been acknowledged. As we align ourselves to the changing global scenario, we continue to uphold the values of our founding fathers. It is always our endeavour to create value for all our stakeholders and grow through ethical business means.”
    
    The entries for this award were reviewed independently by assessors based on an exhaustive set of parameters for a total score card of 1,000 marks. This year, the title was awarded by the Expert Evaluation Committee of Golden Peacock Awards, under the chairmanship of Justice M N Venkatachaliah, former Chief Justice, Supreme Court of India
    
    Source : PTI
    
13. voda 14 oktober 2015 17:05

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    !!!!!!!!!!!!
    
    Worldsteel elects new officers and welcomes new members
    
    The Board of Directors of the World Steel Association (worldsteel) has elected the following new officers for 2015/2016 at worldsteel’s 49th Annual Conference in Chicago, USA. The new Chairman takes office from today, Tuesday 13th October, 2015. The new officers are elected for one year, until October 2016.
    
    Chairman
    Wolfgang Eder, Chairman and CEO, voestalpine AG
    
    Vice Chairman
    John Ferriola, Chairman, CEO, and President, Nucor Corporation
    
    Treasurer
    Eiji Hayashida, President and CEO, JFE Holdings, Inc
    
    The Board of Directors also elected the 2015/16 Executive Committee:
    Wolfgang Eder, voestalpine AG
    John Ferriola, Nucor Corporation
    Eiji Hayashida, JFE Holdings, Inc.
    Heinrich Hiesinger, ThyssenKrupp AG
    Sajjan Jindal, JSW Steel Ltd
    Oh-Joon Kwon, POSCO
    André Gerdau Johannpeter, Gerdau S.A.
    Mario Longhi, United States Steel Corporation
    Lakshmi Mittal, ArcelorMittal
    Alexey Mordashov, Severstal JSC
    Paolo Rocca, Techint Group
    Kosei Shindo, Nippon Steel & Sumitomo Metal Corporation
    Lejiang Xu, Baosteel Group Corporation
    Edwin Basson, World Steel Association
    
    The Board of Directors also welcomed the following companies as new members of worldsteel:
    
    Regular members (steel companies producing more than 2 million short tons (1.8 Mt) per annum):
    AK Steel Corporation, represented by Roger Newport
    
    Affiliated Members (steel related organisations):
    Austrian Mining & Steel Association, represented by Roman Stiftner
    The Indian Steel Association, represented by Sanak Mishra
    
    Source : Strategic Research Institute
14. voda 14 oktober 2015 17:09

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    Indian steel demand may grow 7.3% YoY in 2015 - worldsteel
    
    Steel demand growth in India is seen to be the highest at 7.3% in the current year, while there will be slackening of demand in all other major steel-producing nations such as China, the US, Japan, Korea and Russia. The world demand for the alloy would decelerate 1.7% compared to 2014, according to World Steel Association (WSA).
    
    India’s steel demand grew by 3.1% in 2014 to 75.9 MT. In the current year, the demand is expected to grow to 81.5 MT. The demand is likely to accelerate further next year with 7.6% growth, the premier industry organisation said in its short-range outlook for the sector.
    
    Mr Jurgen Kerkhoff, Chairman, Worldsteel Economics Committee said “We expect the current headwinds to moderate in 2016, but this is based on a belief that the Chinese economy will stabilise. Of particular concern is the vulnerability of the emerging economies to external shocks though we are also expecting some, like India, to show resilience to the global slowdown. On a positive note, the recovery of steel demand in the developed economies, even though the momentum has weakened a little, remains on track.”
    
    WSA said after growing by just 0.7% in 2014 to 1540 MT, the average global steel demand is likely to fall by (-) 1.7% in the current year to 1,513 MT. But, it will grow by 0.7% in the next year to 1,523 MT.
    
    Source : Financial Express
    
15. voda 14 oktober 2015 17:14

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    Guinea is stuck in a painful marriage with Rio Tinto Group
    
    Bloomberg reported that West African nation Guinea is unhappy that Rio is taking so long to develop Simandou, the world’s largest untapped iron-ore deposit. But with a USD 20 billion bill and prices near a seven year low making major companies rein in spending, it’s difficult for the biggest producer of the material to make a move. The stakes for Guinea are huge. Simandou could double the size of its USD 6.5 billion economy and turn it into the third-biggest iron-ore exporter.
    
