January, 19 2007
SAIL plates used in ISRO rocket
Steel Authority of India Limiteds Rourkela Steel Plant has supplied special quality steel plates to Misra Dhatu Nigam Limited, for use in an indigenously built rocket which was launched the Polar Satellite Launch Vehicle C-7 into orbit from Sriharikota Space Centre in Andhra Pradesh.
The plates were rolled at RSPs plate mill and then supplied to MIDHANI , which after fabrication and ageing treatment dispatched them to Vikram Sarabhai Space Centre.
Maraging steel is one of the strongest steels with a tensile strength beyond 200 KG per square mm. It is used in all stages of launching rockets, as it is resilient enough to withstand the huge amount of stress that develops during the launching process.
As per reports SAILs RSP is the only plant in Asia to process such plates, which dispatches around 50 to 60 plates to MIDHANI every year.
Pakistan allows import of steel from India for reconstruction
The Pakistani government has allowed the import of mild steel reinforcement bars grade 40 & 60, mild steel angle iron sections graded 40 & 60 and corrugated galvanized iron sheets SWG falling under their respective headings shall be importable from India up to March 31st 2007 via land route as well, for exclusive use in the reconstruction of earthquake affected areas.
The Ministry of Commerce on the recommendations of the Earthquake Reconstruction and Rehabilitation Authority has taken this decision and following amendments shall be made in the Import Policy Order of 2006.
Namely: In the aforesaid Order, in paragraph 16, under heading B in clause (viii), for the second proviso, the following shall be substituted, namely: - Provided further that mild steel reinforcement bars grade 40&60,mild steel angle iron sections graded 40&60 and corrugated galvanized iron sheets SWG falling under their respective headings shall be importable from India up to the 31st March, 2007, via land route as well, for exclusive use in the reconstruction of earthquake affected areas on the recommendations of the Earthquake Reconstruction and Rehabilitation Authority ".
Raspadskaya to supply coking coal to Indian steel makers report
Russian media has reported that Raspadskaya is going to settle a long term contract on the coking coal shipment to India.
As per report, the contract may cover the 5 year period with the shipment volume being set at 0.6 million tonnes of coal concentrate per year.
220KV transmission line planned between Nepal & India
It is reported that an IL&FS led team kick starting a project in collaboration with the Nepal Electricity Authority for constructing up to four dedicated 220 kV transmission lines for carrying electricity between India and Nepal. The proposed 220 kV lines would replace archaic 11 kV and 33 kV links in place at present, enabling exchange of substantially higher loads at much lower loss levels.
As per report Nepal Electricity Authority and IL&FS have signed a MoU to construct up to four 220 kV transmission lines from Nepal to India utilizing a USD 100 million line of credit extended by the Centre to the Nepal Government. An IL&FS, PTC India Ltd and Power Grid Corporation of India Ltd team will set up the Indian side of the corridor. The links are slated to come up at Butwal in Nepal, Gorakhpur in UP, Dhalkebar in Nepal, Muzaffarpur in Bihar, Duhabi Purnea in Bihar and Anarmani-Siliguri in West Bengal.
India is actively looking at harnessing the vast hydro potential of Nepal in the long term to plug shortages in the northern parts of the country. While, in the short term, the link is expected to enable Nepal to sell electricity to India during the rainy season and take power from India during winter. Nepal currently imports a minuscule 60-70 MW of power annually from India through 11 off-take points on the border under the old Power Exchange Agreement of 1971.
TATA Steel to empower chairman & MD for Corus bidding Report
ET, citing unnamed sources, reported that TATA Steel Ltd's board is likely to empower Mr Ratan Tata chairman and Mr B Muthuraman MD to take a final decision on a revised offer price for Corus before January 30th deadline.
The report mentions various levels of bid by TATA Steel for Corus, starting from 530 pence per share to 600 pence per share and likely strategy of increasing bid in steps.
PSLs Q3 net surge by 54% YoY
PSL Ltd has reported a 54.5% increase in net profit in the December quarter due to a buoyant market and soft steel prices. The company reported a net profit of INR 208 million on net sales of INR 4.99 billion in the October to December quarter.
Mr Ashok Punj MD of PSL said "If we are able to secure 50% of the bids we have made, we will see a quantum jump in our top line in the next fiscal. We are hopeful that the upcoming financial year will see a boom in the pipeline industry."
