Nieuws en info hier plaatsen (deel 4)

1. voda 3 december 2015 19:25

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   Tata Steel Singapore subsidiary inks USD 1.5 billion funding pacts
   
   Press Trust of India reported that Indian steel major Tata Steel announced its Singapore arm has executed pacts worth $1.5 billion for refinancing its debt. It said "TS Global Holdings Pte Ltd, a subsidiary of Tata Steel Ltd incorporated in Singapore, has executed agreements for loan facilities of $1.5 billion comprising a five -year loan of $750 million and a six-year loan of $750 million.”
   
   The loan facility has been contracted with a group of 16 mandated lead arrangers including Australia and New Zealand Banking Group Ltd, Axis Bank Ltd, Bank of America NA, Bank of Tokyo-Mitsubishi UFJ Ltd, BNP Paribas, Citigroup Global Markets Asia Ltd and ICICI Bank, among others.
   
   It said that the proceeds will be used to repay existing term loan facilities in TSGH
   
   Tata Steel Group Executive Director, Finance and Corporate, Kaushik Chatterjee, said: "Tata Steel actively reviews all its financing options and seeks to continuously optimise its debt based on market conditions. The new loan facilities provide significantly greater flexibility in their terms and conditions and provide savings in cost, besides extension of tenor. This will provide greater financial headroom for the business, as it faces tough market conditions, even as overall leverage and debt remain unaffected", he said.
   
   Source : PTI
   
2. voda 3 december 2015 19:29

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   Liberia lawmaker wants waiver for Mittal Steel - Report
   
   Front Page Africa reported that a Grand Bassa County lawmaker has underscored the need for the Government of Liberia to give steel giant Arcelor Mittal Liberia some level of tax waiver.
   
   Representative Mr Jeh Byron Browne (Liberty Party), Acting Chair of the County Legislative Caucus said it is government's obligation to protect what he called both the natural and co-operate citizens by satisfying both parties.
   
   Following its first redundancy of over 250 workers in June this year, Mittal recently announced that it will sliced 450 jobs. The steel company argues that the mining industry is experiencing major challenges as a result of the significantly lower iron ore price.
   
   Finance and Development Planning Minister, Mr Amara Konneh in recent times revealed that the company has proposed that the government waive some of the fiscal provisions in the Mineral Development Agreement (MDA).
   
   And observers now say Hon. Browne's position on the situation will renew debates for government to employ a stimulus plan in other to help prevent the pending job cuts and at the same time protect the investment. Hon. Browne, who is also the Chairman on the House's Committee on Rules, Order and Administration, expressed fear that if the situation is not carefully addressed the country's economy could worsen by the loss of jobs.
   
   Mr Browne said that "We don't want to be disingenuous. What we need to do is give the company a tax holiday and if we give the company a tax holiday it will enable our people to remain on job and instead of losing 450 jobs we might have over 300 persons losing their job."
   
   Hon. Browne disclosed that all legal concessions rectified by the Legislature and approved by the President have a provision legally termed as 'Force Majuere'- having the legal authority to take action. The lawmaker argues that the current situation is appropriate to evoke this clause in the MDA which was rectified in 2006, adding that it's the full responsibility of national government to provide such leadership.
   
   He said that "Do we tell these people that we can't give them tax holiday and they say (in return) that they will close down and when Mittal is closed we will not receive the over USD1 million that we are getting for the county social development fund."
   
   He added that Grand Bassa County legislative caucus is being fully backed by other legislative caucuses to ensure government takes the right action to avoid the job cuts. "As the Acting Chair of the caucus we are planning to meet with the President which requires the kind of relationship and based on what we have discussed with Arcelor Mittal then we can tell Madam President to give the company tax waiver." Browne insists that though waiving the tax will cost the government millions, it will also help keep Liberian employed.
   
   However, the Acting Bassa Legislative caucus Chair has described the planned redundancy as unacceptable; suggesting that other options can be considers instead of the job cuts. During a meeting in Monrovia on Friday, November 27, Browne said he stressed that they (Lawmakers) conceded that the company is enduring a pinch of the global economic challenges due to the drop in iron ore price. But he claimed that some of the expatriates who are causing the company massive financial expenses should be laid off instead of Liberians.
   
