Nieuws en info hier plaatsen (deel 4)

1. voda 8 september 2016 20:12

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   SAIL ASP supplies Maraging Steel for Agni missiles
   
   Times of India reported that Steel Authority of India Limited’s Alloy Steel Plant in Durgapur has come up with an alternative to 'Maraging Steel' that is used in the outer motor casing of Agni missiles. This will not only help save valuable foreign exchange, but also increase India's indigenous capability. The import and export of Maraging Steel is closely monitored as it is primarily used in weapons systems.
   
   Maraging Steel is an alloy containing up to 25% nickel and other metals, strengthened by slow cooling and age hardening.
   
   An ASP spokesperson told TOI that the alternative developed by the unit has ultra-high-strength and fracture toughness required for missile manufacture.
   
   He said "The steel was melt and cast at ASP for the first time in the country meeting stringent quality requirements, followed by rolling and annealing at Rourkela Steel Plant. About 106 tonne of these plates were supplied to the ministry of defence for heat treatment and fabrication to produce outer motor casings for Agni missiles.”
   
   Source : Times of India

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2. voda 8 september 2016 20:13

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   SMS group to supply two new wire rod mills to Guangdong Guoxin Industrial
   
   Chinese Guangdong Guoxin Industrial Co Ltd has awarded SMS group the order to supply the mechanical core components and the complete electrical and automation package for a new wire rod mill complex. The new complex will be built in the Sino-German Development Zone, Jieyang City, Guangdong Province, with production scheduled to commence in 2017.
   
   Source : Strategic Research Institute

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3. voda 8 september 2016 20:14

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   Dongbei Steel misses USD 45 million bond payment again
   
   Reuters reported that Dongbei Special Steel Group Co, the steelmaker whose default in March helped spark a sharp correction in Chinese corporate debt, said it is unable to make a timely payment on another bond.
   
   The company, owned by the Liaoning provincial government, Northeast China, has already defaulted on multiple bonds in 2016. The company posted the statement warning of the missed payment on the CNY 300 million (USD 45.02 million) private placement note on the website of one of China's main bond clearing houses Wednesday.
   
   The 3-year, 8.3 percent coupon note was due to mature on Tuesday, the company said. The company cited its inability to raise additional cash as the reason for the default.
   
   The default marks the eighth for Dongbei in 2016. Its original late March default helped start a sharp sell-off in Chinese corporate bonds in April.
   
   On September 5, the company said it was delaying the disclosure of its interim financial information as it was in the midst of a debt restructuring plan.
   
   Source : Reuters

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4. voda 8 september 2016 20:15

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   Global forum to tackle steel glut unlikely to work – Experts
   
   South China Morning Post reported that experts say that trade rows arising from excess industrial capacity are expected to continue to flare as a global forum recommended by the Group of 20 leaders will likely fail to tackle the root of the issue.
   
   Mr Yuan Gangming, economist with Tsinghua University, said “A global forum in the OECD is just like opening a back door to China and granting it leeway and space to manoeuvre, which will give birth to more trade frictions in the future.”
   
   Mr Ricard Torne, senior economist for China at FocusEconomics, a Barcelona-based consultancy, said “The forum could be a first step in the right direction but the fact China and other important players including India were not members of the OECD could raise suspicion about its impartiality. In any case, any agreement on steel output will be effective only in the long term and will depend on the goodwill of all parties.”
   
   China has been blamed for flooding global markets with cheap steel, threatening jobs in the United States and Europe. World leaders attending the two-day G20 summit in Hangzhou that wrapped up on Monday agreed to work together to tackle the issue. But a communique released after the meeting did not single out China and avoided introducing binding limits. Instead, it called for increased information sharing and cooperation through the formation of a global forum on excess steel capacity. The forum would be facilitated by the Organisation of Economic Cooperation and Development. But China is not one of the 35 formal members of the Paris-based group.
   
   China has vowed to reduce steel production capacity by 100-150 million tonnes by 2020, a pledge Chinese President Xi Jinping repeated on Saturday ahead of the G20 meeting. But the figure is only half of China’s estimated excess capacity.
   
