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APRIL 2013
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European Q2 ferrochrome contract prices rise
Recently the South African ferrochrome suppliers have reached agreement with the European stainless steel mills for the Q2 ferrochrome prices.
The ferrochrome contract prices are at USD 1.27/lb for the Q2, rising by USD 0.145/lb from a quarter ago.
In Europe the spot prices of ferrochrome have surged to USD 1.02~USD 1.06/lb from USD 0.97~USD 1.01/lb since this year. |
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MARCH 2013
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Belgium: The International Stainless Steel Forum (ISSF), which is based in Brussels, has appointed John Rowe as secretary general and member of its executive board. He replaces Pascal Payet‐Gaspard, who stepped down at the end of 2012.
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Acerinox review of stainless steel market in 2012
The overall situation is determined by strong domestic competition that has kept prices low despite improvements in global consumption.
Despite the difficult situation experienced in 2012, with economic uncertainties and the crisis in the Eurozone, the stainless steel market keeps showing its strength and world production has been 35.4 million tonne, 5.4% higher than in 2011, according to provisional data from the ISSF.
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European stainless steel output down 2% in 2012
According to the latest Bi Monthly Stainless Steel Briefing March 2013 report issued by Germany based service centre Damstahl in 2012 European stainless crude steel production amounted to 7.4 million tonne falling 2% compared to 2011. |
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FEBRUARY 2013
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New steel/scrap draft policy: News Section
Government's new draft policy could ensure that South Africa gets first option on its scrap metal, limiting the export of scrap to other countries. This is excellent for South Africa, from a business and economic point of view, employment at the mills, helping the country to push a low carbon growth trajectory, and answering the expectations of the Government's plans, such as The Industrial Action Plan.
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The Concrete Reinforcing Steel Institute (CRSI) has released a new Technical Note to its online collection. The new Technical Note is Frequently Asked Questions (FAQ) About Stainless Steel Reinforcing Bars (Engineering Technical Note ETN-M-2-12).
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ASTM A1082/A1082M, Specification for High Strength Precipitation Hardening and Duplex Stainless Steel Bolting for Special Purpose Applications, covers bolting used in oil and gas industries for offshore drilling platforms, sour gas service, expanders/compressors in pipeline service, power generation facilities, and heat exchanger and cryogenic applications. In addition to general requirements, standard includes supplementary requirements that apply only when specified individually by purchaser.
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A conference and exhibition on the theme 'The Development and Application of Stainless Steels' will be held 11-13 June in Sheffield UK.
To be held at The Edge, The Endcliffe Village, University of Sheffield the event is to to commemorate the centenary of the discovery of ferritic stainless steels by Harry Brearley.
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JANUARY 2013
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Sheffield is celebrating the centenary of the discovery of stainless steel with a year of events including a new book being produced by Sheffield Newspapers.
Harry Brearley’s breakthrough revolutionised the modern world and put Sheffield on the global map.
100 Years of Stainless Steel is a glossy, hardback book delving into ten decades of one of the world’s most important metals - discovered here in Sheffield in 1913.
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ASTM A1082/A1082M, Specification for High Strength Precipitation Hardening and Duplex Stainless Steel Bolting for Special Purpose Applications, covers bolting used in oil and gas industries for offshore drilling platforms, sour gas service, expanders/compressors in pipeline service, power generation facilities, and heat exchanger and cryogenic applications. In addition to general requirements, standard includes supplementary requirements that apply only when specified individually by purchaser.
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Sheffield is celebrating the centenary of the discovery of stainless steel with a year of events including a new book being produced by Sheffield Newspapers.
Harry Brearley’s breakthrough revolutionised the modern world and put Sheffield on the global map.
100 Years of Stainless Steel is a glossy, hardback book delving into ten decades of one of the world’s most important metals - discovered here in Sheffield in 1913.
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DECEMBER 2012
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THE 100th anniversary of the discovery of stainless steel in Sheffield will be marked by a year of events in the city in 2013.
The programme has been put together by a city-wide partnership led by Master Cutler Neil MacDonald with significant financial support from business in Sheffield.
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NICKEL prices may see a short-term lift over the next several months due to a seasonal rise in demand for stainless steel, but next year's outlook is burdened by another market surplus. |
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NOVEMBER 2012
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Nickel has lost ground in the past month, with spot prices falling from US$17,930 per metric ton on the London Metal Exchange to $15,975, according to prices from Metal-Pages
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The Nickel Institute has published the guide "Stainless Steels: Cost Efficient materials for the Global Biofuels Industries", written by Ms Kristina Osterman.