   Source : Front Page Africa
   
3. voda 3 december 2015 19:30

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   Vale pares 2016 iron ore production forecast in Australia
   
   The Age Australia reported that Vale cut its iron-ore output forecast for next year as efforts to limit low-margin operations and a dam spill at a joint venture threaten to close the gap between the Brazilian giant and producers in Australia.
   
   According to the average of three analyst estimates, the world's biggest miner of the steel-making ingredient expects to produce 340 million to 350 million metric tons in 2016. That compares with guidance of 376 million tons given in December. Vale was expected to forecast 344 million tons.
   
   Vale flagged the guidance reduction in July as slumping metal prices spurred efforts to lift average ore quality. Adding to that are interruptions related to the November 5 dam collapse at its Samarco joint venture with BHP Billiton that halted output and damaged infrastructure used by another Vale mine.
   
   Mr David Gagliano, a New York-based analyst at BMO Capital Markets, said that "Trying to be the largest producer of anything in the world of metals these days isn't necessarily a positive."
   
   According to Metal Bulletin, iron ore was down 1.7 per cent overnight to last trade at $US42.24 a tonne. The price of iron ore has tumbled more than 70 per cent from a 2011 peak amid slowing growth in China and as the largest suppliers - including Vale, Rio Tinto Group and BHP - raise output to boost savings and squeeze out higher-cost rivals. Now the Rio de Janeiro-based company is reducing output from lower quality facilities and replacing it with more productive projects.
   
   Mr Murilo Ferreira, CEO, who stepped down as chairman of state-controlled oil company Petroleo Brasileiro, will host the miner's annual investor day event at the NYSE on Tuesday. The shares, down 44 per cent this year, rose 0.9 per cent to 10.73 reais at 11.12am in Sao Paulo.
   
   Vale added that it's on track to produce 340 million tons of iron ore this year.
   
   Source : The Age Australia
   
4. voda 4 december 2015 16:23

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   MMK increases steel shipments to foreign carmakers
   
   Magnitogorks Iron and Steel Works is increasing industrial shipments to foreign carmakers with localised production in Russia. Shipment volumes in this segment increased four times year on year in 2015 as a share of MMK’s total shipments of automotive sheet.
   
   MMK’s serial shipments of galvanised and cold-rolled steel to the Russian operations of foreign carmakers reached 405 thousand tonnes in 2014 and stood at 278 thousand tonnes in the first eight months of 2015. Carmaking is one of the most promising and attractive segments for MMK, and the steelmaker is aiming to strengthen its position and becoming a leading supplier of metals to the industry.
   
   In the next 10 years MMK aims to become the #1 supplier to the domestic carmaking industry, and also to become a key supplier to the three leading foreign brands in Russia. The company’s Strategy through 2025 notes that MMK aims to achieve this goal by improving its CRM systems, expanding its high-quality product range, developing best-in-class marketing and improving IT infrastructure for clients.
   
   MMK produces more than 50 types of steel to European standards. The chief and most important segment is production of rolled-products with high-quality surface finishing for manufacturing external car parts. During production of these coatings the key aim is to ensure “ideal” feedstock preparation and putting in place an intelligent production programme. The LPTs-11 cold-rolling facility makes it possible to meet the highest standards of surface quality for both hot-galvanised (Group C) and cold-rolled (Group 1 surface finish) products, ensure tight tolerance of thickness and flatness, apply iron-zinc coatings (galvanealing), passivation and thin organic coatings for corrosion protection. Positive results from consumers using high-quality galvanised products (Group C) indicated that automakers are interested in this product. MMK is ready to consider other product brands and sizes and bring them into production.
   
   MMK’s production capabilities for high-quality rolled products for carmakers, including foreign manufacturers with localised production in Russia, have significantly expanded with the launch of the mill 2000 cold-rolling facility at LPTs-11. The technological abilities of this facility mean MMK can meet the strictest quality standards for cold-rolled and hot-galvanized products, ensure strict thickness tolerance, and apply galvaneal and phosphate coatings to protect against corrosion. MMK was awarded a Russian Governmental science and technology prize for developing and introducing high-quality, cost-effective next generation steel sheet for carmakers.
   