PSL has bid for several projects in India and abroad, including high value contracts, in the USD 300 to USD 400 million ranges, in Malaysia and US. Some of these would be awarded in the next 2 to 3 months, he said.
BHEL completes phase one of Korba thermal power plant
Engineering major Bharat Heavy Electricals Ltd has finished constructing phase one of the Korba East thermal power projects, which is set to start commercial production by March to April in Chhattisgarh.
The construction work of the first phase was completed this week while the second phase will be completed by August; the second unit is scheduled to begin generation by November to December.
The state government awarded the INR 22 billion Korba East contract to BHEL in April 2004 to install a 500MW coal fired power plant during a 3 year period.
Court orders Essar for payment of wheeling charges to GETCO
IRIS reported that the Gujarat high court has dismissed a petition filed by Essar Steel and directed the company to pay wheeling charges of about INR 120 million for the period between March 2005 and December 2006 to Gujarat Energy Transmission Corporation.
Essar Steel had moved to the high court after GETCO suddenly started issuing bills from January 2005 for the wheeling charges. Wheeling charges are being levied on Essar for using the distribution system of GETCO for transmission of electricity from Essars captive power plant at Hazira.
The wheeling process involves transfer of electricity generated in a captive power plant of a company to other industrial units within the company or to any units of its group companies.
Lanco signs MoU for power plant in MP
Lanco Group subsidiary Lanco Infratech has signed a MoU with the Madhya Pradesh government for setting up a 960 MW to 1,440 MW capacity mega coal based power project in the state.
The energy department of the Madhya Pradesh government will facilitate the project development activities by extending cooperation to Lanco and has reserved the first right of purchase up to 30% of the power generated from the project. The balance power can be sold to any other state through competitive bidding.
CESC eyeing overseas coal mines
It is reported that the CESC is all considering acquiring overseas coal mines for fuelling its proposed power projects at Haldia in West Bengal, Jharkhand and Orissa and is exploring the opportunities in Indonesia for acquiring coal blocks as well.
Mr Sanjiv Goenka VC of CESC said that CESC proposes to invest over INR 16,000 crore in power over a period of 7 years for generating additional 4,200 MW capacity, so its needs to tie up big coal blocks immediately. Mr Goenka added that the group was exploring the possibility of acquiring overseas mines but nothing had been formalized yet. He also admitted that the group has submitted bids for three coalmines in the second round of bidding, but refuse to give details.
ICML an associate company of CESC is at present the owner of a coal block at Sharsatali in West Bengal. The company supplied coal solely to CESC as a coal linkage. ICML currently enjoyed rights to an estimated coal reserve of 80 million ton at Sharsatali. The mine had an annual production of around 2.2 million ton.
Delhi HC notice to Centre, NTPC on coal block allotment
Delhi High Court has issued notices to the central government and NTPC Ltd on a plea filed by Satna Power Corporation Pvt Ltd seeking quashing of the government's decision to allot coal blocks to the public sector company and said that any allotment would be subject to the final order of the court although it refused to cancel the allocation.
Satna Power Corporation has challenged centers decision to allocate four coal blocks at Kerandari and Chhati Bariatu in Jharkhand, Chhatrasal in Uttar Pradesh and Dulanga in Orissa to NTPC. It contended that the government by passed the screening committee meant to scrutinize proposals received for captive mining by power generation companies, as the allotment of coal blocks were to be made only on its recommendations.
The government in August to September 2005 advertised in respect of 20 coal blocks and 11 lignite blocks for allocation as captive mining blocks but it did not include these four blocks, which have been given to NTPC.
OCL India to demerge steel and real estate operations
OCL India Ltd has announced that its board of directors at a meeting held on January 18th 2007 has given in principle approval for the demerger of its sponge iron & steel and real estate operations into separate companies.
OCLs board has further authorized Mr YH Dalmia director to prepare the schemes for the demerger in consultation with the experts and place the same before the Board in its next meeting for consideration and approval.
OCL India is part of the JD Dalmia Group, which was incorporated in 1949 and its principal activity comprises cement, refractories, soda ash and ammonium chloride. Its main products are silica bricks and shapes for coke ovens and glass, basic refactories, magnesia carbon, high alumina, fireclay, castables, precast and continuous casting. However, cement and refractories continue to be the mainstay of its operations.
