Nieuws en info hier plaatsen (deel 4)

1. voda 14 januari 2020 14:31

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   Salzgitter verlaagt winstverwachting
   
   FONDS KOERS VERSCHIL VERSCHIL % BEURS
   Salzgitter AG
   17,59 -0,80 -4,35 % Frankfurter Wertpapierbörse (Xetra)
   
   (ABM FN-Dow Jones) Salzgitter heeft de outlook voor 2019 naar beneden bijgesteld als gevolg van enkele afschrijvingen. Dit maakte het Duitse staalbedrijf dinsdag bekend.
   
   In totaal gaat het om eenmalige papieren afschrijvingen ter waarde van bijna 200 miljoen euro die samenhangen met verwachte impact van de huidige economische en politieke omstandigheden op de winst van de staalreus. Door de meer behoudende aannames zal de winst in de toekomst jaarlijks met ongeveer 25 miljoen euro hoger uitvallen.
   
   Ook wordt een voorziening genomen voor een mededingingskwestie en worden er reorganisatiekosten in de boeken opgenomen.
   
   Voor 2019 voorziet Salzgitter nu een verlies voor belastingen van 250 miljoen tot 280 miljoen euro. Voorheen rekende Salzgitter slechts op een verlies van zo’n 50 miljoen euro.
   
   Door: ABM Financial News.
   info@abmfn.nl
   Redactie: +31(0)20 26 28 999
   
   © Copyright ABM Financial News B.V. All rights reserved.
2. voda 14 januari 2020 16:13

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   CISA Forecasts Steel Oversupply in China in 2020
   
   China’s steel output in 2020 is expected to maintain the same robust growth that it had in 2019. China Iron and Steel Association has warned of a possible reemergence of oversupply in the Chinese domestic market as it expects growth in demand won’t keep up with supply this year. CISA said “China’s total output for crude steel in 2020 will grow at a rate similar to last year’s 6%, even as growth in demand will slow sharply to 2%, amounting to 890 million tonnes. Demand will soften this year primarily because of a slowdown in the growth of investment and new construction in the real estate industry. The slowdown will be sharp enough to offset the expected steady growth this year in infrastructure investment and the home appliance industry.”
   
   CISA said “In addition, the international steel market isn’t in any shape to absorb China’s surplus steel production due to the China US trade war.’
   
   Chinese steel output was around 980 million tonnes in 2019, while demand grew at similar rate to 875 million tonnes for the year. Last year, demand for steel maintained solid growth thanks to support from the real estate industry and infrastructure investment.
   
   Source : Strategic Research Institute
3. voda 14 januari 2020 16:14

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   Budget 2020 - Steel Mills Urge for Zero Import Duty on Coking Coal
   
   Indian steel producers have called for slashing import duties on critical ingredients such as pet coke, coking coal, anthracite coal and metallurgical coke. The country's steelmakers had substantive dependence on imports for these raw materials owing to lack of ample domestic resources. A steel mill official told Business Standard “Anthracite coal, coking coal, coke and pet coke are vital ingredients in steel making. Slashing import duties on these imported raw materials will help the steel industry to achieve and sustain cost competitiveness. Non-availability of these inputs both in quantity and quality is impeding the growth of the domestic steel industry.”
   
   As per the existing duty structure, both coking coal and anthracite coal attract 2.5 per cent import duty. The government of India levies 10 per cent duty on pet coke imports whereas anthracite coal imports are taxed at 2.5 per cent.
   
   Source : Business Standard
4. voda 14 januari 2020 16:14

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   NCLAT Seeks ED Response on JSW Steel Liability in BPSL Case
   
   The National Company Law Appellate Tribunal has directed the Enforcement Directorate and Serious Fraud Investigation Office to verify if JSW Steel Ltd is protected from Bhushan Steel and Power Ltd’s past criminal liabilities. It has also directed the agencies to file an affidavit to confirm whether JSW Steel would be covered under the newly added section 32A of the Insolvency Code and provide reasons if no such immunity are granted. The appellate tribunal has directed the parties concerned to file replies by January 20 and will hear the matter on January 23.
   
   That comes after the Enforcement Directorate filed a case of money laundering against Bhushan Power and Steel, its promoters and former directors in May 2019. The Central Bureau of Investigation had filed a first information report against the company and some of its erstwhile directors. Four months later, JSW Steel sought immunity from the power producer’s criminal liabilities, contending that the absence of any such protection jeopardised the feasibility and viability of its resolution plan. While the tribunal approved JSW Steel’s resolution plan for Bhushan Power, it refused to grant any immunity from ongoing criminal investigations.
   
