Nieuws en info hier plaatsen (deel 4)

1. [verwijderd] 29 juli 2015 12:03

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   Goed nieuws in India's automotive markt?
   
   GM to invest $1 billion in India, double market share by 2020
   
   www.investing.com/news/stock-market-n...,-double-market-share-by-2020-353422
2. [verwijderd] 29 juli 2015 15:23

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3. voda 29 juli 2015 17:09

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   Ilva steel plant gets a life line
   
   AFP reported that Prime Minister Matteo Renzi won backing in parliament on Thursday to keep open the scandal-hit Ilva steel plant against the will of local magistrates in southern Italy who say it is unsafe.
   
   The Chamber of Deputies voted in a confidence vote by 355 to 188 in favour of the bill, which would block an order by magistrates to shut down a furnace after a worker died there. That would have left the factory with only one functioning furnace out of five.
   
   Having passed the confidence vote, on which in theory the survival of the government hinged, the bill is highly likely to be approved when the lower house holds a formal vote, expected on Friday. From there it will move to the Senate (upper house) for a reading.
   
   The Ilva steelworks in the city of Taranto has Europe's largest output capacity at 11 million tonnes. It is producing much less than that after being put under special administration in 2013 and is losing tens of millions of euros a month.
   
   Source : AFP
   

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4. voda 29 juli 2015 17:10

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   US weekly raw steel production in Week 30
   
   In the week ending July 25, 2015, US’s domestic raw steel production was 1,740,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,914,000 net tons in the week ending July 25, 2014 while the capability utilization then was 79.6 percent. The current week production represents a 9.1 percent decrease from the same period in the previous year. Production for the week ending July 25, 2015 is down 0.7 percent from the previous week ending July 18, 2015 when production was 1,753,000 net tons and the rate of capability utilization was 73.3 percent.
   
   Source : Strategic Research Institute
5. voda 29 juli 2015 17:11

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   Indian steel industry is facing a lot of hurdles - JSW
   
   The Hindu Business Line reported that JSW Steel chairman Mr Sajjan Jindal has said that the Indian steel industry faces constraints such as ease of doing business, land acquisition, environmental clearance and availability of finance at competitive prices.
   
   Speaking at the company’s AGM on Tuesday, Mr Jindal said that “The unprecedented growth in steel imports in hurting the domestic industry. The outlook for the domestic steel industry remains robust and the prospect of capital investments are bright, subject to, however, the timely intervention by policy makers.”
   
   He said “The sharp surge in steel imports from China and other countries that have signed the Free Trade Agreement with India is hurting the prospects of Indian companies.”
   
   He added “While cheap imports may benefit user industries in the short term, reliance on imported steel cannot be a sustainable business strategy.”
   
   He also said “Though outlook of the domestic steel industry remains robust, it requires intervention of policy makers to remove constraints such as ease of doing business, land acquisition, environmental clearances, resource allocation, availability of finance at competitive rates and infrastructure bottlenecks.”
   
   For Indian players, Mr Jindal said, the challenges were — sluggish domestic demand due to delay in revival of investment cycle and infrastructure spending, domestic iron ore supply being priced higher than seaborne markets, dumping of steel into India by steel-surplus countries like China, Russia, Japan and Korea, and finally, a stable rupee wiping out India’s competitiveness in the export market.
   
   Source : The Hindu Business Line
   
6. voda 29 juli 2015 17:12

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   Punjab National Bank may take over steelmakers to recover debt
   
   Reuters reported that India's fourth-largest state lender by assets could take control of some of the country's most heavily indebted steel companies and sell them on as part of a restructuring backed by New Delhi. Punjab National Bank, a quarter of whose nearly $4 billion portfolio of steel loans is stressed, is considering taking charge of some companies over the next two years, changing their management and then selling stakes
   
   The bank is also talking to its lending partners about carrying out debt-for-equity swaps, which would dilute the stakes of existing shareholders and give creditors majority ownership, but nothing has been finalised.
   