    The report quoted a government official overseeing the infrastructure project as saying that “They’re giving us the runaround. We’re running out of patience. We can’t spend our whole lives without any development. Government is considering what mining policy to pursue. There have been people at Simandou for 15 years, 20 years, and they’ve never produced a ton of iron. Government is taking a new tender for another part of the deposit slowly because we don’t want our minerals to be put out to pasture anymore.”
    
    Eighteen years after the government invited the producer to explore the deposit, the company says state reviews, low prices, losing the rights to half its deposit and the worst outbreak of Ebola have set it back.
    
    Two-thirds of the USD 20 billion investment will be for infrastructure, including a 650-kilometer railway to connect the mountainous jungle around Simandou to the coast and a deep-sea port. Rio and its partners have already spent $3 billion on the deposit
    
    In 2006, almost a decade after starting exploration, Rio said it had found 1.6 billion metric tons of iron-ore reserves. Production was planned for 2013 and to reach 100 million tons of ore a year at its peak. Soon, the government started reviewing the terms of the project and in 2008 President Lansana Conte withdrew the rights to two of the four blocks. They were handed to BSG Resources Ltd., the company of Israeli billionaire Beny Steinmetz, which sold 51 percent of the two to Vale SA, Rio’s biggest iron-ore rival. The BSGR and Vale venture lost its title after the government found BSGR had obtained it through bribery something the company denies. In 2011, Rio renegotiated its deal, paying the government $700 million in upfront taxes, with Walsh saying he hoped to ship iron ore by mid-2015. The Ebola outbreak in December 2013 forced workers at Simandou to withdraw. Rio then missed the July deadline for the feasibility study.
    
    Not advancing Simandou fits in with tactics by Rio, Vale and BHP Billiton Ltd., the three biggest iron-ore producers, to acquire the largest deposits but then not develop them so that they don’t compete with existing mines, according to Kenneth Hoffman, a senior metals and mining analyst with Bloomberg Intelligence.
    
    Source : Bloomberg
    
16. max21 14 oktober 2015 20:48

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    bron: fd.nl
    fd.nl/ondernemen/1122781/china-verlie...
    
    China verliest hoger beroepszaak over staal bij WTO
    
    China heeft een hoger beroepszaak bij de Wereldhandelsorganisatie (WTO) over roestvrijstaal verloren. Als gevolg van de uitspraak mag China geen importheffingen opleggen aan bepaalde roestvrijstaalproducten uit Europa en Japan. China was in februari ook al in het ongelijk gesteld, maar ging toen in beroep.
    
    Na beschuldigingen dat Europese en Japanse producenten hun producten te goedkoop verkochten in China, legde ’s werelds tweede economie in 2012 zware importheffingen op op roestvrijstaalproducten uit Europa en Japan. Beide landen togen vervolgens met klachten naar de WTO, in een poging hun eigen producenten te beschermen. Het ging hier volgens persbureau Reuters om Japanse bedrijven als Nippon Steel en Sumito Metal Corp en om Tubacex en Salzgitter, respectievelijk een Spaanse en Duitse roestvrijstaalproducent.
    
    De uitspraak van woensdag heeft een definitief karakter. China zal gevraagd worden om de eigen regelgeving in overeenstemming te brengen met die van de WTO.
17. voda 15 oktober 2015 16:49

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    Zal wel gekozen zijn om haar achternaam? :-)
    
    Steel and engineering association elects first woman president
    
    The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has for the first time, elected a woman president and chairperson of Board of Directors. Ms Angela Dick, Transman founder and Chief Executive Officer, was elected Seifsa president on Friday at the annual general meeting in Johannesburg.
    
    She said “I am truly humbled that a giant such as Seifsa would consider and ultimately appoint me to this important position. It is a task that I accept and will embrace wholeheartedly.”
    
    Ms Dick acknowledged that the road ahead would not be easy given the challenges currently facing the metals and engineering sector. She said she believed that as long as the government, labour and business work together, there is hope that the fortunes of the sector can be turned around.
    
