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1. voda 22 augustus 2016 16:41

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   Kavir Damghan Steel chooses SL/RN technology to produce DRI
   
   Iranian Financial Tribune reported that Kavir Damghan Steel Company is to employ the so-called Stelco-Lurgi/Republic Steel-National Lead (SL/RN) method to produce direct reduced iron. Mr Mehdi Ranjbari MD of company said that the technology, which will be imported from India, reduces production costs and increases output
   
   The new production method will enable KDSCO to forego investment in expanding pellet production while adding 200,000 tonnes to the plant’s annual 300,000 tonne DRI output, he added. SL/RN process is the most widely used coal-based direct reduction process in the world.
   
   Its features include the ability to use a wide-range of ferrous materials such as lump iron ore, pellets, beach sand or ilmenite ore and solid carbon to produce DRI. SL/RN’s waste gas can also be recovered and reused through steam generation
   
   Source : Financial Tribune
2. voda 22 augustus 2016 16:42

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   Danieli signs MoU to revamp meltshop of Khorasan Steel Company
   
   Iranian Financial Tribune reported that Italian Danieli group is set to revamp Khorasan Steel Company’s electric arc furnace technology to boost the steel mill’s steel production capacity. The two companies’ representatives signed a memorandum of agreement in Khorasan Razavi Province on last Wednesday.
   
   The company says the new EAF technology, which is expected to take one year to install, will also reduce the mill’s raw material and energy consumption. KSCO says its steel output has reached nominal capacity and that it is in dire need of improved technology to expand.
   
   Established in 1989 by the giant Japanese steelmaker Kobe Steel, KSCO produces 550,000 tonnes of rolled products, 630,000 tonnes of billets, 5.2 million tonnes of pellets and also 5.2 million tonnes of iron ore concentrate per year
   
   Source : Financial Tribune
3. voda 22 augustus 2016 16:45

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   Mr Mackenzie recalls Samarco mine tragedy as BHP cost focus starts to pay off
   
   The Australian reported that BHP Billiton’s share price has worked its way to a nine-month high in response to rallying commodity prices and the group’s “extreme’’ focus on productivity and cost-cutting under chief executive Mr Andrew Mackenzie.
   
   Market capitalisation now stands at $113 billion — a far cry from the beaten up $75bn low of mid-January. But there has been no strut and swagger from Mr Mackenzie in response to either the $38bn value uplift or the prospect BHP’s free cashflow could more than double in financial 2017 to $US7bn on current spot prices.
   
   The reason is the lasting impact of the 19 lives lost last November when the tailings dam at BHP’s half-owned Samarco iron ore operation in Brazil collapsed.
   
   Asked at a London briefing for last week’s annual profit announcement how he felt now the grind of recalibrating BHP in recent years seemed to be paying off in terms of earnings capability in the post-boom mining world, Mr Mackenzie turned first to the ­Samarco tragedy.
   
   Mr Mackenzie said that “I would not want anybody to have to deal with the difficulties of Samarco. People had died and there has been huge suffering. We are doing the best job we can to right those wrongs.”
   
   He said that “There are over 3000 people working to rebuild infrastructure, provide community and social ­services, remove the tailings and increase the defences around the failed dam ahead of the coming wet season. We are continuing to work with Samarco, hand in glove, to restore conditions as quickly as possible. While some of the aspects of the plan are going to be delivered quickly, others are going to take years.’’
   
   Only then did Mr Mackenzie turn to the factors behind the share price renaissance. Commodity price recovery has been a telling factor, with gains in iron ore, coal, oil and nickel in the past three months alone adding $US2bn to annual free cashflow.
   
   The good cheer is showing up elsewhere in the market, with fellow miners Rio Tinto and Andrew Forrest’s Fortescue also enjoying strong buying support as iron ore in particular continues to defy the sceptics by trading at more than $US60 a tonne.
   
   Both BHP and Rio have warned that rising supply from Brazil and Gina Rinehart’s Roy Hill means iron ore prices will be tested in coming months.
   
   But for BHP, a retreat in prices for the steelmaking raw material would not be the challenge it could be for Rio with its greater reliance on iron ore, and Fortescue’s total reliance. And it is backing the idea that its main differentiator to the other major miners — its oil and gas business — could be of growing interest to investors if, as it suspects, the oil price (and copper) is headed higher.
   
   As it was, exceptional charges for the Samarco disaster and the impairment of the US onshore oil and gas business were the main factors in BHP’s June year bottom line coming in at a loss of $US6.38bn — its biggest ever loss.
   
