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Home  /   Forum   /   Arcelor Mittal   /   Nieuws en info hier plaatsen (deel 4)

Aandeel ArcelorMittal LU1598757687

Laatste koers (eur) Verschil Volume
27,610   +3,250   (+13,34%) Dagrange 24,870 - 27,850 11.236.094   Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 4)

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35.173 Posts
Pagina: «« 1 ... 312 313 314 315 316 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 1 november 2015 16:11
    1,360 supply chain jobs in danger on steel crisis in UK

    Mirror reported that UK's steel industry faces a double-whammy as a further 1,400 jobs are in jeopardy in the supply chain, the Mirror can reveal. A respected think-tank has analysed the knock-on effect of the steel plant closures and the findings will send shock-waves through the industry.

    In Redcar, Teeside, 2,200 job losses have been announced, but a further 880 could follow as back up firms see work dry up. In Scunthorpe, North Lincolnshire, and Motherwell and Cambuslang, in Scotland, where a combined 1,200 jobs will go , a further 480 workers could face the axe. Some 4,760 jobs may be lost: 3,400 from the plants directly and 1,360 in the supply chain, but the impact could be more far-reaching.

    Experts say it does not take into account lost demand in the local economies from reduced spending power of workers and their families, hitting shops, services and local businesses. Researchers founds that supply chain job losses are likely to hit hard the basic manufacturers and suppliers of iron, manufacturers of machinery, and processes and suppliers of coke and petroleum to the steel plants.

    Mr Mat Lawrence, research fellow at IPPR, said “British steel is facing difficult global headwinds as these job losses suggest, but the impacts will be felt hardest in the steel-making communities where thousands of people now face the prospect of unemployment. The job losses are not confined to the plants themselves and the shockwaves will be felt beyond the factory gates in the local economy. If the sector is to survive and prosper, action is required in the short term to protect British steel-making from the temporary over-supply of steel from overseas. But more importantly, in the longer-term a coherent industrial strategy for steel is needed if metal manufacturing is to remain in the UK. Strategic thinking on increasing investment, improving export finance, support for firms to move up the value chain including into low-carbon steel production, and protecting industrial clusters would all be steps in the right direction.”

    Source : Mirror
  2. forum rang 10 voda 1 november 2015 16:12
    Italy starts cartelization probe on 6 rebar mills

    SteelOrbis reported that the Italian Competition Authority has opened an investigation against six major Italian companies that produce and sell rebar and steel mesh. The companies in question are Alfa Acciai, ORI Martin, Feralpi Siderurgica, Industrie Riunite Odolesi, Ferriera Valsabbia and Stefana.

    According to a statement issued by the Italian Competition Authority, "The process addresses the issue of a horizontal agreement in breach of Article 101 TFEU, coordinating at least two components of sales price for both rebar and mesh (i.e., base price and size extras). Such coordination would have taken place with the participation, from 2010, of representatives of the six companies at fortnightly meetings of the Commission on Steel Product Prices at the Chamber of Commerce of Brescia, Italy." The investigation will be completed by December 31, 2016.

    On October 28 and 29, officials of the Italian Competition Authority performed a series of inspections at the abovementioned companies, at the Brescia Industrial Association (AIB), and at the Chamber of Commerce of Brescia.

    In 2009, the European Commission fined Alfa Acciai, Ferriere Nord, Feralpi, IRO, Leali, Lucchini, Riva and Ferriera Valsabbia a total of €83.25 million for an infringement lasting from December 1989 to May 2000. They were accused of having "fixed various elements of the price of rebar", and of having "limited or controlled outputs and sales".

    Commenting on the latest investigation, Antonio Gozzi, president of Italian steel producers association Federacciai, stated that the hypothesis of a cartel among rebar and mesh producers is "unlikely due to the current situation of overcapacity in the rebar market". He expressed "full and complete confidence in the Competition Authority", stating he is certain that “everything will be clarified in the best way."