The introduction explains that "We are issuing this publication to help ethanol, bio diesel and biogas producers, process technology providers, developers, as well as plant designers and operators recognize those applications where economic benefits can be realized from selecting the appropriate grade of stainless steel."
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Gilt deal offers $450 stainless steel loyalty card
Whether Starbucks coffee is anything special is a matter of opinion, and yet the brand clearly has many caffeine addicts hooked.
But are they willing to fork over $450 to replace those plastic Starbucks cards with a stainless steel version? On Thursday, the coffee chain rolled out 5,000 limited-edition metal loyalty cards in a one-day Gilt deal that includes a $400 store credit and a Gold Level membership to My Starbucks Rewards. |
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OCTOBER 2012
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New auto incentive implementation on track, says Davies
Everything was “on track” for the transition from the Motor Industry Development Programme (MIDP) to the Automotive Production and Development Programme (APDP), said Trade and Industry Minister Dr Rob Davies on Wednesday.
In a prerecorded address to South African Automotive Week delegates in Port Elizabeth, he noted that government’s new support programme for the automotive industry, due for implementation in 2013, would be “more secure” in terms of international trade rules.
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The global stainless steel community is celebrating completion of 100 years of the corrosion resistant material across the nations since it was first created, patented and produced in the year 1912.
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Q4 ferrochrome price falls 12%
JOHANNESBURG (miningweekly.com) – The European benchmark ferrochrome price for the fourth quarter has fallen 12%, South African ferrochrome producer Merafe Resources reported on Thursday.
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First half stainless steel production stable – ISSF
Stainless steel production remained stable in the first half of 2012 at 17.22-million tons – a slight year-on-year decrease of 0.2%, the International Stainless Steel Forum (ISSF) reported on Monday. |
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SEPTEMBER 2012
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| First half stainless steel production stable – ISSF
Stainless steel production remained stable in the first half of 2012 at 17.22-million tons – a slight year-on-year decrease of 0.2%, the International Stainless Steel Forum (ISSF) reported on Monday.
China increased its stainless steel production by 1.1% to 7.08-million tons in the first six months of the year, while the rest of Asia boosted output by 2.2% to 4.5-million tons.
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Outokumpu has unveiled duplex stainless steel in the Chinese domestic water heater market, marking the development of the first duplex water heater tank in partnership with a local company, Phinx.
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| South African ferrochrome profitability down to zero – Danko Konchar
Profitability in South Africa’s ferrochrome industry was down to zero, Ruukki Group minerals CEO Danko Konchar said on Thursday.
Konchar, who emphasised that he was addressing the Metals Bulletin Events’ Fifth South African Ferro-Alloys conference in Johannesburg in his personal capacity, said that investment into the ferrochrome industry had dried up and the share prices of listed ferrochrome companies were in the doldrums |
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AUGUST 2012
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Nickel Institute wins award for contributions to stainless steel
The Nickel Institute's Beijing office has received an award for the organization's 'Outstanding Contributions to the Development of China's Stainless Steel Industry.'
The award was made at the 60th Anniversary Celebration of China's Stainless Steel Industrialization held in Taiyuan, China on July 25th 2012 and July 26th 2012. This high profile gathering hosted by the Stainless Steel Council of China Special Steel Enterprises Association attracted over 300 delegates involved in developing China's stainless steel sector including industrial representatives from home and abroad and international organizations.
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| SA exports 'crowded out' by Chinese products
South Africa has lost out on $900-million in trade with sub-Saharan Africa because of increased Chinese imports, costing the country more than 77 000 jobs over a decade, a new report by the University of East Anglia (UEA) from the UK has revealed.
South Africa’s industrial production, which grew by 14% between 2001 and 2010, could have been about 5% higher had the country not lost market share to China, while its exports to sub-Saharan Africa would have been 10% higher.
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South African mining production up – Stats SA
South Africa’s seasonally adjusted mining production increased by 7.1% in the second quarter of 2012, compared with the first quarter of 2012, Statistics South Africa (Stats SA) reported on Wednesday.
The main contributors to the second-quarter increase came from platinum group metals (PGMs), which contributed 4.5 percentage points and iron-ore, which contributed 1.8 percentage points to the growth.
