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9/4/2015 - AIIS warns

Protectionist trade policies threaten economic growth

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Imposing duties on hot-rolled steel flat products from seven countries “would result in a negative effect upon the steel supply chain and, as a result, inhibit economic growth,” a representative of the American Institute for International Steel (AIIS) told International Trade Commission (ITC) staff on Tuesday. Six domestic steel companies are seeking to have antidumping duties imposed on the imports of certain hot-rolled steel flat products from Australia, Brazil, Japan, the Netherlands, South Korea, Turkey and the United Kingdom, and countervailing duties on imports of the products from Brazil, South Korea and Turkey.

Source: AIIS, Falls Church, VA
9/3/2015 - Price transparency

Platts China Steel Rebar Export Price Assessment goes daily

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Platts, a global energy, petrochemicals and metals information provider and a premier source of independent benchmark price references, Tuesday increased the frequency of one of its steel price assessments aimed at those procuring Chinese exported material. The Platts price assessment for steel reinforcement bar (rebar) free on board (FOB) in China is now published daily instead of weekly. The physical spot market price of rebar on an FOB China basis was assessed Tuesday at $282.50 per metric ton (/mt), down $7.50/mt, or 2.6%, from the beginning of August, Platts data showed. This is the lowest level the price has reached since October 2006, when Platts started publishing the assessment. 

Source: Platts, Shanghai
9/2/2015 - Iran

Outotec awarded a contract for iron ore beneficiation plant

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Outotec has been awarded a contract by Iran International Engineering Company (Iritec) for the delivery of process technology to Khorasan Steel Complex Co's new iron ore beneficiation plant in Iran. Outotec's contract value is EUR 45 million, of which approximately EUR 10 million will be booked in the third quarter 2015 order intake.

Source: Outotec, Espoo
9/2/2015 - 9% of the total exports of the Asian country

In January / July 2015, Latin America received 5 million t of steel from China

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In January-July 2015, China shipped 5 million t of finished steel to Latin America, 6% more than the 4.7 million t recorded in the same period of 2014. Total exports of finished steel from China continue to grow and reached 56.4 million t between January and July 2015, 28% more than in the same period of 2014. Latin America accounted for 8.9% of these exports, vs 10.7% registered in Jan/Jul 2014. After more than two years as the second largest destination for Chinese steel, the region came to a third place in July, after South Korea (that received 7.3 million t in the period, 12.9% of the total) and Vietnam (that received 5.3 million t, 9.4% of total). In July 2015, Latin America received 590,000 t of finished steel from China, 7% less than in June 2015 (637,000 t) and 16% less than the volume received in July 2014 (705,000 t).

Source: Alacero, Santiago, Chile
8/31/2015 - Eurofer

Definitive anti-dumping duties on China and Taiwan stainless steel imports a crucial measure

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The European Commission published definitive anti-dumping duties on imports of stainless steel cold-rolled flat products (SSCR) originating in China and Taiwan (Regulation 2015/1429). Eurofer greeted the measure as an important move given the long term implications of the dumping of these products on the EU market.

Source: Eurofer, Brussels
8/28/2015 - worldsteel

2015 worldsteel map of China steel mills available now

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The World Steel Association (worldsteel) has published the 2015 edition of its map of Chinese mainland steel plants. It is available for purchase as a large format wall poster or a PDF file on worldsteel.org. The map shows the geographical and economic landscape of the country’s steel industry at a glance. It includes information such as:

  • Crude steel production and steel product type by company 2014
  • Production of crude steel, iron ore and coke by province 2014
  • Steel production by product type 2014
  • Crude steel production and apparent crude steel use since 2001
  • Apparent crude steel use per capita since 2001
  • Structure of iron ore supply since 2001

The map is available for purchase from the bookshop at http://www.worldsteel.org/ . The colourful poster measures 120cm by 67.5cm.

Source: worldsteel, Brussels
8/24/2015

BlueScope may shutter Australian steelmaking on China

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BlueScope Steel Ltd. warned it may shutter its Australian and New Zealand steelmaking operations after prices plunged amid increased exports from China.

The company, which has a century-long history of steelmaking in Australia, said it needs government support to keep operating its two remaining primary plants at Port Kembla and Glenbrook. This is even though it’s targeting more than A$200 million ($145 million) in cost savings as part of a review.

 “We are committed to the delivery of the targeted savings,” Chief Executive Officer Paul O’Malley said Monday in a statement. “If this target is not achievable, we will have no option but to move to external supply of quality hot-rolled coil and billet steel feed with mothballing or closure of steelmaking.”

China’s finished steel exports doubled to a “run-rate” of 100 million t/a since the three years ended 2013, O’Malley said. That’s equivalent to 20 times the annual output of BlueScope’s Port Kembla plant in New South Wales state. That makes it more economic to import than keep operating its blast furnaces, the company said.

BlueScope, which also said it’s reviewing iron sands exports from New Zealand, said underlying earnings before interest and tax this half will be similar to the A$131 million in the half ended June 30. The company reported full-year net profit after tax of A$136.3 million.