   Mr Mackenzie encouraged people to look beyond the headline number. “I am sure it will get plenty of coverage and we are very disappointed about it. But many of the items are very exceptional and clearly won’t be repeated,’’ he said.
   
   He said that “The underlying performance of the business remains strong and is becoming stronger.’ Cost-­cutting and the relentless productivity drive has had more to do with that than the market has been giving BHP credit for.”
   
   That was reflected in BHP’s underlying earnings being higher than the market expected, although its revenue line was lower than analysts had forecast.
   
   And according to Mr Mackenzie, there is more work to do. “I am still not satisfied because I still see utilisation rates that are far short of what we should ideally get to.
   
   Source : The Australian

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4. voda 22 augustus 2016 17:08

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   Wereldwijde staalproductie neemt toe
   
   Gepubliceerd op 22 aug 2016 om 16:55 | Views: 182
   
   BRUSSEL (AFN) - De wereldwijde productie van staal is in juli met 1,4 procent toegenomen op jaarbasis tot 133,7 miljoen ton. Dat meldde de World Steel Association maandag.
   
   China produceerde vorige maand 66,8 miljoen ton staal. Daarmee is het land goed circa de helft van de totale staalproductie. De Japanse staalproductie kwam uit op 8,9 miljoen ton. Ook hier was sprake van een lichte stijging.
   
   De productie in de Europese Unie bedroeg in juli krap 13 miljoen ton, hetgeen een daling betekende met bijna 5 procent. De Duitse productie was 3,4 miljoen ton, een min van 6,1 procent vergeleken met een jaar eerder. Die van Frankrijk zakte met 4,7 procent, naar 1,2 miljoen ton. De productie in het Verenigd Koninkrijk daalde met ruim 27 procent tot 661.000 ton. In Nederland werd wel meer staal geproduceerd. Hier werd een plus gemeten van 0,8 procent tot 596.000 ton.
   
   De staalproductie van de Verenigde Staten was goed voor 6,9 miljoen ton, een krimp van ruim 2 procent. Rusland produceerde 6,1 miljoen ton. Dat is bijna 1 procent meer dan een jaar eerder.
   
5. voda 22 augustus 2016 19:27

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   ArcelorMittal South Africa to pay $110M in antitrust settlement
   
   Aug 22 2016, 09:10 ET | About: ArcelorMittal (MT) | By: Carl Surran, SA News Editor
   
   ArcelorMittal's (NYSE:MT) South African unit agrees to pay a 1.5B rand ($110M) fine for colluding to fix steel prices, the country's antitrust authority says.
   
   The South African unit admitted guilt on allegations of fixing prices, allocating customers and sharing commercially sensitive information on long-steel products, and admitted to fixing scrap-metal prices.
   
   The unit, which has not made a profit in half a decade, also agreed to 4.6B rand in capital spending over five years as part of the settlement.
   
   seekingalpha.com/symbol/MT
   
6. voda 23 augustus 2016 16:37

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   Canada launches anti dumping probe on rebar imports
   
   The Canada Border Services Agency has launched an anti-dumping investigation into concrete reinforcing bar, or rebar, shipped into Canada from several areas of Europe and Asia.
   
   Source : Strategic Research Institute

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7. voda 23 augustus 2016 16:38

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   Metalloinvest increases iron ore pellet shipments to NLMK
   
   Metalloinvest is increasing shipments of pellets to Novolipetsk Steel (NLMK) by 900,000 tonnes in the second half of 2016. Lebedinsky GOK and Mikhailovsky GOK will supply the products to NLMK’s main production site in Lipetsk. The total volume of pellet shipments this year will amount to 5.4 million tonnes.
   
   Source : Strategic Research Institute
   

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8. voda 23 augustus 2016 16:39

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   AK Steel introduces NEXMET family of next generation high strength steels
   
   AK Steel announced that it is launching NEXMET™, an innovative family of high strength steels for use in automotive lightweighting applications. These products are specifically designed to assist automotive original equipment manufacturers (OEMs) in meeting 2025 U.S. Corporate Average Fuel Economy (CAFE) targets.
   
   Source : Strategic Research Institute
9. voda 23 augustus 2016 16:40

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   Delhi High Court extends bail for Rathi Steel and Power officials
   
   Business Standard reported that the Delhi High Court on Monday extended the bail of three Rathi Steel and Power Ltd officials, chief executive officer Mr Udit Rathi (aged 34 years), managing director Padeep Rathi (aged 60 years) and assistant general manager Mr Kushal Aggarwal (aged 35 years).
   
