Nieuws en info hier plaatsen (deel 4)

1. voda 17 augustus 2016 17:07

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   Pfff, rook van mijn muis... :-)
   
   Arcelor Mittal resumes rail operation linking Yekepa and Buchanan
   
   Liberian Observer reported that after nearly two weeks of non-service due to the derailment of several wagons from the ArcelorMittal locomotive, normal operations have resumed on the railroad linking Yekepa and Buchanan.
   
   According to Arcelor Mittal’s Communication Manager Ms Hesta Baker Pearson, the rail line was opened on August 9, after the completion of repair work.
   
   She said that the first train of empty wagons traveled to Tokadeh in Yekepa, early morning Thursday of August 10, without any problem and returned to Buchanan with 120 wagons loaded with iron ore.
   
   However, it may be recalled that on Tuesday, August 2, a train belonging Arcelor Mittal derailed on the Bong County side, about three kilometers from the boundary with Nimba County, near Lamco Camp, in Bong County, and about 165 kilometers from Buchannan.
   
   According to citizens living alongside the railroad in Nimba County town of Duo, the train was en route from Yekepa around 4am, when they heard a very harsh sound of steel rubbing together about 10 kilometers from the where the train finally derailed.
   
   A security officer on duty the night of the incident said that “The rubbing of steel between the train and the track blazed like fire and it made us to think that the train was on fire.”
   
   At the scene of the accident, bolts that were used to tighten the rail on the wood, which serves as the foundation of the rails, were all broken and thrown about 10 kilometers to where the train derailed.
   
   The train was marked number 94, and was loaded with about 70 wagons full of iron ore, heading for the port City of Buchanan.
   
   The derailment affected nearly 16 of the middle wagons, leaving 30 wagons backward and 27 wagons still attached to the locomotive.
   
   The 30 wagons were later pulled back to Yekepa, while the 27 others managed to reach Buchanan on the same train.
   
   The other 16 wagons that were derailed scattered along the tracks, causing extensive damage to the railroad.
   
   Now, the sound of the movement of trains has once again resumed along Yakepa –Buchanan railroad, which is about 10 kilometers from the commercial city of Ganta.
   
   Source : Liberian Observer

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2. Padre 17 augustus 2016 17:12

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   quote:

   voda schreef op 17 augustus 2016 17:07:

   Pfff, rook van mijn muis... :-)
   
   Arcelor Mittal resumes rail operation linking Yekepa and Buchanan
   
   Liberian Observer reported that after nearly two weeks of non-service due to the derailment of several wagons from the ArcelorMittal locomotive, normal operations have resumed on the railroad linking Yekepa and Buchanan.
   
   According to Arcelor Mittal’s Communication Manager Ms Hesta Baker Pearson, the rail line was opened on August 9, after the completion of repair work.
   
   She said that the first train of empty wagons traveled to Tokadeh in Yekepa, early morning Thursday of August 10, without any problem and returned to Buchanan with 120 wagons loaded with iron ore.
   
   However, it may be recalled that on Tuesday, August 2, a train belonging Arcelor Mittal derailed on the Bong County side, about three kilometers from the boundary with Nimba County, near Lamco Camp, in Bong County, and about 165 kilometers from Buchannan.
   
   According to citizens living alongside the railroad in Nimba County town of Duo, the train was en route from Yekepa around 4am, when they heard a very harsh sound of steel rubbing together about 10 kilometers from the where the train finally derailed.
   
   A security officer on duty the night of the incident said that “The rubbing of steel between the train and the track blazed like fire and it made us to think that the train was on fire.”
   
   At the scene of the accident, bolts that were used to tighten the rail on the wood, which serves as the foundation of the rails, were all broken and thrown about 10 kilometers to where the train derailed.
   
   The train was marked number 94, and was loaded with about 70 wagons full of iron ore, heading for the port City of Buchanan.
   