   Executive Director Mr KV Brahmaji Rao said “We are getting feelers from some local investors who are interested to buy stakes in these companies.”
   
   The issue has a broad significance in India, since banks, fearing more loans could go sour, have slowed financing to roads, ports and mining projects, strangling Prime Minister Narendra Modi's efforts to revive the economy.
   
   Source : Reuters
   
7. voda 29 juli 2015 17:13

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   Update on Tata Steel Scunthorpe sale to Mr Klesch
   
   Scunthorpe Telegraph reported that American billionaire Mr Gary Klesch, who is bidding to buy the Scunthorpe Tata Steelworks, has not completed the sale with the Indian owners within the original timescale. On October 15 last year, the Klesch Group and Tata Steel said in a joint statement: "Both parties have now entered a period of exclusive detailed due diligence with the objective of completing the transaction in the first half of 2015."
   
   Mr Klesch's London office declined to comment on the delay in the due diligence process.
   
   But last week Tata Steel insisted talks with the Swiss-based global industrial commodities business were continuing.
   
   Meanwhile, the 4,000 employees on the Scunthorpe works are awaiting details of their transfers of employment to a new standalone business.
   
   The new business called Tata Steel Long Steels UK is expected to be launched on August 2. At this stage it has not been made public who will run the business and where it will be located.
   
   A company spokesman said the switch-over was a long and complicated process and details would be revealed initially to the workforce globally. But the company has revealed the standalone business will also incorporate Tata Steel Distribution. Both teams are said to have been working more closely together to improve customer service.
   
   The Scunthorpe site director Jon Bolton told the works newspaper Insite "As we move to becoming a standalone business we need to continue to work more closely with our colleagues in Tata Steel Distribution."
   
   Source : Scunthorpe Telegraph
   
8. voda 29 juli 2015 17:14

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   Salzgitter posts profit for H1 of 2015
   
   German steel firm Salzgitter has reported that its pre-tax profit for the first half of the financial year 2015 was EUR 80.2 million, compared to a loss of EUR 4.2 million euros in the first half of 2014.
   
   The profit contains an anticipated roughly EUR 15 million positive contribution from the Aurubis investment (first half of 2014: EUR +39.2 million) as well as a total of EUR 33.0 million in expenses for streamlining measures.
   
   External sales were EUR 4.53 billion, compared to EUR 4.55 billion last year.
   
   Due to the resultant negative impact on earnings, our guidance for the full year remains unchanged for a consolidated pre-tax result in the lower to mid double-digit million euro range.
   
   The company noted that further details on the financial statements for the first half of the year will be published as planned on August 13, 2015.
   
   Source : Strategic Research Institute
9. voda 29 juli 2015 17:15

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   AK Steel reports financial results for Q2
   
   AK Steel has reported its financial results for the second quarter of 2015.
   
   2nd Quarter 2015 Performance Summary
   Shipments of 1,811,700 tons
   Sales of $1.69 billion with an average selling price of $931 per ton
   Net loss of $64.0 million, or $0.36 per diluted share
   Adjusted EBITDA of $47.6 million
   Liquidity of approximately $800 million
   
   AK Steel reported a net loss of $64.0 million, or $0.36 per diluted share of common stock, for the second quarter of 2015, compared to a net loss of $17.1 million, or $0.13 per diluted share, for the second quarter of 2014 and a net loss of $306.3 million, or $1.72 per diluted share, for the first quarter of 2015. The company reported adjusted EBITDA (as defined in the "Non-GAAP Financial Measures" section below) of $47.6 million, or $26 per ton, for the second quarter of 2015 compared to adjusted EBITDA of $64.5 million, or $46 per ton, for the year-ago second quarter and adjusted EBITDA of $57.5 million, or $33 per ton, for the first quarter of 2015.
   
