Nieuws en info hier plaatsen (deel 4)

1. voda 24 december 2015 13:36

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   US imposes prelim CVD on import of heavy walled rectangular welded steel pipes from Turkish
   
   US Department of Commerce has slapped countervailing duties of up to 7.69 percent on heavy walled rectangular welded carbon steel pipes and tubes from Turkey.
   
   The US DOC has calculated a preliminary subsidy rate of 7.69 percent on MMZ Onur Boru Profil uretim San Ve Tic AS and 1.35 percent for Ozdemir Boru Profil San ve Tic Ltd Sti. All other producers and exporters in Turkey will be assigned a rate of 4.39 percent.
   
   A final Commerce ruling will be made on or around May 2, with the U.S. International Trade Commission making a final decision on June 16.
   
   The complaint was lodged on behalf of Atlas Tube, a division of JMC Steel Group; Bull Moose Tube Company; EXLTUBE; Hannibal Industries, Inc; Independence Tube Corporation; Maruichi American Corporation, a subsidiary of Maruichi Steel Tube Ltd ; Searing Industries; Southland Tube and Vest Inc.
   
   Source : Reuters
   
2. voda 24 december 2015 13:36

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   Chinese steel exports to decline to 70-80 million tonnes in long term - Fitch
   
   Leading rating agency Fitch said that China's annual steel exports are likely to fall to 70 to 80 million tonnes in the long term. In 2014, the country's steel exports reached 93.8 million tonnes.
   
   It said “In the future, more steel production capacity will become outdated mainly because of market demand rather than tough government policies. Earlier tough environmental policies have driven many small mills to close, and more struggling steel makers will be under further pressure as anti-pollution measures increase costs.”
   
   China will add 16 million tonnes of new steel capacity each year in 2016 and 2017 while shutting down 75 to 85 million tonnes of outdated capacity in the next five years, it said, predicting a capacity peak in 2016.
   
   Source : Xinhua
   
3. marcel13 24 december 2015 13:44

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   24/12/2015 kbc beurs bij de Lunch
   
   Het grootste staalbedrijf ter wereld ArcelorMittal
   kon profiteren van het nieuws dat het Amerikaanse
   ministerie van handel een belastingvoet van 256% wil
   introduceren voor de import van Chinees roestvrij staal.
   De import uit India, Zuid-Korea en Italië zal aan lagere
   tarieven worden onderworpen. Gisteren schoot het
   aandeel 10% de hoogte in, maar noteert 2 uur na op
   ening onveranderd. Aan een gemiddeld koersdoel van
   6,69 euro ( Bloomberg consensus) heeft het aandeel een
   opwaarts potentieel van 60%.
4. gpjf 24 december 2015 15:11

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   dat het Amerikaanse ministerie van handel een belastingvoet van 256% WIL
   introduceren voor de import van Chinees roestvrij staal , eerst doen en dan zien we het wel !!!
5. max21 26 december 2015 19:22

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   www.usatoday.com/story/money/2015/12/...
   
   The global steel industry is reeling amid a plunge in steel prices, a flood of low-priced imports from China and other countries, and a collapse in investment in pipes for oil drilling as a result of tumbling crude prices. USA TODAY economics reporter Paul Davidson spoke about these challenges with Wolfgang Eder, chairman of the World Steel Association and CEO of Austrian steel giant Voestalpine. The company has 46,000 employees worldwide and 2,500 workers and nearly two dozen factories in the USA.
   
   Q: U.S. steelmakers are awaiting decisions on trade cases against China for illegally dumping steel below cost in this country. Is this a global problem?
   
   A: The current Chinese overcapacity problem affects all parts of the world. Chinese plants (are selling) not only to the U.S. but also to Europe. It's an intensive discussion of what should be the reaction and an ongoing discussion to what extent Europe should follow the U.S. (in filing trade cases). The problem at the moment is enormous. I do hope we will find some balance again in the next months, but at the moment, the situation is a very serious and critical one.
   
   Q: What's the long-term solution?
   
   A: In the long run, a solution to the problem can only come from the reduction of capacities. According to OECD (countries in the Organization for Economic Cooperation and Development ), there are 600 to 700 million tons of overcapacity (worldwide), the largest part in China. That means permanent pressure on margins and prices.
   