   Source : South China Morning Post

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5. voda 8 september 2016 20:20

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   Tangshan cuts steel output to clear air
   
   Global Times reported that China's top steel making city of Tangshan has told industrial plants to cut production for two weeks from Saturday, its third such suspension since July, as the Chinese central government battles overcapacity and pollution, according to a document seen by Reuters.
   
   The environmental crackdown will affect steel mills, power plants, coking producers and cement producers that have failed to meet standards.
   
   The city in the northern province of Hebei, which accounts for more than a fifth of China's steel output, enforced similar cuts in July and August, and will strengthen inspections of emissions.
   
   Source : Global Times

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6. voda 8 september 2016 20:21

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   Indian authorities need to decide on construction materials on life cycle analysis and not L1
   
   Mr Sushim Banerjee DG of Institute of Steel Growth and Development in his personal capacity wrote in Financial Express that in India the real growth of steel industry from the middle of 20th century was accompanied by a series of checks and controls that, on one hand disincentivised the entrepreneurial spirit and on the other, taught the producers to thrive on shortage scenario.
   
   What is the role of steel industry when the country makes a serious attempt to grow from the developing stage to a developed one. Take a look at countries like USA, Germany, Japan, Korea, France and China. Economic growth was synonymous with the growth of industry, manufacturing, and steel as one of the most significant elements of development. The backward and forward linkages of steel industry are well spread out and inseparable from the growth of the economy. But there is a change in the environment accompanying the development of the countries that happened six to eight decades back. Steel had its origin in India (Sword of Porus presented to Alexander the Great, Ashoka Pillar, woodtz steel used to make arms and household items in the South in the pre-historic periods). But the world came to know the use of steel only in the last 250 years of development phase. In each of the above countries, Steel played a unique role unmatched by any other material in the growth of the economy. It was surely the most preferred material for construction and continuous research. And product development on steel had taken forward the cause of steel in sync with the prosperity of the nation.
   
   In India the real growth of steel industry from the middle of 20th century was accompanied by a series of checks and controls that, on one hand disincentivised the entrepreneurial spirit and on the other, taught the producers to thrive on shortage scenario. Steel marketing became a prestigious occupation as a long queue of buyers in search of steel made them oblivious of the role of promotion in generating fresh demand. From the mid nineties till date barring a few glorious years from FY2008 to FY 2014, the steel industry in the country had witnessed a growth which exceeded the global growth rate in steel consumption, but is considered tardy in the backdrop of the massive potential of enhancing the level of consumption.
   
   Since the last two decades steel has been facing stiff competition from other materials like aluminium, magnesium, plastic especially carbon fabric reinforced plastic in various traditional uses. Steel that was traditionally considered ugly, heavy, easy to melt in fire and break in tremor has been replaced by other materials. The changed scenario along with excess availability compared to slow growth in demand made us to give more emphasis on promotion of steel use in the country.
   
   Steel lost its prominence in many uses where strength to weight ratio was not in its favour like bus body building and interiors, window sills, automobile components like fuel tanks, engine blocks, pipes, tubes and household items. Steel gained its role in all large-scale construction including that of commercial buildings, airports and warehouses. Railways traditionally relied on steel bridges. But in road over bridges (ROB) and flyovers, steel was fighting against concrete. Our engineering fraternity was by and large more exposed to RCC based construction and the engineering curricula in the degree and diploma colleges were not tuned to bring in knowledge in steel structural properties and uses. This has made the professionals, designers and architects not fully appreciative of the advantages of steel-based designs.
   
   It needs to be appreciated by professionals, consultants, government as well as private procurement and project authorities that promotion of steel-concrete-composite designs that combine the strengths of both steel and concrete in the interest of cost effectiveness, faster and ease of construction, environment friendliness, earth quake and fire resistance would lead to phenomenal changes in the innovative designs and flexibility. A good deal of light and high strength steel has emerged namely, tubular, cold formed structurals, embossed sheets, hollow sections, galvanized structurals, thin dimensions of hot and cold rolled steel with more UTS and YS strength for a host of applications.
   
