Nieuws en info hier plaatsen (deel 4)

1. voda 10 januari 2020 16:44

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   Euroports and Zimmer Staal Open Steel Warehouse and Service Centre in Port of Antwerp
   
   Terminal operator Euroports and Zimmer Staal, a member of the Pisec Group, inaugurated a new warehouse on 4 December. With 17,500 square meters of storage space it is able to handle 10,000 tonnes of steel per month. Zimmer Staal was recently acquired by Pisec Group, a large Austrian company. The acquisition forms part of the group strategy for offering value added services to customers. The investment in steel is significant in view of the difficulties currently facing the steel market due to among other things the import duties being levied by the USA. The new facility demonstrates that despite this there is great confidence in the port of Antwerp as a major hub for breakbulk.
   
   Breakbulk forms an important part of the commercial strategy of Port of Antwerp. Antwerp XL is a new, successful event that was launched last year to attract the worldwide breakbulk community to Antwerp.
   
   Source : Strategic Research Institute
2. voda 10 januari 2020 16:45

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   Startup for ENERGIRON Plant at Ezz Steel
   
   On 20th of December 2015, the new ENERGIRON High Productivity Direct Reduction Plant, installed in Ezz Rolling Mills in Egypt, successfully passed the Performance test at the first trial just one month after the plant start-up. The new Cold DRI plant, featuring the ENERGIRON III technology, produced its first DRI on the 22nd of November and passed the Hot Test on the 2nd of December. After the Hot test completion, the plant, ready to increase its productivity, has been forced to work at reduced rate, due to limitations in the natural gas availability from the national network.
   
   The natural gas full availability was restored on the 14th of December and the plant has been successfully and quickly ramped up to its full productivity, allowing declaring the performance test start on the 15th of December only 13 days after the Hot Test completion. The test lasted 120 hours, during which the plant performed well above its target figures. The productivity was 112% of the guaranteed value showing a metallization >94% and a carbon content >3%, a feature achievable only with the ENERGIRON technology. Natural gas specific consumption of 2,57 Gcal/t and Electric Energy of 30 kWh/t complete the picture of an optimized technology with respect to overall energy consumption.
   
   One of the most peculiar characteristics of the ENERGIRON is the raw material yield. The ERM plant showed an impressive ratio of 1.37 t of oxide per t of DRI and is able to process oxide pellets or lumps screened at 3.2 mm, minimizing the rejected portion.
   
   The total plant production already exceeded the 110,000 tons in less than one month of operation, corresponding to the 66% of the learning curve. The hourly production rate has reached 262 t/h corresponding to an annual productivity of 2.1 Mtpy more than 10% above the guaranteed value of 1.9 Mtpy.
   
   Source : Strategic Research Institute
3. voda 10 januari 2020 16:49

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   Politicians Pledge to Support Steelworkers Facing Redundancy in UK
   
   British politicians have leapt to the defence of Liberty steelworkers at risk of redundancy and called for government to keep its promises of support for the sector. Miriam Cates, Conservative MP for Penistone & Stocksbridge, said she would do “everything I can to support those affected by this decision.She has also asked business minister Nadhim Zahawi for a meeting to discuss government support for the steel industry and workers.But Labour MPs have highlighted what they claim as government inaction.
   
   Sarah Champion, MP for Rotherham, said she had repeatedly challenged the Government to address issues hampering production, including high business rates, high electricity costs, imports of cheap steel and a failure to prioritise British steel in government procurement. She said “Unless the government removes these massive obstacles to competitive UK steel industry, the future of this vital industry remains bleak. It is their duty to protect the steel sector and I have requested an urgent meeting with the minister to hold them to account.”
   
   Rotherham MP John Healey said Sajid Javid, then business secretary, chaired a national steel summit in Rotherham in 2015 and pledged to help, but more than four years on, we’re still waiting. He said “This is devastating news for steel workers and their families, especially so early in the new year. I’ve talked to Liberty today and got confirmation that they will continue their investment programme in South Yorkshire, which includes plans to restart the N furnace at Rotherham Aldwarke, and I will continue pressing the company to keep that promise. But our UK steel industry still needs government backing. For years, I’ve been fighting with the industry for help on business rates and UK energy costs which are far higher than our European competitors. The government isn’t listening, let alone taking action.”
   