   On July 26, the three RSPL executives were found guilty by a special Central Bureau of Investigation (CBI) court in connection with the coal block allocation scam involving the Kesha North coal block in Chattisgarh. Udit Rathi was sentenced for 3 years of imprisonment, Pradeep Rathi for 3 years and Kushal Aggarwal for 2 years under the Section 420 (cheating) and Section 120B (criminal conspiracy) of the Indian Penal Code, 1860. The court also imposed fines of INR 50 Lakh, INR 25 Lakh and INR 5 Lakh respectively, as well a INR 50 Lakh fine on the company.
   
   The three RSPL officials had been taken into custody after the special court adjudication, but were granted bail the next day on personal bonds of INR 2 Lakh each to allow them to file appeals before a higher court. The court had also suspended their sentence by one month to allow for the appeal.
   
   On August 17, the Delhi High Court had sought the CBI’s response to the challenge of the trial court order by the RSPL executives. In Monday’s hearing, Justice Mukta Gupta has extended the bail previously granted to the three officials and suspended the special court sentence till further hearing on December 5 and 6.
   
   Source : Business Standard
   
10. voda 23 augustus 2016 16:41

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    Tokyo Steel rolls over steel prices for September
    
    Reuters reported that Japan's top electric arc furnace steelmaker Tokyo Steel Manufacturing announced that it would keep product prices unchanged for the third month in September, reflecting a slow recovery in its local market.
    
    Tokyo Steel's managing director, Mr Kiyoshi Imamura, told reporters "There are signs of an improvement in export and domestic markets, but we want to wait and see to have a clear picture of the trend in markets.”
    
    He added “Steel prices in overseas market are on the rise led by price hikes by Chinese mills, helping Tokyo Steel's exports.The Japanese market is also expected to gradually improve as inventories of some products are falling.”
    
    Tokyo Steel's pricing strategy is closely watched by Asian rivals such as Posco, Hyundai Steel Co and Baosteel, which all export to Japan.
    
    Source : Reuters
    
12. voda 23 augustus 2016 16:43

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    Continued drop in Indian sponge iron production pulls global DRI output in 7 months down by 13% YoY
    
    According to latest report from worldsteel, global DRI production dipped by 12.5% YoY further in July 2016 as Indian DRI output is continuing to move down. As a result, global DRI production during first 7 months of 2016 has dipped by 13.2%.
    
    Source : Strategic Research Institute

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13. voda 23 augustus 2016 16:44

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    ArcelorMittal SA fined USD 111 million for price-fixing
    
    Published on Tue, 23 Aug 2016
    
    Xinhua reported that South Africa's Competition Commission on Monday imposed a ZAR 1.5-billion (About USD 111 million) fine on ArcelorMittal South Africa, the country's largest steel maker, for price-fixing and collusion in the steel industry. Besides agreeing to pay the fine, AMSA will, as part of the settlement with the authorities, limit its EBIT margin to a cap of 10 percent for flat steel products sold in South Africa.
    
    This is the largest single fine imposed against a single company thus far by the competition authorities.
    
    Minister of Economic Development, Ebrahim Patel welcomed the announcement of the fine, saying the action by the competition authorities is part of a crackdown against abuse of market power and price-fixing that undermines the performance of the economy. He said "South Africa's competitiveness and industrial performance require an efficient basic steel supplier industry. High levels of concentration together with collusion undermine our national goals.”
    
    ArcelorMittal SA admitted to having been involved in the long steel and scrap metal cartel, fixing prices on steel for a period of five years.
    
    Source : Xinhua
    

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14. voda 23 augustus 2016 16:45

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    China scraps antidumping duties on high performance SS pipes from Japan & EU
    
    Chinese Ministry of Commerce announced on Monday that it would scrap anti-dumping duties on high-performance stainless steel seamless tubes imported from Japan and the European Union in line with a World Trade Organization ruling against China last fall, effective immediately.
    
    Source : Strategic Research Institute

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15. voda 23 augustus 2016 16:46

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    Global crude steel production grows YoY in July on Chinese recovery
    
    World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 133.7 million tonnes in July 2016, 1.4% up on July 2015 as Chinese crude steel output in July surged by 2.8% YoY to 66.8million tonnes, reversing the downward trend in recent months.
    
    Source : Strategic Research Institute

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16. voda 24 augustus 2016 16:11

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    Glencore verkleint nettoverlies
    
    Concern boekt vooruitgang met terugbrengen schuld.
    
    Glencore heeft het nettoverlies verkleind in het eerste halfjaar. Dit bleek woensdag uit de financiële resultaten van het grondstoffen en mijnbouwconcern.
    