   Q: Is the plunge in steel prices affecting your company, Voestalpine?
   
   A: We are not (selling) any material via the spot market. We do have only high-quality steel, and this steel is only sold based on contracts. We are, of course, the (supplier) for the German auto producers — BMW, Mercedes, Audi, Porsche. So we are one of the largest suppliers for these car producers. They are only buying really high-tech, high-quality material where we can differentiate. Two-thirds (of production) is downstream — we make complete automotive components, exteriors of cars, we produce complete rail tracks.
   
   Q: Still, you do make some raw steel, and the drop in prices has affected you, hasn't it?
   
   A: We have started additional cost-cutting measures. We try to avoid layoffs because we do not want to lose highly qualified people. So for the time being, we have (cut staff) in only a very few locations — some in Germany, some in Brazil. And, of course, we try to extend our product range. We intend to sell more automotive parts.
   
   Q: Have you been affected by the downturn in oil and gas drilling?
   
   A: We have not yet been affected by the weakness in the oil and gas market, but we do expect, looking forward ... the second half (of the fiscal year) will be a really more difficult period. Inventories are extremely high now, of oil and gas, but also inventories for all the production equipment are at very high levels. We cannot expect oil and gas levels will come down quickly over the winter as they have reached levels we have never seen before. So it's unlikely we'll see recovery of this segment before the summer of next year.
   
   Q: Are other segments hurting as well?
   
   A: You have several industrial segments that are also not in good shape. For example, in Europe, it's building construction where we have not seen any major recovery in the last year. You have the global situation in oil and gas. You have a very volatile situation in machine building. So this is a very shaky environment. Automotive is doing well. We have no indication that automotive demand will show weakness.
   
   Q: When do you expect steel prices to recover?
   
   A: That's very hard to predict where the prices are going. Nobody expected a few months ago that they could go down that far. I do not want to give any indication where the prices of steel could go. As long as overcapacity is constantly putting pressure on the market, it's unlikely we'll see a broader price recovery.
   
   Q: You're building an $800 million steel plant in Corpus Christi, Texas, and half of the production is raw steel that you'll ship back to your factories in Austria. Why did you build that plant in the USA when many manufacturers continue offshore U.S. production?
   
   A: We checked 18 possible locations for that plant worldwide. From the European point of view, the U.S. does have much more advantages. The U.S. has enough land available. The U.S. has extremely cheap energy. The cost of gas, for example, is only one-third of the cost in Europe. Electric energy is cheaper as well. You have a very positive political environment for industrial operations. It's a very clean procedure if you apply for building. In Europe, it gets much more complicated. The regulatory environment is more complicated in Europe. Compared to other parts of the world, cheap labor is still available. All of that means the U.S. offers a very solid base for industrial operations.
   
   Q: What's the main drawback of locating in the USA?
   
   The main disadvantage in my opinion is taxes in the U.S., especially corporate taxes. There are a number of regions in the world that are more attractive. And access to qualified labor, qualified people. Those are the two main disadvantages. Unemployment (in the USA) is low, and it has become difficult to find qualified people.
6. voda 28 december 2015 15:18

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   Scotland’s steel plants not included in venture capitalists' rescue deal - Report
   
   The Nation reported that the future of Scotland’s last remaining steel plants continues to hang in the balance despite a potential buyer emerging. Tata Steel is in exclusive talks to sell its long products business to venture capital firm, Greybull Capital. However, union officials said Greybull’s business plan does not include the two mothballed plants in Lanarkshire with the loss of 270 jobs.
   
   Mr Steve McCool, national officer at steelworkers’ union Community, said the prospect of a deal with Greybull would not necessarily guarantee the future of the Dalzell plant in Motherwell and Clydebridge plant in Cambuslang.
   
   Mr McCool said that a Scottish-only business model had been put forward to the Scottish Steel Task Force by the unions that showed both Lanarkshire plants were viable.
   
   He said that they could be sold independently, regardless of any prospective deal with Greybull, and he remained hopeful a buyer could be found.
   
   The union’s general secretary, Mr Roy Rickhuss, welcomed the interest from Greybull but said “the devil will be in the detail of the deal”.
   
   He added that “It is also clear from today’s announcement that any future for the Dalzell and Clydebridge mills in Scotland will be with a different investor. Again, this should bring renewed focus to the work of the Scottish Government’s task force in ensuring that the skills and assets are preserved and a buyer is found.”
   