   Source : Strategic Research Institute
5. voda 14 januari 2020 16:16

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   HC to Hear ED Plea for Modifying Order in Bhushan Steel PMLA Case
   
   The Enforcement Directorate has approached the Delhi High Court seeking to modify its interim order asking it not to take any coercive action against Bhushan Steel ex-promoter Mr Neeraj Singal against whom summons were issued in a money laundering case.ED in its application said the court on December 18, 2019 had restrained the ED from taking coercive steps which essentially include a direction in the nature of an anticipatory bail to not arrest Mr Singal. The plea has been listed for hearing on Tuesday before a bench of Chief Justice D N Patel and Justice C Hari Shankar.
   
   The plea, filed through Central government standing counsel Mr Amit Mahajan, has sought vacation of the interim protection granted to Mr Singal.
   
   The ED had issued summons to Singal in the money laundering case registered in connection with alleged siphoning of funds worth over Rs 2,000 crore.
   
   Source : Strategic Research Institute
6. voda 14 januari 2020 16:16

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   Execution of NMDC Mining Lease Deed of Baildaila Mines in Chhattisgarh
   
   NMDC Limited has executed and registered four of its Iron ore mining leases in Bailadila region of Dantewada district of Chhattisgarh namely Deposit-5, 10, 14 and 14 NMZ. These leases are executed for a period of 20 years from 2015 to the year 2035 with a combined capacity of 29 MTPA. The Mining Lease areas for deposit-5, 10, 14 and 14 NMZ are 540.05 Ha, 309.34 Ha, 322.36 Ha and 506.74 Ha respectively.
   
   The Mining Lease deed execution was completed on 10.01.2020 and the registration formalities were completed on 13.01.2020.
   
   Source : Strategic Research Institute
7. voda 14 januari 2020 16:18

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   NMDC CMD Denies Disinvestment Rumours
   
   PTI reported that NMDC has informed the steel ministry about the confusion being created that the state-owned miner is being disinvested. NMDC Chairman Mr N Brijendra Kumar tweeted "Still confusion is being created by some ppl regarding disinvestment in #NINL, a joint venture company of central and state PSUs in the State of Odhisha. The present decision is not for the disinvestment of @nmdclimited. I repeat No Disinvestment of #NMDC by the present decision.”
   
   He also clarified that NMDC itself is just a stakeholder in Neelachal Ispat Nigam Ltd
   
   He also said people must read the government's decision with regard to NINL and understand that the decision is not related to divestment of NMDC.
   
   Last week, the government gave in-principle approval for strategic sale of NINL by allowing PSU shareholders to sell their stake in the steel company. MMTC holds 49.78 per cent share in NINL, followed by OMC 20.47 per cent, IPICOL 12 per cent, NMDC 10.10 per cent. MECON and BHEL hold 0.68 per cent stake each in the company. The strategic buyer for NINL will be identified through a two-stage auction procedure, an official statement had said.
   
   Source : Strategic Research Institute
8. voda 14 januari 2020 16:18

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   Budget 2020 – ISSDA Wish List for Indian Stainless Sector
   
   Indian Stainless Steel Development Association New Delhi has sought nil duty on import ferro-nickel and stainless-steel scrap. The association has further suggested a simultaneous imposition of 12.5% custom duty on stainless steel flat product imports in order to bring it at par with carbon steel. ISSDA has also sought abolition of 7.5% import duty on graphite electrodes. On the other hand, the association has suggested that a minimum export duty of 20% should be imposed on graphite electrodes.
   
   ISSDA President Mr KK Pahuja said “At a time when the government is assessing its trade relations with other countries and trade blocks, it is also necessary to boost domestic manufacturing by reducing high input costs. The Indian stainless steel industry has reached an inflection point where support from the government, for availability of raw materials at zero duty, will help preserve its competitiveness. We urge the government to not see the duty on raw materials as a revenue source; rather, consider the larger vision of higher manufacturing growth resulting in job creation, a push for the ‘Make in India’ drive, and contribution towards the USD 5 trillion Indian economy target by 2024.”
   
   Source : Strategic Research Institute
9. voda 14 januari 2020 16:19

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   SAIL Introduces 3 Year Sabbatical Leave Scheme
   
   Financial Express reported that Steel Authority of India Limited has introduced a scheme for sabbatical leave for all its regular employees who have completed 10 years in the company, primarily aimed at cost-cutting. During the course of the sabbatical leave, which can be for a maximum of three years, executives opting for the scheme will not get any salary or perks other than medical benefits for the employee and her family; while those working at the plants and already having company provided accommodations will be entitled to retain them and avail medical benefits. As per FE report, the company, however, is hard selling the scheme to its eligible employees as an opportunity to hone up skills, write books or compose music, discharge familial and social obligations, pursue hobbies and entrepreneurial ventures, among others. They will also be able to take up any overseas assignment. But, the employee would not be allowed to join any of SAIL joint ventures or subsidiaries. The employee will also not be allowed to have any business dealing with SAIL or its joint ventures or subsidiaries, individually or as an employee of another firm.
   
