Nieuws en info hier plaatsen (deel 4)

1. voda 27 april 2016 17:13

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   JFE warns on steel price uncertainty
   
   JFE Holdings Inc, Japan’s second-biggest steelmaker, beat its scaled-back profit forecast while warning that the year ahead is tough to predict due to gyrations in the prices of steel and its raw materials. It posted net income of JPY 33.7 billion (USD 304 million) in the year through March. JFE cited gains made on the sale of investment securities for the increase. Its full-year result is 76 percent lower on last year.
   
   JFE’s full-year sales fell 11 percent on the year due to lower prices and an excess of steel, while operating profit dropped 59 percent. Its shares closed 4.9 percent lower in Tokyo before its earnings announcement, for an 8.4 percent decline this year.
   
   The company set its target as measured by current profit in fiscal 2016 at JPY 65 billion, little changed on the year, due to various uncertainties, such as the prices of key raw materials used in steel production and steel sales prices
   
   Executive Vice President Shinichi Okada told a briefing “China’s steel prices are increasing substantially. Along with the surge, raw material prices are also gaining. We are puzzled at the large size of the price gains.”
   
   He added “China’s surging output in March was also a surprise. We are at a loss on how we can plan. While China has made efforts to pare excess capacity, planning cuts of as much as 150 million metric tons, it won’t be easy resolve the world’s imbalance between supply and demand.”
   
   He said”The outlook remains unclear.”
   
   Source : Bloomberg
   
2. voda 28 april 2016 21:15

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   US steelimports in March surge by 13% YoY – AISI
   
   Based on preliminary Census Bureau data, the American Iron and Steel Institute has reported that the US imported a total of 2,569,000 net tons (NT) of steel in March 2016, including 2,097,000 net tons (NT) of finished steel (up 12.9% and down 0.1%, respectively, vs. February final data). Year- to-date (YTD) through three months of 2016 total and finished steel imports are 7,493,000 and 6,424,000 net tons (NT), down 36% and 34% respectively, vs. the same period in 2015. Annualized total and finished steel imports in 2016 would be 30.0 and 25.7 million NT, down 23% and 18% respectively vs. 2015. Finished steel import market share was an estimated 24% in March and is estimated at 25% YTD.
   
   Key finished steel products with a significant import increase in March compared to February are reinforcing bars (up 35%), sheet and strip all other metallic coatings (up 24%), cut lengths plates (up 21%) and wire drawn (up 11%).
   
   In March, the largest volumes of finished steel imports from offshore were from South Korea (278,000 NT, down 26% from February Final), Turkey (276,000 NT, up 33%), Japan (148,000 NT, up 30%), Brazil (72,000 NT, up 23%) and Germany (72,000 NT, down 11%). For three months of 2016, the largest offshore suppliers were South Korea (896,000 NT, down 52%), Turkey (729,000 NT, down 27%), Japan (451,000 NT, down 29%), Brazil (285,000 NT, down 27%) and Germany (274,000 NT, down 35%).
   

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3. voda 28 april 2016 21:23

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   Newport MP Ms Morden refutes Ukip claim on UK steel industry state on leaving Europe
   
   South Wales Argus reported that claims by a Ukip MP that the steel industry in Wales, and across the UK, would be better protected if the country left the European Union have been refuted by a Newport MP.
   
   Labour’s Newport East MP and pro-EU campaigner Ms Jessica Morden, who called his words inaccurate and opportunist. She said “We should all be pulling together to safeguard the Welsh steel industry and the jobs and communities that depend on it, not using the current difficulties to make cheap political points. As the MP for Newport East I have been calling on the UK government to take action for months. That is what the industry needs now, not Leave campaigners making flying visits in a bid to profit from a difficult situation.”
   
   She said “Douglas Carswell is completely wrong to suggest that Brexit would benefit British steel. In fact, the EU accounts for over half our steel exports and leaving the EU could mean tariffs on the steel we sell into Europe, like those the Canadians must pay, which would be a killer blow for the British steel industry. Britain has the tools available to support our steel industry, if only the government would choose to use them.”
   
