Arcelor Mittal, Russia Metals and Mining
According to the forecast of the largest steel producer in the world ArcelorMittal, during 2017 the volume of the world steel consumption may increase by 0.5-1.5% after the 1% improvement in 2016.
Excess of cheap steel on the global market led to the fact that in recent years the number of anti-dumping investigations in this area increased dramatically. The industry believes that its main threat is a sharp increase in the production in China, but closing from cheap Chinese steel importing countries also block the supply of metal from other countries, including Russia. It becomes increasingly difficult for domestic steelmakers to fight a wave of isolationism on their traditional overseas markets, and they can redirect the export to other countries always.
Since 2010, Russian steelmakers exported about one-third of the produced steel - 25-27 million tons of rolled products per year. These volumes are less than the export sales of 2008-2009, which reached 30 million tons, and may even decline because of the surge in protectionist investigations worldwide. According to the Ministry of Economy, in 2014-2015, 18 new investigations and revisions of measures affecting exports of Russian steel industry were initiated abroad, and eight of them have ended not in favor of Russia.
The net loss of ArcelorMittal rose by 9.6 times to $1.26 bln over 9 months.
Diluted loss per share made up $0.70 against the loss of $0.08 in Jan-September 2014. The company’s sales in Jan-September 2015 fell by 18.1% to $49.597 bln. The operational profit fell by 52.5% to $1.17 bln in Jan-September 2015.
In Q3 ArcelorMittal made a net loss of $711 mln while in Q3 2014 it made a profit of $22 mln. Diluted loss per general share made up $0.40 against the profit of $0.01 in Q3 2014. Meanwhile the sales volume in Q3 fell by 22.3% to $15.589 bln. The operational profit made up $20 mln having fallen in annual terms by 47.95 times.
Iron ore extraction in Jan-September 2015 made up 47.3 mln tons against 47.2 mln tons in Jan-September 2014. In Q3 ArcelorMittal extracted 15.4 mln tons of ore, by 2.5% less than in Q3 2014. Crude steel output in Jan-September 2015 rose by 1.14% to 70.8 mln tons, in Q3 fell by 3.3% to 23.1 mln tons.
ArcelorMittal explains its weak financial results by the steel price fall and low export prices.
The value of the contract is not released.
Metalloinvest of A. Usmanov has signed a contract for the supply of iron ore raw materials with the largest in the world steel making company ArcelorMittal, Metalloinvest reports.
In conformity with the reached agreement, until April 2016 Metalloinvest will ship over 2 mln tons of iron ore concentrate to ArcelorMittal. The iron ore concentrate will be used at the European enterprises of the group, is reported.
The value of the contract is not released.
“The price making for the shipped products will be in conformity with the existing market indices. The formula takes into account the dynamics of prices in the world market of iron ore concentrate”, Metalloinvest reports.
The company sells coal assets in Kuzbass.
Foreign steelmakers continue to reduce the presence in the Russian Federation. Following Alcoa, which has sold the plant in Belaya Kalitva, ArcelorMittal of Lakshmi Mittal is getting rid of the Russian assets. It sells coal "Severniy Kuzbass", bought in 2008, for $ 720 million - NFC of the former managers of "Rostopproma". ArcelorMittal has been unable to develop an asset: in 2013 the production has fallen almost three times, but the Russian-Ukrainian conflict pushed it to sales, the market participants inform.
ArcelorMittal Krivoy Rog promises to invest $70 million into the construction of pulverized coal fuel unitEdited by Rhod Mackenzie / 2014-09-17 10:54:18
The Krivoy Rog mining and metallurgical combine ArcelorMittal Krivoy Rog (the Dnepropetrovsk region) will invest more than $70 million into the construction of a complex for the preparation and pulverized coal injection in the blast furnace №9 (the largest in Europe) that will allow it to eliminate the use of natural gas in the production of cast iron and to reduce the consumption of coke, Interfax-Ukraina writes.
As the press release of the company reports, the project provides for the construction of coal handling, storage and transportation system.
It is noted that it is planned to launch two mills with a total capacity of 83 tons of coal dust per hour for grinding of raw materials to the required fractions, and to install filters for the separation of air from dust. Dust-fuel from special bins will be distributed to the tuyeres of the blast furnace, through nozzles of which it will be directly injected into the furnace.
The metallurgical complex “ArcelorMittal Temirtau” postpones the terms of construction of a complex on the output of coated rolled stock. The project considered then installation of a new continuous galvanizing aggregate of 0.25 million tons of roll stock (from 0.2 mm thickness) production a year, and color coating line with a productivity rate of 0.1 million tons a year, Metal-Courier reports.
In 2013 the savings from the introduction of rational proposals at the Chelyabinsk Pipe Plant group enterprises is over 100 million roubles.Edited by Rhod Mackenzie / 2014-04-01 10:33:35
Last year, the employees of the Chelyabinsk Pipe and Pervouralsk Pipe factories have implemented 3000 rationalization proposals, the economic effect of their introduction was more than 100 million roubles.
The leaders – are white metal workshops, based on the production process of continuous improvement system which was laid at the design stage: "Height 239", savings - more than 50 million roubles; the Finishing Center, savings - more than 25 million roubles.