   In October Tata Steel said it could axe about 1,200 jobs at its long products unit, which is based in Scunthorpe, north-east England and employs some 4,700 people across Europe, as well as 270 jobs in Scotland.
   
   In July, Tata announced plans to cut up to 720 jobs, mostly in Rotherham, northern England.
   
   Source : The Nation
   
7. voda 28 december 2015 15:20

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   US Steel Canada’s monthly operational losses far less than expected
   
   The Spec reported that US Steel Canada is still losing money, but the pool of red ink at the end of November was only half as deep as expected. In his latest report, the court-appointed monitor of the company's restructuring under creditor protection said November's loss on operations was only USD 5.8 million, rather than the forecast of USD 11 million. The year-to-date loss on operations is $109 million compared to a full-year loss of $37.9 million in 2014. After 11 months the company has reported a net loss of $368.7 million.
   
   Company spokesperson Mr Trevor Harris said that "We are performing ahead of the plan by a substantial margin. We consider this a very constructive result. We've blown our forecasts right out of the water and we expect to continue to do that."
   
   Mr Harris said that "Global steel markets have faced significant challenges as a result of weaker demand and significant excess production capacity. Countries with excess steel production have continued to flood global markets through exports, thereby pushing steel prices lower" resulting in lost jobs and idled mills.”
   
   Ahead of those hearings — set for Jan 14, 15, 20, 21, 22 and 25 — the provincial government has filed court documents opposing US Steel's effort to suppress reports from two financial experts opposing the company claims.
   
   John Finnerty and Brad Hall, of AlixPartners LLC, were hired by the provincial government to torpedo the US Steel claims. Hall argues in his report the amounts U.S. Steel claims are not debt because "a third party lender in an arm's length transaction would not have provided financing to (U.S. Steel Canada) in the amounts and on the terms as those provided by USS."
   
   Source : The Spec
   

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8. voda 28 december 2015 15:21

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   Egyptian Ezz Steel Dekheila Steel posts net loss in Jan-Sept 2015
   
   Business results revealed that Al Ezz Dekheila Steel Company Alexandria (IRAX) suffered a 172.7% increase in net losses in the first three quarters of 2015, compared to the same period in 2014.
   
   IRAX is a subsidiary of Ezz Steel Company, the largest producer of steel in the Middle East and North Africa, and an often accused monopolizer of the steel market. The company presviously controlled approxiamtely 50% of Egypt's steel market, but in 2009 the Egyptian Competition Authority cleared the company of any violations of monopoly law.
   
   Recent consolidated business results showed that IRAX losses have been exacerbated to 559 million EGP over the first nine months of this year, compared to 205 million EGP in 2014.
   
   The company said that net losses from July to September amounted to 321 million pounds, a total of 32% more than 2014’s losses.
   
   Source : Aswat Masriya
   
9. voda 28 december 2015 15:23

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   LME reaches target of 5 market makers for new steel contracts
   
   The London Metal Exchange added three more market makers for its new steel rebar and scrap contracts, meeting its target of five market makers.
   
   The LME, the world's biggest marketplace for base metals trade, aimed to appoint at least five market makers to provide liquidity for its new contracts that were launched last month.
   
   After reviewing tenders, the LME said in a statement it had selected three more electronic market makers, who are expected to provide bids and offers for the steel contracts. It did not name the chosen firms.
   
   It said that "The LME has now reached its target of five market makers in the new ferrous products, and so does not propose to re-open the tender process at this time."
   
   Source : Reuters
   
10. voda 28 december 2015 15:24

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    TMK supplies lubricant free coating GreenWell for LUKOIL-Nizhnevolzhskneft
    
    Russian steelmaker TMK, which claims to be one of the world’s leading producers of tubular products for the oil and gas industry, has shipped premium pipe products with lubricant-free coating GreenWell for LUKOIL-Nizhnevolzhskneft.
    