Esmark & Mittal Steel deal for Weirton likely Report
US media reported that Arcelor Mittals Weirton plant, formerly Weirton Steel Corp, could become part of Esmark and citing sources close to the situation said that an announcement from Arcelor Mittal is expected shortly. The report said that Arcelor Mittal is expected to confirm shortly that it had reached a memorandum of understanding regarding the sale of tin assets in Weirton.
Mittal Steel said that it is in negotiations to sell parts of its West Virginia operations to Illinois based Esmark Inc. But, Mr Dave Allen spokesman of Mittal Steel said We do not have a definitive agreement on any of the deal terms.
Mittal Steel acquired Weirton when it merged with ISG in 2005. ISG had been formed from a group of bankrupt steel companies purchased by investor Mr Wilbur H Ross. Weirton had entered bankruptcy in May 2003 and was bought by ISG in 2004. In June 2005, Mittal shut down Weirtons blast furnace, continuous caster and steelmaking basic oxygen furnace, announcing plans late in 2005 to focus on Weirtons tin business as its future.
Arcelor Mittal is under a consent decree with the US Department of Justice to sell one plant out of Dofasco, Sparrows Point plant or Weirton plants. The Justice Department has until January 28 to choose a sale target for Mittal Steel.
South Africas domestic steel sales hit record in 2006
South African Iron and Steel Institute has announced that domestic dispatches of primary carbon steel products in 2006 set a new record with 5.8 million tons up by 10% as compared to the previous record set in 1981. Domestic carbon steel supply came in at a record 5.337 million tons during the year up by 26.2% higher than the previous record of 4.23 million tons in 2005.
SAISI said in a report that last year 2.351 million tonnes were exported, 30.8 % less than in 2005 as more steel was diverted into the local market, where demand has picked up mainly on sharply higher infrastructure spending. Meanwhile imports are expected to have soared by 60% from 0.336 million tonnes in 2005 to 0.540 million tonnes in 2006. SAISA in a statement said that "If the projection is correct, imports in 2006 will be higher than in any year for more than thirty years."
Fuelling local demand is economic growth and a ramp up of construction activity under a multi billion dollar spending plan by the government to boost infrastructure over the next three years and preparations for the soccer World Cup in 2010.
Ronsard Island in Pilbara identified as site for new iron ore port
It is reported that Ronsard Island, about 80 kilometer west of Port Hedland, has been recommended for the Pilbaras next major iron ore port to meet the increasing demand for iron ore exports.
Ms Alannah MacTiernan WAs minister for planning and infrastructure said that if iron ore exports grew as predicted, they could exceed the capacities of existing ports at Dampier, Port Hedland and Cape Lambert within a decade. Ms MacTiernan said Areas within a new port would be set aside for major iron ore companies to build and manage their own infrastructure, as in Dampier and Port Hedland. There would also be areas for common user berths for smaller companies and other shipping, overseen by a port authority, possibly a combined Pilbara Port Authority.
Ms MacTiernan said With iron ore exports potentially growing from 235 million tonnes a year, to as much as 595 million tonnes over the next 10 years, we could need a major new iron ore port as early as in six years time if the high growth scenarios are realized. While the capacity of existing ports could potentially be expanded from 240 million tonnes currently, to about 540 million tonnes, estimates for possible future export demand are as high as 890 million tonnes by 2025. That is why the Government has begun the process of selecting a site for a new port with a capacity of more than 300 million tonnes, or about three times Port Hedlands current throughput.
A preliminary study by independent consultants examined six possible sites at Cape Preston, West Intercourse Island, Cape Lambert, Cape Thouin, Sherlock River & Ronsard Island and identified Ronsard Island as the site with the greatest potential to satisfy multiple users. The consultants identified Sherlock River as the next best site.
Factors that were considered to assess the suitability of sites for a new iron ore port included
1. Proximity to likely areas of iron ore mining expansion
2. Potential environmental impacts
3. Capacity to meet the future needs of the industry
4. Proximity to supporting infrastructure
5. The availability of construction materials
6. Concerns with geology and geotechnical issues
7. Concerns with potential flooding
8. The relative degree of shelter
9. The relative development costs of providing basic infrastructure
Further investigation of environmental, heritage, marine, coastal engineering, geological and geotechnical issues would now be undertaken to confirm its suitability. The Government would consult with stakeholders including industry, local government and indigenous communities during these investigations.