   Mr Douglas Carswell, Ukip’s only Westminster MP, visited Llanwern steelworks to meet workers and hear about the impact of the crisis in the industry on their lives. Speaking in Parliament ahead of his visit, the Clacton MP said the UK’s membership of the European Union makes it much harder for British steelmakers to do business. He said “The EU's anti-fossil-fuel directives and regulations have driven up energy costs. And heavy industry is paying the price. While Chinese manufacturers make the most of cheap power, fuel costs for ours have rocketed. EU interference in our energy market is making it impossible for our industry to compete."
   
   Source : South Wales Argus
   

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4. voda 28 april 2016 21:28

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   CSN claims that Nippon Steel & Sumitomo Metals contracts hurt Usiminas
   
   Reuters reported that an Usiminas shareholder has filed a legal claim alleging that contracts with controlling shareholder Nippon Steel & Sumitomo Metal Corp, which inexplicably rose ten-fold in the past five years, damaged the ailing Brazilian steelmaker's finances
   
   The claim, filed on Monday, questioned the nature of 19 billion reais of so-called related-party contracts between Usinas Siderúrgicas de Minas Gerais SA and subsidiaries of Nippon Steel & SumitomoMetals
   
   The legal action was attached to a lawsuit already filed by minority shareholder Cia Siderúrgica Nacional SA, which wants courts to block a capital injection plan approved by the board of Usiminas last week.
   
   According to the sources, the latest claim by CSN alleged that Usiminas' outdated plants failed to benefit from expensive contracts for technology and equipment transfer from Nippon Steel.
   
   The lawsuit alleges that Techint Group, the other of Usiminas' two controlling shareholders, allowed Nippon Steel to ramp up the contracts in a quid pro quo for keeping control over the day-to-day management of the steelmaker, the sources said.
   
   The lawsuit, filed in a court in the state of Minas Gerais where Usiminas is based, underscores efforts by CSN to win greater control over Usiminas, which is succumbing to rising Chinese imports, a steep recession and a rift between Nippon Steel and Techint.
   
   Source: CSN
5. voda 28 april 2016 21:29

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   Nippon Steel & Sumitomo Metal renew master agreement for OCTG with BP
   
   Nippon Steel & Sumitomo Metal Corporation together with Sumitomo Corporation have signed the renewal of a Master Agreement for oil country tubular goods with BP in December. This long term agreement is effective from January 1, 2016.
   
   NSSMC and Sumitomo Corporation have had the long term contract for the supply of OCTG since 1990’s and have performed a high level of credibility in the industry with regard to product supply, development of customized new products, total solution proposals, cost optimization, and solid delivery service by use of supply chain management.
   
   By making use of the superior technology and services, NSSMC is committed to contributing to BP’s exploration and production activities which find resources in challenging locations and require advanced solutions.
   
   Source: Nippon Steel
6. voda 28 april 2016 21:31

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   CSC places order with SMS group to modernize continuous slab caster No. 4
   
   China Steel Corporation (CSC), Taiwan, has awarded SMS group the order to revamp its continuous slab caster No. 4 at Kaohsiung. SMS group will be supplying a new hydraulic oscillator drive, including the pump station and the pertaining X-Pact® process control system to replace the existing electro-mechanical drive. For the mold, SMS group is supplying new thermocouples and the technological process models. The level-2 models of the X-Pact® electrical and automation system include the Mold Monitoring System for temperature monitoring and the breakout prediction system.
   
   The new hydraulic oscillator drive allows the oscillation frequency, stroke length and curve shape to be variably set. The breakout prediction system recognizes any occurring stickers at a very early stage, allowing preventive measures to be taken. For monitoring the process in the mold, the temperature is measured via thermocouples installed on the mold copper plates.
   
   SMS group’s supply package also includes the project management, on-site training of the operating personnel and supervision of commissioning.
   
   Start-up is scheduled for the end of 2016.
   