   The derailment affected nearly 16 of the middle wagons, leaving 30 wagons backward and 27 wagons still attached to the locomotive.
   
   The 30 wagons were later pulled back to Yekepa, while the 27 others managed to reach Buchanan on the same train.
   
   The other 16 wagons that were derailed scattered along the tracks, causing extensive damage to the railroad.
   
   Now, the sound of the movement of trains has once again resumed along Yakepa –Buchanan railroad, which is about 10 kilometers from the commercial city of Ganta.
   
   Source : Liberian Observer
   

   :) :)
3. Toekomstbeeld 17 augustus 2016 17:58

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   Dacht ik tranende ogen had vanwege de koers ontwikkeling maar komt dus van de rook vd muis :-)
4. voda 18 augustus 2016 16:31

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   ArcelorMittal Marching On
   
   Summary
   
   •ArcelorMittal provided strong results in the second quarter.
   
   •EBIDTA improved significantly despite a revenue decline versus last year.
   
   •The leverage from capex reduction, cost and debt and interest payments reductions will continue in through expiring contracts and further price recovery.
   
   •Risks remain in a further slowdown of the world economy.
   
   ArcelorMittal (NYSE:MT) is the world's largest steel producer. It's a truly globalized company with plants on virtually every continent. Roughly half of its revenue comes from Europe, with another quarter from North America
   
   Steel prices are recovering
   
   It is no secret to what is the main problem in the world steel market, it's the Chinese overcapacity and their inability (at least so far) to tackle this issue.
   
   This has led other regions to impose restrictions on key imports, and this has been instrumental in supporting prices. Spot prices have risen quite significantly:
   
   
   
   Due to a fairly aggressive trade policy, steel prices have recovered more than elsewhere, and US imports are down 31% for the first five months in 2016.
   
   
   
   Will this recovery continue? Well, steel prices are somewhat less volatile as the prices for other commodities, and significant regional differences remain. Also, there are quite a few different steel products, which muddies the picture somewhat.
   
   There is a serious overcapacity problem, here is Reuters:
   
   “
   The OECD says global steelmaking capacity was 2.37 billion tonnes in 2015, but declining production meant only 67.5 percent of that was being used, down from 70.9 percent in 2014.
   
   A lasting recovery can only ensue if this overcapacity is tackled, and this mostly depends on China, which is where most of that overcapacity is situated. As of yet, there is little sign of that. Instead, China likes to export its way out:
   
   
   
   When this export drive met fierce resistance abroad (mainly the US and EU) in the form of trade barriers, the Chinese have another way out, or so they seem to think.
   
   By doubling down on another round of (fiscal and monetary) stimulus, China has engineered an upturn in domestic demand and prices earlier in the year.
   
   
   
   This has driven the real estate sector and construction higher, which drove demand for steel. But after a steep rise earlier this year, prices have been topping out in April and have declined since.
   
   So basically steel prices are a function of Chinese macro policy at the moment, with the wild card being the possibility of a serious restructuring. To get to terms with the size of the problem, consider the following to graphs:
   
   We think that in time both the Chinese stimulus situation and the overcapacity problem are untenable. Monetary stimulus creates a ballooning of debt and produces ever less bang for the buck.
   
   The overcapacity (which isn't confined to the Chinese steel industry alone) is just as much a dead weight on the economy as the increase in debt, and they are related.
   
   Overcapacity leads to falling producer prices, which eat the bottom line of companies. These then have to refinance old loans and take on new credit to stay afloat.
   
   This process can continue for a while, and it's anyone's guess when we'll hit the end of the road as this is in essence a political decision.
   
   What we have seen though is that with new stimulus resulting in rising prices, Chinese steel producers take advantage to increase production (Reuters):
   
   “
   Under pressure to curb steel output and relieve a global glut, China said on Tuesday its production actually hit a record high last month as rising prices, and profits, encouraged mills that had been shut or suspended to resume production.
   