    Source : SteelOrbis
  3. forum rang 10 voda 1 november 2015 16:13
    Jindal Saw to go for restructuring of firm, subsidiaries

    PTI reported that steel pipe maker Jindal Saw Limited said that its will restructure the company as well as its subsidiaries in a bid to achieve utilisation of capacities. The subsidiaries are JHF Infralogistics, JHF Waterways and JHF Shipyards

    In a BSE filing, the firm said its Board in a meeting approved the constitution of a Reorganisation Committee to explore and evaluate various options for restructuring of the company and its direct and indirect wholly owned subsidiaries.

    The firm said it is undertaking the exercise so as to achieve optimum utilisation of capabilities and bring about dedicated management focus and business strategies

    The company, part of the USD 18 billion OP Jindal Group, makes large diameter submerged arc pipes and spiral pipes for the energy transportation sector; carbon, alloy and stainless steel seamless pipes and tubes for industrial applications and ductile iron pipes for water and wastewater transportation.

    Source : PTI
  4. forum rang 10 voda 1 november 2015 16:14
    TATA Steel defers decision on New Millennium Corp iron ore project development

    The Hindu Business Line reported that Tata Steel has postponed its decision on development of its second iron ore project in Canada until 2016. The project revolves round two taconite (inferior quality iron ore) deposits in sub arctic eastern Canada.

    Tata Steel’s Canadian exploration partner New Millennium Corporation recently said that as the current macro-economic situation poses challenges for development of the taconite project, they were re-visiting the terms of their original agreement of 2011.

    It said, “As part of this review, Tata Steel will consider current, or potentially future, participation in NML’s recently announced alternative development approach to its taconite properties. The parties intend to conclude a definitive agreement during the first quarter of 2016 subject to the respective Board approvals of the parties.”

    Tata Steel retains the option to participate in the development of one or both the deposits called LabMag, and KéMag.

    The jointly undertaken techno-economic viability study of the project was ready early last year. However, both the companies had not taken the investment decision for development of the mines as the iron ore prices declined below estimated cost of production of fines of around US $52 a tonne.

    While feasibility study benchmarked the product prices based on a long-term price forecast of $103 a tonne (62 per cent iron content fines CFR North Chinese ports), the current price is ruling at about $48 a tonne.

    Source : The Hindu Business Line
    Bijlage:
  5. forum rang 10 voda 2 november 2015 16:55
    Metalúrgica Gerdau could raise USD 319 million – Report

    Reuters reported that Metalúrgica Gerdau SA , the Brazilian investment holding company that controls steelmaking group Gerdau SA, could raise about BRL 1.24 billion ($319 million) from investors in a private transaction to help repay debt.

    In a securities filing, the company said the so called restricted effort offering involves the sale of about 169 million common and 331 million preferred shares. Pricing, which will depend on the fixing of a fair price and demand for the issuance, is expected as early as Nov. 17

    Proceeds could be used to repay debt that Porto Alegre, Brazil-based Metalúrgica owes to Grupo BTG Pactual SA , the largest independent investment bank in the country.

    The Gerdau Johannpeter family, which controls Metalúrgica, will participate in the offering, which will be underwritten by BTG Pactual and a group of four other banks, the filing added.

    The plan comes as the Gerdau group, like rival steelmakers in Brazil, grapples with a high debt burden that has grown substantially because of the drop in the real - Brazil's currency has lost about one-third of its value against the US dollar this year.

    Public offerings with restricted efforts differ from standard equity offerings in that a company does not have to request registration of the plan with securities industry watchdog CVM, only qualified investors can participate, and the deals cannot be marketed through road shows or the media.

    Source : Reuters

  6. forum rang 10 voda 2 november 2015 16:56
    Taskforce created to save Scotland’s steel industry

    STV reported that a taskforce has been created to save Scotland’s last two major steelworks is set to meet for the first time. The group was created after steel firm Tata announced plans to mothball sites at Dalzell and Clydebridge with the loss of 270 jobs.

    The Scottish Government has promised to do everything in its power to secure the future of the industry north of the border.

    It says the taskforce will focus on finding a new commercial operator for the two plants but it has not ruled out other options.

    It will also look at ways to support workers facing redundancy.

    Meanwhile, an emergency meeting of EU ministers is to be held to discuss the steel industry crisis.