   China Steel has placed this modernization order as a follow-up to the successful implementation of a Mold Monitoring System from SMS group in continuous caster No. 7 in the same works.
   
   Source: SNC
7. voda 28 april 2016 21:34

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   Europe opens probe to renew subsidies on stainless steel bars imports from India
   
   Bloomberg reported that the European Union has threatened to renew tariffs on stainless steel from India, saying EU producers may face a persistent risk of unfair competition as a result of subsidies to Indian competitors. The European Commission began an inquiry into whether to re-impose the duties as high as 4% on Indian stainless steel bars and rods.
   
   EC said “The investigation will determine whether the expiry of the measures would be likely to lead to a continuation or recurrence of subsidization and of injury to the union industry.”
   
   The anti-subsidy duties are due to expire on 29 April and will now stay in place during the probe, which can last as long as 15 months. EU renewals of such measures are usually for five years.
   
   The bloc applied the levies for five years in 2011 to help European producers such as Acerinox SA counter alleged trade-distorting Indian aid to exporters such as Mukand Ltd. The duty rates range from 3.3% to 4%, depending on the Indian exporter. Originally, the maximum rate was 4.3%, which the EU reduced to 4% in 2013 when also deciding to exempt one Indian manufacturer Viraj Profiles Ltd from the measures.
   
   The inquiry into whether to renew the trade protection stems from a 28 January request by European steel industry association Eurofer on behalf of producers that account for more than a quarter of the EU’s output of the stainless steel bars and rods covered by the measures, according to the commission.
   
   Source: Bloomberg
8. voda 28 april 2016 21:34

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   41 blast furnaces reopened in China - Report
   
   Australian Financial Review reported tht easy credit and an increase in government spending has led to the re-opening of at least 41 Chinese blast furnaces shuttered last year, as producers on the mainland reap their best profits since 2008. Despite an over-supply of steel globally and an increasing number of countries levying anti-dumping tariffs on Chinese exports, domestic producers have moved quickly to ramp up production.
   
   The latest to re-open is the privately owned Songting Steel, in the industrial town of Tangshan outside Beijing. It has a production capacity of 5 million tonnes and was closed in November last year due to the low price of steel and high debt levels.
   
   Research house MySteel estimates around 50 million tonnes of Chinese capacity has been re started this year, the equivalent of 41 blast furnaces with an annual capacity of 1.2 million tonnes.
   
   Mr Xu Xiangchun, the chief information officer at MySteel, said “The market is so good why would steel mills not re-open? Only the mills which were torn down or had serious debt problems have not re-opened."
   
   Mr Xu said “The strong steel production figures were being driven by a pick-up in property construction and infrastructure projects across China and the government pushing more credit into the economy. I think the government will tighten up on the property sector so it's hard to see the rally continuing.”
   
   Stockbroking firm Everbright Securities estimates the average Chinese steel mill is now making a profit of 400 yuan per tonne of steel produced, the highest level since 2008.
   
   Source: Australian Financial Review
9. voda 28 april 2016 21:36

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   USW and ArcelorMittal USA reach tentative agreement
   
   Nearly a year ago USW had started bargaining, and now eight months after our 2012 contract expired, USW negotiating committee announced reaching a tentative agreement with ArcelorMittal USA.
   
   It said “In the near future, we will schedule meetings, provide details and produce a summary for the membership to review. The proposed new agreement preserves our economic security and other contractual protections and will expire Sept. 1, 2018, if ratified.”
   
   “Recognizing the challenges facing our industry - mainly the result of historic levels of unfairly traded imports and a depressed market for our products - we committed very early in this process to address the company’s needs while protecting future generations and without burdening current or future retirees with unnecessary expenses.”
   
   “Thanks to your support and solidarity on the shop floors while we resisted ArcelorMittal’s persistent concessionary demands at the table, we have negotiated a fair agreement that balances the needs of management to save money with our commitment to maintain our standards of living.”
   
   “Our committee sincerely appreciates the work of CAT activists and leaders at each location to keep everyone informed and on the same page throughout this long and sometimes frustrating process.”
   