   It will take forceful political intervention to break this cycle. This isn't easy, the sector employs millions, and it's difficult to retrain many of these people in the drive towards a more service and consumer orientated economy.
   
   There are plans in place already, here is the Peterson Institute for International Economics summing things up:
   
   “
   To tackle substantial excess capacity further, in February 2016, the State Council announced that China will cut crude steel capacity by 100 million to 150 million tons over the next five years.[4] The Ministry of Human Resources and Social Security estimated that 500,000 employees in the industry will need to be resettled.[5] In May 2016, the Chinese government announced a more specific short-term plan to cut excess capacity. The government committed to cut coal and steel capacity owned by centrally-administered state-owned enterprises by 10 percent during the 2016 -17 period.[6] Meanwhile, the Ministry of Finance announced that the government will establish a fund of 100 billion renminbi ($15.3 billion) to facilitate capacity cuts. The fund will mainly be used to compensate and retrain laid-off workers. In addition to the 100 billion renminbi fund, the Ministry announced that China will adopt a combination of tax, accounting, and land administration policies to support mergers and acquisitions, debt restructuring, and bankruptcy reorganization in the coal and steel industries, including continuing export tax rebates to steel exporters.[7]
   
   On the merger front there also seems to be some movement. In June, the second and sixth largest steel producers in the world (Baosteel and Wuhan) announced preliminary merger talks.
   
   
   
   Of course, we have yet to see whether this will lead to anything, and even if it does, whether excess capacity is rationalized. Apparently, these plans are not exactly new (from Nikkei Asian Review):
   
   “
   It appears Beijing began elaborate preparations for an integration of the two steelmakers a few years ago. The country's state-owned companies are divided into two categories: central enterprises, whose shares are held by the State-owned Assets Supervision and Administration Commission of the State Council, China's cabinet; and enterprises owned by local governments. As two of the nation's three centrally controlled steelmakers, Baosteel and Wuhan Iron and Steel have been fierce rivals. But in July 2013, Ma Guoqiang, the president of Baosteel, was transferred to run Wuhan Iron and Steel. Ma became Wuhan's chairman in June last year, replacing Deng Qilin.
   
   We know what the main sticking point is, how to absorb the hundreds of thousands of workers who will lose their jobs in case of serious restructuring.
   
   Our main conclusion from this is that the overcapacity problem will very gradually diminish. If it gets worse, it would ignite further trade frictions and protectionist measures, so we see the risk/reward situation here as a favorable backdrop. Here is market realist:
   
   “
   US steel imports have fallen 31% YoY (year-over-year) in the first five months of 2016. Fewer imports have given US-based steel producers (NYSEARCA:XME) pricing power-at least in the flat-rolled space. Capitalizing on the trade duties, steel companies like AK Steel (NYSE:AKS), ArcelorMittal , Nucor (NYSE:NUE), and U.S. Steel Corporation (NYSE:X) hiked their base selling prices several times this year.
   
   The effects of this are starting to wear off though, but that doesn't mean Arcelor can't do anything to improve results.
   
   Voor vele grafieken en andere (meer)info, zie link
   
   seekingalpha.com/article/3999778-arce...
5. voda 18 augustus 2016 17:29

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   'Thyssenkrupp in gesprek met Salzgitter'
   
   Gepubliceerd op 18 aug 2016 om 17:21 | Views: 39
   
   ESSEN (AFN) - De Duitse staalgigant ThyssenKrupp praat met het eveneens Duitse Salzgitter over een fusie. De Duitse overheid heeft een voorkeur voor de samensmelting van de bedrijven om buitenlandse betrokkenheid van andere gegadigden buiten de deur te houden. Dat meldt Platts donderdag op basis van ingewijden.
   
   ThyssenKrupp is ook nog in gesprek met het Indiase Tata Steel, moederbedrijf van de hoogovens in IJmuiden, over een bundeling van de krachten. Onzekerheid over de levensvatbaarheid van de Britse tak van Tata zit vorderingen vooralsnog echter in de weg.
   