   The chairman of the company reserves the right to extent or limit the period of operation of the scheme or to withdraw and re-introduce the scheme.
   
   A scheme for sabbatical leave, similar to the present one launched in December, was in force at SAIL between 1999 and 2004, but only 130 employees had opted for it, forcing the management to terminate the clumsy, less remunerative process. The present scheme comes with no time-frame.
   
   For a steel company having around 18-20 million tonne capacity, SAIL has three to four times more regular employees than its peers in private sector. As on January 1, SAIL had 72,246 employees.
   
   Source : Financial Express
10. voda 14 januari 2020 16:20

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    KPS Capital Partners to Acquire IKG from Harsco Corporation
    
    KPS Capital Partners LP announced that it has signed a definitive agreement to purchase the IKG business from Harsco Corporation for total consideration of USD 85 million, subject to customary closing adjustments. Upon completion of the transaction, IKG will become the second portfolio company of KPS Special Situations Mid-Cap Fund. IKG is a leading North American manufacturer of high-quality steel and aluminum bar grating. The company offers a full range of metal bar grating and fencing products, which are used primarily in industrial flooring, safety and security applications across a wide range of industries. IKG is headquartered in Houston in Texas, with six strategically located manufacturing facilities across the US and Mexico and 350 employees globally.
    
    KPS Mid-Cap Partner Mr Ryan Harrison said “We thank Harsco for their constructive approach on this transaction and look forward to working with Chief Executive Officer Chad McClendon, and IKG’s management team and employees to build on this great platform. Given IKG’s demonstrated strengths, the addition of KPS’ strategic, operational and financial resources will create an ideal foundation for IKG’s future success as an independent company. We intend to drive the Company’s growth both organically and through strategic acquisitions.”
    
    Completion of the transaction is expected early in 2020 and is subject to customary closing conditions and approvals.
    
    Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS.
    
    Source : Strategic Research Institute
12. voda 14 januari 2020 16:21

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    ArcelorMittal s Burns Harbor Denies Manipulating Test Data after Spill
    
    Indiana based ArcelorMittal s Burns Harbor has denied Indiana Department of Environmental Management allegations of manipulating results from toxic readings required after a chemical spill killed more than 3,000 fish last year. Spokesman Bill Steers said “ArcelorMittal Burns Harbor does not manipulate data. We use certified, independent laboratories to analyze samples and we report the data, including any corrected data, from the labs to the regulatory agencies consistent with industry and laboratory standards. Mill has been in compliance with cyanide and ammonia limits “every day since the August 2019 event concluded.”
    
    Indiana Department of Environmental Management had said that ArcelorMittal's steel plant in Burns Harbor is redoing daily ammonia and cyanide tests and sending the lower score to regulators. IDEM Northwest Regional Office Deputy Director Rick Massoels wrote in a letter to ArcelorMittal that “The agency cannot feel confident in the reports. The company's attempt to redo daily ammonia and cyanide tests undermines the integrity of its self-disclosures, questioning its ability to police itself. ArcelorMittal's self-monitoring program is either capable of generating valid results based upon one analysis of a given sample or it is not.”
    
    Source : Strategic Research Institute

    Bijlage:
13. voda 14 januari 2020 16:21

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    GMS Market Commentary in Week 02 - Exuberance Maintains
    
    The exuberance displayed during the final few weeks of 2019 and the onset of 2020 has showed no signs of abating, with several increasingly impressive sales taking place at ever increasing numbers. Demand and sentiments remain positively positioned in all markets, as local steel plate prices have gained ground - most notably in India, where levels have shot up by nearly USD 40/Ton in a matter of a few weeks. For perhaps the first time since the onset of 2019, India has positioned itself ahead of Bangladesh in the weekly rankings, with subcontinent competitors struggling to compete on container vessels that are beginning to see prices well in excess of USD 400/LDT from India once again.
    
    Bangladesh remains the go to location for the largest LDT units on offer and several VLOCs have been sold to Chattogram buyers over the past few weeks. However, capable and performing End Buyers are starting to dwindle in Bangladesh, with banks becoming tougher on L/C opening limits – especially on the larger LDT units.
    