   Source : Strategic Research Institute
5. voda 4 december 2015 16:24

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   Latin American steel imports from China up by 5% in 9 months
   
   Latin American steel association Alacero announced that during the first nine months of 2015, Latin America imported 6.4 million tonnes of finished steel from China for a value of of USD 3,569 million, equivalent to an average price of USD 562 per tonne.
   
   In Jan/Sep 2015, the volume of finished steel from China entering the region increased 5% compared to Jan/Sep 2014. These products arrived at the region at an average price 7% higher than the one registered for the rest of the world.
   
   However, several destinations in the region faced imports prices significantly lower than the rest of the world. Among the most damaged were Central America (average price of US$ 449, 15% below r-o-w average), Dominican Republic (average price of US$ 474, 10% below r-o-w average), Peru (US$ 488, 7% below r-o-w) and Colombia (US$ 496, 6% below r-o-w)
   
   Chinese average export prices to Latin American decreased 33%. During 3Q-2015, the average price of Chinese imports to Latin America was US$ 515 per ton, a decrease of 22% vs 3Q-2014. The sharpest falls were recorded in Paraguay (-38 %), Central America (26%), Colombia (-26%) and Peru (-26%), at values of US$ 449, US$ 411, US$ 456 and US $450 per ton respectively.
   
   During the first nine months of 2015, flat products con centrated 58.6% of the finished steel exports from China to Latin America, with 3.7 million tons (8% less than in Jan/Sep 2014) at a price 2% below than the one observed for the rest of the world. The average price of imports of flat products from China to the region declined 11% compared to Jan/Sep 2014, while for the rest of the world it fell 25%.
   
   Chile, Brazil and Mexico, the three largest importers of flat steel from China received 702 thousand, 650 thousand and 577 thousand tons respectively. In Chile, average prices were 7% lower than r-o-w average. In the case of Brazil, average price was 1% lower. On the other hand, Mexico registered average prices 4% higher than the r-o-w.
   
   Low prices particularly affected Peru (average price of US$ 513, 14% below r-o-w), Colombia (US$ 514, 13% below) and Central America (US$ 541, 9% below). Only Argentina, Mexico and Venezuela received flat products from China at a higher price the rest of the world
   
   Between Q1-2013 and Q3-2015, the volume of flat products shipped from China to Latin America grew 105%, while it increased 107% to the rest of the world. In the same period, average prices fell 24% in the case of the exports to Latin America and 36% for the products shipped to the rest of the world.
   
   During the first nine months of 2015, steel sheets and other alloy steel coils (1.3 million tons) and hot galvanized steel (854 thousand tons) were the most significant exports from China to the region, showing a drop in its import volume of 11% and an increase of 2% over the first nine months of 2014, respectively.
   
   During the first nine months of 2015, exports of long products from China to Latin America reached 2.3 million tons, 37% of the finished steel received from that country. Average price was US$ 478 per ton, 18% higher than the one observed for the rest of the world. Central America, the largest importer of long steel in the region (626 thousand tons), registered an average price of US$ 375 per ton, 8% lower than r-o-w.
   
   The largest volume of imports in the period were registered for bars (1.06 million tons) and wire rod (955 thousand tons) that showed 85% and 10% growths versus Jan/Sep 2014, respectively.
   
   In Jan/Sep 2015, seamless pipes accounted for 4.4% of finished steel shipments from China to the region, a volume of 278 thousand tons (31% drop y-o-y). The average price for Latin America was US$ 1,034 per ton, 7% lower than for World.
   
   Source : Strategic Research Institute
   
   
6. voda 4 december 2015 16:25

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   Indonesian steel industry to recover on Made in Indonesia steel rule
   
   Indonesia Investments reported that the overall capacity utilization of Indonesia's steel industry could grow to 80 percent from 50 percent currently. However, it will require government support as the country's steel industry has not yet felt the impact of the government's push for infrastructure development.
   
   Mr Hidayat Triseputro, Executive Director of the Indonesian Iron and Steel Industry Association, is optimistic this target can be achieved as the government's push for infrastructure development is showing positive signs as there have been more groundbreaking ceremonies for large government-led infrastructure projects across the country in the second half of 2015.
   
   However, Mr Triseputro stated that provided the government orders the mandatory use of domestically produced steel in these projects, then the capacity utilization of the Indonesian steel industry can reach up to between 80 and 100 percent in 2016".
   