    Source : STV
  7. forum rang 10 voda 2 november 2015 16:58
    ZKS Ferrum and Primetals to modernize ArcelorMittal Poland BOF

    The consortium Primetals Technologies Austria and ZKS Ferrum signed a contract with ArcelorMittal on investments including modernization of the converter (BOF) located at a steel mill belonging to the AMP located in Poland. The remuneration payable to ZKS Ferrum from the execution of the contract was set at approx. 11 million net. The work covered by the agreement will be implemented in the period to November 2016.

    The agreement provides for the possibility of calculating the ordering of contractual penalties for daily delays in its implementation, the total amount of liquidated damages is limited to the amount of 10 percent. remuneration for the contract.

    The agreement includes an option to perform additional work by the consortium for the implementation of further modernization of the converter (BOF). With the option of additional contracting work performed may take until the end of April 2017.

    Source : hutnictwo.wnp.pl
    Bijlage:
  8. forum rang 10 voda 2 november 2015 16:59
    Vedanta threatens to shut Amona pig iron plant

    Herald Goa reported that owing to the frequent disruption of transportation of iron ore by truck owners, Vedanta’s Sesa Goa Iron Ore Division, one of Goa’s largest iron ore mining companies, has threatened that it will be forced to close down its pig iron plant at Amona, which will affect the livlihood of about 4000 employees. The company has already shut down one of its three blast furnaces due to lack of raw material.

    On Friday, the company’s official spokesperson said, “We have been trying our best to keep the business running. The company has been forced to shut down one of its blast furnaces at Amona and will shut down the other two soon if transportation of ore is hindered by vested interest. The company’s pig iron plant at Amona depends on ore from its mines in Codli and Bicholim and this could affect a large workforce that earns their livelihood.”

    The spokesperson added, “We have been law abiding and have knocked on each and every door for a solution, approached every stakeholder of the industry to intervene and help resolve the problem amicably. Our efforts seem to be in vain, if things continue this way, the company will have no other option but to close down operations. All stakeholders must realize that if this happens, it is not just the organization that is at a loss. Every direct and indirect stakeholder will find sustenance difficult if they do not adopt a proactive approach to resolve the crisis at the earliest.”

    Vedanta’s Sesa Goa Iron Ore Division has begun mining operations and started transportation of ore purchased through e-auction for shipment at a trucking rate as declared by the Directorate of Mines and Geology (DMG) vide its circular on rate of transport dated April 21, 2015.

    Based on the Supreme Court directive, the company has purchased e-auctioned ore for its blast furnace operations at the pig iron plant as well as for exports. In the past ten days the company has been facing problems with truck operators hampering business demanding a hike in freight tariff.

    The company has adhered to the DMG circular where payment towards e-auction cargo is concerned. But the truck owners are seeking more that what has been fixed by DMG.

    Source : Herald Goa
  9. forum rang 10 voda 2 november 2015 17:00
    Bilstein Cold Rolled Steel Plans center at Bowling Green in Kentucky

    Germany-based Bilstein Cold Rolled Steel began construction of a $130 Million, 250,000 square foot, manufacturing hub at Transpark in Bowling Green, Kentucky, with plans to create 110 jobs in Warren County.

    Bilstein Group Managing Partner Mr Marc T Oehler said “On behalf of Bilstein Group I am excited to be here in Bowling Green today to celebrate the groundbreaking ceremony of our new production facility.”

    He added “This project is a significant step forward for our North American market strategy. The Bilstein Cold Rolled Steel LP facility will further accelerate our company’s global growth initiatives while providing our customers with demanding cold rolled strip products of the highest quality. The support we have received from the community, the Bowling Green Chamber and the local officials has been invaluable and I look forward to many, many years calling southcentral Kentucky our home.”

    Founded in 1911 in Hagen, Germany, Bilstein processes over 600,000 tons of cold-rolled steel strip annually and employs more than 1,400 people worldwide. Bilstein North America Inc., established in 2009, maintains five warehouse locations in North America.

    To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $3.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.

    Additionally, Bilstein was approved by KEDFA for $1.4 million in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.