Mittal Steel SA to reline Vanderbijlparks D blast furnace
Mittal Steel South Africa announced that it will reline a blast furnace D at its Vanderbijlpark plant at a cost of RAND 578 million rand to add 150,000 tonnes of hot metal production, as a part of Mittal Steel SA's already announced 8 billion rand capital expenditure program over a number of years to increase its liquid steel output. Currently this furnace produces 1.7 million tonnes a year.
The reline will see the total replacement of the furnace shell, enlargement and modernization of the stock house, replacement of the hot blast system, replacement and modernization of the cooling system, replacement and modernization of the charging system, partial replacement of the off-gas system, modernization of the cast house, partial replacement of the slag granulation system, modernization and replacement of electrical and control system and full replacement of refractory lining. The relining is scheduled to start next month and would last for 95 days.
Mittal Steel South Africa is managing the project work but main contractors include Grinaker LTA, ELBateman Engineering, Babcock, Harisson and White, Dickinson Refractory and Group Five. Equipment and refractory are being supplied from all over the world including China, Brazil, Italy and South Africa.
Mr Rick Reato CEO of Mittal Steel SA said that the reline is a major part of the company's expansion program and will go a significant way to improving production capacity at Vanderbijlpark. He said "The additional capacity we are adding at Vanderbijlpark will allow Mittal Steel South Africa to be able to meet the increasing domestic demand for steel, especially from the construction sector in the run up to the Soccer World Cup in 2010."
To limit the impact of the shutdown of the blast furnace on its customers, Mittal Steel SA has imported 135,000 tonnes of slabs to beef up its stocks to meet their needs during this period.
Venezuela may nationalize mining sector
The Associated Press citing Mr Nicolas Maduro foreign minister of Venezuela has reported that Venezuela is considering nationalizing its mining industry, a week after Mr Hugo Chavez announced plans to bring the electricity and telecommunications sectors under state control.
Mr Maduro said that "The basic mining industries should be in the hands of the national state which guarantees the distribution of riches. Mr Maduro said that foreign investment continues to flow into Venezuela and that Brazilian construction firms performing large infrastructure works can continue operating normally.
Brazilian mining giant CVRD has been studying the development of coal deposits in Socuy. Canadian mining firm Crystallex International Corp has an operating agreement to develop Venezuela's Las Cristinas gold mine. The company is awaiting permits to develop the mine.
He said the government does not plan to nationalize the auto industry practically 90 % of the automotive factories are in private hands, and will continue so."
Mr Chavez last week before being inaugurated for a new term as Venezuela's president said that The nation should recover its ownership of strategic sectors." He has announced an ambitious project to mold Venezuela into a socialist state.
Corus shares hit 541 pence on speculation of higher offers
On the speculation that TATA Steel will increase its offer for Corus, to out bid CSN, the shares of Corus rose to the years high level of 541 pence on the London Stock Exchange surpassing the previous year high of 540.50 pence.
TATA Steel made the opening offer at 455 pence per share on October 18th 2006. CSN than made a non committal offer at 475 pence per share on November 18th, which was topped by 500 pence per share offer by TATA Steel on December 10th 2006. This was again outbid by CSNs offer of 515 pence per share the next day fuelling a bidding war.
Britain's takeover regulator put the battle for control of Corus on the fast track by setting January 30th 2007 as the deadline for both TATA Steel and CSN to come forward with new offers and said that if a competitive situation continues to exist shortly before that date, it may require any revised offers to be published in accordance with an auction procedure.
Mechel announces closure of the privatization contract for Targoviste plant
Mechel has announces closure of the privatization contract for its Romanian steel plant Mechel Targoviste. Mechel said that the Authority of State Assets Recovery of Romania has formally confirmed the fulfillment of all the investment obligations undertaken by Mechel in purchasing the Romanian company Mechel Targoviste.
The privatization contract for Mechel Targoviste was concluded in August 2002. Mechel has completely met all its investment obligations regarding the four investment years and fulfilled in advance its obligations regarding the fifth investment year ending on August 28, 2007, and also resolved all social issues with the trade union that have accounted for closing the contract nine month earlier than the date stipulated.