   Mr Triseputro expects that steel demand in Indonesia will grow to 28 million tons in 2016 due to the country's infrastructure projects. In 2015, Indonesia's steel demand is estimated at around 14 million tons, while domestic steel production capacity is only around seven million tons, showing the need for steel imports. These steel imports mainly originate from China. Triseputro said China exports about 10 million tons of steel to Indonesia per year.
   
   The main problem why the Indonesian steel industry has difficulty to sell its output is the chronic oversupply of steel in China. A further problem is that China's steel is not only cheaper but is also believed to be of higher quality compared to Indonesian steel. Indonesia's steel manufacturers can only compete with their Chinese counterparts if they sell steel at prices that are below production costs.
   
   Source : indonesia-investments.com
   
7. voda 4 december 2015 16:26

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   Alibaba joins hands with Minmetals to give E push to ailing Chinese steel sector
   
   Caixin reported that an investment firm under Alibaba Group Holding Ltd. signed an agreement on December 2 with the listed subsidiary of major state-backed metals trader to develop an e-commerce website for steel products.
   
   The deal will see Hangzhou Ali Venture Capital Co Ltd invest CNY 317 million in the website. Shanghai-listed Minmetals Development Co Ltd, a unit of China Minmetals Corp, will invest another CNY 203 million
   
   The investments are being put into a company called Minmetals E-Commerce Co Ltd, which was set up in 2012 by Minmetals Development and has reported losses in recent years. The leadership of Minmetals E-Commerce Co invested CNY 72 million for a 10 percent stake in the new venture.
   
   An analyst who declined to be named said that a downturn in the steel industry has caused prices for products to tumble since last year, which has created an opportunity for online trading to improve the efficiency and cut costs.
   
   Source : Caixin
   
   
8. voda 4 december 2015 16:27

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   Congressman Rick Nolan introduces SOS Act to ban steel imports into US
   
   US media reported that US Rep Rick Nolan has followed through on his pledge to seek relief for iron ore and steel regions in the county, including the Iron Range, that are reeling from illegally subsidized steel imports. The 8th District congressman on Monday introduced legislation that would ban foreign steel imports from coming into the country for five years.
   
   Nolan’s bill, called the Support Our Steelworkers (SOS) Act, has yet to enlist co-sponsors for the measure, but staff members said they are working “on a couple leads.”
   
   Nolan said the drastic step is needed to give time for recovery of the U.S. ore and steel industries that have been devastated by illegally subsidized steel imports. He said “We must confront and stop the illegal dumping of millions of tons of low-grade, foreign government-subsidized steel that has sent the Iron Range taconite mining industry and America’s steel industry into the steepest decline in decades.”
   
   He said “To be clear, there is plenty of demand for steel in the United States. Domestic steel consumption rose by 11.7 percent in 2014 alone. Unfortunately, foreign steel imports jumped by 36 percent last year, capturing their highest share of the US market on record and limiting growth in our domestic industry to just 3 percent. So the simple fact is, increased U.S. consumption is being supplied by illegal, subsidized foreign steel.”
   
   Congressman Nolan is also urging President Obama to use his executive authority under Section 201 of the Trade Act of 1974 to impose tough new tariffs that would effectively and quickly impose the equivalent of a moratorium on foreign steel imports. He said “We are asking the president for action the equivalent of what President (George W.) Bush did in 2002 when our mining and steel industries faced similar dire crises. Bush used his executive authority to impose dramatic tariffs that had the effect of a moratorium. President Reagan acted in similar fashion in the 1980s, and in both cases our mining and steel industries quickly rebounded. If those dedicated ‘free traders’ could see the light and stand up for American jobs and American workers, there’s no reason President Obama can’t do the same today.”
   
   He added ““The fact is, the Department of Commerce is currently administering 157 anti-dumping or countervailing duty orders against foreign steel and they haven’t made a dent in steel dumping, because every time we enter into a trade agreement, we’re stuck with enforcement provisions that aren’t worth the paper they’re written on. Our trade enforcement system is broken; it’s riddled with loopholes; it takes too long; and as we’ve seen on the Iron Range, it allows horrific economic damage to be done before what little enforcement powers we have can even begin.”
   
   Source : grandrapidsmn.com
   
9. voda 4 december 2015 16:29

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   Indian government looking at comprehensive policy to contain steel imports
   
   PTI reported that Indian government is looking at a comprehensive policy response as imposition of safeguard duty on steel imports has failed to contain the imports.
   