   Gill Furniss, Sheffield MP and Labour’s shadow minister for steel, said the industry had faced “countless” challenges and received little or no help. She sai “The time for excuses is over. The Prime Minister must act now to save the UK steel sector and prevent further job losses.”
   
   Councillor Mazher Iqbal, Cabinet Member for Business and Investment at Sheffield City Council, said “It is devastating news to hear of the job losses at Liberty Steel, which could affect many people in Sheffield. We know that falling levels of demand and the impact of Brexit have made for very challenging trading conditions but we remain optimistic that, given the skills of the retained workforce and previous investment facilities, there remains a viable and vitally important speciality steels business in Stocksbridge. The council is working alongside Liberty Steel to develop re-training and redeployment opportunities with the aim of minimising the number of compulsory redundancies needed. It’s vital the Government act now to provide all necessary support to the business and of course, the individuals concerned.”
   
   Source : Strategic Research Institute,
4. voda 10 januari 2020 16:50

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   PMI Shows Weak End to 2019 for German Manufacturing
   
   Germany's manufacturing sector ended 2019 deep in contraction, recording further marked decreases in output and employment, latest PMI® data from IHS Markit and BME showed. De-stocking remained prevalent, while the slowdown in the sector continued to translate into lower prices. More positively, however, December's decrease in new orders was the slowest in the whole of 2019 and manufacturers' output expectations showed a further, albeit marginal, improvement. The headline IHS Markit/BME Germany Manufacturing PMI, a single-figure snapshot of the performance of the manufacturing economy derived from indicators for new orders, output, employment, suppliers' delivery times and stocks of purchases, registered 43.7 in December, down slightly from November's five-month high of 44.1. The latest reading was below the average since the current period of contraction began last January. Phil Smith, Principal Economist at IHS Markit, which compiles the Germany Manufacturing PMI survey, said "Germany's manufacturing sector closed out 2019 with another weak performance and remains a thorn in the side of the economy. Falling goods production across the fourth quarter of the year bodes ill for final growth figures, while sustained cuts to workforce numbers at factories continue to pose a threat to Germany's so-far solid consumer spending. Importantly, however, the forward-looking survey measures for new orders and output expectations both give off more positive signals as we move into the new year. What's more, the US-China 'phase one’ trade deal and a potentially clearer path to Brexit make for a more settled backdrop on the international stage."
   
   KEY FINDINGS
   December sees marked falls in output and employment...
   ...but new orders post smallest drop of 2019
   Output expectations highest for 15 months
   
   The downturn persisted across all three main industrial groupings, with makers of investment goods notingthe worst performance, followed by intermediate goods producers. The consumer goods category was alone in recording a slower rate of contraction.
   
   There was downward pressure on the headline PM I from the output component in December, with the rate of decline in production accelerating for the first time in three months. Businesses that reduced their output predominantly linked this to lower volumes of new work.
   
   Data showed inflows of new business at German manufacturers falling for the fifteenth month in a row in December. Reports from panellists highlighted that demand, and particularly investment, continued to be undermined by lingering uncertainties around trade and the global economic outlook. However, the rate of decline in new orders eased for the third month in a row to the weakest since December 2018, helped by export sales posting the smallest drop since last January.
   
   Buoyed somewhat by tentative signs of stabilisation in new orders and hopes for a pickup in economic conditions in 2020, manufacturers recorded their strongest confidence for 15 months in December.
   
   Goods producers continued to make inroads into their backlogs of work and thereby maintained a preference for lower workforce numbers. The rate of stuff cuts accelerated from November and was among the quickest over the past decade.
   
   December also saw sustained de-stocking by goods producers, which they linked to not only lower output requirements, but also improving lead times on purchases. Input buying was down sharply on the month, freeing up capacity at suppliers and putting further downward pressure on prices for raw materials and components.
   
   A sharp fall in input costs, combined with strong competition for new work, led manufacturers to reduce their output charges for the sixth consecutive month in December.
   