    Bilstein is also eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.

    Source : areadevelopment.com
  10. forum rang 10 voda 2 november 2015 17:01
    Vietnamese steel makers facing many anti dumping probes

    Vietnam Net reported that Vietnamese steel manufacturers are awaiting decisions as Thailand, Malaysia and Indonesia, which buy 50 percent of Vietnam’s exports, are taking anti-dumping investigations against imports from Vietnam. According to the Vietnam Steel Association (VSA), the three countries all began taking investigations in September. In the worst case scenario, Vietnamese exporters would bear very high anti-dumping duties of up to 50 percent

    In September, Indonesia announced it will conduct sunset review on cold roll coil imports from Vietnam, Taiwan, China, South Korea and Japan. Just within one week, Thailand announced three investigations against Vietnam’s steel products. Malaysia has also initiated an anti-dumping investigation against Vietnam’s alloy and non-alloy cold rolled 0.2-2.6 mm thick and 700-1300 mm wide steel exports.

    According to Nguyen Phuong Nam, deputy head of the Competition Administration Department, steel was the product subject to the highest number of anti-dumping investigations in 1994-2014 which accounted for 29 percent of total cases.

    A department’s report showed that Vietnamese exporters became the defendant in five anti-dumping cases in the last five years in the US market. Only in one case, relating to carbon steel tubes, did Vietnamese get a judgment beneficial to them.

    According to Nguyen Van Sua, VSA’s deputy chair, the only solution for Vietnam to avoid lawsuits and minimize risks is to diversify export markets. In 2011-2013 alone, Vietnam faced eight anti-dumping investigation cases in the markets of the US, Australia, Canada, Indonesia and South Korea.

    The Vietnam Chamber of Commerce and Industry warned that Vietnam may face more anti-dumping lawsuits in the future as Vietnam more deeply integrates into the world.

    Source : Vietnam Net
  11. forum rang 10 voda 2 november 2015 17:02
    Egyptian Iron & Steel and Ezz Steel post losses

    Daily News Egypt reported that Egyptian Iron and Steel company has recorded a EGP 57.9 million loss during the first quarter of fiscal year 2015/2016, while Ezz Steel reported an EGP 319 million loss during the first three quarters of calendar year 2015.

    Egyptian Iron and Steel company’ sales were all in the domestic market, as it has not exported any of its production. Egyptian Iron and Steel company’s net losses declined by 45% during FY 2014/2015 to reach EGP 558.76 million. The company’s net losses in FY 2013/2014 totalled EGP 1.25 billion.

    Ezz Steel recorded a consolidated net loss of EGP 237.6 millionfor the first half of 2015, compared to EGP 38.6 million in profits registered during the same period last year. During the first quarter Q1, the company reported EGP 145.9 million losses, compared to EGP 20.16 million profits in Q1 2014. Revenues for the first nine months amounted to EGP 8.3 billion, an EGP 1 billion decline from the same period last year.

    In April, then Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour imposed protection fees on imported rebar steel, at 8% for one tonne, or no less than EGP 408 per tonne. The decision will last for three years, with the protection rates of the first year amounting to the prior mentioned fees. The following year, they will reach EGP 325 per tonne, and the year after they will stand at EGP 175 per tonne. The decision came after temporary protection fees were imposed on imported steel for 200 days beginning from October 2014. The step was taken by the ministry to protect the local industry from a significant increase in steel imports.

    Source : Daily News Egypt
  12. forum rang 10 voda 2 november 2015 17:04
    UKIP demands action to prevent Chinese steel dumping into UK

    William Dartmouth MEP and UKIP Trade spokesman has written to EU Trade Commissioner Malmström demanding that action must be taken to prevent further Chinese steel imports being sold at a lower price of production in the UK, which has already led to the loss of thousands of British jobs. Following this it has emerged that the UK government has requested an emergency EU meeting to discuss this crisis.

    In the letter William Dartmouth MEP stated, "I urge you as Trade Commissioner to effect anti-dumping duties on imports of steel from China entering the EU. These anti-dumping tariffs must be fully proportionate to be able to safeguard the UK steel industry (as well as the steel industry in other EU member states) from further damage occasioned by anticompetitive practices on the part of steel producers in China."