Mechel invested in Mechel Targoviste over USD 38 million, as of August 31, 2006, including investments in its technical re equipment, environmental protection, repayment of the arrears to the budget and to the gas and eclectic power suppliers. An upgraded electric furnace was started up as a part of its implementation early this year. The development program for 2006-2009 envisages USD 35 million of investments in Mechel Targoviste. The upgraded continuous caster is planned to be put into operation early next year with the production capacity of about 500 thousand tonnes of billets annually, which will allow the company to put its operations completely on track of continuous casting technology.
Mr Alexey Ivanushkin COO of Mechel said "The earlier closure of Mechel Targoviste privatization contract is very important stage in the Company's activities in Romania. We have demonstrated the ability to fulfill our investment obligations not only within the stipulated framework but also exceeding them with the view of the soonest achievement of business success; and the state rendered us its support in that. The plant, for the first time, earned net profit in the third quarter of this year. Following the startup of the concaster and implementation of a number of technical arrangements, we see Mechel Targoviste as a steady operating and profitable enterprise."
As per release, Mechel is currently arranging to file the documents to close the privatization contract of its second Romanian company Mechel Campia Turzii.
Mechel Targovistes steel output amounted to 0.466 million tonnes and rolled products to 0.385 million tonnes for 2006.
Fire at Wheeling-Pittsburghs coke plant
It is reported that fire fighters were called to Wheeling-Pittsburgh Steel's Coke Plant Wednesday afternoon after a fire was reported inside the plant.
Mr Jim Bouchard CEO of Wheeling-Pittsburghsaid that the fire broke out in the bag house, an area used to clean up materials used in the plant. Mr Bouchard said little damage occurred and that the plant is operating at normal capacity.
There are no financial estimates on how much damage was caused.
OMKs Vyksa Plant to start a new thin wall pipe mill in February
United Metallurgical Companys Vyksa Steel Works OJSC will put into operation a new thin wall and shaped pipe mill. The project capacity of the mill is 10,000 tonnes per year. The investments in the project totaled some RUB 17 million.
The launch of the mill will enable VMZ to more than double its production of shaped tubes. The company is planning to reach annual production of 150,000 tons by 2008.
VSW was founded in 1757. The Works produces pipes of various grades, including big-diameter pipes for main oil and gas pipelines, as well as railroad wheels. In 2006, VMZ pipe production grew by 53% to 1.536 million tonnes.
Arcelor Mittal may restart idled US capacity in 6 months
Bloomberg reported that Arcelor Mittal may reopen idled US plants in the next six months because demand has improved from makers of industrial equipment and automobiles.
Mr Lou Schorsch CEO of Arcelor Mittal's flat- products unit in the US during a phone interview said We are bullish about end-user demand for the year. Despite the problems some of the traditional auto producers are having, we are still expecting 17 million units regardless. It's more an issue of market share.
Arcelor Mittal earlier said that it would idle blast furnaces in Ohio and Indiana indefinitely because of lower demand as manufacturers and metal distributors delayed orders and supplies of cheaper imports surged.
CISA & CCCMC to hold iron ore import conference in Kunming
China Iron & Steel Association and China Chamber of Commerce of Metal Minerals and Chemicals Importers and Exporters have issued 2 documents jointly announcing the 2007 criteria for iron ore importers and the guidelines for encouraging the import agency system wef February 1st 2007.
CISA is holding a conference in Kunming on January 20th & 21st inviting 74 steelmakers that qualify under the new rules to exchange views about the recent price rally in both domestic and imported iron ore market. The criterias are to be finalized by the end of this month after the meeting concludes.
CCCMC officials suggest that they don't intend to hold any further discussions ahead of the official enforcement of the new rules. The focus would be put on monitoring how the rules take effect after the final list was unveiled.
(Sourced from Mysteel.net)
Chinese steelmakers costs up due to higher sea freights
China's steel makers are suffering from mounting costs due to increasing in iron ore shipping charges.
Analysts said it is the peak season for shipping dry and bulk cargo and demand for ore and coal are on the rise worldwide resulting in overcrowding at major international harbors and will continue to be robust throughout the year.
According to analysts a price rise on international steel enterprises will likely buy more ore to replenish stocks before a new fiscal year begins.
Meanwhile, the 2007 qualification criteria for iron ore importers have been released, raising thresholds. This has compelled those who do not qualify for the new standards to buy as much as possible before the new criteria come into force.