   “Although it has taken much longer than anyone could have anticipated, we are proud of what we have accomplished and look forward to the challenges ahead. Click here to download a PDF of this update.”
   
   Source: Strategic Research Institute
10. voda 29 april 2016 15:56

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    Beursblik: Exane gaat ArcelorMittal weer volgen
    
    ArcelorMittal krijgt Neutraal advies en koersdoel van 5 euro.
    
    Exane BNP Paribas gaat het aandeel ArcelorMittal weer volgen met een Neutraal advies en een koers van 5,00 euro. Dit meldde de bank vrijdag, nadat het aandeel een periode op de Restricted lijst stond.
    
    De analisten schreven verrast te zijn door de plotselinge opleving van de Chinese ijzererts- en staalprijzen in maart. Sindsdien zijn de staalprijzen in Europa hersteld met 33 procent ten opzichte van het dieptepunt in december en stegen de prijzen in de Verenigde Staten met 45 procent. De prijs voor ijzererts is opgelopen tot 60 dollar.
    
    Dit prijsherstel geeft het bedrijfsresultaat (EBITDA) van ArcelorMittal een impuls. Na het magere resultaat in het eerste kwartaal, van 0,9 miljard dollar, voorzien de analisten voor het tweede kwartaal een resultaat van 1,2 miljard tot 1,3 miljard dollar en voor het derde kwartaal een EBITDA van 1,8 miljard dollar, mits het sterke prijsmomentum aanhoudt.
    
    "Niveaus die we sinds 2014 niet meer zagen", aldus Exane.
    
    Echter, hoewel er volgens de analisten dus sprake is van een sterk momentum voor de staalprijs op de korte termijn, blijft de markt kwetsbaar voor een mogelijke correctie op de Chinese ijzererts- en staalmarkten.
    
    Sinds een rally vanaf begin februari waarbij het aandeel 77 procent steeg, en gezien het feit dat de recente opleving van de staalmarkt mogelijk geen lang leven is beschoren, zien de analisten momenteel weinig opwaarts potentieel voor het aandeel.
    
    Het aandeel ArcelorMittal noteerde vrijdagochtend fractioneel hoger op 5,11 euro.
    
    Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
12. voda 29 april 2016 16:30

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    Acties in Duitse elektro- en metaalindustrie
    
    Gepubliceerd op 29 apr 2016 om 12:54 | Views: 1.052
    
    ESSEN (AFN/DPA/RTR) - Duizenden werknemers in de Duitse elektro- en metaalindustrie hebben vrijdag door het hele land actie gevoerd voor een hoger loon. Onder meer bij staalconcern ThyssenKrupp en de autobedrijven Audi en Ford werd het werk tijdelijk stilgelegd.
    
    De acties volgen op het verwerpen van een loonaanbod door vakbond IG Metall voor de circa 3,8 miljoen werknemers in de elektro- en metaalindustrie in Duitsland. De bond sloeg een aanbod voor een loonsverhoging door werkgeversorganisatie Gesamtmetall van 2,1 procent voor twee jaar af. IG Metall wil een loonsverhoging van 5 procent.
    
    IG Metall heeft gewaarschuwd dat de werkgevers met een beter bod moeten komen, anders kunnen langdurige acties volgen.
    
13. voda 29 april 2016 16:41

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    Nippon Steel & Sumitomo Metal sees rapid steel prices rise as unsustainable
    
    China's steel prices have surged 45 percent so far this year, fuelled by tighter supply due to shutdowns in the past year, but industry officials have raised doubts that the rally will continue. Reuters reported that world's second-largest steelmaker Nippon Steel & Sumitomo Metal Corp expects the rapid rise in Asian steel prices is unsustainable given the increase in China's steel output and exports in March.
    
    NSSMC EVP Mr Toshiharu Sakae told a news conference “There is no clear sign of a strong pick-up in China's local demand. We don't expect run-up to continue at the recent pace."
    