   Source : Strategic Research Institute
5. voda 10 januari 2020 16:51

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   Schnitzer Reports First Quarter 2020 Financial Results
   
   Schnitzer Steel Industries Inc has reported results for its first quarter of fiscal 2020 ended November 30, 2019. President and Chief Executive Officer Tamara Lundgren said “During the first quarter, the scrap markets were challenged by weaker export and domestic markets and a continued structural shift in demand for certain nonferrous products. Our plans to offset these cyclical and structural challenges are well underway and include an increase in our targeted productivity improvements; a significant investment in advanced metal recovery technologies; and a continued drive to increase our total ferrous shipment volumes. These strategic initiatives can improve our through-the-cycle margins and cash flow, providing us with additional opportunities to grow and to return more capital to our shareholders.”
   
   Volumes and margins in both operating divisions were impacted by the sharp decline in ferrous selling prices during the first two months of the quarter. Ferrous selling prices reached multi-year lows in October, and supply flows tightened considerably. The rise in ferrous selling prices in November led to an easing in supply flows but contributed to margin compression against sales contracted earlier in the quarter.
   
   AMR reported an operating loss in the first quarter of USD 2 million, or USD 3 per ferrous ton, and an adjusted operating loss of USD 1 million, or USD 1 per ferrous ton. The sharp decline in average selling prices outpaced the reduction in purchase costs for raw materials and adversely impacted operating results by compressing metal spreads and generating an approximately USD 4 million, or USD 5 per ferrous ton, adverse impact from average inventory accounting. The tighter supply flows resulted in a year-over-year decrease in ferrous and nonferrous sales volumes by 10% and 14%, respectively. AMR’s operating results also included an adverse impact of USD 2 per ferrous ton from the environmental-related charge noted above.
   
   CSS achieved operating income in the first quarter of USD 4 million, in an environment of declining prices for finished steel and ferrous and nonferrous scrap. Operating results were adversely impacted by margin compression due to the decrease in average net selling prices for finished steel products, particularly wire rod, outpacing the decrease in the purchase cost of steel-making raw materials. Lower sales volumes amid customer destocking and a reduced contribution from recycling operations in the declining scrap price environment, also adversely impacted CSS’s operating results, partially offset by benefits from productivity initiatives.
   
   Source : Strategic Research Institute
6. voda 10 januari 2020 16:54

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   McNeilus Steel Expansion Gets DEED Support in Minnesota
   
   The Minnesota Department of Employment and Economic Development is giving Dodge Center USD 729,285 to help with an expansion project at McNeilus Steel. DEED says the money will go for street and utility extensions to accompany an USD 11.6 million expansion at McNeilus’ operations in Dodge Center. DEED says the expansion is expected to create 50 new jobs. Money from the Greater Minnesota Business Development Public Infrastructure Grant Program will also go to Cold Spring and Lakefield.
   
   DEED Commissioner Steve Grove said “Investments in public infrastructure are critical to the economic success of Greater Minnesota communities. These grants will help spur that economic development and will create and retain over 200 jobs in Cold Spring, Dodge Center and Lakefield.”
   
   Source : Strategic Research Institute
7. voda 10 januari 2020 16:55

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   Allegheny Technologies CEO Criticizes US Steel Tariffs
   
   Pittsburgh-based metal fabrication and manufacturing firm Allegheny Technologies Inc President and CEO Robert Wetherbee has firsthand experience with the consequences of President Donald Trump's trade policies. He wrote in The Wall Street that “Tariffs are blunt instruments and have also harmed many American companies, including my own Allegheny Technologies Inc. Our Midland Pennsylvania plant is hemorrhaging money.”
   
   He wrote “Buying American doesn't work, either, since US steel is more expensive. One domestic supplier quoted us a price for 60-inch slabs that was so high, the raw materials would have cost us more than we charge for the finished product."
   
   He said They've worked so well, , that he might have to close his doors.”
   
   Allegheny Technologies imports stainless steel slab from Indonesia and turns it into sheet metal, which it then sells to other manufacturers who incorporate it into car parts, kitchen appliances, and more. Allegheny Technologies has to pay for Trump's 25 percent tariffs on imported steel, and then have little choice but to pass on that cost increase to their customers. But that makes it difficult for a company like his to compete against foreign manufacturers who can make and sell sheet metal without having to account for an extra 25 percent import tax.
   