    Ms Dick would be bringing to this position a wealth of experience and insight in the industry, and she would be taking over the reins from Scaw Metals Group Executive Chairman Ufikile Khumalo, who headed the Seifsa board for two years.
    
    Seifsa Chief Executive Officer Kaizer Nyatsumba thanked Khumalo for his “excellent leadership of the Federation during his presidency” and welcomed Dick aboard at the board meeting.
    
    Ms Dick is also the Vice President of the Confederations of Associations in the Private Employment Sector and a Director of Business Unity South Africa (Busa). In addition, she has been Chairperson of the Busa Policy Commitee for seven years.
    
    Source : citizen.co.za
    
18. voda 15 oktober 2015 16:50

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    2015 worldsteel Safety and Health Excellence Recognition
    
    The World Steel Association (worldsteel) has recognised excellence in six safety and health programmes from Arrium, Essar Steel, Gerdau, Hadeed, NatSteel and Tenaris.
    
    All six programmes demonstrated a commitment to safety and health that fulfilled three key criteria:
    1. The programme positively embraced the worldsteel safety and health principles
    2. The programme was able to demonstrate a positive impact upon safety metrics
    3. The programme could be easily applied to other member companies
    
    The safety and health projects for which the six companies are being recognised are listed below:
    
    Arrium – South Australia launched the ‘Swear By Safety’ campaign, a comprehensive cultural change process to shift belief around achieving Goal Zero and injury prevention behaviours at its mining and steel business as well as the broader community in Whyalla, South Australia. The campaign was well supported with unique and appealing materials through multimedia including TV, radio, print advertisements and social media. Overall, 800 people within the workplace and community took the ‘Swear By Safety’ oath, including the local mayor.
    
    Essar Steel – India launched a ‘Process Safety Management’ (PSM) project in December 2010 with a baseline external audit by a third party, which was followed by further audits in 2012, 2014 and 2015. The project incorporates a number of different safety initiatives and aims at involving all employees and contractors. The initiatives include an online PSM portal, PSM campaigns, screening of PSM video films and a Safety Rally which gathered over 3,500 employees. As a result, the PSM culture score evaluated by the third party audit has improved from 55% in 2010 to 92% in 2014.
    
    Gerdau – Brazil developed a ‘Leader’s Proactive Index’ (LPI) which monitors and evaluates the execution and control of leaders’ safety activities. The LPI approach encourages leaders to demonstrate their commitment through managing safety on a daily basis while successfully carrying out their activities at the same time. The initiative, based on regular evaluations of the company’s leaders, has produced both qualitative and quantitative benefits and has resulted in a notable improvement in Injury Frequency Rate and Severity Rate in 2014.
    
    HADEED – Saudi Arabia built a new user-friendly online Environment Health Safety and Security (EHSS) reporting system, with investigation and action tracking features aiming to make the process of producing Near Miss Reports accessible to all. An overall Near Miss Analysis is carried out every month and every Near Miss is subject to a detailed analysis by the company’s safety department. The Near Miss Analysis report helps the company to identify areas of concern that require attention and encourages employees to adopt a culture of EHSS reporting. As a result of this initiative, the number of Near Misses reported has increased almost tenfold, from 1,579 in 2009 to 15,433 in 2014.
    
    NatSteel Holdings - Singapore implemented a ‘Total Workplace Safety and Health’ (TWSH) programme, a holistic approach to integrate its safety, health and well-being activities in 2014. This is a continuation of the safety excellence journey to cultivate a safety and health culture in the workplace embarked on in 2008. The TWSH approach recognises that the work environment and the overall health, safety and well-being of employees are interrelated. With the implementation of various programmes, such as the Occupational Hygiene programme, the Wellness programme and Health programme, the health of the employees has improved significantly and has resulted in the reduction of chronic diseases.
    
    Tenaris – worldwide launched the ‘Safety Work Instructions’ project in 2010 to define best practices focusing on development, availability, training, adherence control and updating. The aim was to standardise behaviours among different teams and encourage management leadership through direct involvement in the approval and control process. The company developed 4,000 Safety Work Instructions, available to all those working in operative areas and around 8,000 inspections were performed in 2014. As a result, the total number of injuries in 2014 was reduced by 36% compared to 2010.
    