    Mr Shinichi Okada EVP of JFE Holdings had also said earlier this week “It's hard to think the prices keep rising this fast amid supply glut.”
    
    China's steel production hit a record high of 70.65 million tonnes in March, amounting to 834 million tonnes on an annualised basis.
    
    Nippon Steel reported a 56 percent drop in its 2015/16 recurring profit, which is pre-tax before one-off items. It did not provide forecasts for this year. Nippon Steel slashed 2015/16 output by 6 percent to 42.17 million tonnes, the lowest in six years, while JFE lowered its output by 4 percent to 27.36 million tonnes.
    
    Source: Strategic Research Institute
14. voda 29 april 2016 16:51

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    Tata Steel UK cannot continue to bleed – CEO Mr Bimlendra Jha
    
    Deccan Herald reported that Tata Seel UK CEO Mr Bimlendra Jha told a British parliamentary committee that Tata Steel UK cannot continue to bleed from its loss making steel units in the country and a buyer needs to be found soon. He also clarified that the company did not want to split up its UK business by selling it to different buyers.
    
    Mr Jha told the House of Commons Business Select Committee that structural disadvantages in the UK, such as extremely high energy costs, were largely the reason for the crisis in the steel industry.
    
    He said "There is no dead drop time that has been given, though you will appreciate with the kind of losses that there are, urgency is important. What if no buyer emerges? We cannot continue to bleed. We have seen over a period of time that manufacturing in Britain has been on a decline. If we were at the same electricity costs as Germany, then Tata Steel UK would be 40 million pounds better off – we would not be having negative numbers. We would not be selling the business if we were not losing money.”
    
    He also clarified that the company did not want to split up its UK business by selling it to different buyers. Mr Jha warned that splitting off Port Talbot in south Wales would cause damage to the pension scheme because more than 4,000 workers would stop making contributions. He said "We would not deal with somebody saying leave alone Port Talbot and give us the rest. That is not a solution that's acceptable.”
    
    He also warned the MPs that the company's 15 billion pounds pension liability needed to be addressed to help find a buyer. He told "If we don't solve it, we are staring at some very bad consequences for the taxpayer...We are staring at a huge economic and social disaster.”
    
    UK business secretary Sajid Javid told the committee that pension fund trustees were in talks with the pensions regulator. He reiterated that the UK government would not take a stake of more than 25 per cent in Tata Steel's UK assets. He told "Twenty five per cent was the limit that I thought was necessary to show that on the one hand you're serious about helping...but also not to put off potential investors by saying this is something the government seeks to control.”
    
    Source: Deccan Herald
15. voda 29 april 2016 16:59

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    Liberty House completes deal to acquire former Tata Steel plants in Lanarkshire
    
    Herald Scotland reported that Liberty House has announced it has completed its acquisition of two former Tata Steel plate-making facilities in Lanarkshire. The deal involved a back-to-back transaction which saw the Scottish Government acquire the Dalzell and Clydebridge plants before immediately selling them to Liberty.
    
    Mr Sanjeev Gupta, executive chair of the Liberty House Group said "We're very pleased to announce that we have completed the deal to acquire Tata's plate mills in Scotland and we now look forward to continuing to work with local management and the workforce to re-build these great businesses in the months ahead. We're very grateful for the valuable support of the Scottish Government and the trade unions in concluding this deal. Our team is continuing to evaluate the opportunity to make a bid for other Tata UK assets."
    
    Welcoming the latest development, First Minister Ms Nicola Sturgeon said: "I am delighted that the final details of the deal to transfer the Scottish steel plants is now concluded and implemented. We are very grateful to Liberty for their foresight in coming forward to take up this exciting opportunity in Scotland and for the energetic and speedy manner in which they worked with the Scottish Government to help save these jobs."
    
    Work could get under way again at the steel mills as early as August.
    