    Source : Strategic Research Institute
11. voda 28 december 2015 15:24

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    Mr Dayton gives Essar Steel final offer to repay $ 66 million
    
    Star Tribune reported that Gov. Mr Mark Dayton has issued a “final offer” for Essar Steel Minnesota to repay nearly $66 million in loans to help build a still uncompleted taconite plant in northeastern Minnesota. The governor, in a letter sent Wednesday to Essar Steel CEO Mr Madhu Vuppuluri, gave the company a week to accept the terms, which would require payments to begin in early February and be fully repaid by the end of 2020.
    
    According to the letter from Dayton’s office, Essar must repay USD 10 million to the state in two payments — USD 3.4 million due by Feb. 7 and USD 6.6 million by March 31.
    
    Meanwhile, Essar would then repay the $55.9 million balance in 16 quarterly payments beginning March 31.
    
    Essar Steel said in a statement that it was reviewing the state’s proposal and “will respond in due course.” Company officials added they also are “continuing to work diligently in its efforts to keep payments flowing to local contractors and vendors.” Essar owes a half-dozen Minnesota vendors more than $18 million for work.
    
    The state loaned the money to Essar Steel in 2004 as a deal sweetener in hopes that its proposed $1.9 billion iron ore processing plant and steel mill project in Nashwauk would bring hundreds of construction, mining and manufacturing jobs to the region. It was the first such project in more than four decades and would have been the state’s first integrated iron-ore to steel mill operation.
    
    Essar broke ground seven years ago, but the project came amid one of the worst downturns in the global iron and steel industries and construction moved in fits and starts. Essar ultimately abandoned plans for the steel mill, which was the impetus of the state’s $66 million grant to help such infrastructure costs as roads, railroads and utilities.
    
    The loan repayment schedule has been extended several times in recent years, and earlier this month Dayton issued a public ultimatum. The company plans to complete the taconite facility in the second half of 2016. The letter from Dayton’s office acknowledged the “importance of the project to the Iron Range,” but also underscored that “timely payments are exceedingly important to the state.
    
    Source : Star Tribune
    
12. voda 28 december 2015 15:25

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    Indian car makers use better quality steel for exports – Mr D’Souza
    
    Financil Express reported that the automobile industry in India is making superior quality cars for the export markets while making humbler cars for the Indian market, which is unfair says Kenneth D’Souza, consultant, International Zinc Association, Canada.
    
    D’Souza that the car models exported from India use galvanised steel for the car body as the regulations there demand it while the cars in India use coated steel as no such regulatory framework exists here.
    
    D’Souza added that “For exports, 70% of the body-in-white is galvanised while for domestic models only 3% is galvanised and in some new models it is up to 20% galvanised. All car models exported from India are galvanised as per the regulatory norms mandated by US/ Europe, but the same car models are not galvanised for Indian market, which is the 6th largest market in the world. This unfairness is quite alarming. The overall benefit to the automaker to convert the 400 kilogram car body-in-white from cold rolled steel to galvanneal is estimated to offset the material and processing cost.”
    
    D’Souza said that “Car makers in Europe, North America, Korea and Japan have been using galvanised steel for body panels for decades. Their cars get 12 year anti-corrosion and perforation warranties. While there is no such protection for cars made for Indian consumers. Here customers have to pay for extra coatings to protect the underbody and teflon and keep spending on maintenance. This also affects the residual value of the car.”
    
    However, galvanizing is controlled coating of zinc on steel which offers steel protection from corrosion.This adds to the cost of the car by around INR 5,000 to INR 10,000.
    
    Source : Financil Express
    
13. voda 28 december 2015 15:26

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    US Steel Granite City steel plant idling will go on - Official
    
    BND reported that an official said that a tentative deal between US Steel Corp. and its 18,000 steel workers nationwide will not change the company’s plans to temporarily close the Granite City Works steel plant beginning next week. The company will begin laying off the first of Granite City Steel’s 2,000 workers on Sunday and the process will take several weeks.
    
    Mr Dave Dowling, United Steelworkers District 7 Sub District 2 Director, said that “We don’t expect the tentative agreement to have any impact on the US Steel’s plans to idle the Granite City facility. There’s been no change in the projected idling that US Steel projected.”
    
    Meanwhile, the plant idling should not affect workers at the SunCoke Energy plant, located adjacent to the Granite City mill.
    
    Mr Mike Fultz, who once worked at the steel mill, said the coke oven is in the sixth year of a 15-year contract with the steel plant to produce all of the coke for U.S. Steel Corp.-Granite City Works. Mr Fulz said that “The idle should not impact us. We will still go to work every day.”
    