    Whilst increased enquiries and an eagerness to buy is emerging from Pakistan as well, there have been very few concrete results (in terms of confirmed sales) and even with a Capesize bulker sold basis an India – Pakistan range delivery this week, it would not be surprising to see this unit end up in Alang due to the continued nervousness and lack of confidence to acquire units, especially after the Gadani market spending nearly two years on the sidelines.
    
    Finally, the Turkish market continues its treacherous trek through its ship recycling timeline with little to show this week again, other than a couple of previously concluded large LDT units arriving locally this week.
    
    Source : Strategic Research Institute
14. voda 14 januari 2020 16:23

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    6 Workers Hurt in Accident at Jayaraj Steel Company
    
    ToI reported that 6 workers suffered burns in a blast at Jayaraj Steel Company at Subhash Nagar in Jeedimetla industrial area in Hyderabad. Two of the injured are in a critical condition. The mishap occurred at the furnace when melted iron leaked and fell in water surrounding it, triggering an explosion of steam. At that time, six workers were trying to fix a crane at the factory. “As the workers were standing 20 feet above the furnace, they directly came in contact with the steam and sustained burns
    
    Jai Raj Ispat Limited started operations in the year 1984. It manufactures sponge iron, billets & TMT steel rebars for construction.
    
    Source : Strategic Research Institute
15. voda 14 januari 2020 16:23

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    Moody's affirms POSCO's Baa1 ratings and assigns Baa1 to proposed notes; outlook stable
    
    Moody's Investors Service has affirmed POSCO's Baa1 issuer and senior unsecured ratings. At the same time, Moody's has assigned a Baa1 rating to the proposed senior unsecured USD and EUR notes to be issued by POSCO. The rating outlook remains stable. Proceeds from the notes will be used by POSCO to refinance its existing indebtedness, for capital expenditure and other general corporate purposes.
    
    Moody's Analyst Sean Hwang said "The affirmation of POSCO's ratings reflects our view that POSCO's large, growing cash holdings and healthy cash flow will offset its higher gross leverage over the next 12-18 months, and support the company's credit quality.’
    
    Source : Strategic Research Institute
16. voda 14 januari 2020 16:42

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    7 Hurt in Explosion at at SKK Steel Corp in Pampanga in Philippines
    
    GMA News reported thata n explosion at SKK Steel Corp steel plant in San Simon in Pampanga in Philippines on Saturday night left seven people with injuries. The blast occurred at about 11:30 PM at the site. A leaking oxygen cylinder is thought to have been the source of the explosion, coverage by the Philippine Star said. The injured persons were transported to an area hospital to receive treatment for burns.
    
    Personnel from the San Simon Bureau of Fire Protection are investigating the explosion.
    
    SKK is the major business partner of JFE Steel in Japan which specialized in importing and selling seamless steel pipes. SKK Steel mainly handles seamless alloy steel pipes.
    
    Source : Strategic Research Institute
17. voda 15 januari 2020 16:09

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    Tata Steel Netherland Postpones Lay Offs
    
    Dutch newpaper Telegraaf reported that despite announced layoffs, employment at Tata Steel Nederland in IJmuiden will be guaranteed until October 2021. The management of Tata Steel Nederland wrote in a letter to trade union FNV said that it will adhere to previously made agreements with the trade unions, but added that eventual layoffs are inevitable. The letter said "The management confirms that both FNV and the management have signed the employment pact and that we have both committed ourselves to it. The pact is then also the guideline for the development of the improvement program of Tata Steel Nederland. It goes without saying that we will both adhere to the pac.”
    
    The management added, however, that it is inevitable that jobs will disappear, because steel production, margins, and the earnings model are al under great pressure.
    
    Agreements previously made with the trade unions mean that no layoffs are possible in the Netherlands until at least October 2021.
    
    In November, after months of speculation, Tata Steel confirmed that the group was cutting 1,600 jobs in the Netherlands, and another 1,400 jobs in the rest of Europe.
    
    Source : Strategic Research Institute
18. voda 15 januari 2020 16:09

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    Delhi HC Lists Bhushan Steel Matter on January 21
    
    The Delhi High Court would hear ED's plea seeking modification of its interim order not to take any coercive action against Bhushan Steel ex-promoter Mr Neeraj Singal in view of summons issued to him in a money laundering case next week. A bench of Chief Justice D N Patel and Justice C Hari Shankar listed the application for hearing on January 21 after Singal's counsel sought another date.
    
    The Enforcement Directorate's application said the court on December 18, 2019 had restrained it from taking coercive steps which essentially include a direction in the nature of an anticipatory bail to not arrest Singal".
    