   The need of the hour is to convince the concerned authorities, government departments and project execution agencies on the choice of construction material basis the life cycle analysis and not simply on the current costs (L1 consideration). If the constructed structures can survive natural calamities for more number of years, yield commercial benefits by shortening the construction period, lead to lesser disturbances to the public during construction, these must be suitably factored into the tendering clauses for the respective construction jobs. If the will to take advantage of all the long term benefits of steel-concrete-composite construction can be firmly registered at all the important levels, the method to implement this is not difficult to find out.
   
   Source : Financial Express
7. voda 8 september 2016 20:23

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   Hyundai & Kia Motors hit by US anti dumping duties on steel from Korea
   
   Korea Herald reported that the US government’s latest decision to slap a maximum of 50 percent anti-dumping duty on automotive steel imported by Hyundai Steel is expected to deal a blow to its main clients Hyundai Motor and Kia Motors.
   
   Beginning in July, the US Department of Commerce slapped a 47.8 percent anti-dumping duty on coated steels, 38 percent on cold rolled steels and 13.38 percent on hot rolled steel imported by Hyundai Steel from South Korea, saying the products were sold in the US below fair market value and subsidized by their government.
   
   Hyundai Steel, the steelmaking arm of Hyundai Motor Group, exports 545,000 tons of steel to the US every year. Of the amount, 40 percent is used for automobiles, mostly supplied to its affiliates Hyundai and Kia’s plants in Alabama and Georgia, respectively.
   
   The increased price of steel is expected to hike the cost of production for vehicles.
   
   Hyundai Steel supplies about half the coated steel used by Hyundai and Kia’s US plants. Coated steel, which has the heaviest duties, makes up 80 percent of automotive steel in a car.
   
   Hyundai and Kia haven’t increased the price of their cars. But if the anti-dumping duty is levied for a long period, the carmakers will be left with no choice but to raise the price tag, according to the report.
   
   Source : Korea Herald
8. voda 8 september 2016 20:25

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   Weinig respons hier op al het nieuws!
   
   New pricing principles suit steel industry - ArcelorMittal SA CEO
   
   Business Day reported that ArcelorMittal South Africa's new CEO, Mr Wim de Klerk, says the company's new pricing policy for sales of flat steel products, agreed with the government, does not have precedent elsewhere in the world. He said "Not as far as we are aware. These pricing principles were developed in consultation with government in the best interest of the local steel industry.”
   
   He said "This is the intended effect of the pricing principles. Pricing based on an import-weighted basket and a cap on ArcelorMittal SA's earnings will assist in ensuring that competitive pricing can be passed on to the downstream industry."
   
   This comes as SA's largest steel maker has finally acquiesced to long-standing government demands for regulated pricing and, therefore, a cap on earnings, amid a crisis in both the global and domestic steel industries. ArcelorMittal SA has undertaken to limit for a period of five years its earnings before interest and tax margin to a cap of 10% for flat steel products sold in SA. ArcelorMittal SA has agreed to this as part of a holistic solution for the sustainability of the industry, and which will contribute to economic growth
   
   This new pricing policy has been welcomed by the downstream metals industry in SA, and by the official opposition DA.
   
   Source : Business Day
   

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9. voda 9 september 2016 16:08

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   Express Reinforcements to supply 200,000 tonnes of steel for Hinkley Point C project
   
   Wales Online reported that about 200,000 tonnes of reinforcing steel involved in the building of the project will be supplied by Express Reinforcements, using steel produced by Celsa Steel in Cardiff. Express Reinforcements is based in Neath but also has manufacturing capability in Newport.
   
   Express Reinforcements has been given preferred bidder status for the Hinkley Point C project via the Tier 1 contractor BYLOR, a joint venture between Bouygues TP and Laing O'Rourke, as part of the continuing preparatory work for the Hinkley Point project.
   
   The GBP 18 billion Hinkley Point C is being developed by French energy giant EDF with a significant investment from CGN of China.
   