    Source: Herald Scotland
16. voda 29 april 2016 17:00

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    Usiminas picks Mr Elias Brito as new chairman in rare consensus
    
    Reuters reported that Brazilian steelmaker Usiminas has appointed Mr Elias Brito as chairman on Thursday in a rare unified vote between two controlling shareholders that have been battling for control of the company for 18 months. Mr Brito will replace Mr Marcelo Gasparino, who had been appointed last year by minority shareholders after the controllers, Japan's Nippon Steel & Sumitomo Metal Corp and Italo-Argentinian Techint, could not agree on a candidate.
    
    Sources close to Usiminas management said the consensus between the warring factions had been formed in order to block advances by rival steelmaker CSN which received permission this week from Brazil's anti-trust body Cade to nominate two members to the board.
    
    Nippon, Usiminas and Techint filed three different injunctions trying to block CSN's participation in the board member vote but all were rejected by judges in Belo Horizonte and Brasilia. Cia Siderurgica Nacional SA, as CSN is formally known, is a shareholder in Usiminas but had been prohibited from electing board members due to anti-trust concerns. São Paulo-based CSN owns 14.1 percent of voting shares and 20.7 percent of non-voting stock of Usiminas. The value of CSN's original 3 billion real investment in Usiminas in 2011 has declined 85 percent.
    
    Source: Reuters
17. voda 29 april 2016 17:00

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    Unreasonable to blame local mills for steel shortage – Malaysian steel body
    
    The Star reported that Malaysian Iron and Steel Industry Federation said that it is unreasonable to blame local steel mills for the current shortage of the commodity, as it is due to factors beyond their control. It said the shortage was mainly due to Chinese steel exporters cancelling their contracts with Malaysian importers, as domestic demand in China had shot up.
    
    Another reason for reduced supply, it said, was that local mills had been shutting down lines and cutting jobs due to the unfair competition with Chinese steel imports sold below cost price. It said “Some Malaysian steel users, instead of supporting and cooperating with the domestic steel mills on securing products that are available within the country, have been enjoying artificially cheap prices on products imported under unfair trade environment in the last several years. As such, what the industry players are facing now is just the result of how predatory priced imports can hurt the entire economic value chain, from losses and plant closures of steel mills to resulting temporary supply shortages during periods when imports are insufficient.”
    
    It added “Due to the shortage, local mills were now reviving their machines and building their manpower again.”
    
    In a separate statement, the Malaysia Steel Association said the local construction and property industries had enjoyed “sizeable profits” due to the cheap steel imports from China over the past few years.
    
    Source: The Star
18. voda 2 mei 2016 20:10

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    US Steel Canada granted creditor protection until July
    
    The Globe and Mail reported that United States Steel Corp has lost out on a bid to bring down the curtain on the restructuring of U.S. Steel Canada Inc, its former Canadian unit, which it cut loose last year after placing it into creditor protection in 2014.
    
    The Ontario Superior Court rejected US Steel’s bid to halt an extension of US Steel Canada’s protection under the Companies’ Creditors Arrangement Act and the Pittsburgh-based company’s alternative proposal that any extension be limited to May 20. The court ruled in favour of US Steel Canada’s request for an extension until July 28.
    
    US Steel pointed to the significant and ongoing value destruction that is currently taking place at USSC, to the detriment of USSC’s secured and unsecured creditors,” as a reason for wrapping up the restructuring as soon as possible.
    
    The company’s former Canadian unit is in the midst of seeking a buyer or investor as part of a court-approved sales process. An earlier attempt to sell the business failed last year, leading to US Steel’s decision to walk away from the unit it established when it purchased Stelco Inc in 2007.
    
    US Steel has a claim of more than $1-billion against its former Canadian unit – although that claim is being challenged by unions representing workers at US Steel Canada and a group of salaried employees and retirees. The value of that claim is being eroded as the sales process drags on, US Steel said in its court filing, which also revealed that it made a bid to repurchase the Canadian unit during the first attempt to sell the company.
    
    Source : The Globe and Mail

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19. voda 2 mei 2016 20:11

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    Purdue University based national consortium aims to help steel industryin US
    
    Associated Press reportedthat a new national consortium has been established to come up with ideas that could help the domestic steel industry in US. Purdue University Northwest’s Center for Innovation through Visualization and Simulation is partnering with steelmakers, including US Steel, and major suppliers to form the Steel Manufacturing Simulation and Visualization Consortium. The consortium is based at Purdue’s Hammond campus.
    