    Dr Wolfgang Eder, worldsteel’s Chairman for 2014/2016, said: “The 2015 safety and health submissions and implemented programmes once again show that leadership of the CEO or Chairman of an organisation is a key element of any successful safety and health initiative. Leadership is undoubtedly essential in building a sound, safe and healthy work environment. We are very proud of the companies recognised this year for the improvement they have made for their employees, but also the positive impact they have made on the industry. There is no better way to improve safety performance than sharing the knowledge and experiences among peers.”
    
    Source : Strategic Research Institute
19. voda 15 oktober 2015 16:51

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    LME upbeat on prospects of new steel contracts - Report
    
    Reuters reported that a range of industry players in both physical and financial markets are backing the London Metal Exchange's new steel derivatives contracts, boding well for the exchange's bid to make inroads into the new market. With US bank Goldman Sachs, top global steel trader Stemcor and top global metals recycler Sims Group on board, the LME will launch the cash-settled contracts next month, hoping to make money in the fast evolving ferrous derivatives market.
    
    It launched a physically deliverable steel billet contract in 2008 that failed, largely due to problems storing and withdrawing the metal from backlogged LME warehouses. Top steelmakers, averse to ferrrous derivatives, avoided the contracts and their price eventually lost synchronicity with the physical market. The LME's new contracts, by contrast, will be cash settled against a physical Turkish scrap and rebar price index, to stay in touch with the real market. Crucially, the products will have several market makers guaranteeing liquidity.
    
    Mr James Rilett of MVS, a commodities analytics business sai "Having steelmakers on board at first, though helpful, is not necessarily a critical success factor. The contract needs people with a variety of physical trading priorities, as well as speculators to take both sides of a trade. It also needs banks and other counterparties. It sounds like the LME could have this.”
    
    The LME steel committee, which advises the exchange on contract launches, has the International Steel Trade Association, which represents steel merchants globally, on board. Also present is the Turkish Steel Exporters Association, a powerful industry lobby. Experts say the addition of US based steelmaker AK Steel to the LME steel committee is another positive.
    
    In Europe, steelmakers are more wary, although their attitude towards ferrous derivatives is more open than it was when the LME billet contact was launched. Voestalpine, SSAB and Salzgitter told Reuters they will not be using the contracts, as did several mid-tier German steelmakers, but Germany's ThyssenKrupp and another mid-tier German steelmaker, said they will take a wait-and-see approach. ArcelorMittal and Tata Steel declined to comment, but industry sources say they use iron ore derivatives, and so have traders in place should the steel contracts take off.
    
    Source : Reuters
    
20. voda 15 oktober 2015 16:52

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    • voda

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    Essar Steel Minnesota and state negotiating deal on money owed
    
    Duluth News Tribune reported that Essar Steel Minnesota and state officials continue to spar over how and when the company will repay $67 million in state incentives the company received to build a once-promised Iron Range steel mill that now appears out of the picture.
    
    The negotiations continued at a Monday morning meeting in Eveleth between Gov. Mark Dayton, top state economic development officials, Iron Range lawmakers and Essar Steel Minnesota CEO Madhu Vuppuluri and other company officials.
    
    While Essar is well underway in building the state's first all-new, full-scale taconite iron ore operation in 40 years just outside Nashwauk in Itasca County, the state money was tied to adding a steel mill to the project by October 2015, to add value to Minnesota minerals and create 100 steelmaking jobs here.
    
    Essar says plans for that steel mill have been shelved, at least for the near future.
    
    Now, state officials are enforcing the 2007 contract that says Essar must repay the money by October 2015, saying that progress on the taconite plant is not enough to get out of the debt.
    
    State officials say Essar recently rejected a state proposal to make an immediate down payment on the $67 million owed and then repay the rest over time, after production begins.
    
    Essar's debt to the state and several contractors aren't its only outstanding problems. In September a federal judge entered a $32.9 million judgment against the firm after a jury agreed Essar violated a contract for natural gas to serve its Nashwauk taconite project. Essar is appealing that order.
    
    Source : Duluth News Tribune