   Commerce Secretary Rita Teaotia said that recently the government imposed a 20 per cent safeguard duty on certain categories of steel but the the industry continues to feel "stressed" and the imports actually remains at the same level.
   
   She said "We have to look at it at a global context. What is the level of supply? What is the level at which people are actually willing to bring their prices down to have access to markets and what should be the instruments by which we will look to address this. So I think, we are going to looking at in a comprehensive policy response.”
   
   She said things are being worked out to deal with the surge in imports.
   
   When asked what could be the options other than imposing duties, she said: "it is a work in progress".
   
   Source : PTI
   
10. voda 4 december 2015 16:33

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    MV Anangel Explorer loading iron ore from Roy Hill mine delayed
    
    ABC reported that Ms Gina Rinehart's Roy Hill mine has been forced to cancel the departure of its first iron ore shipment from Western Australia's Pilbara, rescheduling it to next week. The bulk carrier, MV Anangel Explorer, docked earlier this week for loading at the newly completed Roy Hill wharf in Port Hedland.
    
    The ship was due to leave on Friday, but in a statement Roy Hill said progressive commissioning and safety constraints on first shipments had delayed the vessel. The company said the shipment has been rescheduled to next week.
    
    The project was originally meant to ship first ore in September but safety concerns, cost overruns and lengthy court battles between contractors pushed out the target.
    
    Source : ABC
    

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11. voda 4 december 2015 16:35

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    OMC gets better response at E auction of iron ore
    
    Business Standard reported that Odisha state run miner Odisha Mining Corporation's move to cut floor price of iron ore lumps and fines has drawn a better response from the buyers at its latest e-auctions held last Monday.
    
    Out of 381,000 tonne offered for sale by OMC at the e-auctions, 196,000 tonne was sold, representing a success rate of 51.44%.
    
    In case of lumps (with Fe content of 62-64%), the prices have been slashed by Rs 400-700 per tonne whereas fines prices have been corrected by Rs 100-300 a tonne. Lumps prices have gone down by 18-30% while in case of fines, prices have dropped in the range of 7-24%. Base prices of lumps were fixed in the band of Rs 2000-2300 per tonne while for fines, it was in the range of Rs 1150-1500 per tonne.
    
    OMC's previous attempts to despatch ore through auctions drew a lacklustre response from buyers, due to its prohibitive floor prices. The quantity of unsold ore by OMC had piled up, taking its inventory to the level of six million tonne.
    
    Source : Business Standard
    
12. voda 4 december 2015 16:35

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    NMDC CMD admits to pressure on iron ore prices as steel mill pile up huge steel inventories
    
    Iron ore prices have fallen 40 percent in the last one year and this is making producer of the ore NMDC take massive price cuts. In an interview to CNBC-TV18, Mr Narendra Kothari, chairman and managing director says the company has lowered prices from INR 3600 to INR 1500 per tonne.
    
    Excerpts from the interview
    
    Q: What are your prices right now?
    
    A: Prices are always in pressure and we also have corrected our price to that level in India. So yes, last year we used to sell iron ore finds at around Rs 3,200 which we are selling at Rs 1,500 price today so we also have reduced our prices to that extent. Definitely there is a great pressure because there is oversupply in the market of the iron ore and the international price today is hovering around 40-41 which a few days back was around 50. So definitely the pressure is there on the prices and I hope this is the price which should remain because it is very difficult to maintain the price below this.
    
    Q: The targeted EBITDA margins for next one year used to be at 75 percent and now it is around 60 percent.
    
    A: Definitely it was there. It will go down, it will not remain the same. I won't be able to give you exact level right now because fluctuations are going on the market, situation is there but definitely it will be less than what is going on because the prices are constantly going down.
    
    Q: How is your demand side looking, is it going to go slower from here?
    
    A: At present, not heavy demands are there because there are very heavy amount of inventory steel plants. My iron ore requirement depends upon steel industry's demand and there is steel demand in countries is there but a lot of imports are there and inventory at various steel producers like SAIL , JSW Steel, Essar everywhere has increased. Huge inventories are there. They have reduced their productions, demand of iron ore is also less compared to but I hope now with the thrust of a new government on infrastructure in coming months demand should go up.
    