   Andy Lodge, managing director of Express Reinforcements said: "We are pleased to be the preferred supplier of reinforcing steel to this contract through BYLOR. It cements long-term relationships and puts Express at the forefront of reinforcing steel supply, having already been a major supplier to other key infrastructure projects such as Crossrail and Heathrow Terminal 5. It shows that our proven track record in delivering on these significant projects is highly valued and local, responsibly sourced steel to the highest quality standards is fundamental to all involved on this construction."
   
   Martin Westbury, project director BYLOR added: “The Bouygues TP/Laing O’Rourke joint venture is delighted at the prospect of working with Express Reinforcements as our preferred supplier to the Hinkley Point C project. The choice supports our strategy of working with the UK supply chain wherever possible, using UK-sourced materials. BYLOR is currently working closely with EDF Energy to prepare the site at Hinkley Point C for the main construction programme, so that when full Governmental approval is received, work can commence in earnest without delay.“
   
   Source : Wales Online

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10. voda 9 september 2016 16:12

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    Wie gaat al dat oude staal recyclen?
    
    Lage gasprijs bedreigt winning laatste reserves
    Dagen Noordzeegas geteld
    Foto: foto BLOOMBERG
    door Wouter van Bergen
    
    Amsterdam - Nu de Noordzee na vijftig jaar zijn einde nadert als winningsgebied voor olie en gas, staat de sector voor de klus om circa 150 platforms, meer dan duizend putten, plus pijpleidingen en andere installaties op te ruimen.
    
    Winbaar gas dreigt onder de zeebodem te blijven, omdat producenten door de lage gasprijs niet genoeg willen investeren in het aanboren van onontdekte reserves.
    
    Op is het gas onder het Nederlandse deel van de Noordzee voorlopig nog niet. Volgens schattingen is er na de winning van 700 miljard kubieke meter gas de afgelopen decennia, nog 300 miljard kubieke meter gas over. Voordat dit op is, kan ons land over nog enkele tientallen jaren nog voor miljarden aan gasbaten incasseren voordat het Noordzeegas rond 2050 helemaal op is.
    
    Nieuwe reserves
    
    Voorwaarde is wel dat er voldoende wordt geïnvesteerd in het aanboren van nieuwe reserves, en daar zit op dit moment wel een probleem, waarschuwt Jan Willem van Hoogstraten, ceo van EBN, het staatsbedrijf dat deelneemt in alle gas- en oliewinningsprojecten op Nederlandse bodem.
    
    „We hebben te maken met een perfect storm op de Noordzee”, zegt hij. „Door de langdurig lage prijzen in een situatie waarin veel velden aan het einde van hun levensduur komen, wordt er momenteel te weinig geïnvesteerd in het aanboren van nieuwe reserves.”
    
    Met als gevolg dat de totale hoeveelheid gas die vorig jaar gewonnen werd, met minder dan 30% werd aangevuld met nieuw beschikbaar gekomen reserves. In plaats van in 2050, kan het zo gebeuren dat Nederland al aan het eind van het volgend decennium moet stoppen met gaswinning uit de Noordzee, terwijl er nog voor miljarden aan gas in de grond zit.
    
    Uitgeput
    
    „Het is niet zo dat je gas dat je nu niet wint, altijd later nog uit de grond kunt halen”, zegt Jo Peters, secretaris-generaal van brancheorganisatie Nogepa. „Vanaf 2019 zullen er steeds meer platforms en infrastructuur worden weggehaald, omdat de gasvelden uitgeput raken. We zijn verplicht installaties op te ruimen als ze niet meer worden gebruikt, maar het is ook omdat het in stand houden van installaties die niet meer produceren, te veel kost.”
    
    Wanneer het tijd wordt om een platform uit productie te halen, wordt bepaald door het moment waarop de opbrengst niet meer opweegt tegen de marginale kosten. Wordt de cashflow negatief, dan zijn de dagen van het platform geteld. Ramingen van EBN laten zien dat bij een blijvend lage gasprijs (die nu rond de 15 cent ligt) van 12 cent per kubieke meter in 2030 het laatste platform uit bedrijf wordt genomen. Bij een gasprijs van 25 cent per kubieke meter breekt dit moment pas aan rond 2050.
    