    The plea, filed through central government standing counsel Amit Mahajan, has sought vacation of the interim protection granted to Singal, represented through advocate Arshdeep Singh.
    
    Source : Strategic Research Institute
19. voda 15 januari 2020 16:10

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    Jindal Stainless Issues FAC to Primetals Technologies for Level-2-Process Automation on AOD Converter
    
    Jindal Stainless Ltd issued the final acceptance certificate for the new level-2-process automation on AOD converter #1 to Primetals Technologies in April 2019. The AOD converter was equipped with a level-1-system and brought into operation by a third party in 2010. Jindal Stainless Ltd. subsequently developed its own solution to optimize the implemented level-2-system. This has now been replaced by a new, comprehensive level-2-system from Primetals Technologies that includes a dynamic process model. After running the old and new systems in parallel, the hot commissioning of the new level-2-system from Primetals Technologies was successfully completed in just two weeks. Process stability has been substantially increased, and accuracy for the calculation of the development of carbon and temperature in real time during production has been improved. Furthermore, the system offers greater insights and a better overview of the production process.
    
    After a number of years of operation, Jindal Stainless Ltd decided to modernize the level-2-system it had developed for AOD converter #1 at its steel works in Jajpur, Odisha. The AOD converter was brought into operation with a level-1-system by a third party in 2010. The level-2-system for AOD converters from Primetals Technologies offers a large number of interfaces as standard. These were adapted to the existing IT environment at Jindal Stainless Ltd prior to commissioning.
    
    During the commissioning and integration of the level-2-system into the plant, several optimization measures were carried out on the existing level-1-system to enable Jindal Stainless Ltd. to enjoy efficient, trouble-free operation.
    
    The heart of level 2 process automation is the dynamic process model, which allows both advance calculation and online simulation of the process. Calculating the melts in advance enables errors to be avoided, because the input materials are prepared in good time. The dynamic process model is based on dozens of metallurgical equations, which use a cyclic online calculation to calculate the chemical reaction in the AOD converter both currently in real time and at a point in the future. The precise, real-time calculation of the development the temperature and carbon during production improves both process accuracy and the quality of the stainless steel produced.
    
    One of the important advantages of the modernization of the level 2 process automation of the AOD converter is that all significant process data is collected by the digital twin from Primetals Technologies, which creates a valuable knowledge database for use in future optimizations and new developments. This digitalizes the know-how of many experts at Jindal Stainless Ltd., and this digitalized knowledge is now equally available to all levels, thus making a major contribution toward maintaining the stainless steel produced by Jindal Stainless Ltd. at a consistently high quality.
    
    Source : Strategic Research Institute
20. voda 15 januari 2020 16:11

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    Tussle Brewing over Third Party Cargo Handling at Hazira Port
    
    Times of India last week reported that Ruias of Essar Group and Mr LN Mittal of ArcelorMittal have locked horns for wresting control of the captive port at the steel plant facility at Hazira. Sources said Essar wants to handle third party cargo according to the state’s new port policy for the two captive jetties in Hazira that are owned by Essar Bulk Terminal but ArcelorMittal has opposed the move
    
    Gujarat’s maritime regulator Gujarat Maritime Board signed a supplementary agreement on December 13, 2019 with the promoters of Essar Group, who own 74% in EBTL, allowing them to handle third-party cargo without any quantitative restriction. The GMB decision, however, has been put in abeyance by the state government after ArcelorMittal protested the decision on December 17
    
    In October 2019, the GMB introduced the new port policy with to unlock value in existing port infrastructure by allowing existing captive jetty holders to handle thirdparty cargo and opportunity for new players. The new policy grants exiting captive jetty holders the option to either opt-in or opt-out of the said policy framework. If an existing captive jetty holder opts in, then they are required to enter supplementary agreement with GMB.
    
    Source : ToI
21. voda 15 januari 2020 16:11

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    Chengde Jianlong Orders Bloom Caster from Danieli
    
    Chengde Jianlong contracted Danieli to supply a five-strand bloom caster to be installed at their Chengde plant in Hebei Province in China. The new, five-strand 12-m radius caster, designed to cast 240-mm squares and 210- and 400-mm rounds in SBQ grades, will make use of Danieli Q-EMS technology to ensure top quality blooms on all grades. Through the Liquid Pool Control system supplied by Danieli Automation along with the process control system, the caster will be able to automatically position the final stirrer along the radius, while regulating current/frequency for the highest internal quality.
    
    This is going to be the second Danieli caster for long products at that location; a CCM for large rounds was installed by Danieli in late 2011.
    
    Source : Strategic Research Institute