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JULY 2012
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| Solar water heater target exceeded
The Department of Energy (DoE) installed over 281 000 solar water heaters (SWH) by the end of March, exceeding its target of 250 041 installations in the 2011/12 financial year, Energy Minister Dipuo Peters reported on Monday.
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| Acerinox earnings affected by weak market and growing capacity in China
It is reported that Acerinox, one of the major stainless steel producers in the world, faced significant earns drop of 40% in 2011 and a dip of 57% in the first quarter of 2012.
Analysts said that it is due to the demand for stainless steel is not positive, basically caused by weakness of European market and the growing capacity in China.
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The Southern Africa Stainless Steel Development Association held its annual AGM in July this year. Bill Scurr, the association’s newly appointed Executive Director, opened the meeting with a reminder that the association’s purpose was “to provide a platform for Sassda members to collectively promote the sustainable growth and development of the industry, with the main emphasis on stainless steel converted within the South African economy”.
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| European stainless steel mills remain stainless alloy surcharge flat for July
It is reported that the three major stainless steel mills in Europe including ThyssenKrupp, Outokumpu and Acerinox have decided to remain the alloy surcharge for stainless steel prices flat for July 2012, in spite of falling nickel prices. |
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JUNE 2012
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| SA steel output down 21% in May, global production up slightly
South Africa’s steel production declined by 21.5% year-on-year in May, statistics released by the World Steel Association (worldsteel) showed on Wednesday.
South African output fell to 580 000 t, from 739 000 t in May 2011.
Steel production for the 62 countries reporting to worldsteel was 131-million tons last month, an increase of 0.7% compared with May 2011.
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Brussels, 12 June 2012. The International Stainless Steel Forum (ISSF) has released preliminary data which shows that stainless steel production shrank by 2.8% in the first three months of 2012. Total production was 8.6 million metric tonnes (Mt) for the quarter, down from 8.8 Mt in the corresponding period of 2011. All areas showed a decrease in production in the year-on-year comparison.
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| IDC sees room for more steel capacity in SA
Despite barriers to entry, the Industrial Development Corporation (IDC) believed that there was still room for additional steel production capacity in South African and that the focus should be on developing low-cost steel production methods and technologies.
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Spanish stainless steel producer Acerinox will continue with its investment in Bahru Stainless Sdn Bhd despite the financial crisis unravelling in the eurozone country.
Bahru Stainless is a subsidiary of stainless steel giant Acerinox Groupfrom Spain, which has a 67% stake, while Japan's Nisshin Steel and Metail One owns 30% and 3% respectively. Bahru Stainless is Acerinox's fourth largest investment. It has altogether four plants located on four continents. __________________________________________________________ |
MAY 2012
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| Q1 stainless steel production down 2.8%
Despite weaker first-quarter stainless steel production, the International Stainless Steel Forum (ISSF) said on Thursday it was still forecasting a slight improvement in 2012 output.
Global stainless steel production declined by 2.8% year-on-year to 8.6-million tons in the first three months of 2012, with all areas showing a decline.
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SA and global steel growth still sluggish
South Africa’s apparent steel use remained much the same in 2011, at 5.3-million tons of finished steel products, slightly up from 5-million tons the previous year ,World Steel Association reported.
The association’s ‘World Steel in Figures 2012’ report that was released on Friday, revealed that South African steel use a person was 108.4 kg in the year, compared with 101.2 kg a person in the previous year. |
ISSF new office bearers elected during ISSF-16 in Beijing
The International Stainless Steel Forum has elected new office bearers during the organization’s 16th Annual Conference (ISSF-16) which was held at Beijing in China on 16-17 May.
Mr Joon Sik Kim Senior Executive Vice President and Head of the Stainless Steel Business Division of POSCO has been elected Chairman of ISSF for a one year term. |
Global steel consumption growth to slow in 2012
The World Steel Association (worldsteel) is forecasting global steel consumption growth to slow to 3.6% in 2012, from 5.6% in 2011, as China enters a less steel-intensive growth phase and eurozone debt crisis uncertainties continue to persist.
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| Ferrochrome producers see tough times ahead
Caught between rising input cost and poor demand, ferrochrome manufacturers fear difficult times ahead till at least the end of the second quarter of this financial year.
Many producers, who have either compressed output or are busy negotiating prices, expect prices of the alloy to recover from October onwards, in line with projections for the global economic situation.
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APRIL 2012
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| Sassda appoints new executive director
The Southern Africa Stainless Steel Development Association (Sassda) appointed Bill Scurr as its new executive director, effective April 2012.