   Topman Heinrich Hiesinger van ThyssenKrupp heeft eerder aangegeven dat consolidatie op de Europese staalmarkt logisch zou zijn, vanwege de overcapaciteit, de zwakke vraag en grote export van goedkoop staal door China. De staalprijzen staan daardoor zwaar onder druk, waardoor staalproducenten in de kosten moeten snijden.
   
6. voda 21 augustus 2016 16:37

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   Gardau planning to idle Calvert plant – Report
   
   WPSD reported that the mayor of Calvert City says a local plant is planning on idling. Mayor Lynn Jones says employees at the Gerdau Ameristeel plant were notified Wednesday morning.
   
   Kim Selph, Communications and Public Affairs Director from Gerdau North America, confirmed that the company had meetings with employees to inform them they are discussing an idling of the plant. Selph says they are targeting an idling by the end of November.
   
   Selph also sent a statement from the company which reads “Gerdau has informed the Union and employees at the Calvert City mill that it is considering an idling of the facility. The industry continues to suffer significant losses due to a global overcapacity of steel, which has led to depressed prices and intense competition between producers. The Calvert City mill has been a particular challenge for cost-competitiveness, because it does not have a melt shop. It has made it very challenging to compete with companies expanding into the facility’s product range.”
   The company made several attempts over the past few years to make the facility successful. Unfortunately, these efforts have not led to increased cost-competitiveness.
   
   Mayor Jones says idling the plant could mean the lost of more than 100 jobs.
   
   Gerdau Ameristeel has operated the steel mill since the company acquired it in 2004. In 2010, the company made a $25 million investment into the plant to install a new re-heat furnace
   
   Source : WPSD
   
7. voda 21 augustus 2016 16:38

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   Trade unions agree with amendment to collective deal at US Steel Košice
   
   Spectator reported that layoffs at US Steel Košice continue, but despite general discontent the company’s trade unions organisation is satisfied with the fact that it has managed to agree on an amendment to the collective agreement with the management of the steel mill. Layoffs began in April and have led to US Steel cutting 28-29 jobs monthly.
   
   The trade unions discussed at an extraordinary session on August 15, the dismissal of employees who due to changes in organisational structures in the post of vice-president for sales and marketing are to be made redundant as of September 1st
   
   Redundancies are always difficult to deal with, and the union has adopted a critical attitude towards them, said Košice trade unions head Mikuláš Hintoš. He said “Therefore, we submitted certain proposals to the employer that would by means of an amendment to the collective agreement provide better financial conditions for employees whose contracts are terminated by agreement.”
   
   Moreover, he believes that the adopted amendment will also increase motivation among employees from the administration department and among technical and accounts staff to switch to manufacturing posts with higher salaries.
   
   All this should help to bring an end to the process of employment restructuring at the company, added Hintoš
   
   Source : Spectator

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8. voda 21 augustus 2016 16:39

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   Chinese firm Tidfore Heavy Equipment Group to invest in Uttam’s Wardha plant
   
   Financial Express reported that Uttam Group said that it has signed an investment agreement of up to USD 150 million with Chinese firm Tidfore Heavy Equipment Group Co Limited. The investment will be in the form of equity for Uttam Group’s Wardha Expansion Project undertaken in conjunction with POSCO.
   
   The agreement was inked in presence of Sun Yin Sheng, Secretary, Hunan State and senior officials from steel giant POSCO and SBI
   
   Uttam Galva Metallics, part of the Miglani family-led Uttam Group and South Korea-based POSCO, had signed a Memorandum of Agreement (MoA) in December 2015. This was to deploy fine ore reduction process (an alternative iron making technology using iron ore fines) and CEM (a process to replace a large portion among CR products with thin hot rolled products) technologies at the company’s Wardha plant in Maharashtra.
   