    He also highlighted the damage this practice has already on the UK steel sector, "Already SSI has been forced to cut 2,200 jobs in the UK, and Tata Steel a further 1,200 jobs."

    Source : Strategic Research Institute
  13. forum rang 10 voda 2 november 2015 17:05
    ArcelorMittal and Sutor agree for business cooperation in China

    Sutor Technology Group Limited, one of the leading China-based manufacturers and customized service providers for fine finished steel products used by a variety of downstream applications, announced that ArcelorMittal visited Sutor recently and reached an agreement with Sutor for business cooperation.

    ArcelorMittal is interested in exploring the rapidly growing Chinese market. During their visit of Sutor's production facilities, the representatives from ArcelorMittal showed strong interests in Sutor's products. The representatives of ArcelorMittal were impressed with Sutor's techniques and quality of products. They believed that our galvanized steel products would be complementary with their products.

    Ms Lifang Chen, Chairwoman and CEO of Sutor commented, "Market and cooperative partners are direct judges of enterprise products and services. To provide the top quality fine finished steel products and services has always been the goal of Sutor in the past ten more years. For us, in an industry with weak demands, we believe we have more opportunities than challenges. We are glad to receive ArcelorMittal's acknowledgment and believe we will be mutually benefited from future business cooperation."

    Source : Strategic Research Institute
  14. forum rang 10 voda 2 november 2015 17:08
    US DOC starts AD probe on steel pipes from UAE, Oman, Pakistan, Philippines and Vietnam

    An anti-dumping lawsuit has been filed by the United States against Oman and four other countries for selling steel pipes below its fair price. Apart from Oman, the complaint is against steel pipe producers of United Arab Emirates, Pakistan, the Philippines and Vietnam. They had chosen for investigation period between July 2014 and June 2015

    The lawsuit, filed by the Department of Commerce, follows allegations on dumping against these countries by US steel manufacturing firms.

    A US International Trade Commission circular said that the investigation would be for circular welded carbon-quality steel pipes. The US steel pipe makers, which lodged a complaint against dumping, are Bull Moose Tube Company, EXLTUBE, Wheatland Tube Company and Western Tube and Conduit.

    Source : Times of Oman
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  15. forum rang 10 voda 2 november 2015 17:09
    South Korea and Japan appeal for rollback of safeguard duty on HR steel

    Business Standard reported that South Korea and Japan have strongly pitched for the rollback of safeguard duty imposed on HR steel by India, arguing it has impacted the large investment made by its companies in the country and Posco, Honda, Toyota and Suzuki, among others, would be affected.

    The provisional 20 per cent safeguard duty on hot-rolled steel has hit production in Posco's plant in Maharashtra, where it has invested nearly USD 1 billion, South Korea has pointed out in its representation to the Indian government. Japanese companies, including Honda, Suzuki and Toyota, have also written to the government saying their cost of production will see a steep increase with the imposition of the levy.

    The report quoted a government official as saying that "South Korea and Japan have written to us against the imposition of the safeguard duty as they have a lot of companies based in India in several sectors, including automobile, that use steel. They have said it would severely impact their production and investment in the country. But we also have to see the interest of our industry.”

    In September, the government imposed a 20 per cent safeguard duty for 200 days on the import of hot-rolled flat products of non-alloy and other alloy steel, in coils of a width of 600 mm or more. The decision was taken on the basis of preliminary findings and recommendations of the Directorate General of Safeguards, which comes under the revenue department of the finance ministry.

    Source : Business Standard

  16. forum rang 10 voda 2 november 2015 17:10
    EU imposes minimum import price on CRGO steel imports

    Bloomberg last week reported that the European Union has imposed five year trade protection against electrical steel from the US, Russia, Japan, China and South Korea in a bid to curb competition for producers in the bloc such as ArcelorMittal and ThyssenKrupp AG. The five year protection follows provisional European measures introduced in May that took the form of ad valorem duties as high as 35.9 percent. The EU fixed minimum import prices on American, Russian, Japanese, Chinese and Korean shipments of grain oriented electrical steel or GOES until late 2020. The decision took effect on Saturday.

