Nieuws en info hier plaatsen (deel 4)

1. voda 17 december 2015 16:37

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   ArcelorMittal-koersdoel verlaagd naar $5,50 van $7,00 - Market Talk
   
   AMSTERDAM (Dow Jones)--Het koersdoel voor het aandeel ArcelorMittal (MT) wordt door Credit Suisse verlaagd naar $5,50 van $7,00 op grond van een sombere vooruitzichten voor de ijzer- en staalprijzen. De taxatie voor de winst voor aftrek van rente, belastingen, afschrijvingen en amortisatie van goodwill wordt verlaagd. Credit Suisse vindt de huidige waardering van het aandeel correct, aangezien een deel van de markt de huidige cyclus als structureel ziet. Het advies blijft neutral. Het aandeel ArcelorMittal sloot woensdag op EUR3,51. (andre.sterk@wsj.com)
   
   
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2. voda 17 december 2015 22:22

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   Algeria government to invest USD 2 billion to modernize El-Hadjar Steel Complex and SNVI
   
   Algerie Presse Service reported that 2 billion dollars will be released for the modernization of El-Hadjar steel complex in Annaba and the National Industrial Vehicle Company (SNVI) of Rouiba (Algiers), announced Monday in Boumerdes Minister of Industry and Mining Abdesslam Bouchaoureb.
   
   El-Hadjar steel complex was operating at only 10% of its production, two years ago, said the minister during his working visit to Boumerdes (50-km east of Algiers), adding that the State "has invested in the complex and decided its renationalization."
   
   The State released one billion dollars for the modernization of the steel complex, by the restoration of the blast furnace, which will be commissioned by March," he explained.
   
   One billion dollars will be devoted to the SNVI modernization and the purchasing of equipment, he added.
   
   Source : Algerie Presse Service
   
   
3. voda 17 december 2015 22:23

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   Chinese Jiangsu Yulong Group breaks ground for seamless steel pipe plant in Nigeria
   
   Xinhua reported that Chinese steel pipe manufacturer, Jiangsu Yulong Group, on Wednesday held a groundbreaking ceremony for a large-scale factory in Nigeria's Lagos Lekki Free Trade Zone. The groundbreaking ceremony was attended by government officials, Chinese envoys and representatives from private companies.
   
   Mr Willy Wen deputy general manger told Xinhua in an interview the Yulong Lekki project, consisting three phases of investment, would be the No 1 complex welding and seamless pipe manufacturer in Nigeria.
   
   He put the first phase of investment at USD 50 million, which would construct a Submerged Arc Welded Pipe production unit with designed capacity of 150,000 tons annually.
   
   The second phase of about USD 60 million would build an advanced equipped steel pipe production unit with another production capacity of 150,000 tons yearly.
   
   The third phase would establish an OCTG (tubing, casing, drill pipe and line pipe) production unit and matching equipment valued at USD 10 million
   
   He said the project would boost Nigeria's oil and gas industries when completed.
   
   The project, which encompasses 180,000 square meters, is expected to create employment for over 1,000 local people and will enhance modern technology transfer by training engineers in the steel fabrication business.
   
   Jiangsu Yulong Group was listed on China's Shanghai Stock Exchange in November, 2011
   
   Source : Xinhua
   
4. voda 17 december 2015 22:24

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   Sinosteel will extend bond redemption period for 3rd time
   
   Reuters reported that China’s state owned steelmaker Sinosteel said on Wednesday it will extend the registration period for early redemption on a putable bond that investors could originally elect to redeem in mid-October until Dec. 30.
   
   The statement posted on the website of one of China's main bond clearinghouses marked the third time Sinosteel has extended the redemption period.
   
   The latest extension comes after Sinosteel had asked bondholders of its 2 billion yuan ($309 million) October 2017 bond not to exercise a put option on Oct. 20, because the company would not be able to make a full payment, according to a letter seen by Reuters.
   
   Source : Reuters
   
5. voda 17 december 2015 22:25

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   US slaps 227% Preliminary duties on cold-rolled steel imports
   
   The United States on Wednesday slapped import duties of up to 227.29 percent on imports of cold-rolled flat steel from China after finding the goods were produced using unfair levels of government support.
   
   In a preliminary decision, the Department of Commerce set duties on imports from Brazil, China, India and Russia. The steel is used in industries ranging from auto manufacturing to construction.
   