    Laatste kansen
    
    Afgezien van de hoge kosten die het opruimen van een platform en de bijbehorende infrastructuur met zich meebrengt, betekent dit echter ook het opgeven van de laatste kansen om ooit nog iets rond het betreffende gebied te produceren. Gas- of oliereserves die in de toekomst nog in de Noordzee zijn alleen rendabel te exploiteren door bestaande infrastructuur, zoals de pijpleidingen naar het vasteland, te gebruiken.
    
    Zonde, want Nederland is nog lang niet van zijn gasbehoefte af, zegt Van Hoogstraten. „Haal je het niet uit de Noordzee, dan zul je het moeten importeren. Dan kost het geld, in plaats van dat er gasbaten in de schatkist vloeien. Bovendien gaat het importeren van gas gepaard met meer uitstoot van broeikasgassen dan zelf produceren.”
    
    Een andere aanpak zou de levensduur van de Nederlandse gaswinning op de Noordzee nog kunnen verlengen, denkt Van Hoogstraten. Als producenten samenwerken bij de exploitatie van belendende platforms, kunnen kosten naar beneden, waardoor het moment dat de kosten de opbrengsten overstijgen, kan worden uitgesteld.
    
    Belasting
    
    Maar ook de overheid kan helpen ervoor te zorgen dat gaswinning aantrekkelijk blijft, door het voorbeeld van het Verenigd Koninkrijk te volgen en de hoge belasting op gaswinning, iets te verlagen.
    
    Uiteindelijk levert dat de schatkist meer op, zegt hij. „Het is beter een wat lager percentage op iets te krijgen, dan een wat hoger percentage van niets.”
    
    Bron: DFT Premium
12. voda 9 september 2016 16:12

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    Bhushan Steel lenders look to sell assets - Mint
    
    Mint, citing two people with knowledge of the matter, reported that creditors of Bhushan Steel Ltd are looking to carve out some parts of the business for sale as they seek to recover some of the more than INR 44,000 owed by the steel producer. At the same time, the lenders are trying to figure out restructuring options for the rest of the company.
    
    One source said “They have identified the Bhushan Steel asset in Odisha as a high-quality asset that can be separated from the company and sold. This would help in resizing the large debt in the company. The plan is still in the discussion phase but is a probable solution to problems that have been plaguing the company for over two years.”
    
    Lenders met with the company’s management in June as part of a quarterly exercise designed to deal with stressed debtors. The plan to carve out parts of the company and sell them came up after the management submitted a progress report at the meeting, said the second person cited above, also on condition of anonymity.
    
    As of March 2016, consolidated debt of Bhushan Steel was INR.44,477.93 crore. A large part of this is owed to a consortium of 40 banks led by State Bank of India and Punjab National Bank.
    
    Source : Mint
    
13. voda 9 september 2016 16:18

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    EVRAZ ZSMK rails certified with Deutsche Bahn
    
    EVRAZ ZSMK has successfully completed the qualification tests of its rails with Deutsche Bahn and received the HPQ certificate from the German operator. The document allows EVRAZ, after the completion of the ongoing track tests, to bid in Deutsche Bahn's tenders starting from 2017.
    
    Source : Strategic Research Institute

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14. voda 9 september 2016 16:19

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    Iranian steel exports in 5 month surge by 51% YoY
    
    Tehran Times reported that Iran’s exports of steel ingots and steel products experienced a 51 percent hike in the first five months of the current Iranian calendar year (March 20-August 21) compared to the same period of time in the past year, IRNA reported on Wednesday.
    
    According to the report, steel ingots and steel products exports in the said period reached 2.31 million tons, registering a 51 percent rise from 1.52 million tons during the same time in the preceding year.
    