   Mr James L Wainscott, Chairman, President and CEO of AK Steel said “Continued strength in the automotive market contributed to an overall increase in automotive market and total shipments quarter-over-quarter for the company. Unfortunately, however, continued high levels of what we believe are unfairly traded imports significantly impacted selling prices in the carbon steel spot market, which negatively impacted the company's results."
   
   Net sales for the second quarter of 2015 were $1.69 billion on shipments of 1,811,700 tons, compared to net sales of $1.53 billion on shipments of 1,397,500 tons for the year-ago second quarter and net sales of $1.75 billion on shipments of 1,750,500 tons for the first quarter of 2015. The company's shipments in the second quarter of 2015 were higher than the first quarter of 2015, primarily as a result of increased shipments to the carbon spot market and continued strength in the automotive market. The increase in shipments and sales for the second quarter of 2015 compared to the year-ago period was due principally to the addition of shipments from Dearborn Works (acquired in September of 2014) and continued strong shipments of carbon and stainless products to the automotive market.
   
   The company said that its average selling price for the second quarter of 2015 was $931 per ton, down 7% from the first quarter of 2015. The decrease in average selling price is primarily attributable to a less rich value-added product mix consisting of a higher percentage of shipments to the carbon spot market in relation to total shipments for the quarter. Carbon spot market selling prices declined throughout the first-half of 2015 before recovering slightly toward the end of the second quarter. AK Steel believes the substantial decline in carbon spot market selling prices is primarily the result of increased imports of lower priced foreign steel. The lower carbon spot market selling prices, combined with the higher proportion of hot-rolled shipments following the Dearborn Works acquisition, were the primary factors resulting in a 15% decline in the company's average selling price for the second quarter of 2015 compared to the second quarter of 2014.
   
   Cost of products sold decreased in the second quarter of 2015 compared to the first quarter of 2015 due to lower costs for carbon scrap, iron ore pellets and energy. Although costs for key inputs were lower in the second quarter of 2015 than in the second quarter of 2014, cost of products sold was higher in the 2015 quarter due to the higher overall sales volume in 2015 reflecting the acquisition of Dearborn Works. The company incurred $18.2 million of costs for planned outages during the second quarter of 2015, compared to $2.5 million in the year-ago second quarter and $13.6 million in the first quarter of 2015.
   
   Source : Strategic Research Institute
10. voda 29 juli 2015 17:15

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    E&Y sees Indian steel consumption growing at 7%
    
    Economic Times reported that according to E&Ys 'Global Steel 2015-16', a report that analyses the global steel sector, India's steel consumption is expected to grow by 7 per cent in FY16 on the back of higher economic activity against a 2 per cent growth in consumption last year,
    
    At the same time steel supply is expected to increase by around 10 per cent in FY16, though demand is not expected to grow in tandem. As a result, capacity utilization may fall below 78 per cent, the report said. To add to steel industry woes, the trend of rising steel imports into India is expected to continue in FY16 adding to the overall situation where imports had shown an increase of 71 per cent year on year in FY15. However, the quantum of imports may vary depending upon whether India raises its import duty on steel products. In the 12th Five Year Plan, the Indian government intends to invest about S 1 trillion in the infrastructure sector. This increased focus on infrastructure development bodes well for incremental steel demand in India, the E&Y report said.
    
    Steelmakers around the world will have to find the right balance between globalization and customization, the report said. Anjani Agarwal, E&Vs Global Steel Leader said "Globalization is forcing change on steelmaking companies worldwide, amidst their need to customise and they must achieve the fine balance to survive and succeed." For this the sector will have to undergo significant change to create and retain value and turn profitable. It noted four key areas of transformation for steel companies around the world -Rationalise excess capacity, Increase market and product concentration, Boost Market Competitiveness and Embrace Digital. The latter would be in the form of predictive analytics, digital supply chain and convergence of n and operational technology to develop differentiation and improve decision making and resilience to risk.
    