   Source : Strategic Research Institute
8. voda 10 januari 2020 18:56

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   'Thyssenkrupp en Salzgitter denken aan staalfusie'
   
   Gepubliceerd op 10 jan 2020 om 18:48 | Views: 13
   
   ArcelorMittal 17:35
   14,92 -0,28 (-1,84%)
   
   ESSEN (AFN) - Het Duitse industrieconcern Thyssenkrupp denkt erover om zijn staaltak met branchegenoot Salzgitter te laten fuseren. De twee Duitse bedrijven zijn daarover in gesprek, schrijft het Duitse tijdschrift der Spiegel.
   
   Topvrouw Martina Merz van Thyssenkrupp zou volgens Der Spiegel binnenkort met haar collega Heinz Jörg Fuhrmann van Salzgitter spreken. Een woordvoerder van Salzgitter ontkende echter dat er een ontmoeting gepland staat. Er gaan al langer geruchten over een fusie tussen Thyssenkrupp en Salzgitter, die eens in de zoveel tijd opduiken.
   
   Thyssenkrupp was eerder dichtbij een fusie van zijn staaltak met Tata Steel Europe. Die ging uiteindelijk niet door omdat die op mededingingsbezwaren stuitte.
9. voda 13 januari 2020 08:30

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   Onderhandelingen Ilva naderen einde - media
   
   FONDS KOERS VERSCHIL VERSCHIL % BEURS
   ArcelorMittal
   14,92 0,00 0,00 % Euronext Amsterdam
   
   (ABM FN-Dow Jones) De onderhandelingen tussen Italië en ArcelorMittal over de noodlijdende staalfabriek Ilva zullen snel afgerond worden. Dit stelde de Italiaanse premier Giuseppe Conte in een interview met de Italiaanse krant Corriere della Sera.
   
   Op de vraag of de Green Deal van de Europese Commissie ook zal bijdragen aan een financiering van de herstructurering van Ilva, antwoordde Conte dat hij er zorg voor wil dragen dat Ilva een "centrale plek" krijgt in het plan van Brussel.
   
   Verder bevestigde hij dat hij nog steeds met ArcelorMittal aan de onderhandelingstafel zit en dat deze gesprekken vermoedelijk binnenkort afgerond zullen worden. Nadat Rome eerder nog bepaalde garanties introk, probeerde ArcelorMittal de overname van Ilva ongedaan te maken.
   
   "Het doel is ambitieus, namelijk de fabriek opnieuw opstarten, terwijl banen behouden blijven en duurzame energie prioriteit heeft", aldus Conte. "We zijn vastbesloten deze crisis op te lossen, onder meer door gerichte staatsinterventie."
   
   Door: ABM Financial News.
   info@abmfn.nl
   Redactie: +31(0)20 26 28 999
   
   © Copyright ABM Financial News B.V. All rights reserved.
10. voda 13 januari 2020 12:05

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    Beursblik: afnemende winstgevendheid bij ArcelorMittal
    
    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    ArcelorMittal
    15,036 0,116 0,78 % Euronext Amsterdam
    
    (ABM FN-Dow Jones) ArcelorMittal heeft de winst in het vierde kwartaal meer dan zien halveren. Dit is de verwachting van analisten van Bank of America.
    
    Zij mikken op een EBITDA van 836 miljoen dollar, een ruime halvering op jaarbasis, en een EBITDA van 5,1 miljard dollar voor heel 2019. Daarmee zit Bank of America onder de gemiddelde winstverwachting. De consensus mikt op 5,3 miljard dollar.
    
    Overigens is de EBITDA in het vierde kwartaal vermoedelijk niet alleen een ruimte halvering op jaarbasis, maar ook 20 procent minder op kwartaalbasis.
    
    Wel voorziet Bank of America een geldelijk herstel in 2020. Betere macro-economische omstandigheden en een normalisering van de kosten, vooral bij ijzererts, dragen hieraan bij.
    