   As a result of the expansion, its Wardha Steel Complex will become an integrated steel unit with capacity of 1.50 million tonnes per annum.
   
   Source : Financial Express
9. voda 21 augustus 2016 16:40

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   Russia may appeal to WTO over EU & US anti-dumping duties on Russian Steel
   
   Sputnik reported that Director of the Department for Trade Negotiations of the Ministry of Economic Development Maxim Medvedkov told Sputnik in an interview that Russia is likely to appeal to the World Trade Organization dispute settlement body regarding the European Union's anti-dumping duties imposed on Russian cold-rolled steel,
   
   He said "In our opinion, it [investigation] was carried out in violation of WTO rules, as we have repeatedly stated in contacts with the EU, both on the political and expert levels. However, the European Commission at the end of July 2016 introduced the final anti-dumping duty, practically ignoring our arguments and closing the EU market for the Russian steel companies in a manner that does not comply with WTO.”
   
   The director added that anti-dumping measures must be applied according to specific procedures ignored by Brussels and "therefore in this case we are most likely to go to court."
   
   Medvedkov noted that in recent years more and more violations had been observed during the foreign countries investigations against Russian steel products, most notably, the EU anti-dumping investigation in respect of the cold-rolled steel.
   
   He said "Since the formal investigation has not been completed yet, the issue of the WTO dispute settlement procedure involvement is not on the agenda. But we do not exclude such possibility, if the final decision will be made without the elimination of the WTO rules violations.”
   
   In July, the US Department of Commerce, as a part of the preliminary measures, has determined the level of anti-dumping and countervailing margins for suppliers of cold-rolled steel from Russia, as well as a number of other countries. So, the anti-dumping margin for Severstal PJSC was calculated as 13,36 percent while for Novolipetsk Steel just as 1,04 percent. On August 4, Russian producers of non-stainless steels, including Magnitogorsk Iron & Steel Works OJSC, Novolipetsk Steel OJSC and Severstal PJSC, were hit by the European Union with five-year tariffs as high as 36.1 percent based on a conclusion that Russian imports unfairly undercut manufacturers in Europe.
   
   Source : Sputnik
10. voda 21 augustus 2016 16:41

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    SAIL to dump Khammam steel plant plan and may set up pellet unit
    
    The Telegraph reported that Steel Authority of India Ltd, which had planned a 3 million tonne steel plant at Khammam in Telangana as part of promises made by the Centre while bifurcating Andhra Pradesh, may instead set up a 1 million-tonne pelletisation plant in the southern state.
    
    The proposed peletisation plant will depend on low-grade iron ore found locally in the Telangana region. Steel ministry officials said even the smaller pelletisation plant would be a financial strain on SAIL
    
    However, the state government is still trying to convince SAIL to go ahead with the promised integrated steel plant and is talking to the central government to help set up a railway link with iron mines in Chhattisgarh.
    
    The 3 million tonne steel plant proposal was set forth last year to satisfy a clause in the Andhra Pradesh Reorganisation Act, 2014. This clause, said SAIL, seeks to examine the feasibility of setting up an integrated steel plant in the state. SAIL was asked to consider building the plant in a consortium with two other central PSUs at Khammam in Telangana. However, after extensive surveys it was found that local iron ore was not suitable to make high-grade steel.
    
    Source : The Telegraph
    
12. voda 21 augustus 2016 16:42

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    Chinese steel production in 2016 to remain close to 2015 levels
    
    FinancialReview reported that the sizeable decline predicted for China’s crude steel production this year has failed to eventuate, with some even forecasting output could rise marginally. The unexpected change is explained by strong Chinese exports.
    
    At the start of the year, MySteel, was predicting a decline in crude steel production of 4 per cent to around 770 million tonnes.But in recent weeks it has revised this forecast to a decline of just 0.5 per cent, which would leave steel production basically flat at around 800 million tonnes this year.
    