    Source : CNBC TV 18
    
    
13. voda 4 december 2015 16:40

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    Mining outlook weakens further on falling Chinese demand - Fitch
    
    Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will continue to weaken in the coming year and that commodities will remain deeply unpopular with investors.
    
    Source : Strategic Research institute
14. voda 7 december 2015 16:15

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    Chinese economische groei vertraagt in 2016 verder
    
    AMSTERDAM (Dow Jones)--De Chinese economische groei zal in 2016 verder vertragen, zo meldt een onderzoeksinstituut van de Chinese National Development and Reform Commission in een artikel in de China Securities Journal.
    
    Het onderzoeksinstituut The State Information Center (SIC) voorziet een groei van het Chinese bruto binnenlands product (bbp) van 6,5%. Daarnaast wordt een groei van de consumentenprijzen voorzien van 1,5% en een daling van de producentenprijzen van 3,5%.
    
    Volgens de SIC heeft de Chinese economie nog steeds potentieel en is sprake van een veerkrachtige economie.
    
    Daarnaast meldt het onderzoeksinstituut dat een midden- tot hoogtempo groei nog steeds mogelijk is als China de economie herstructureert, met het potentieel de binnenlandse vraag te laten groeien, gezien de omvang van de Chinese markt.
    
    De Chinese economische groei is in het derde kwartaal vertraagd tot 6,9%, het traagste tempo sinds het uitbreken van de financiele crisis.
    
    
    - Door Patrick Buis; Dow Jones Nieuwsdienst; +31 20 571 52 00; patrick.buis@wsj.com
    
    
15. voda 7 december 2015 16:33

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    Tata Steel Scunthorpe bags major rail order from SNCF in France
    
    Scunthorpe Telegraph recently reported that the Scunthorpe Tata Steel works has been given a major boost of confidence by the main French rail operator SNCF.
    
    It was announced that a contract to supply rail track - which will use steel from Scunthorpe - will be extended by at least five more years – and could run until 2024.
    
    Tata Steel will supply the bulk of SNCF’s 750,000 tonne requirements of high-quality rail over the duration of the renewed contract in lengths of up to 108 metres, with steel freighted from Scunthorpe to the rolling mill in Hayange, France.
    
    The company’s rail sector boss, Gérard Glas, said: "This contract will provide a valuable foundation for our future order book and keeps SNCF at the very heart of our focus for delivering customer satisfaction in terms of quality products and services.”
    
    Source : Scunthorpe Telegraph
    

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16. voda 7 december 2015 16:34

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    Italian steel scrap market report
    
    Alocci Rappresentanze Industriali reported it is not easy to explain what happened during November in Italy. At the beginning of the month some mills reduced their spot prices of 5 – 10 €, but others remained with their prices unchanged. After ten days the Mills who cut the prices were obliged to put, always on the spot market, 10 – 15 € more to receive enough scrap to cover the needs. The others, who remained with unchanged prices, were also obliged to increase their prices of 5 – 10 €. At the end of November several mills, interested in receiving as more scrap as possible in December (to reach the seasonal fermatures with high inventories), increased their spot prices of further 5 – 10 €.
    
    A little bit different are those deals made with the European Suppliers on monthly basis: The mills paid the same prices of October for small quantities and increased the prices of 10 € for the contracts with large tonnage. It is important also to point out that the foreseen reduction in the November production was in the end very low. All that due to a better end-user demand – maybe to refurbish the inventories – and some better sale prices (plus 10 – 20 €), but also the need to use as more as possible electric power against the “take or pay” contracts. The arrivals at the Italian ports in November were abt 20 Kt for scrap, abt 95 Kt for pig iron and abt 90 Kt for HBI. The scrap yards inventories are always suffering the low old scrap generation and new scrap collection. Still reported are some delays in mills payments.
    
    Following the November official average prices reported (€/pmt delivered):
    
    New arising E8:
    Italy 170
    France 178
    Germany 178
    
    Shredded E40:
    Italy 175
    France 183
    Germany 183
    
    Demolition scrap E3:
    Italy 155
    France 158
    Germany 158
    
    The December scrap market is conditioned by three main causes: the scrap dealers who need to get at the end of the year the same inventories they had at the beginning of 2015, the limited working days available (around 15 days) and the mills aim to close the year with the higher possible scrap inventories. It means that mills that are in a hurry to receive scrap have to pay higher prices.
    