    Source : Tehran Times
15. voda 9 september 2016 16:21

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    Strong revival of Indian auto sector on back of increased demand - SIAM
    
    SIAM announced that the Indian auto industry produced a total 10,900,264 vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-August 2016 as against 9,800,197 in April-August 2015, registering a growth of 11.22 percent over the same period last year.
    
    Source : Strategic Research Institute
    

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16. voda 9 september 2016 16:22

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    Indonesian steel industry growth hindered by imports
    
    The Jakarta Post reported that Indonesian steel-makers are unable to run their plants at full capacity because of cheaper Chinese steel imports amid a global glut. Indonesia’s steel-making capacity amounts to 11 million tons per year while current production only stands at 7 million tons as it faces cheaper steel from China and other countries that are expanding their shipment destinations amid the ongoing global glut.
    
    Indonesia Steel Forum chairman Singgih Wasesa said that to overcome the challenge, local firms should collaborate to face tight competition from abroad. He said “We should have a collective spirit to cooperate with each other, not to compete. Our competition is now against steel importers.”
    
    Previously, the Indonesian Iron and Steel Industry Association (IISIA) urged the government to provide more protection to the industry against importers, especially China, which has created worldwide tension with other major producing countries that have been hit by low metal prices for years.
    
    Source : The Jakarta Post

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17. voda 9 september 2016 16:32

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    Voestalpine targets more savings in tough market
    
    Reuters reported that Austrian steel maker Voestalpine plans further efficiencies to make sure it hits mid-term targets in a tough trading environment after its current 1 billion euro efficiency programme runs out at the end of the business year in March. The new programme will be for several hundred million euros and focus on improving operations rather than restructuring. It aims to increase revenues by more than a third to 15 billion euros ($17 billion) and its operational (EBIT) margin by 1 percentage point to 9 percent until 2020.
    
    Mr Wolfgang Eder CEO said “There will be a follow-up package for sure.”
    
    Mr Eder said July figures made him feel confident that Voestalpine's traditional weak second quarter results were at least on the same level or even better as in the previous April-June period. Eder confirmed the group's target of reaching full-year EBIT close to last year's 888.8 million euros.
    
    In response to a global steel glut, Voestalpine has changed its focus from pure steel making towards offering higher value specialised products. It has been investing heavily in new production sites and now makes finished parts for the automotive, aerospace and rail industries. Its products can be found in Volkswagen cars, Airbus planes and in switches for high-speed trains.
    
    He added “Traditional steel generates about 30 percent of revenue and as prices did not drop but stabilised after the summer period for the first time in five years, there was good reason to hope for a further steel price increase in autumn.”
    
    Mr Eder also voiced cautious optimism regarding oil and gas prices. He said "We will see the bottom in demand and in prices in the second half of our business year. It would be too early to bet on a significant increase in demand from customers in the oil and gas industry.”
    
    Voestalpine plans to invest around 1.1 billion euros in the current business year, a large part of which will be spent on new plants to serve automobile and rail customers while about 200 to 300 million euros will be reserved for acquisitions.
    
    Source : Reuters
    
18. voda 9 september 2016 16:35

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    JSPL Q1 net loss increases YoY
    
    Business Line reported that Jindal Steel and Power Ltd has reported consolidated net loss of INR 1,240 crore for the April-June 2016-17 quarter as compared to a consolidated net loss of INR 559 crore in the same quarter last year. During the quarter, the company’s consolidated net revenue improved marginally by 5.65% to INR 4,655 crore against INR 4,406 crore in the same quarter last year.
    
    The company said in a statement “The quarter ending June 30, 2016, saw tepid growth in domestic steel demand, which under-paced the production ramp up during the quarter. The impact was more pronounced in the long product segment as orders declined with the onset of monsoon across the country.”
    
    JSPL produced 1.19 million tonnes of steel during the quarter, which was an increase of 8 per cent over the same quarter last year.
    