    The report also said that given price volatility in raw materials, steelmakers are changing their strategies around fixing steel product prices. "Most companies have been reviewing product prices either on monthly or fortnightly basis but now companies are thinking of reviewing it daily.
    
    Source : Economic Times
    
12. voda 29 juli 2015 17:16

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    Credit Suisse sees extraordinary levels of China steel exports
    
    Chicago Tribune reported that Credit Suisse said that steel exports from China have increased to extraordinary levels as demand in the world's largest producer slows and as export growth continues trade frictions could escalate as overseas sales from China rose to 52.4 million tonnes in the first half, in line with Japan's total crude-steel production of 52.6 million tonnes for the period
    
    Credit Suisse analyst Shinya Yamada said in a report “Mills in China confronting slower domestic demand for the first time in a generation are boosting exports, increasing competition in markets across Asia, Europe and the US. Chinese steelmakers are the linchpin of the global industry, accounting for about half of production.”
    
    He wrote "Chinese steel exports have attained near parity with Japan's total output in the first six months of 2015. Considering Japan's crude-steel output is second only to China's, this implies that Chinese exports have risen to extraordinary levels."
    
    The unprecedented surge in imports is hurting the producers in other countries. There are increasing signs mills outside China may be pushing back.
    
    There were eight trade probes on Chinese steel products in the first half, while a further five were added in July, according the China Iron & Steel Association. Trade conflicts hurt China's reputation in the global market and the interests of Chinese steelmakers, the group said in a statement on its website that confirmed local consumption was shrinking.
    
    Source : Chicago Tribune
    
13. voda 29 juli 2015 17:18

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    US Steel loss widens o USD 261 million in Q2
    
    United States Steel Corporation reported a second quarter 2015 net loss of USD 261 million, which included a USD 136 million non cash write down of retained interest in US Steel Canada and a net loss of USD 10 million related to non-cash restructuring and other charges. This compared to a second quarter 2014 net loss of USD 18 million and a first quarter 2015 net loss of USD 75 million
    
    US Steel President and Chief Executive Officer Mr Mario Longhi said "We've taken aggressive and decisive actions to address the extremely challenging conditions we continue to face in North America. Our Carnegie Way efforts, combined with short-term cost improvements, have helped to partially offset the continued depressed volumes and low prices in both the tubular and flat-rolled markets as well as the negative impact of tremendously high levels of imports. US trade laws have been strengthened by the signing of the Trade Adjustment Assistance bill, which will improve the means by which domestic companies may seek relief from unfairly traded imports. We are also maintaining our customer focus and our flexibility to respond as market conditions change."
    
    2015 Outlook
    “We currently expect commercial conditions to improve in the second half of 2015 from the conditions we experienced in the first half, as supply chain inventories continue to rebalance, primarily in our flat-rolled markets. Based on increasing benefits from our Carnegie Way transformation and our aggressive efforts to reduce operating costs to align them with our utilization levels, we currently expect to be within our full-year adjusted EBIT of $115 million to $315 million, or full-year adjusted earnings before interest, income taxes, depreciation and amortization (EBITDA) of $700 million to $900 million, guidance range for 2015. While we continue to find additional short term cost reductions and generate additional Carnegie Way benefits, if the current pace of commercial improvement in our markets does not increase, we would expect to be near the low end of the range. Consistent with our Carnegie Way transformation process, we are focused on converting as much of the short term cost reductions as possible into permanent improvements in our cost structure.”
    