The price of domestically produced iron ore is also rising. When prices of domestic ore start to come close to those on international markets, steel makers will prefer imports because of their higher quality. This has buoyed up prices of imported ores, according to analysts.
(Sourced from Mysteel.net)
Polish coal miners vote on strike over restructuring plan
It is reported that coal miners in southern Poland voted on whether to stage a strike in protest at restructuring plans aimed at mines' profitability and allowing privatization of individual mines and the results on whether to go on strike are expected Friday.
If miners vote in favor, their first action would be a 24 hour walkout on January 24th 2007.
Union leaders contend that the government plan would endanger jobs and cut earnings, and eventually would result in mines being closed.
Mr Pawel Poncyliusz deputy economy minister of Poland said that restructuring is aimed at keeping the struggling industry afloat and argued that unions' strike plans were illegal.
About 120,000 people now work in Poland's mining industry, some 200,000 less than at the end of communist rule nearly two decades ago.
Tagmet MD elected as member of IQA
TMK has announced that the Institute of Quality Assurance in Great Britain elected Mr Nikolai Fartushny MD of the Taganrog Metallurgical Works as the member of the Institute.
The release said that membership in the prestige institute was awarded to Mr Fartushny for his personal contribution into development of the certified quality assurance system of Tagmet in accordance with international standards ISO 9001-2000 API Spec-Q1, ISO-14001, OHSAS-18001 and improvement of quality of products produced by Tagmet.
The Institute of Quality Assurance in Great Britain represents one of the oldest organizations in the area of development and certification of quality systems in the world. The Institute was founded in 1919. At present its members number more than 13 thousand persons and more than 600 enterprises and companies.
CMC files charges against Mr Talbot of Macarthur Coal
Australias Crime and Misconduct Commission has charged Mr Gordon Nuttall former Queensland health minister and Mr Ken Talbot founder of Macarthur Coal with corruption.
Mr Nuttall has been charged with 35 counts of corruptly receiving payments between October 2002 and September 2005 over a secret $300,000 loan from Mr Talbot and directed to appear in Brisbane Magistrates Court on January 25th 2007. A CMC spokeswoman said the corruption watchdog had also initiated proceedings to restrain Mr Nuttall from dealing with property registered in his name.
Mr Talbot also faces 35 counts of corruptly making payments and will appear in Brisbane Magistrates Court on February 5th 2007. He voluntarily stood aside as CEO of Macarthur Coal in November pending the results of the investigation.
Mr Keith De Lacy chairman of Macarthur Coal said The matter is personal to Mr Talbot and will not affect Macarthur Coal's operations. The arrangements that were put in place when the issue first arose will continue and are working well. It is business as usual for Macarthur Coal and we remain focused on the efficiency of our operations and development of the project pipeline.
6 miners rescued form flooded iron ore mine
It is reported that 6 of the 35 miners trapped in the flooded iron ore mine near Baotou in China China's Inner Mongolia Autonomous Region were rescued after a tilted tunnel was dug to reach one of the vertical shafts. The rescued miners were rushed to the nearest hospital.
36 miners were trapped in Haolaigou Iron Ore Mine in Donghe District near the city of Baotou, which was flood shortly after midnight on Wednesday when miners were changing shifts and only 11 miners escaped.
Chaoyue Mining Co. Ltd of Baotou City is a private company created in 2001 and owns Haolaigou Iron Ore Mine, which is capable of producing 100,000 tons of fine iron ore a year.
CSC posts USD 1.45 billion net profit for 2006
Taiwan's largest steelmaker China Steel Corp has made TWD 47.6 billion (USD 1.45 billion) in before tax profits in 2006 despite investment losses in another company.
A company spokesman said the profits from total revenue of TWD 177.6 billion last year would translate into before tax earnings of TWD 4.31 per common share.
The spokesman added that China Steel is looking forward to more than TWD 50 billion in pre tax profits this year,
ChTPZ increase pipe shipments in 2006 by 14% YoY
Russian ChTPZ Group announced that its enterprises posted a 14% YoY increase in pipe shipments in 2006 to 1.72 million tonnes.