    Bank of America heeft een koopadvies op ArcelorMittal met een koersdoel van 18,00 euro. Maandag aan het einde van de ochtend handelde het aandeel ruim een half procent hoger op 15,00 euro.
    
    Door: ABM Financial News.
    info@abmfn.nl
    Redactie: +31(0)20 26 28 999
    
    © Copyright ABM Financial News B.V. All rights reserved.
12. voda 13 januari 2020 16:12

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    Thyssenkrupp and Salzgitter Merger News Resurfaces
    
    After the failed merger with the Indian steelmaker Tata under her predecessor Guido Kerkhoff, Ms Merz is looking for new strategies to lead the group with its around 160,000 employees out of the crisis. German weekly news magazine Der Spiegel reported that Thyssenkrupp is considering reviving plans for a steel merger with Salzgitter. Spiegel reported that ThyssenKrupp boss Ms Martina Merz will soon speak to the long-time Salzgitter boss Heinz Jörg Fuhrmann and appropriate options could be explored.
    
    A ThyssenKrupp spokesman said “The implementation of the steel strategy announced in December is our priority. But it is also true that we still consider consolidating the European steel industry to be advantageous.”
    
    Salzgitter however said "Ms Merz and Prof Fuhrmann knew each other personally before Ms Merz became CEO of Thyssenkrupp AG. They both met last year, which is self-evident and therefore not very spectacular."
    
    A possible merger of Thyssenkrupp and Salzgitter has been discussed several times in the past. Fuhrmann said in an interview that “He had never seen a concept for a merger with a competitor that offered advantages for both sides but of course I can't and don't want to rule out that one day there might be."
    
    In 2019, the EU Commission prohibited the long-planned merger of the ThyssenKrupp steel division with the European branch of Indian competitor Tata to protect competition.
    
    Source : Strategic Research Institute
13. voda 13 januari 2020 16:14

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    Tata Steel Announces Production and Sales Figures for Q3 and 9M
    
    Tata Steel India’s2 3QFY20 sales volume increased by 17% QoQ with improved market sentiment. Sales volume to auto segment was maintained during the quarter. Branded Product & Retail segment grew 23% QoQ while Industrial Products and Projects grew 12% QoQ. Tata Steel India’s2 production volume was flattish on QoQ basis. Tata Steel Europe’s 3QFY20 production and sales volume was flattish on QoQ basis. Tata Steel South East Asia operations registered lower production volume on QoQ basis due to continued sluggishness in Singapore and Thailand markets.
    
    Tata Steel said “During 3QFY20, weakness in GDP growth and industrial output continued across major economies affecting steel demand. However, Chinese steel demand was buoyant as despite higher steel production, exports stabilized at around 5 million tons a month. Positive developments on the US China trade talks along with step-up in China policy easing are expected to provide support to global steel demand and thus steel prices. However, escalating geopolitical tensions pose a risk. In Europe, the overall slowdown coupled with seasonal weakness kept steel spreads under pressure as declining steel prices offset the benefit of softness in raw material prices. Indian economy remained weak with declining private consumption growth and low investment growth. Domestic steel prices reached a nadir in October 2019 before improving from November onwards. Steel prices are expected to improve further with strong retail demand and ongoing restocking demand at the dealers’ ends.”
    
    Voor cijfers, zie pdf.
    
    Source : Strategic Research Institute

    Bijlage:
14. voda 13 januari 2020 16:18

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    Jingye Update on British Steel Takeover
    
    Chinese Jingye has promised to work closely with staff and unions as it finalises its purchase of British Steel in Scunthorpe. A Jingye Group spokesperson said "Jingye has held constructive discussions with union representatives during which the company outlined its ambitious investment plans for British Steel. We look forward to working together further with the unions and employees over the coming weeks, as well as continuing talks with the government and other stakeholders. We firmly believe in the opportunities at British Steel and are committed to its long-term future.”
    