    Source : Strategic Research Institute
14. voda 29 juli 2015 17:19

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    US steel makers file trade pet ion against 8 countries over CR imports
    
    Five major US steel producers – AK Steel Corporation, ArcelorMittal USA LLC, Nucor Corporation, Steel Dynamics Inc and United States Steel Corporation have filed petitions charging that unfairly-traded imports of certain cold-rolled steel flat products from Brazil, China, India, Japan, South Korea, Netherlands, Russia and the United Kingdom are causing material injury to the domestic industry. The petitions allege that producers in each of the eight countries are dumping cold-rolled steel in the US market at substantial margins. The petitions were filed concurrently with the United States Department of Commerce and the United States International Trade Commission
    
    DUMPING MARGINS ALLEGED
    Brazil - 50.07 - 59.74 percent
    China - 265.98 percent
    India - 42.28 percent
    Japan - 82.58 percent
    South Korea - 93.32 – 176.13 percent
    Netherlands - 47.36 – 136.46 percent
    Russia - 69.12 – 320.45 percent
    United Kingdom - 47.64 – 84.34 percent
    
    The petitions also allege that the foreign producers in Brazil, China, India, South Korea, and Russia benefit from numerous countervailable subsidies provided by their governments. The petitions identify 28 different subsidy programs in Brazil, 46 subsidy programs in China, 47 subsidy programs in India, 45 subsidy programs in South Korea, and 14 subsidy programs in Russia.
    
    The filing is in response to large and increasing volumes of low-priced imports of cold-rolled steel from the subject countries since 2012 that have injured US producers. Imports of cold-rolled steel from the eight countries targeted by this case increased by approximately 120 percent from 2012 to 2014, rising from 798,000 tons to 1.75 million tons. Subject imports increased by a further 44 percent between January-May 2014 and January-May 2015. Subject imports doubled their share of the US market from 2012 to 2014, while the domestic industry's share of the U market declined.
    
    The petitions allege that subject imports were able to penetrate the US market and capture an increasing share of the US market by significantly undercutting US producers' prices. As a result of the increasing volumes of low-priced imports, US producers have suffered significant declines in production, shipments, prices, and profits. The foreign producers in the countries covered by the petitions have massive capacity to produce cold-rolled steel and have been exporting large and increasing volumes of unfairly low-priced and subsidized cold-rolled steel to the United States. The price declines and market share reductions that U.S. producers have suffered are likely to continue if duties are not imposed to level the playing field.
    
    Product Description: The products covered by these petitions are certain cold-rolled (cold-reduced), flat-rolled steel products, whether or not in coils and regardless of thickness, that are not clad, plated, or coated with metal. The subject products include cold-rolled steel that is annealed, painted, varnished, or coated with plastics or other non-metallic substances. Cold-rolled steel is primarily used in the production appliances, automotive products, containers, and construction products, and a significant portion of cold-rolled steel produced in the United States is used for further processing into metallic-coated steels.
    
    Source : Strategic Research Institute
15. voda 29 juli 2015 18:58

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    Aperam ziet resultaat verbeteren
    
    Gepubliceerd op 29 jul 2015 om 18:40 | Views: 1.038
    
    LUXEMBURG (AFN) - De producent van roestvrij staal Aperam heeft in het tweede kwartaal een bedrijfsresultaat behaald van 155 miljoen dollar (140,5 miljoen euro), tegen 133 miljoen dollar in het eerste kwartaal van dit jaar. Dat maakte het bedrijf woensdag nabeurs bekend.
    
    Daarmee voldoet Aperam aan zijn eigen doelstelling voor een verdere verbetering van het resultaat. Het bedrijf gaf echter aan dat voor het derde kwartaal op een lager resultaat wordt gerekend dan in het tweede kwartaal vanwege de seizoensgebonden zwakkere vraag en de moeilijke marktomstandigheden. Voor heel 2015 is Aperam voorzichtig vanwege het economische klimaat en de onzekerheid over de ontwikkeling van de nikkelprijs.
    
    De omzet kwam uit op ruim 1,26 miljard dollar, iets meer dan in het voorgaande kwartaal. Aperam verscheepte 486.000 ton roestvrij staal, tegen 469.000 ton in de eerste drie maanden van dit jaar.
    