    Het nettoverlies werd in de eerste zes maanden van 2016 teruggebracht van 676 miljoen dollar naar 369 miljoen dollar.
    
    Het aangepaste bedrijfsresultaat (EBITDA) daalde echter 13 procent naar 4,0 miljard. De omzet daalde 6 procent naar 69,4 miljard, grotendeels door lagere grondstofprijzen en een lagere koper, zink, kool en olieproductie dan in dezelfde periode een jaar eerder.
    
    Glencore worstelt met dalende grondstofprijzen en kwam in reactie daarop vorig jaar september met maatregelen om het tij te keren.
    
    Maatregelen
    
    Glencore's CEO Ivan Glasenberg zei "aanzienlijke voortgang" geboekt te hebben in het verlagen van het schuldniveau en op koers te zijn om eind dit jaar de ten doel gestelde vermindering naar een niveau tussen 16,5 miljard en 17,5 miljard dollar te bereiken. Eind juni stond de nettoschuld op 23,6 miljard dollar, teruggebracht van de 25,9 miljard dollar eind december.
    
    Glasenberg benadrukte verder grotendeels de beoogde desinvesteringen te hebben doorgevoerd, die 4 tot 5 miljard moeten opleveren.
    
    Door: ABM Financial News.
    
    Info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
17. voda 24 augustus 2016 16:23

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    Iron ore prices are sure to tank by 2016 end - Citi & Morgan Stanley
    
    Beyond predictions, one thing is certain that iron ore has spent much of this year defying analyst's sustained slump forecast. Iron ore prices continued to push higher on Tuesday as the spot physical price for benchmark 62% fines rose by a further 0.85% to USD 61.75 a tonne. Chinese iron ore futures (January 2017 contract) at Dalian Commodities Exchange also pushed higher by 0.89% to CNY 455.5 suggesting that the gains in physical may extend further. While the price action recently is nothing short of bullish, Citibank's commodity research team believes that the so-called "hot commodity" of 2016 will cool significantly in the months ahead, predicting that prices will face strong headwinds towards the end of 2016 and most of 2017. Citi's base case for iron ore is for prices to average USD 55 in H2'16 before falling in 2017 to an average of USD 45.
    
    Citi said “Iron ore market fundamentals have provided little support to this rally, as seaborne supply remained strong from low cost production, and inventories at Chinese ports built 11.5 million tonnes YTD while those at mills are generally stable. Instead, iron ore prices largely followed a rally of Chinese steel product prices, which was likely a result of strong property new starts and investment, robust growth of auto production, and temporary closure of mills due to key events and environmental regulations.”
    
    Citi believes that the recent upward momentum in prices should persist over the next one to two months before reversing towards the end of the year. It said “We expect steel to remain in the driver’s seat of leading price movements in the ferrous metal space, unless seaborne supply faces large disruptions. Thus our bearish call on iron ore stems primarily from a bearish steel call. The underlying current Chinese steel price rally is itself unsustainable. Steel end-user demand, particularly long product demand, should tumble further in 4Q, as key economic indicators have seen growth peaking around 2Q with risks to the downside for the rest of the year. Continued government intervention should keep steel mill run rates range-bound for the rest of the year, but this may fail to support a further price rebound if demand tanks.”
    
    It added “Iron ore prices still have to navigate through the ongoing rally, which may persist until early October thanks to the upcoming peak season in construction and this might allow prices to average USD 59 for Q3’16.”
    
    Morgan Stanley recently issued an even more bearish outlook for iron ore and noted that iron ore prices have on average dropped in September, October and November over the past 10 years, and it also expects ore prices to become increasingly capped during H2 by ongoing supply growth. Morgan Stanley analysts predict that iron ore prices may tumble back to USD 40 during H2 as the approach of winter in China typically slows steel demand and output. The firm maintains its forecasts for iron ore to average USD 45 this quarter and USD 35 in Q4, with a base-case H2 estimate of USD 40.
    
    Their view is backed by BHP Billiton, the world’s largest mining company and the No 3 iron ore producer, which has repeatedly said prices for the commodity will remain low for at least another ten years due to oversupply.
    
    Prospects for increased supply include output from Australian billionaire Ms Gina Rinehart's Roy Hill project in the Pilbara, as well as expansions by top shipper Vale SA in Brazil, which is set to start up its SI ID project by the end of 2016.
    