    Giving its outlook, the company said that the levy of the anti-dumping duty on various steel products and minimum import price will help in domestic steel-makers getting a higher share of the domestic market. It said “JSPL believes that steel demand will grow at 5-6 per cent during the third and fourth quarter. With increased steel demand, prices are expected to rise in the coming months. The government’s growing focus on usage of steel for buildings, flyovers and bridges is likely to see a spurt in demand for structural steel.”
    
    Source : Business Line
    
19. voda 9 september 2016 16:36

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    Chinese mills exports 9 million tonnes of steel in August
    
    According to latest data from the China General Administration of Customs, China has shipped 9.01 million tonnes of finished-steel products to overseas market in August 2016, down by 7.4% YoY and down by 12.3% MoM as compared to 10.3 million tonnes in July 2016marking a second month of lower exports and the volume was the smallest since February's 8.11 million tonnes.
    
    Source : Strategic Research Institute

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20. voda 9 september 2016 16:45

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    CBS Steel director gets jail in Bhusan Steel cheque bounce case
    
    Tribune News Service reported that the director of Delhi-based CBS Steel Pvt Ltd was awarded two-year rigorous imprisonment by a local court and was asked to give INR 50 lakh to Bhushan Power and Steel Limited in a cheque-bounce case.
    
    The complainant, Satya Parkash, General Manager of the Bhushan firm, said the company was dealing in manufacturing and sale of steel wire, CR, CTD bars and other steel products. The accused, Mr Vikas Singla, used to purchase material from it on a cash/credit basis. To discharge his legal and part financial liability, the accused issued a cheque on November 18, 2013, for Rs 50,00,000 drawn on the Union Bank of India, New Delhi, in favour of the complainant. The complainant presented the cheque for encashment, but it was dishonoured with the remarks “exceeds arrangement.”
    
    Thereafter, the complainant served a legal notice on November 26, 2013, on the accused asking him to pay the amount within the stipulated period, but to no avail. Following this, the present complaint was filed.
    
    Source : Tribune News Service
21. voda 9 september 2016 16:46

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    Indonesian steel producers see bigger margins – Report
    
    The Jakarta Post reported that after facing a sluggish market last year, three steel companies listed on the Indonesia Stock Exchange enjoyed better financial performances in the first half of 2016, leading to stock price increases of more than 100 percent year-to-date.
    
    Krakatau Steel, a state-owned enterprise and the largest player in the industry, booked a net loss of US$93 million in the first half of 2016. However, the Cilegon-based company has generated gross profits of $99 million, reversing the $38 million loss in the same period last year. Efficiency was key to Krakatau Steel's recent gross profits. It recorded $544 million in revenue in the first half 2016, rising 3.5 percent from the achievement in the same period 2015. At the same time, it managed to cut steel production costs by 21 percent, on the back of lower raw material costs. In more detail, Krakatau Steel's material costs were trimmed by 17.7 percent to $349 million during January-June 2016, compared to $424 million in the same period last year. As a result, the gross profit for steel products rose to $80 million, compared to $71 million in losses earlier.
    
    Better financial performance was also seen in Saranacentral Bajatama (BAJA). The Karawang-based steel producer improved its profit margin in the first half of 2016 despite a 30-percent drop in revenue. Its gross profit rose 8.3 percent due to the 29 percent decline in production costs. Thus, the company's gross profit margin was up to 6.1 percent from 4 percent earlier. The stable exchange rate in the first half of 2016 helped Bajatama to avoid losses. In the first six months of this year, the company received gains on foreign exchange worth Rp 21 billion, reversing the Rp 34 billion losses in the same period of 2015.
    
    Another steel producer, Gunawan Dianjaya (GDST) also managed to create efficiency amid lower revenue. With a production capacity of 400,000 tons of steel plate a year, the company posted Rp 414 billion in revenue during January-June 2016, down 15 percent from Rp 488 billion in the same period last year. However, the company succeeded in cutting its costs to Rp 340 billion, 33 percent lower than the Rp 515 billion earlier. With lower costs, Gunawan Dianjaya could generate a gross profit of Rp 73 billion, compared to last year's losses of Rp 27 billion.
    
    Source : The Jakarta Post