    The new contract covers workers at the company’s Granite City Works and at the steelmaker’s domestic flat-rolled and iron ore mining facilities across the country as well as tubular operations in Fairfield, Ala.; Lorain, Ohio, and Lone Star, Texas.
    
    Source : BND
    
14. voda 28 december 2015 15:26

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    US steel imports in November dip by 23% MoM
    
    Based on preliminary Census Bureau data, the American Iron and Steel Institute reported last week that the US imported a total of 2,351,000 net tons (NT) of steel in November 2015, including 1,921,000 net tons (NT) of finished steel (down 22.7% and 15.6%, respectively, vs. October final data).
    
    Source : Strategic Research Institute
15. voda 28 december 2015 15:27

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    CISA opposes Mexican decision on AD probe on Chinese steel
    
    China Daily recently reported that the China Iron and Steel Industry Association recently opposed Mexico's decision to launch an anti-dumping investigation into imports of corrosion-resistant steel produced in the Chinese mainland and Taiwan. The response came after Mexico's Ministry of the Economy announced that it will begin an anti-dumping investigation into imports of coated flat steel products from the Chinese mainland and Taiwan.
    
    Mr Wang Liqun, CISA Vice-Chairman, said that the association totally disagrees with the practices and viewpoints of the Mexican authority. Such behavior will hurt steel producers from a number of countries from long-term perspective, and disregards the fact that the global steel market has entered a fully competitive period.
    
    Mr Wang said overcapacity is a common issue in global steel industry restructuring, which requires the concerted efforts of all parties in the global steel industry.
    
    He said that "To simply attribute difficulties in one country or region to Chinese enterprises is irresponsible, and it will not help solve the difficulties faced by the industry in their own country or region, and nor will it promote the healthy development of the global steel industry."
    
    Mexican steel producer Ternium Mexico SA demanded an investigation in September, claiming that shipments from the Chinese mainland and Taiwan surged between January 2012 and April 2015 and that threatened the market interest of local manufacturers.
    
    Meanwhile, China's steel exports amounted to 93.87 metric million tons in 2014, up 46 percent year-on-year. CISA predicted that China's steel exports will exceed 110 million metric tons this year.
    
    Source : China Daily
    
16. voda 28 december 2015 15:28

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    Indian steel demand to grow 7pct in 2016 – Mr TV Narendran MD Tata Steel
    
    Hindu Business Line reported that Tata Steel expects the industry to focus on creating a level playing field for domestic producers to compete with exporting countries in 2016. Mr TV Narendran, Managing Director, Tata Steel, said that the focus for next year is to ensure a level playing field for the domestic companies as it now appears to be skewed with increasing imports.
    
    Mr Narendran said that the pace of economic growth in the country is encouraging for the steel sector and the demand is expected to increase seven per cent to 87.6 million tonnes next year from 81.5 million tonnesd in 2015.
    
    He said that overall 2015 was a tumultuous year for commodity sector globally and will go down as the toughest patch for the industry in recent past. Indian steel companies were also been affected by the global oversupply situation.
    
    He added that one of the biggest challenges for domestic steel companies was to tackle imports from steel surplus countries such as China, Japan and Korea. The sharp increase in imports and predatory pricing has impacted the profitability of Indian steel producers.
    
    He further added that despite gloomy situation, the steel sector has been working to achieve the Government target to scale steel production to 300 million tonne by 2025.
    
    Source : Hindu Business Line
    
17. voda 28 december 2015 15:29

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    Get Used to China Steel as Macquarie Sees It Getting Cheaper
    
    Bloomberg News last week reported that the world needs to get used to cheap Chinese steel, with export prices poised to fall again next year as the world’s biggest producer adjusts to demand that’s dropping for the first time in a generation.
    
    Colin Hamilton, Macquarie Group Ltd.’s head of commodities research, told Bloomberg that the price of hot rolled coil may decline about 13 percent in 2016 as Chinese steel exports, which have ballooned to more than 100 million tonnes this year, may stay at those levels for the rest of the decade as infrastructure and construction demand continues to falter.
    
    Macquarie is forecasting an average price next year of USD 267.5 a tonne, down from USD 309 a tonne in 2015.
    