    The statement from Jingye came after talks were confirmed by the National Trade Union Steel Co-ordinating Committee made up of senior officials from GMB, Unite and Community. They said “The Steel Committee and senior officials met with Jingye representatives on Thursday, who presented their strategy for British Steel which included encouraging plans for major investment in the business. However, their proposals to turnaround the business do include impacts on employment and detailed discussions will now take place to fully understand Jingye’s plans and get a deal over line. Those discussions will be ongoing over a number of days and, due to the sensitive nature of the issues on the table, we will not be providing a running commentary on developments. As we have said before, if the business is to succeed it must retain high quality jobs with good terms and conditions and this will guide our position through the ongoing talks. It cannot be just employees who are asked to make sacrifices for the success of the new business. For the company to succeed, everyone involved needs to make a contribution, including key suppliers. It’s in the interests of all stakeholders to secure British Steel and the jobs and communities that depend on its success.”
    
    Source : Strategic Research Institute
15. voda 13 januari 2020 16:24

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    US Announces New Sanctions on 17 Iranian Steel and Metal Firms
    
    US Treasury Secretary Steven Mnuchin announced that US has imposed new sanctions on Iran's steel and metals exports. He said "The President is issuing an executive order authorizing the imposition of additional sanctions against any individual owning, operating, trading with, or assisting sectors of the Iranian economy including construction, manufacturing, textiles, and mining. Those would be both primary and secondary sanctions and that the executive order allows the US to designate other sectors in the future. Additionally, the US is announcing 17 specific sanctions against Iran's largest steel and iron manufacturers, three Seychelles-based entities, and a vessel involved in the transfer of products. The sanctions on 17 entities in the steel industry and some other shipping and trading entities, including some based in the Seychelles, are designed to cut off billions of dollars to Iran. US Office of Foreign Assets Control lists some of the entities now to be sanctioned as under
    Al Mahdi Aluminum Company
    Arfa Iron & Steel Company
    Arfa Steel
    Chadormalu Mining & Industrial Co
    Esfahan Steel Company
    Golgohar Mining and Industrial Company
    Hormozgan Steel Company
    Iran Alloy Steel Company
    Iran Aluminium Company
    Iranian Ghadir Iron & Steel Co
    Iran's Aluminum Company
    Khalagh Tadbir Pars Co
    Khorasan Steel Company
    Khouzestan Oxin Steel Company
    Khouzestan Steel Company
    Kish South Kaveh Steel Company
    Mobarakeh Steel Company
    National Iranian Copper Industries Company
    Pamchel Asia Steel Group Company Limited
    Pamchel Trading Beijing Co Ltd
    Power Anchor Limited
    Reputable Trading Source LLC Company
    Saba Steel Company.
    RIAL DEVALUATION
    
    The move comes after President Donald Trump threatened new sanctions in response to the Iranian airstrikes last week targeting US military bases in Iraq.
    
    Iran's main steel producers, excluding small private sector mills, exported 5.2 million tonnes of finished and semi-finished steel in the first nine months of the current Iranian year, a 19% increase from the same period last year. Most of Iran's steel exports go to countries in East Asia and the Middle East.
    
    Source : Strategic Research Institute
16. voda 13 januari 2020 16:31

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    US DOC Initiates AD and CD Probe in Forged Steel Fluid End Blocks Imports from China, Germany, India and Italy
    
    The US Department of Commerce announced the initiation of new antidumping duty and countervailing duty investigations to determine whether forged steel fluid end blocks from Germany, India, and Italy are being dumped in the United States, and to find if producers in China, Germany, India, and Italy are receiving unfair subsidies. These antidumping and countervailing duty investigations were initiated based on petitions filed by the FEB Fair Trade Coalition; Ellwood City Forge Company, Ellwood Quality Steels Company, and Ellwood National Steel Company and A. Finkl & Sons. The alleged dumping margins are 83.37 percent for Germany, 198.85 percent for India, and 87.04 percent for Italy.
    
    There are 24 subsidy programs alleged for China, 16 subsidy programs alleged for Germany, 29 subsidy programs alleged for India, and 20 subsidy programs alleged for Italy.
    
    The petitioners estimated that imports of forged steel fluid end blocks China, Germany, India, and Italy were valued at approximately USD 17.8 million, USD 23.3 million, USD 44.4 million and USD 46.4 million, respectively, in 2018.
    