    MySteel’s chief information officer Xu Xiangchun said “The unexpectedly strong production so far this year is mainly due to Chinese steel exports.”
    
    Mr Xu said domestic demand had also been better than expected. He attributed this to a pick-up in housing construction, helped by easier access to credit for developers.
    
    Overall crude steel production was down by 0.5 per cent to 470 million tonnes over the first seven months of the year. Over the first seven months of the year, China exported 67.4 million tonnes of steel, up 8.5 per cent from the same period last year.
    
    China’s has more than 1.1 billion tonnes of steel making capacity, compared with annual production of around 800 million tonnes.
    
    Source : FinancialReview
    

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13. voda 21 augustus 2016 16:44

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    Debt in global steel sector reaches record highs - Ernst and Young
    
    The net debt of the top 30 steel companies globally is at a record high of more than USD 150 bilion, according to EY’s Debt in the steel sector report. Debt in the steel sector rose significantly between 2008 and 2013 before experiencing some relief in 2014. That relief was short-lived, however, as the pressure of excess capacity, rapidly cooling demand in China and the stronger position of steel customers drove a 30% decline in steel prices in 2015.
    
    Source : Strategic Research Institute

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14. voda 21 augustus 2016 16:45

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    Global steel glut could take a generation to fix – Mr Wolfgang Eder
    
    Mr Wolfgang Eder, who doubles as CEO of Austrian steel group Voestalpine and head of the World Steel Association in a recent interview with Nikkei said that up to 35% of global steelmaking capacity is superfluous and that the sector is so entwined with politics, however, that it could take many years to solve the problem.
    
    Q: Chinese state-owned steelmakers have been blamed for the global glut. How should this problem be solved?
    
    A: In order to reduce this pressure and find a more balanced situation between supply and demand, it will be necessary to cut capacity and production. Thirty to 35% of global steelmaking capacity can be considered as overcapacity. Because of the proximity to politics, it is, however, extremely difficult to implement any restructuring, as politics -- strongly supported by unions -- is never in favor of any reduction of workforce.
    
    This is the key problem we are facing globally at the moment in the steel industry. Everybody knows that significant downsizing is unavoidable and it simply has to be done. We are still only at the beginning of this struggle between restructuring needs and political interests. A real solution to these problems will take many years. In my opinion, due to the dimensions of the problems, it's a question of a generation rather than just a few years.
    
    In the long run, it doesn't help to subsidize the industry, thereby keeping outdated operations running. A 50- or 100-year-old steel plant is not competitive compared to a modern one just because it is state-supported. When I look back at how the situation developed in Europe in the 1980s, when the steel industry was still heavily subsidized in every country, there was a point at some time when the states simply couldn't afford the enormous amounts of subsidies any longer. Several parts of the world might see a similar situation coming up right now.
    
    Q: Two major Chinese steelmakers, Baosteel and Wuhan Iron and Steel, recently announced restructuring talks that could lead to a merger. Is this a good sign for your industry?
    
    A: In my function as chairman of World Steel, I am not in the position to make any specific comments on Chinese or other companies. But in general, I think it is very likely that we will see consolidation, meaning more mergers or takeovers in China -- and not only there. The question is whether this really helps to improve the situation of the steel industry. Does this really mean that we will see less capacity in the future? Or is it just what we saw in Europe since 2000 -- a legal consolidation?
    
    What's decisive is: Is there only a legal merger or takeover process going on, or are there real structural changes taking place as well? Are capacities taken out of operations? Are plants closed? Have the cost positions of merged entities improved? Do they have advantages in terms of quality levels, of logistics or technology? One has to look behind the curtain. I think it has not yet been published what the structural intentions of Wuhan and Baosteel are.
    