   The duties will affect companies including Benxi Iron and Steel (Group) Special Steel Co after a complaint by AK Steel Corp, ArcelorMittal USA, Nucor Corp, Steel Dynamics Inc. and United States Steel Corp.
   
   The Department of Commerce is still to hand down preliminary rulings on anti-dumping duties on the goods.
   
   Source : Reuters
   
6. voda 17 december 2015 22:26

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   Vedanta to continue iron ore transport in Goa
   
   Navhind Times reported that a day after the truckers agitation broke out for the second time, the management of Vedanta’s iron ore division said on Wednesday that it would not bow down to intimidatory tactics and would “go ahead” with ore transportation.
   
   Company sources said that they have no plans of stopping the transportation and are trying to meet their export order.
   
   But we are not giving anything more than the stated rate of Rs 8 per tonne per kilometer to transporters, the sources said.
   
   Vedanta is amidst a crisis as the agitating truckers have stopped the ore transportation. The company had to cancel one shipment of export order after the agitation turned violent.
   
   The sources said that they are willing to resolve the issue “through talks” but will not be agreeing to any higher rate demanded by a section of truckers.
   
   Of the 1,300 truckers registered with the DMG, the company has engaged 600 truckers who have agreed to the Rs 8 per tonne rate.
   
   The agitation is by the truckers who are from other places and not on our route, claimed the sources. Ministers, opposition leaders, trade unions, etc., are trying to resolve the truckers issue which has been politicized, the sources said, adding that they are caught between freefalling international ore prices on one side and bullying unleashed by truckers on the other side.
   
   The Vedanta sources added that there is no instruction from the government to stop transporting ore and efforts will be on to resolve the issue with transporters.
   
   Source : Navhind Times
   
7. voda 18 december 2015 21:02

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   ArcelorMittal outlook negatief bij S&P - Market Talk
   
   AMSTERDAM (Dow Jones)--Standard & Poor's verlaagt de outlook voor ArcelorMittal (MT.AE) naar negatief van stabiel omdat 's werelds grootste staalproducent last heeft van de zwakke staalprijzen en daarom eerder al een winstwaarschuwing gaf voor dit jaar en dividenduitkeringen opschortte. De Amerikaanse kredietbeoordelaar past zijn outlook hierop aan en ziet aanzienlijke druk voor de voorlopig gehandhaafde BB-rating, omdat er op korte termijn geen verbetering lijkt te komen in de operationele omstandigheden van ArcelorMittal. De negatieve outlook betekent dat S&P de rating van de staalmaker in de komende drie tot zes maanden kan verlagen. Omstreeks 17.10 uur staat het aandeel 3,2% hoger op EUR3,56, terwijl de AEX 1% daalt. (marleen.groen@wsj.com)
   
   
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8. voda 18 december 2015 21:07

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   ArcelorMittal koersdoel omlaag naar $5,50 van $7,00 - Credit Suisse
   ArcelorMittal advies blijft neutral - Credit Suisse
   
   (MORE TO FOLLOW) Dow Jones Newswires
   
9. voda 18 december 2015 21:07

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   ArcelorMittal ondervindt problemen van dip mijnbouw - Market Talk
   
   AMSTERDAM (Dow Jones)--Staalbedrijf ArcelorMittal (MT.AE) mag dan wel kosten besparen in een lastige sector, maar volgens Royal Bank of Canada (RBC) is dit nog niet genoeg om de druk te verlichten. De analisten stellen dat het bedrijf meerdere opties heeft, waaronder het verlagen van investeringen. Maar indien er in de komende maanden niets gebeurt dan rekent RBC op een aandelenuitgifte. De bank verlaagt zijn winstverwachtingen voor 2016-2017 met 13%. Het advies gaat omlaag naar sector perform van outperform en het koersdoel naar EUR4 van EUR7. Omstreeks 10.15 uur noteert het aandeel 2,4% hoger op EUR3,53.
   
   
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10. voda 18 december 2015 21:08

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    3x slecht nieuws, en dan zo'n koers sprong. Interessant! :-)
11. geldverdubbelaar 20 december 2015 13:11

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    quote:

    voda schreef op 18 december 2015 21:08:

    3x slecht nieuws, en dan zo'n koers sprong. Interessant! :-)
    

    morgen UP plus 20%
12. torro 20 december 2015 13:59

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    Edwin wierda was ook redelijk positief in businessclass
13. voda 20 december 2015 16:50

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    Canada starts review of AD on steel gratings from China
    
    On August 12, 2015, the Canadian International Trade Tribunal, pursuant to subsection 76.03(3) of the Special Import Measures Act, initiated an expiry review of its finding made on April 19, 2011, in Inquiry No. NQ-2010-002, concerning the dumping and subsidizing of certain steel grating originating in or exported from the People's Republic of China.
    