    If Commerce makes affirmative findings in these investigations, and if the US International Trade Commission determines that dumped and/or unfairly subsidized US imports of forged steel fluid end blocks from China, Germany, India, and Italy are causing injury to the US industry, Commerce will impose duties on those imports in the amount of dumping and/or unfair subsidization found to exist.
    
    During Commerce’s investigations into whether forged steel fluid end blocks from China, Germany, India, and Italy are being dumped and/or unfairly subsidized, the ITC will conduct its own investigations into whether the U.S. industry and its workforce are being harmed by such imports. The ITC will make its preliminary determinations on or before February 3, 2020. If the ITC preliminarily determines that there is injury or threat of injury, then Commerce’s investigations will continue, with the preliminary CVD determinations scheduled for March 13, 2020, and preliminary AD determinations scheduled for May 27, 2020, unless these deadlines are extended.
    
    Source : Strategic Research Institute
17. voda 13 januari 2020 16:33

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    Tata Steel Netherlands Refinances EUR 1.75 Billion of European Debt
    
    Tata Steel announced that Tata Steel Netherlands Holdings BV, a 100% subsidiary of Tata Steel Limited, has executed agreements for the refinancing of its bank debt. Tata Steel Netherlands Holding has raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019 enabling the standalone European business to have a more robust balance sheet while it is also putting in significant efforts at restructuring and improving its operating performance. These facilities have also been contracted at favorable terms and more efficient pricing, besides extending the maturity profile relative to the existing ones.
    
    Tata Steel Executive Director & Chief Financial Officer Koushik Chatterjee said "The new financing has more flexible terms and better pricing that will provide greater financial headroom to the business in the coming years. The Company was able to complete this financing despite all the volatility in the financial markets, demonstrating the strong confidence enjoyed by Tata Steel in the financial community".
    
    Source : Strategic Research Institute
18. voda 13 januari 2020 16:34

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    • voda

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    JBIC Signs USD 30 Million Loan to JSW Steel for Wire Rod Mill
    
    The Japan Bank for International Cooperation signed on January 9 an individual buyer's credit agreement amounting up to approximately USD 30 million JBIC portion, based on the export credit line established in March 2018. The loan is co-financed with Mizuho Bank Ltd, bringing the total co-financing amount to approximately USD 49 million. Nippon Export and Investment Insurance will provide insurance to cover the portion being co-financed by the public-sector financial institution. This loan is intended to provide the necessary funds for JSW Steel to purchase a complete set of facilities for a wire rod mill from Primetals Technologies USA LLC and Primetals Technologies India Private Limited, both subsidiaries of Primetals Technologies Ltd in the United Kingdom, a joint venture of Siemens AG in Germany, Mitsubishi Heavy Industries and Partners.
    
    This loan supports Japanese companies to further expand export of machinery and equipment by meeting the investment needs of JSW Steel in a timely and flexible manner, contributing to maintaining and increasing the international competitiveness of Japanese industries.
    
    Source : Strategic Research Institute
19. voda 13 januari 2020 16:35

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    • voda

      Lid sinds: 02 dec 2005

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    University of Sydney Research on Hydrogen Embrittlement in Steel
    
    University of Sydney researchers have found evidence of how hydrogen causes embrittlement of steels. When hydrogen moves into steel, it makes the metal become brittle, leading to catastrophic failures. This has been one of the major challenges in moving towards a greener, hydrogen-fueled future, where steel tanks and pipelines are essential components that must be able to survive in pure hydrogen environments. As described in a paper in Science, the researchers found that hydrogen accumulates at microstructures called dislocations and at the boundaries between the individual crystals that make up the steel. This accumulation weakens the steel along these features, leading to embrittlement. Hydrogen embrittlement of high-strength steel is an obstacle for using these steels in sustainable energy production. Hydrogen embrittlement involves hydrogen-defect interactions at multiple-length scales. However, the challenge of measuring the precise location of hydrogen atoms limits our understanding. Thermal desorption spectroscopy can identify hydrogen retention or trapping, but data cannot be easily linked to the relative contributions of different microstructural features.
    