    A panel of consortium members told the Lakeshore Chamber of Commerce on last Thursday they will work on projects that would make the industry more energy efficient and environmentally friendly.
    
    Mr Don Babcock, NIPSCO’s director of economic development, said “It’s been over a century since the great steel mills were built here, and they probably reached their peak in 1978, when they employed 70,000 people. We still make 20 to 25 percent of the nation’s best steel. But we all recognize the industry is under assault internationally. They want to eat our lunch. We have to do everything we can to maintain this phenomenal business and industry.”
    
    Steel maintains a strong presence in Northwest Indiana with three large integrated mills, more than anywhere else in the United States, according to Kelly Dallas, a former a chairperson for the Association for Iron and Steel Technology Midwest Chapter. But Indiana’s steel industry has been struggling of late after a record surge of imports and layoffs. Babcock estimates Northwest Indiana would suffer at least a $2 billion blow if the mills were to close.
    
    Source : Associated Press
20. voda 2 mei 2016 20:14

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    • voda

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    POSCO signs deals to export steel technology to Iran
    
    Iran Daily reported that POSCO is looking to enter the Iranian market through exports of proprietary technologies. This February, POSCO signed a memorandum of understanding with Iran's Pars Kohan Diarparsian Steel (PKP) to tap into the country's high-potential market. Under the agreement, it will build a plant with an annual production capacity of 1.6 million tons in Iran's Chabahar free economic zone
    
    The project will be carried out in two stages, with the first involving construction of an integrated steel mill using Finex and CEM technology. The second stage will involve the addition of a cold rolling mill and a continuous galvanizing line.
    
    POSCO aims to break ground on the plant within the first half of next year, with commercial production slated to begin in 2018.
    
    The MoU also involves POSCO transferring its innovative steelmaking technology, which combines Finex and CEM, to its Iranian partner.
    
    POSCO's subsidiaries are partnering with Korean companies to ease the multinational steelmaker's entry into the Iranian market.
    
    POSCO Daewoo, along with Hyundai Engineering and Construction (E&C), signed a deal with Iran's Health Ministry to build a hospital for Shiraz University of Medical Sciences — one of the country's top medical schools. POSCO Daewoo will supply medical equipment, while Hyundai E&C will be responsible for construction.
    
    POSCO Energy, in cooperation with the Korea Electric Power Corporation (Kepco), POSCO E&C and PKP, recently signed an MoU for an off-gas power plant and desalination project in Iran. POSCO Energy and Kepco will be in charge of operating and maintaining the plant and desalination facility, while POSCO E&C will oversee their construction.
    
    Source : Iran Daily
    

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21. voda 2 mei 2016 20:16

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    • voda

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    New Scunthorpe steel works owners call for Government help to remain viable
    
    Grimsby Telegraph reportedthat bosses of the new owners of Scunthorpe's steel works say it will need the Government's support if the business is to remain viable. Mr Marc Meyohas, a partner at Greybull Capital LLP which bought the business from Tata Steel, told the Commons Business Select Committee that publicly funded projects, such as HS2, must use British-made steel if the industry is to continue in North Lincolnshire.
    
    He said "I think the Government is open to investing in British steel. It is critical that the dialogue delivers results. For British steel to be a success in the future, everyone needs to pull together to make that happen.”
    
    He confirmed that Greybull had not received any written promises of support from Whitehall departments but felt reassured by conversations with ministers. He said “They have made it very clear that they are behind the industry. It is one of the reasons we decided to invest in this business. They are one of the stakeholders who are behind this plan and that is very welcome."
    
    Business Secretary Mr Sajid Javid has refused to offer any direct reassurances, however, telling the committee that the Government would not buy British steel no matter the price. He said "They have to be competitive.”
    
    Source : Grimsby Telegraph