    Source : Strategic Research Institute
14. voda 20 december 2015 16:50

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    Investments in Indian steel sector going through tough phase – Minister
    
    Indian Parliament was informed on Wednesday that investments in the Indian steel sector have not been very forthcoming on account of factors such as excess capacity in China which stood in the range of 250-300 million tonnes
    
    Minister of State for Steel Mr Vishnu Deo Sai said in a written reply to the Rajya Sabha “Investment in steel sector has not been very forthcoming especially from the private sector due to the prospects not being very encouraging.”
    
    The Minister added this has been impacted due to factors like the present global excess capacity, particularly in China, which has a huge excess capacity of 250-300 MT leading to significant decline in steel prices and increased imports and resultant financial stress on the existing domestic steel companies."
    
    To a separate query in the House on steel prices, Sai said the prices of steel items in the domestic market have decreased in the recent period due to various reasons like slow growth in domestic demand and cheap imports.
    
    Source : Economic Times
    
15. voda 20 december 2015 16:51

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    USW welcomes prelim duties on CR steel imports into US
    
    The United Steelworkers responded to the US Department of Commerce announcement of preliminary determinations in the countervailing duty investigations of imports for certain cold-rolled steel flat product imports from Brazil, China, India and Russia.
    
    USW President Mr Leo W. Gerard declared “Our government's investigation of cold rolled steel imports is a small step toward the immediate action America's steel industry needs against the continued job stealing by foreign government illegal subsidization and the resulting steel flooding into our markets.”
    
    He said “State owned steel companies in China have grossly expanded steel production capacity to stratospheric, uncontrolled levels that are wrecking American steelworkers' jobs and the communities where they live. We now have thousands of layoffs at the iron ore mines in Minnesota plus the steel mills in Granite City and Birmingham and northern Indiana as families enter the year-end holiday season."
    
    He flagged the Commerce Department's determination order that among the countries investigated, an extraordinarily high subsidy duty rate of 227 percent was being placed on all cold-rolled products exported by Chinese companies.
    
    According to the order, US Customs and Border Protection (CBP) will be instructed to require cash deposits based on the duty rates for steel imports from China and three other countries: Brazil (7.42 percent), India (4.45 percent) and Russia (6.33 percent – with the exception of the Severstal Companies). A negative determination was found for steel from South Korea.
    
    The USW represents 850,000 workers in North America employed in many industries that include metals, rubber, chemicals, paper, oil refining and the service and public sectors.
    
    Source : Strategic Research Institute
16. voda 20 december 2015 16:52

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    AK Steel cuts Q4 guidance
    
    AK Steel has provided guidance for its fourth quarter 2015 financial results. AK Steel said that it expects to report a net loss of $0.33 to $0.38 per diluted share of common stock for the fourth quarter of 2015, including approximately $0.42 per diluted share for charges related to the previously announced temporary idling of the blast furnace and related steelmaking operations at its Ashland, Kentucky Works facility and an impairment charge on its investment in its discontinued insurance operations
    
    The company said that it expects lower shipments in the fourth quarter compared to the third quarter principally due to the ongoing effects in the carbon steel spot market from what the company believes are unfairly traded steel imports.
    
    For the fourth quarter of 2015, AK Steel expects shipments of approximately 1.6 million tons, or about 14% lower than the third quarter of 2015. The lower shipments reflect AK Steel's decision to reduce sales to the carbon steel spot market due to the adverse impact on pricing from high levels of imported steel.
    
    AK Steel expects an average selling price of approximately $930 per ton for the fourth quarter of 2015, about 2% higher than the third quarter of 2015. The higher selling price is primarily due to a greater mix of higher value products sold into the automotive market. However, despite the slight rise compared to the prior quarter, the company's average selling price continues to be negatively impacted by the excess supply of low-priced foreign steel imported to the US market.
    