    Source : Alocci Rappresentanze Industriali
    

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17. voda 7 december 2015 16:36

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    Fire rips Samut Prakan steel factory in Thailand
    
    Published on Mon, 07 Dec 2015 90 times viewed
    
    Bangkok Post reported that a fire ripped through a steel factory in Samut Prakan's Phra Pradaeng district early Friday morning, causing at least 15 million baht in damage. The blaze at Triumph Steel Co factory at Soi Bunlom on Phuchao Samingprai Road in tambon Samrong Tai broke out around 5am on Friday
    
    Six fire trucks were sent to manufacturer of hot rolled structural steel located on a 50-rai compound.
    
    Flames engulfed a large power transformer and main power circuit before spreading quickly to workers' bedrooms and a room storing bunker oil. Firemen took more than three hours to bring the blaze under control. Damage was estimated at least 15 million baht, said police.
    
    Bampen Kraisua, 55, a worker, told police that a furnace which he and other workers were welding caught fire before the power transformer exploded. Flames quickly spread to bedrooms of workers in the upper floor of the factory.
    
    Source : Bangkok Post
    

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18. geldverdubbelaar 7 december 2015 16:36

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19. voda 7 december 2015 16:38

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    GBS with steel-concrete-steel sandwich developed for Arctic offshore structure
    
    The gravity based structure (GBS) with external steel-concrete-steel (SCS) sandwich ice-resistant wall has been developed for the Arctic oil and gas drilling. Researchers reported experimental studies on the mechanical properties of steel and concretes under Arctic low temperature.
    
    A paper firstly reported the experimental studies on the mechanical properties of steel and concretes under Arctic low temperature. With the test data, design equations were developed to incorporate the influences of the low temperature on these mechanical properties.
    
    Arctic temperatures improve mechanical properties
    
    Two types of Arctic GBS structure with flower-conical SCS sandwich shell type and plate type of ice-resistant wall have been developed for the Arctic offshore structure. Besides the studies on the materials, two SCS sandwich prototype shells and plates were, respectively, prepared and tested under patch loading that simulated the localised ice-contact pressure. The structural behaviours of the SCS sandwich structure under patch loading were reported and discussions were made on the influences of different parameters on the structural behaviour of the structure. Analytical models were developed to predict the punching shear resistances of the SCS sandwich structure through modifying the code provisions. The accuracies of the developed analytical models were checked through validations against 27 tests in the literature. Corresponding design procedures on resistances of SCS sandwich structure were recommended based on these discussions and validations.
    
    The study is published in: Materials & Design, Volume 91, 5 February 2016, Pages 111–121
    
    Source : european-coatings.com
    
20. voda 7 december 2015 16:39

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    FBR unearths multibillion rupees tax evasion in steel sector in Pakistan
    
    The News reported that Pakistan’s apex tax authority has unearthed multibillion rupees of tax evasion by some steel manufacturers who were found misusing a sales tax incentive scheme last week. The sources said the Federal Board of Revenue detected a gross misuse of its special sales tax regime by the steel sector that caused multibillion rupees losses to national exchequer.
    
    Under the 58H of the Special Sales Tax Procedure Rules, 2007, steel- melter, steel re-roller and composite unite of steel melting – having a single electricity meter – are required to pay sales tax at the rate of nine rupees per unit of electricity consumed for the production of steel billets, ingots and mild steel products excluding stainless steel. This payment will be considered as their final discharge of sales tax liability.
    
    The steel sector falls under the special sales tax procedure and pays tax on the electricity consumption. In case of use of any other source of energy for producing goods, the steel units have to pay normal sales tax.
    
    The sources said the FBR had conducted a random scrutiny of steel units to verify their electricity consumption pattern. The preliminary investigation revealed that the units had concealed around 90 percent of payable sales tax by using other sources of energy, including gas and burning tyres. The sources said the FBR is intending to conduct comprehensive audit of steel industry across the country to realise the revenue either avoided or evaded.
    
    A tax department has already issued notices to Karachi-based steel units. However, the units maintained that since they fall the special procedure regime of sales tax they are paying their due liabilities through their electricity bills.
    
    Source : The News
    

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