    The measures are meant to punish exporters in the five countries such as AK Steel Corp., Novolipetsk Steel OJSC, Nippon Steel & Sumitomo Metal Corp., Baoshan Iron & Steel Co. and Posco for allegedly having sold it in the EU’s EUR 400 million market below cost, a practice known as dumping.

    Under the system of minimum-import prices, GOES sold below the price floors are subject to EU tariffs. The duty rates amount to the difference between the minimum prices and any lower import prices.

    The decision sets three price floors based on the specific type of GOES: 2,043 euros a metric ton, 1,873 euros a ton and 1,536 euros a ton. The commission added a proviso to the minimum-import price system by saying that, in cases where duties are applied, they can’t be higher than a set of theoretical ad valorem rates calculated for specific exporters. These range from 21.5 percent for China’s Baoshan Iron & Steel to 39 percent for Japan’s JFE Steel Corp.

    The commission said it would refund EU importers of GOES the ad valorem duties collected since May because prices during this period were generally higher than the minimum-import prices being fixed.

    European Commission, the 28-nation EU’s trade authority in Brussels, said on Friday in the Official Journal said “The minimum import prices will allow the union producers to return to sustainable profit levels.”

    The commission said the benefits of the trade protection for European producers of GOES outweigh the disadvantages for users. It also said the minimum-import price system poses less harm to users than do the ad valorem duties.

    Source : Bloomberg
  17. forum rang 10 voda 2 november 2015 17:11
    Steel prices have bottomed out - Mr Seshagiri Rao JSW

    Mr Seshagiri Rao joint MD & CFO of JSW Steel in an interview with Jharna Mazumdar of mydigitalfc.com told that in the next six months things would change in the domestic as well international markets as both demand and prices seems to have bottomed out.

    Q - With the government’s focus on infrastructure and real estate sector and interest rates softening as banks have passed on the benefits of RBI rate cut, when do you expect the sector to revive? What is your overall outlook on the sector both near-term and long-term?

    A - There is great long-term potential for the sector with the government’s focus on infrastructure and real estate. However, steel demand is under stress at the moment, the main reason being China dumping steel in the country at lower rates. In the next six months, we expect things to change in the domestic as well international markets as both demand and prices seems to have bottomed out. Things should start improving from here.

    In India, the overall activity level is showing an uptick, monetary easing by the Reserve Bank of India is supportive of growth and recent data on industrial production is also encouraging. Public spending on a few infrastructure segments seems to be picking up. However, the momentum needs to be sustained in the coming quarters. Increase in public spending and progress of policy reforms are key to kick-start the investment cycle.

    Q - What are the challenges the sector is facing and how do you see it improving?

    A - The industry faces a huge challenge and is incurring losses due to international commodity distress. The domestic steel price remained under pressure due to falling demand and uncontrolled imports from China, Japan and Korea. Regional steel prices continue to remain under pressure, driven by surging exports from steel surplus countries at predatory prices and declining demand. Chinese steel exports continue to increase even at prices below the marginal cost as domestic demand falls faster than production cuts, which is resulting in a global supply glut.

    Several countries have already initiated tariff / non-tariff barriers to arrest dumping of steel in their markets even as unbridled exports at predatory prices will further intensify trade remedial actions across the regions. Indian steel industry continues to suffer from uncontrolled imports at prices significantly lower than domestic prices in exporting countries – especially from Korea, Japan and China. Consumption of domestically produced steel was down by 2.3 per cent from a year ago in the first half of FY16 as total steel imports were up by 42 per cent from a year ago. Finished steel exports also decreased by 26 per cent from a year ago during the same period. Dumping of steel into India has resulted in excess availability, which continues to dent market sentiments and remains a serious threat to the domestic industry.

    The government imposed provisional safeguards duty in September 2015 on import of certain grades of hot rolled (HR) coils. It is encouraging to see that the government has acted swiftly in imposing the duty to mitigate the hardship being faced by the domestic steel industry. As imports remained at elevated level for other types of steel products in the value chain, it is imperative to also impose appropriate duty on all other steel products in the value chain to stop injury to the industry.