    Schulddaling
    
    De nettoschuld bedroeg aan het einde van het tweede kwartaal 454 miljoen dollar, tegen 508 miljoen dollar aan het einde van het eerste kwartaal. Aperam had eerder gezegd te rekenen op een lichte daling van de schuld. Ook voor het derde kwartaal wordt een lichte schulddaling voorzien.
    
    Op nettobasis werd een winst behaald van 66 miljoen dollar, tegen 42 miljoen dollar in de voorgaande periode. Topman Timoteo Di Maulo van Aperam gaf aan tevreden te zijn met het hogere nettoresultaat, onder meer geholpen door kostenbesparingen en efficiëntieverbeteringen.
    
16. [verwijderd] 30 juli 2015 14:56

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    www.thestreet.com/_nasdaq/story/13236...
17. [verwijderd] 30 juli 2015 15:17

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    yep, pas wanneer de berichten er zijn direct reageren, (als één der laatsten). en dan weer $%#@%$# als de koers weer richting de 10 à 11 gaat.
    Dus het effect is allang in de koers verwerkt.
18. voda 30 juli 2015 16:02

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    ArcelorMittal boekt 42% lagere nettowinst - Preview
    
    AMSTERDAM (Dow Jones)--Staalbedrijf ArcelorMittal (MT.AE) zal vrijdag een lagere nettowinst rapporteren over het tweede kwartaal volgens analisten, als gevolg van de gedaalde prijzen voor ijzererts en staal door toegenomen concurrentie uit China en Rusland. Vier door FactSet geraadpleegde analisten rekenen gemiddeld op een daling van de nettowinst met 42% tot $30 miljoen. Wat betreft het operationele winstresultaat (EBITDA) komt het gemiddelde van negen analisten volgens FactSet uit op $1,35 miljard; 24% lager dan in het tweede kwartaal van 2014. De omzet zal volgens de peiling dalen met 18% tot $16,9 miljard. De aandacht gaat uit naar een mogelijke verlaging van de outlook voor heel 2015. In het vorige kwartaal wijzigde ArcelorMittal zijn EBITDA verwachtingen naar $6 miljard tot $7 miljard, ten opzichte van $6,5 miljard tot $7 miljard eerder. Omstreeks 15.00 uur noteert het aandeel 0,1% lager op EUR8,19, terwijl de AEX met 1,2% stijgt. (levien.defeijter@wsj.com)
    
    
    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
    
    
19. voda 30 juli 2015 16:16

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    Aperam daalt vanwege voorzichtige outlook - Market Talk
    
    AMSTERDAM (Dow Jones)-- Aperam (056997440.LU) gaat donderdag flink omlaag, ondanks dat het staalconcern volgens Rabobank voor het zevende kwartaal op rij beter dan verwacht heeft gepresteerd. Analist Frank Claassen wijt de koersdaling vooral aan de outlook voor het derde kwartaal die, zoals hij had verwacht, voorzichtig is vanwege de gebruikelijke seizoensvertraging in de zomer en de recente daling van de nikkelprijs. De consensusverwachting was echter hoger. Bovendien wijst de analist op de volatiele aard van het fonds en de recente koersstijgingen. Aperam rapporteerde een operationele winst van $155 miljoen, waar Rabobank op $151 miljoen rekende en de consensus op $149 miljoen lag. De nettoschuldvermindering met $54 miljoen gedurende het tweede kwartaal noemt Claassen indrukwekkend. Hij blijft positief over het fonds en houdt vast aan het koopadvies met een koersdoel van EUR48. Omstreeks 10.20 uur noteert het aandeel 10,6% lager op EUR34,29, terwijl de Midkap met 0,6% daalt. (levien.defeijter@wsj.com)
    
    
    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
    
    
20. voda 30 juli 2015 19:38

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    EU surpasses US in steel scrap volume in 2014
    
    Ajot.com reported that the European Union became the world’s leading exporter of steel scrap in 2014 following an almost negligible increase of 0.3 percent to 17 million tons. Overseas shipments from the United States, meanwhile, tumbled 17.1% to 15.3 million tons, dropping the US to the number two exporter slot last year.
    