    Researchers used cryo-transfer atom probe tomography to observe hydrogen at specific microstructural features in steels. Direct observation of hydrogen at carbon-rich dislocations and grain boundaries provides validation for embrittlement models. Hydrogen observed at an incoherent interface between niobium carbides and the surrounding steel provides direct evidence that these incoherent boundaries can act as trapping sites. This information is vital for designing embrittlement-resistant steels. The researchers also found the first direct evidence that clusters of niobium carbide within the steel trap hydrogen in such a way that it cannot readily move to the dislocations and crystal boundaries to cause embrittlement. This effect has the potential to be used to design steels that can resist embrittlement.
    
    Lead researcher Dr Yi-Sheng Chen from the Australian Centre for Microscopy and Microanalysis and Faculty of Engineering at the University of Sydney said these findings were an important step to finding a safe solution to produce, store and transport hydrogen. He said “These findings are vital for designing embrittlement-resistant steel; the carbides offer a solution to ensuring high-strength steels are not prone to early fracture and reduced toughness in the presence of hydrogen.”
    
    Senior author Professor Julie Cairney from the Australian Centre for Microscopy and Microanalysis and Faculty of Engineering at the University of Sydney said these findings were a positive step towards implementing clean fuels. She said “Hydrogen is a low carbon fuel source that could potentially replace fossil fuels. But there are challenges with the use of steel, the world's most important engineering material, to safely store and transport it. This research gives us key insights into how we might be able to improve this situation.’
    
    Working in partnership with CITIC Metal, the researchers were able directly to observe hydrogen at microstructures in steels using Microscopy Australia’s state-of-the-art custom-designed cryogenic atom probe microscope.
    
    Source : Green Car Congress

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20. voda 13 januari 2020 16:36

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    Al Delta Stee Chooses Gemco for Foundry Project
    
    Egyptian Metallurgical Industries Holding Co’s subsidiary Al Delta Steel Company has signed a contract with Dutch company Gemco Cast Metal Technology to establish a 10,000 tonnes cast iron and steel foundry with total investments of EGP 30 million. Gemco was chosen for the engineering, procurement and construction contract through a tender last October.
    
    Delta Steel Mill Company has encompassed a p plan to modernise Delta’s factories with total cost of EGP 700 million. The modernisation project also includes establishing a new infrastructure in full compliance with environmental standards and requirements as well as slashing energy consumption by about 40 percent.
    
    Source : Amwalalghad
21. voda 13 januari 2020 16:36

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    WaterLegacy and Fond du Lac Band Appeal against Minntac Permit Reversal
    
    Duluth News Tribune WaterLegacy and the Fond du Lac Band say the Court of Appeals erred by concluding drinking water standards do not apply to groundwater and, therefore, MPCA can not issue permits with conditions setting groundwater as that class of drinking water. In separate petitions filed, the MPCA, environmental group WaterLegacy and the Fond du Lac Band of Lake Superior Chippewa asked the Minnesota Supreme Court to review the Court of Appeals decision because they say it erred by concluding drinking-water standards do not apply to groundwater and, therefore, MPCA can not issue permits with conditions setting groundwater as that class of drinking water. Parties have asked the Minnesota Supreme Court to review last month’s Minnesota Court of Appeals decision that reversed a permit allowing the continued operation of US Steel’s Minntac taconite iron ore mine in Mountain Iron and set long-range goals for the company to reduce pollutants leaking out of the plant's tailings basin. The Supreme Court has 60 days to decide if it will take up the case.
    
    Last month, the Court of Appeals found the MPCA failed in its interpretation of state water-quality rules and that the MPCA's decision on Minntac's tailings discharge was unsupported. The MPCA said the court significantly departed from accepted and usual rules of regulatory interpretation and now 81 active permits are called into question.
    
    The water pollution discharge permit was issued by the MPCA in late 2018, the first for Minntac since 1987. That 1987 permit had been up for reissuance since 1992, but was administratively extended since then. The five-year permit issued in 2018 had set long-range goals for US Steel to meet for reducing pollutants, like sulfates, that are leaking out of the site’s 8,000 acre tailings basin, where a wet slurry of mine waste left over after taconite pellets are processed resides, into nearby surface and groundwater.
    
    Source : Duluth News Tribune