    Source: Strategic Research Institute
18. voda 24 augustus 2016 16:24

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    Southern Steel’s loss grows on asset write-off
    
    The Malaysian Star reported that Southern Steel Bhd’s cumulative loss widened substantially in the fourth quarter as a result of a RM 141 million write-off of property, plant and equipment. The write-off, which followed its unit Southern HRC Sdn Bhd’s recent decision to terminate a RM 427million manufacturing contract with Danieli & C Officine Meccaniche SpA, resulted in the billet and steel bar maker posting a Q4 net loss of RM 112.67 million against a loss of RM 1.24 million a year earlier.
    
    In a filing with Bursa Malaysia, Southern Steel said this caused the full-year loss attributable to its owners to balloon 88.1% to RM 221.15 million.
    
    On July 7, Southern HRC cancelled the contract given to Danieli, an Italian firm that supplies equipment for the metal industry, for the design, manufacture and supply of a thin slab casting unit for producing hot rolled coils.
    
    While Southern HRC considers that it has credible grounds to end the contract and seek damages from Danieli, it has written off RM 141 million representing the total capitalised direct attributable costs in commissioning the plant and the capitalised borrowing costs incurred for the plant.
    
    Source : The Star
    
19. voda 24 augustus 2016 16:27

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    Islamabad Chamber of Commerce and Industry urges EPA for restoration of closed steel industrial units
    
    Pakistan Today reported that Islamabad Chamber of Commerce and Industry has called upon the Pakistan Environmental Protection Agency for restoration of closed steel industrial units as closure of some steel units by the EPA has rendered hundreds of workers jobless apart from creating lot of harassment in the business community.
    
    ICCI President Mr Atif Ikram Sheikh while addressing a meeting said that the industrialists are ready to cooperate with the Pak-EPA for controlling pollution and ensuring compliance of its environmental standards to keep the environment of industrial areas healthy and pollution free.
    
    He said that the steel industry plays an important role in the development of local economy as it is generating employment, making significant contribution to tax revenue and promoting economic activities, therefore, closing these industrial units on account of environment pollution issue is not an optimum solution, he added.
    
    The ICCI president emphasised that Pak-EPA should avoid such strong-arm tactics in the larger national interest as closing industries would discourage new investment. He urged upon the Pak-EPA to give at least 90-day period to the existing and new steel industrial units so they could get the required equipment installed for emissions control in order to promote a healthy environment.
    
    The steel industrialists assured that if Pak-EPA allowed re-opening of closed units, all the cases against it with the courts shall be withdrawn with immediate effect.
    
    Source : Pakistan Today
    
20. voda 24 augustus 2016 16:28

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    Tariffs fail to reduce cheap steel imports into Vietnam
    
    Vietnam Net reported that despite imposing additional tariffs on imported steel billets and rods, Vietnam has failed to stem the influx of imported steel, mainly from China whose suppliers are offloading products cheaply due to oversupply in their domestic market. According to data from the General Statistic Office, Vietnam has imported 11.1 million tonnes of iron and steel in the first seven months of this year- increases of 1.1% and 33.3% YoY, with China ccounting for 60%
    
    Mr Nguyen Van Sua, vice chairman of the Vietnam Steel Association, said “The introduction of additional tariffs has helped local steel makers improve their businesses in the first months of this year. However, the statistics show that they are still facing big pressure from a flood of Chinese imports.”
    
    Vietnam imposed additional tariffs of 23.3% on imported steel billets in the first year starting from March this year. Since starting this month, the rate on steel rods has been 15.4%
    
    Source : Vietnam Net
21. voda 24 augustus 2016 16:29

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    Bailadila iron ore Deposit 4 to feed NMDC steel plant at Nagarnar
    
    The Pioneer reported that NMDC Ltd has proposed to use its mine lease area at Deposit number 4 located at Bailadila range of hills at Bhansi near Bacheli in South Bastar’s Dantewada district in Chhattisgarh for meeting the raw material requirement 'exclusively' for its upcoming 3 million tonne Integrated Steel Plant at Nagarnar
    
    NMDC officials informed that the remaining iron ore quantity after meeting the requirement of integrated steel plant at Nagarnar from Deposit 4 will be sold to domestic customers in Chhattisgarh
    
    The Deposit - 4 iron ore mine will be developed as a ‘standalone project’ with an estimated investment of INR 1,899.74 crore. NMDC proposes for mining the Deposit number 4 iron ore mine with a production capacity of 7.0 million tonnes in the mine lease area of 646.596 hectares.
    
    The exploration work was done at Bailadila Deposit No. 4 by NMDC in the year back in 1972-74. The ore reserves were proved by detailed exploration activities.
    
    Source : The Pioneer