    Those were some of the statistics included in the recently-released “World Steel Recycling in Figures” from the Bureau of International Recycling (BIR). The report revealed that steel scrap usage in global steel production climbed 0.9 percent last year to 585 million tons. In all, over 97 million tons of scrap steel were traded across international borders in 2014, according to the BIR.
    
    The strengthening of the U.S. dollar, making U.S. export prices less competitive overseas, was the main factor cited by analysts for the drop in U.S. exports. Most of the scrap that would otherwise have been exported, they also noted, was absorbed by the U.S. domestic market, an additional three million tons, compared to the loss of 3.2 million tons in exports.
    
    Other reasons for the decrease in U.S. exports include the continuing drop in prices of iron ore, making refinement of steel from ore more attractive. China and other countries such as Turkey have reduced their imports of steel scrap, relying instead more on domestic sources, analysts also note, and Chinese steel mills have come to rely more on ore than on recycled steel as inputs for their operations.
    
    According to “World Steel Recycling in Figures,” a number of countries scaled back their ferrous scrap imports in 2014. Among them, China was down 1.9 million tonnes, or a whopping 42.6%; South Korea was down by 1.2 million tons, 13.6%; Turkey, down 650,000 tons 3.2%; and Taiwan was down by 180,000 tonnes, or 4.1%.
    
    Of these, only Turkey’s steel production dropped in 2014, but much less than its reduction in scrap imports. All four countries are generating and collecting more ferrous scrap internally and are becoming less reliant on imports, at least for now. Three of the top 10 importing countries bought more ferrous scrap in 2014 than in 2013: Thailand, which was up 44%, India, and the United States. Some analysts believe that China and South Korea are moving towards becoming steel scrap exporters over the coming years, although that opinion is not unanimous.
    
    From 2010 through 2013, according to the BIR, Turkey was the largest importer of steel scrap, and the U.S. was the largest exporter. Those two facts existed in symbiosis, as Turkish mills purchased considerable tonnage from shippers on the U.S. East Coast.
    
    Two elements coincided to help weaken this connection. Turkish mills have been focusing on sourcing more scrap domestically, so that overall import levels actually peaked in 2012. As the U.S. dollar strengthened throughout 2014, mill buyers in Turkey and elsewhere began to look to the EU for many of their purchases.
    
    The result, according to the BIR, was that the EU’s export volume in 2014 closely matched 2013’s level: 16.86 million tons in 2014 versus 16.81 million tons in 2013, while exports from the U.S. tanked, dropping the U.S. to second place on the global steel scrap exporter list.
    
    Source : Ajot.com
    
21. voda 30 juli 2015 19:43

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    ArcelorMittal Temirtau cuts wages by 25% and wants Kazakhstan to limit steel imports
    
    AKIpress reported that Mr Vijay Mahadevan General Director of ArcelorMittal Temirtau JSC said that his company is discussing with the Government of Kazakhstan the possibility for increasing the demand in the domestic market by limiting imports from other countries. He said "Doing so, the Government could help us.”
    
    He added that the local market now covers about 3 million tons, while the annual domestic demand growth is 3-7%. He said "At the moment, we produce 3.5 million tons of steel a year. We plan in the near future to produce 4 million tons of steel a year with further production growth up to 6 million tons.”
    
    However, the head of the company admitted that due to Kazakhstan's membership in the Customs Union, it would be challenging for the Government to impose steel import restrictions.
    
    ArcelorMittal Temirtau also announced on Tuesday that it will reduce wages of all workers of the company by 25% starting from August 1. Excess of steel imports, especially from Russia, was blamed for financial challenges in the company that in turn allegedly lead to wage cuts.
    
    Source : AKIpress
    

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