    A further question in China is: To what extent is the industry subsidized? Real and/or presumed subsidies are a core reason for the anti-dumping cases we have seen in many countries recently. It seems that Europe -- which has been lagging behind most other regions in the world -- is now catching up in that respect. I would really appreciate it if we had more cost transparency in the steel industry throughout the world, according to WTO standards. If it were evident that companies are doing well without subsidies, just by having a better cost structure than others, we wouldn't need to argue about penalties.
    
    Source : Nikkei
    

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15. voda 22 augustus 2016 16:33

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    Mesco expanding to produce value added steel as pig iron is unviable
    
    Business Standard reported that Mideast Integrated Steel Ltd has reaffirmed its commitment to expand steel output at its facility at Kalinganagar in Odisha. The company said it had placed major orders for expansion and was awaiting environment clearance for the planned ramp-up in production. Mesco Steel is shifting focus from pig iron to value-added steel products as pig iron business had turned unviable.
    
    It said “As announced earlier, we are on our way to expansion. Major orders have been placed for expansion, and designing of the plant is underway, targeted to full capacity production by the end of 2017. We are also awaiting environmental clearance for the same. Currently, Mesco produces pig iron which is not viable even though we have been running this plant for past 12 years. Therefore there is a need for producing value added products for which expansion is required. It does not make sense to lose earned money in producing a product which incurs losses.”
    
    Earlier, Mesco Steel had announced to expand its nameplate capacity in steel making from 1 million tonne per annum to 3.5 million tonne per annum. The expansion is estimated to cost around INR 12,000 crore. The expansion plan includes revamp of Maithan Ispat, an ailing steel company which it acquired in March 2015.
    
    Source : Business Standard
16. voda 22 augustus 2016 16:35

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    Tata Steel drops plan for ferrochrome complex at Gopalpur plant
    
    Business Standard reported that Tata Steel has dropped plans to set up a ferrochrome complex at Gopalpur in Odisha. Tata Steel’s decision to scrap the project was influenced by concerns over raw material supplies beyond 2020, when the company’s lease of the Sukinda chromite mine in Jajpur district ends.
    
    According to the changed Mines and Mineral Development and Regulation Act, this mine will be put up for auction after 2020. Uncertainty over the mining rights made setting up a large ferrochrome capacity a risky proposition for Tata Steel, a source said. The company has gone ahead with the smaller plant because it is being promoted as an anchor investment for Tata Steel’s Gopalpur industrial park.
    
    But will build a plant with a capacity of 55,000 tonnes at the same place. This unit is scheduled for commissioning by the first week of September. Work on the 55,000 tonne plant at Gopalpur, built at a cost of INR 542 crore, is nearing completion and the unit is slated for commissioning shortly.
    
    Mr Arun Mishra, vice-president, Tata Steel said “The construction of the plant is complete. Work on power connectivity is on. We may commission the plant by the first week of next month.”
    
    Besides the units at Gopalpur, Tata Steel has two ferrochrome plants in Odisha, one at Bamnipal of 65,000 tonnes and the other at Athgarh of 55,000 tonnes
    
    Source : Business Standard

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17. voda 22 augustus 2016 16:36

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    Odisha to put up 3 iron ore blocks for auction in January 2017
    
    Business Standard reported that the after readying to auction five blocks- a mix of limestone and manganese blocks for auctions, Odisha government has lined up three iron ore blocks and one bauxite deposit for auctions in January 2017 keeping in sync with its initiative to speed up auction of mineral blocks. In 2017-18, an additional eight mineral blocks in the state are expected to go under the hammer.
    
    Odisha’s steel & mines minister Prafulla Mallick said that “The blocks in question have achieved the G2 level exploratory stage- a condition mandatory to make them eligible for auctions as per Mineral Auction Rules. A notification for auctioning these five blocks would be issued either at the end of August or early next month.”
    
    The state cabinet recently approved the formation of Odisha Mineral Exploration Corporation as 100% subsidiary of its mining PSU- Odisha Mining Corporation. The company formed to speed up exploratory work of mineral blocks, would have an authorised capital of Rs 20 crore and initial paid-up capital of Rs 5 crore.
    