    The International Monetary Fund has revised down its forecast for world economic growth for calendar year 2015 from 3.3 per cent to 3.1 per cent yet again and global growth expectations are weighed down primarily due to weaker prospects for some of the large emerging market economies and oil-exporting countries. Global crude steel production in the first nine months of 2015 was lower by 2.5 per cent from a year ago. Most of the regions continue to witness a decline.

    Source : mydigitalfc.com
    Bijlage:
  18. forum rang 10 voda 2 november 2015 17:13
    EUROFER welcomes timely Council Summit on European steel crisis

    The European Steel Association EUROFER has welcomed the news that an emergency meeting will take place in the coming days between ministers from EU member states to discuss the ongoing challenges faced by the steel industry in Europe.

    Mr Axel Eggert, EUROFER Director General, said “Surging imports, price depression and job losses are intensifying across the European steel market. Pressures, notably from unfairly traded Chinese steel, are a central cause of EU steel industry distress. Driven by massive excess steel capacity – twice the size of the EU’s total steel demand – China has been dumping unprecedented volumes of steel onto international and EU markets. Chinese steel exports have exploded to 110 million tonnes this year, doubling its export volumes over the past two years.”

    He said “Dumped and subsidised steel from China is destroying industry margins across the globe, with players in the EU's open market particularly vulnerable. High energy costs, sustained by a range of EU and national policies, also weigh down on the sector in Europe.”

    Mr Eggert emphasised, “During the financial and economic crises the sector lost over 80,000 jobs, 20% of its workforce. Unfortunately, our faith that the tide had begun to turn has vanished over the past quarter, during which at least a further 5,000 jobs have been lost. These losses not only destroy whole communities, but irreversibly damage the industrial fibre of the European economy. This is why this Council meeting is so timely.”

    The Council meeting was called for by the UK Business Secretary, Sajid Javid, following a number of closures and redundancy notices in that country. EUROFER hopes that the meeting can help to build a consensus around practical, swiftly implementable policies designed to support innovation, lower energy costs, restrain the regulatory burden and – vitally – to ensure that European steel producers face a level playing field in international trade.

    Source: Strategic Research Institute
  19. forum rang 10 voda 2 november 2015 17:25
    Nog een mooi China artikel!

    Operating conditions deteriorate at a slower pace in October in China

    Bad news and numbers regarding the health of economy continue to come out of China. Caixin China General Manufacturing PMI report for October said "Operating conditions faced by Chinese goods producers continued to deteriorate in October, albeit at the weakest rate in four months. Total new business declined only modestly, helped in part by a renewed increased in new export orders. This in turn contributed to softer contractions of output and employment in October. Meanwhile, purchasing activity and inventories of inputs continued to fall amid reports of lower production requirements. Widespread evidence of reduced raw material costs led to a further marked decline in cost burdens, which in turn were passed onto clients in the form of lower selling prices."

    Adjusted for seasonal factors, the Purchasing Managers’ IndexTM (PMITM) – a composite indicator designed to provide a single-figure snapshot of operating conditions in the manufacturing economy – posted 48.3 in October, up from 47.2 in September.

    Key Points - Caixin China General Manufacturing PMI
    1. Production falls at the weakest rate in four months
    2. Total new work contracts at slower pace amid improvement in new export order intakes
    3. Input costs and output prices continue to decline at marked rates

    Operating conditions have now worsened in each of the past eight months, though the latest deterioration was the weakest since June.

    Total new business placed at Chinese goods producers declined for the fourth month in a row in October. That said, the rate contraction eased since September’s recent record and was only modest. Softer domestic demand appeared to be a key factor weighing on overall new work as new export business increased for the first time since June, albeit marginally.

    Nonetheless, a further decline in overall new orders led firms to cut their production schedules again in October. However, the rate of reduction also eased since September and was moderate overall.