The company’s shares climbed 12 % to A$3.79 at 10:45 a.m. in Sydney, trimming the decline for the year to 32 %.

Source: www.bloomberg.com
8/21/2015 - worldsteel

July 2015 crude steel production decreases

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World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 133 million t (Mt) in July 2015, a -3.8% decrease compared to July 2014. China’s crude steel production for July 2015 was 65.8 Mt, down by -4.6% compared to July 2014. Japan produced 8.8 Mt of crude steel in July 2015, a decrease of -4.9% compared to July 2014. India’s production was 7.7 Mt, up by 1.2% on July 2014.

Source: worldsteel, Brussels
Stainless and heat-resisting steel melt shop production [1 000 metric t]. Source: ISSF
Stainless and heat-resisting steel melt shop production [1 000 metric t]. Source: ISSF
8/19/2015 - First three months of 2015

Stainless Steel production turns out at 10.4 million metric tons

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The International Stainless Steel Forum (ISSF) has released figures for the first three months of 2015 showing that at 10.4 million metric t (mmt) stainless steel melt shop production was at the same level year–on–year. Production increased in the Americas and in Asia without China.

Source: ISSF, Brussels
James F. Palmer. Photo: Timken
James F. Palmer. Photo: Timken
8/17/2015 - Retired CFO of Northrop Grumman Corp.

Timken Board of Directors elects James F. Palmer

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The board of directors of The Timken Company elected James F. Palmer, retired CFO of Northrop Grumman Corp., on thursday a director of the company for a term that will expire at its May 2016 annual meeting. The election brings The Timken Company board to 12 directors

Source: The Timken Company, North Canton, Ohio
8/17/2015 - Complement the tailings management solutions

Outotec acquires Canadian company Kovit Engineering Limited

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Outotec has acquired the Canadian based Kovit Engineering Limited from its founders. Kovit Engineering is one of the leading technical consulting and engineering companies specializing in surface and underground mine tailings solutions. Tailings are the materials left over after the process of separating the valuable fractions from the ore. The acquisition complements Outotec's existing dewatering and tailings treatment solutions and services as well as strengthens Outotec's position as a global provider of sustainable tailings management solutions. The parties have agreed not to disclose the acquisition price. The acquisition will not impact Outotec's financial guidance for 2015.

Source: Outotec, Espoo
8/14/2015 - Finland

Outokumpu Group headquarters relocates from Espoo to Helsinki

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Headquarted in Finland, the Outokumpu Group has leased approximately 4000 m2 of business premises for its head office functions from Varma Mutual Pension Insurance. Outokumpu Group headquarters will relocate from Niittykumpu, Espoo to Salmisaari in Helsinki, street address Salmisaarenranta 11, during 2016. Outokumpu moves to the new premises following the expiration of the current lease agreement. The relocation will also contribute to the ongoing cost saving efforts in the company.

Source: Outokumpu Oyj, Espoo
8/10/2015 - Domestic demand, prices increased on restocking ahead of Victory Day parade in Beijing

Platts China Steel Sentiment Index rebounded strongly in August

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The outlook for new steel orders and steel prices in China rebounded strongly in August on the back of improved expectations for domestic demand over the next month, according to the latest Platts China Steel Sentiment Index (Platts CSSI), which showed a headline reading of 55.1 out of a possible 100 points in August.

Source: Platts, Beijing
8/5/2015 - Expanding the product portfolio

Timken to acquire Carlstar Belts Business

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The Timken Company announced that it has reached an agreement with American Industrial Partners to acquire the Carlstar Belts Business, a leading North American manufacturer of belts used in industrial, commercial and consumer applications under well-recognized brands including Carlisle, Ultimax and Panther, among others. The transaction is expected to be accretive over the balance of 2015. For the 12 months ending June 30, 2015, Carlstar Belts sales were approximately $140 million.

Source: Timken Company, North Canton, Ohio
8/3/2015 - Premium tubular solutions

Vallourec reports 2nd quarter and 1st half 2015 results

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Vallourec announces its results for the second quarter and first half of 2015. The consolidated financial statements were presented by Vallourec’s Management Board to its Supervisory Board on 30 July 2015. H1 2015 financial results continue to be affected by reduced demand: Revenues at €2,070 million, down 23.1% year-on-year (down 28.7% at constant exchange rates); Ebitda at €66 million, compared to €444 million in H1 2014; Positive free cash flow of €3 million in H1 2015 and €33 million in Q2 2015, better than anticipated. Valens and short-term measures on track: 2/3rd of the 450+ Valens initiatives started; Global staff reduction of 1 600 over the first half of 2015, including close to 1 000 permanent jobs; €112 million working capital reduction in Q2 2015; Capital expenditure revised down to around €300 million in 2015. Outlook: Further deterioration in H2 2015; Vallourec continues to target a positive free cash flow generation in 2015.

Source: Vallourec, Boulogne-Billancourt

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