    So far, only one iron ore block has been auctioned in Odisha. The Ghoraburhani-Sagasahi iron ore block already auctioned in the state has 99.54 million tonnes of iron ore including 84.92 million tonnes high grade ore of 63.23% iron content. Essar Steel emerged as the preferred bidder, quoting a premium of 44.35% higher than the reserve price.
    
    Source : Business Standard
    
18. voda 22 augustus 2016 16:37

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    Bohai Steel USD 28.9 billion debt plan to get Tianjin government support
    
    Reuters reported that Chinese Bohai Steel Group, the indebted state-owned conglomerate, may receive help from a local government bailout fund to restructure its debts. Online financial magazine Caixin said at the weekend that
    Bohai Steel, which was created in 2010 through the combination of four manufacturers, holds liabilities of CNY 192 billion (USD 28.9 billion) from 105 creditors, alongside assets of nearly CNY 290 billion
    
    As per report, the Tianjin government plans to create a local asset manager to assist in the debt workout of Bohai Steel, alongside other troubled Tianjin enterprises
    
    Bohai Steel creditors include the Tianjin branch of the Bank of Beijing Co Ltd, the magazine reported earlier, and several trust companies such as Tianjin Trust, Beifang Trust and Guomin Trust.
    
    China has been moving to empower special purpose restructuring managers, while accelerating debt-for-equity swaps with creditors, in a bid to manage rising state sector debt.
    
    Source : Reuters
    

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19. voda 22 augustus 2016 16:39

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    Danieli to reconstruct melting furnace for AGHA Steel Industries in Pakistan
    
    The Italian Embassy in Islamabad hosted the signing ceremony of the contract for the meltshop enhancement project between Agha Steel Industries, Pakistan and Danieli, Italy. The project includes the complete reconstruction of the Electric Arc Furnace (EAF) and a new fume treatment plant.
    
    Source : Strategic Research Institute

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20. voda 22 augustus 2016 16:39

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    The profitability of Indian steel industry will improve – Mr TV Narendran MD Tata Steel
    
    In this interview with ET Now, Mr TV Narendran, MD of Tata Steel talks about MIP extension and steel industry, While answering to a question about further extension of MIP, he said “It is helpful for the industry, but the prices in India will be determined by the demand- supply situation. It certainly gives the industry some respite against cheap imports. The industry is very appreciative of this support from the government.”
    
    Q - We are hearing now that MIP extension will not be sort beyond October. Will that come as a jolt to you or are you prepared for that?
    
    A - I think the government is looking at it more comprehensively. They have multiple options. There is anti-dumping duty, safeguard duty, MIP. It does not matter what is there and what is not there as long as the problem is looked at holistically, which the government is doing, and comes out with a solution which addresses the concerns of the industry.
    
    Q - Moody's report says that Indian steel makers are in a better position as far as profitability and steel demand is concerned. What is your take on that and on steel prices?
    
    A - The demand in India is certainly growing and India is one of the more exciting markets from a demand growth point of view. We have always said that the cost position of the Indian steel industry is very good. Indian steel industry is very competitively positioned in a market which is growing in demand, which has some support in form of import duties or anti-dumping duties or safeguard duties. So the profitability of the industry will certainly improve.
    
    Source : Economic Times
    
21. voda 22 augustus 2016 16:40

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    US DOC extends preliminary antidumping rulings for CTL steel plates
    
    Following a request of extension by the US domestic petitioners ArcelorMittal USA, Nucor and SSAB Enterprises, US Department of Commerce has postponed its preliminary antidumping duty determination for nine of the 12 countries involved in anti dumping probe on cut to length steel plates from Austria, Belgium, China, France, Germany, Italy, Japan, South Korea and Taiwan
    
    Source : Strategic Research Institute