    He said “While falling steel prices are partly driven by the collapse in raw materials and lower output costs, it’s just more to do with the fact the industry was built for demand growth that hasn’t come through. We’re past peak steel demand. I think provided there is overcapacity in the Chinese system and given where demand is, it’s going to be like this for some time.”
    
    China’s hot-rolled coil is a key reference price for the global steel market.
    
    Source : Bloomberg
    

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18. voda 28 december 2015 15:36

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    SAIL halves bonuses on losses in Q1 2015
    
    Financial Express reported that official sources said that on a drive to cut operational costs amid adverse market conditions, Steel Authority of Indi has decided to reduce bonus payments to its over 70,000 non-executive employees by almost half this fiscal. While savings due to this is estimated to be nearly R100 crore this year, the PSU is also winding up many of its branch offices and pruning travel expenses of its senior executives.
    
    For the last three years, SAIL has been paying annual bonuses in the range of INR 8,330 to INR 18,270. While higher sums are given to workers in the five integrated units, with those in Bhilai Steel Plant receiving the highest, those in loss-making units get relatively less.
    
    The SAIL management, ahead of the last Diwali season, had paid INR 9,000 per head as bonus for employees in integrated steel plants and INR 7,000 to those in other units.
    
    Mr Biswajit Biswas, general secretary of the INTUC-affiliated Hindustan Steelworkers’ Union at the company’s Durgapur Steel Plant, said that “However, during the recent meeting with the representatives of National Joint Committee for Steel (NJCS), the management has clearly stated that it would not be possible for the company to match the amount of bonus paid in the last three years as the company is incurring losses.”
    
    A SAIL official explained that the payment of bonus is always linked to the company’s profits and given the losses being made currently, all employees, including the non-executive ones, would have to bear the brunt.
    
    Source : Financial Express
    
19. voda 28 december 2015 15:38

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    South Africa govt tntervention saves jobs in steel sector
    
    A News reported that South African government's intervention at Evraz Highveld Steel in Emalahleni has helped secure the continued employment of 650 workers who had been facing possible retrenchment. The Departments of Labour and Economic Development worked together to facilitate the company's access to the Department of Labour's training layoff scheme.
    
    This forms part of government's broader response to problems experienced in the steel sector.
    
    According to the Department of Labour, China's lower demand and the oversupply of steel in the world market has negatively impacted the global industry. It has also affected local companies and threatened local jobs.
    
    Government worked closely with stakeholders, including Evraz Highveld Steel management, trade unions Numsa, Solidarity and Cosatu, and the CCMA to identify the training layoff scheme as an alternative to retrenchment, facilitate the application process and finalise agreements between the Department of Labour/Unemployment Insurance Fund, Merseta, the company and trade unions.
    
    The Department of Labour said this agreement is an example of what can be achieved when social partners and stakeholders work together to preserve jobs, reduce poverty and unemployment.
    
    The Department of Labour and Economic Development Department expressed appreciation to the management, the unions and stakeholders of Evraz Highveld Steel for "their resolve to ensure the survival of the company and thereby guaranteeing employment to more than 650 employees".
    
    Source : Anews.gov.za
    
20. voda 28 december 2015 15:38

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    • voda

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    US DOC partially rescinded administrative review of AD Duty order on drawn SS Sinks from China
    
    US Department of Commerce announced to partially rescind its administrative review of the antidumping duty order on drawn stainless steel sinks from the People's Republic of China (PRC) for the period of review (POR) April 1, 2014, through March 31, 2015.
    
    All requesting parties withdrew their respective requests for an administrative review of the following companies within 90 days of the date of publication of the.
    
    Initiation Notice: Elkay (China) Kitchen Solutions Co Ltd, Guangdong G-Top Import & Export Co Ltd, Guangdong New Shichu Import & Export Co Ltd, Guangdong Yingao Kitchen Utensils Co Ltd, Jiangmen New Star Hi-Tech Enterprise Ltd, Jiangmen Pioneer Import & Export Co Ltd, Primy Cooperation Limited; Tianjin ZNJ Industries Co Ltd, Xinhe Stainless Steel Products Co Ltd, and Zhuhai Kohler Kitchen & Bathroom Products Co Ltd. Investigation on rest sixteen enterprises will continue.
    
    Source : SteelHome