    Manufacturing employment declined in October, thereby extending the current sequence of job shedding to two years. That said, the rate of reduction was the weakest seen in three months. Anecdotal evidence suggested that some companies cut their payroll numbers as a result of company down-sizing policies and the non-replacement of voluntary leavers. Lower staffing levels and reduced output contributed to the sixth successive monthly increase in unfinished business. However, the rate of backlog accumulation remained marginal overall.

    As has been the case since July, Chinese manufacturers cut back on their purchasing activity in October. Furthermore, the rate of reduction was little-changed since September and marked overall. This led to a further modest fall in inventories of purchases in October.

    Meanwhile, fewer sales led to an increase in stocks of finished goods for the third successive month, though the rate of accumulation weakened to a marginal pace.

    Average cost burdens in China’s manufacturing sector fell for the fifteenth straight month in October. Despite easing since September, the rate of deflation remained sharp. Panellists overwhelmingly linked lower input costs to reduced prices for a broad range of raw materials, with metals mentioned in particular. As part of efforts to boost customer demand, companies generally passed on their savings in the form of lower selling prices. Moreover, the pace of discounting remained solid overall.

    Commenting on the China General Manufacturing PMITM data, Dr He Fan, Chief Economist at Caixin Insight Group said “The Caixin China General Manufacturing PMI for October is 48.3, up 1.1 points from the reading for September. The slight upswing shows the manufacturing industry’s overall weakening has slowed down, indicating that previous stimulating measures have begun to take effect. Weak aggregate demand remained the biggest obstacle to economic growth, and the risk of deflation resulting from the continued fall in the prices of bulk commodities needs attention.”

    The Caixin China Report on General Manufacturing is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 420 manufacturing companies. The panel is stratified by company size and Standard Industrial Classification (SIC) group, based on industry contribution to Chinese GDP. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report’ shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion’ index. This index is the sum of the positive responses plus a half of those responding ‘the same’.

    The Purchasing Managers’ IndexTM (PMITM) is a composite index based on five of the individual indexes with the following weights: New Orders -
    0.3, Output - 0.25, Employment - 0.2, Suppliers’ Delivery Times - 0.15, Stock of Items Purchased - 0.1, with the Delivery Times index inverted so that it moves in a comparable direction.

    Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

    Market Intelligence Services PS 14
  20. forum rang 10 voda 3 november 2015 16:41
    Essar Steel Minnesota behind on payments to some contractors - Report

    Minneapolis Star Tribune reported that cash hobbled Essar Steel Minnesota is in hot water again. Contractors and workers have called the state saying the company is late on payments for the massive $1.9 billion taconite production facility being built on the Iron Range.

    Some contractors said they are considering pulling workers from the job site, and a union representing workers there said others already have pulled some of their employees.

    State Rep Mr Tom Anzelc, who is also chairman of the Legislature’s Iron Range delegation said “Based on constituent calls and calls from businesses and workers I received, the buzz is that there appears to be another cash-flow issue at Essar with contractor and vendor payments being late [or] reduced. There have been layoffs at the site.”

    Reasons for the layoffs are more complicated than the late payments, said Mitch Brunfelt, assistant general counsel for Essar. He said “My understanding of the reductions in staff we have had thus far is not related to that. Instead, one contractor laid off 30 workers two weeks ago because its part of the project was completed. Another temporarily furloughed 50 workers until third-party engineering and supply-chain delays clear up. Yet another group of workers will soon get time off for deer hunting season. We are working to get current on our payments to contractors, and they are working with us. We understand that we need to get current with our contractors or they will eventually have to pull workers off the site. We understand that.”

    Essar originally was going to build a steel production plant in Nashwauk. It pulled back, however, to a taconite operation that instead of opening Oct. 1 will start production next year.

    The state of Minnesota has been pulled into Essar’s financing woes. Essar owes the state nearly $67 million in grants and $6 million in state-issued loans after failing to comply with the terms of an agreement in which Essar promised to deliver a working iron ore-to-steel mill by Oct. 1. Essar and the state are in negotiations over how that money will be paid back. Officials at the Minnesota Department of Employment and Economic Development said negotiations continue. Brunfelt said Essar officials are waiting to hear back from the state on its latest proposal.

    Source : Minneapolis Star Tribune
    Bijlage:
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