    Source : Strategic Research Institute,
    
17. voda 20 december 2015 16:57

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    Viet Nam's steel market shows positive growth 1 in 11 months – VSA
    
    Biz Hub reported that according to the Viet Nam Steel Association, Viet Nam's steel market showed growth in both production and business in the first 11 months of this year,
    
    In the first 11 months of this year, total output of building steel gained a year-on-year increase of 30.1 per cent to reach 6.1 million tonnes, the association said. This was the highest average growth rate of steel in recent years. Meanwhile, steel consumption saw a year-on-year surge of 24.3 per cent to 5.9 million tonnes of steel in the first 11 months of the year.
    
    Viet Nam Steel Corporation and Hoa Phat were the two leading manufacturers in the local steel market, with an output of 1.35 million tonnes and 1.27 million tonnes of steel, respectively.
    
    The association reported in November that steel makers manufactured 1.3 million tonnes, 28 per cent higher than the same period last year, including 627,700 tonnes of building steel. Meanwhile, the volume of consumption of building steel surged by 30 per cent year-on-year to 593,000 tonnes.
    
    In November production, consumption and exports of galvanised sheets fell compared to October, though it grew in comparison with the same period last year, the association reported.
    
    In November, output of galvanized sheets reached 290,000 tonnes, 5.2 per cent lower than October, but 39 per cent higher than the same period last year. Sales of galvanised sheets stood at 197,600 tonnes, 4 per cent lower than October, but 23 per cent higher than the same period in 2014.
    
    Source : bizhub.vn
    
18. voda 20 december 2015 16:58

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    Urgent steps needed to prevent Indian steel industry from collapsing – Mr Seshagiri Rao
    
    India Infoline News Service reported that in a recent talk with CNBC-TV18, Mr Seshagiri Rao, Group CFO & JMD, JSW Steel said that overseas’ steel manufacturers are hurting Indian steel manufacturers and there's an urgent need for appropriate measures by the Indian government to prevent steel industry from collapsing due to the steps taken by Japanese or Korean firms.
    
    In his opinion, the government should think about implementing floor price mechanism across the entire steel-products chain and should then levy safeguard duties on certain products.
    
    In Rao's opinion, a couple of reasons are primarily responsible for playing hurdles in the efforts of the government to bring down imports. Firstly, the misuse of free-trade agreements signed by India with other countries and secondly, the inefficiencies in the measures introduced. Steel is imported in different forms like cold rolled, alloy steel, etc., but the measures does not imply to the entire supply-chain.
    
    According to Rao, Indian steel industry is not in a good state at present due to the steps taken by Japanese, Korean and Chinese companies. The government announced a number of measures, but the reality is that they are getting delayed, which is hurting the industry severely.
    
    Source : India Infoline News Service
    
19. voda 20 december 2015 17:00

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    Nucor not to resume production at Louisiana DRI plant afer maintenance
    
    Nucor Corp. has decided to temporarily halt production at its St James steel mill because of market conditions. Nucor said that its direct reduced iron plant has shut down for routine maintenance. Afterward, the company will continue to stop production at the facility until market conditions imp
    
    It said “During the fourth quarter of 2015, we will complete a planned maintenance outage at Nucor Steel Louisiana. The Louisiana direct reduced iron facility will not resume operations after completion of the planned maintenance outage until market prices of alternative raw materials improve from current depressed levels.
    
    The company invested $750 million in the mill as the first part of a larger $3.4 billion steel complex that altogether would employ 1,250 people. The plant uses natural gas to make high-purity steel pellets from iron ore. Nucor mixes the pellets with scrap metal to make steel.
    
    Source : Strategic Research Institute
20. voda 20 december 2015 17:01

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    Mexico starts antidumping probe into imports of flat coated steel from China and Taiwan
    
    BNAmericas reported that Mexico's economy ministry launched an antidumping probe into imports of flat coated steel from China and Taiwan.
    
    The products under investigation are flat carbon steel or steel alloy, corrosion resistant and with a metallic or non-metallic coating.
    
    The investigation will consider imports from May 2014 to April 2015, and May 2012 to April 2015 for analysis of damage to national production.
    
    The investigation follows a complaint by steelmakers Ternium México and Tenigal, which said imports of the products at dumping prices increased significantly between 2012 and April 2015, harming domestic production.
    
    Mexico introduced a six-month 15% tariff on imports of 97 steel products from countries with which it has no free trade agreements in October, and steps to speed up antidumping investigations in July.
    
    Source : BNAmericas