ChTPZ Group said "The increased shipments resulted from a growth in sales involving all main commodity lines, largely, the segment of large diameter pipes, pump compressor and seamless line pipes, due to increased deliveries to the group's traditional consumers Gazprom, Transneft and vertically integrated oil companies,"
Based in the southern Urals, ChTPZ Group incorporates the Chelyabinsk Pipe Rolling Plant, the Pervouralsk New Pipe Plant, the Chelyabinsk Zinc Plant, ChTPZ Integrated Pipe Systems engaged in pipe components production and sale, Metris metals sales company and ChTPZ-Meta ferrous scrap procurement, processing and sales company.
Panzhihua Steel active in sourcing iron ore
Panzhihua Steel, in West China's Sichuan Province, lately held 2007 iron ore order conference, having more than 60 local and neighboring provinces' suppliers attended.
Panzhihua Steel requires an annual iron ore amount of 11 million tonnes and with a part being self supplied, it still demands for pellet, high grade and medium grade ore fine and lumps of 7 million tonnes in total.
At the conference, the steel maker's spokesman expressed wishes to further tie up with the suppliers, and support their growth by deep reforming at the company itself. The steel maker has obtained mutual development by cooperating with the suppliers. A batch of supply contracts were inked at the conference.
(Sourced from Mysteel.net)
WBMS reports world zinc deficit during January to November
According to World Bureau of Metal Statistics, global zinc market was in a deficit of 277,000 metric tons during January to November 2006, with reported stocks some 376,000 tons lower and Zinc mine production was 8.69 million tons to 205,000 tons above the same period of 2005.
WBMS said the proportion of total stocks held in LME warehouse has declined from 47% at the end of 2005 to less than 19% at the end of November 2006.
Evraz appoints Mr Delaunois as independent director
Further to its announcement of 11 December 2006, Evraz Group has announced the appointment of Mr Alexander Frolov as CEO and Mr Philippe Delaunois as independent director of the company after these resolutions were approved in its EGM.
Mr. Delaunoi, born in Belgium, was MD and CEO of Cockerill Sambre during 1987-1999. He was adviser to the Algerian government in the privatization of the steel industry during 2001. He has served on the boards of directors of many Belgian and international companies.
Raspadskaya unveils investment plans
Russian coal producer Raspadskaya intends to invest USD 327 million in development in 2007 to 2010, out of which USD 127 million investments will be done during 2007 to reach 17 million tonnes capacity.
Mr Gennady Kozovoi GD Raspadskaya told a briefing that out of USD 127million investment in 2007 for development of the production process, 75% will be spent out of own assets and 25% out of the loans.
The main portion of funds will be spent to modernize the mine and support present capacities in operation as well as to launch the new mint Raspadskaya Coke and build the second stage of the enrichment plant. The new mine is likely to be launched in operation in 2008 with 3 million ton of coal a year in the output. The total capacity of the mine is considered to reach 13 million ton of the coal after modernization. The second stage of the project will demand USD 126million.
Arcelor Mittal sells Huta Bankowa to Alchemia SA Capital Group
Arcelor Mittal has announced the agreed sale of Huta Bankowa to Alchemia SA Capital Group, as part of Mittal Steel's commitments to the European Commission during the recommended merger of Arcelor and Mittal Steel NV.
Huta Bankowa, a 100% subsidiary of Arcelor Mittal, is located in Dabrowa Gornicza in Southern Poland. The business comprises three main divisions: a rolling mill, with production capacity of 150,000 tonnes, a forged rings department with production capacity of 26,000 tonnes and a service centre. In 2005, Huta Bankowa generated a turnover of EUR 81 million. The company is a specialised producer of merchant bars and sections. For selected products, Huta Bankowa is the leading or sole producer in Poland. There are 750 employees.
Mr Aditya Mittal CFO of Arcelor Mittal said "This is an excellent outcome. Huta Bankowa and Alchemia will be a good fit together. With this transaction we will have fulfilled all our competition commitments to the European Commission."
Following Mittal Steel's bid for Arcelor last year, the European Commission identified competition concerns in relation to sections. In response, the company committed to dispose of three European medium & heavy section mills, two of which have already been agreed: the first being the sale of Stahlwerk Thringen on December 6th 2006 to Grupo Alfonso Gallardo and the second on December 13th the sale of Travi e Profilati di Pallanzeno to Duferco. All together, the disposal of those 3 mills has been done for an enterprise value of about USD 1 billion.