Scurr, a metallurgist by training, has a technical and commercial background in the industry and has been involved in general management for the past couple of years.
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| Fabrinox awarded SAIW ISO 3834 accreditation
Sheet metal component manufacturer Fabrinox has become the fortieth South African company to be awarded the Southern African Institute of Welding (SAIW) ISO 3834 accreditation.
The certification, which is concerned with the fusion welding of metallic materials, was presented to Fabrinox MD André Visser by SAIW executive chairperson Jim Guild in Cape Town, on Wednesday.
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| South Africa to impose tax on ferrochrome imports from China
There was a time when Merafe Resources, its partner Xstrata Alloys and other ferrochrome producers imported large amounts of metallurgical coke coal from China. This was because South Africa mostly has thermal coal that cannot be used to produce coke.
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| Sassda Launches Prestigious Stainless Steel Awards for 2012
The Southern Africa Stainless Steel Development Association (Sassda) has launched its prestigious Stainless Steel Awards for 2012. “We are proud to be hosting the awards again this year,” says Sassda’s new executive director, Bill Scurr. The revival of the awards, which were last held in 2008, signifies Sassda’s commitment to the industry and desire to celebrate achievements and excellence.
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| Chromium market to see expansion in coming years
Market Watch reported that a chromium market review published by Merchant Research & Consulting Limited states that the chromium market is likely to expand in coming years.
The metallurgical and aerospace industries, and industrial gas turbines manufacture are all contributing to the chromium demand growth at large extent. The application of chromium in the stainless steel production is growing YoY.
The largest chromium reserves belong to Kazakhstan, according to approximate estimations, around 50%, however the major producer of the material is South Africa which supplies more than 40% of the material on the global market.
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MARCH 2012
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From a stainless steel grade point of view, the Chromium-nickel based stainless steel 300 series was the most popular, accounting for 58.2% of total stainless steel production, according to preliminary estimates. The next most popular was the 400 Series Chromium-based stainless steel accounting for 28% of total production while 200 series Chromium-manganese steel accounted for 13.8% of total production. ___________________________________________________________
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| Eskom launches welding school as Gigaba commits SoEs to training
State-owned power utility Eskom on Thursday launched the Welding School of Excellence, its latest addition to the Eskom Academy of Learning (EAL).
The Midrand-based welding school, which falls under the EAL’s Artisan, Operating and Maintenance Centre of Excellence, would train over 700 potential welders in the next seven years at a cost of R357-million. The school currently had an enrolment of 150 learners, half of which were women.
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Stainless steel output hit record high in 2011
Global stainless steel production rose 3.3% to a new record in 2011 as higher output from China more than offset lower output from the Americas and the rest of Asia, data from the International Stainless Steel Forum showed Wednesday.
Global stainless steel production reached 32.1 million metric tons in 2011, compared with 31.1 million tons in 2010. China, the world's largest stainless steel producer, increased output of the corrosion resistant steel product by 11.9% to 12.6 million tons in 2011.
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Raw Ore export - smashing ferrochrome - Merafe
The unbridled export of raw chromite ore from South Africa is threatening to smash South Africa’s mature chrome value chain which provides 200 000 jobs and contributes R42-billion a year to South Africa’s gross domestic product.
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The board of directors of Outokumpu, a Finland-based stainless steel manufacturer, has approved the purchase of Inoxum, ThyssenKrupp AG’s stainless steel group. Outokumpu says the combination of the two companies will control about 14 percent of the annual stainless steel cold rolling capacity, about 3.5 million tons
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| Acerinox update on stainless steel market in 2011
In 2011, world production of stainless steel, a figure of 32 million tonnes, rose by 2.9%, thus consolidating the 26% increase obtained in 2010. Stainless steel is the only material among metals and industrial alloys that has registered an annual growth rate close to 6% for the last 62 years.
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| Nickel surplus may constrain stainless steel price
UK based MEPS said that the global stainless steel market is exhibiting the positive signs that are customary at this time of year. Demand on the mills is strong, boosted by inventory replenishment and buyers purchasing forward in anticipation of rising transaction prices. Producers are able to lift basis values as their order books are full for the next couple of months. The alloy adjustment element of prices in most countries will climb, at least until March 2012, as a result of LME nickel figures, which were on an upward trend until February 8th 2012.
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Outokumpu have announced a base price increase for stainless steel from the 1st April 2012. The announcement which came in the form of a letter to key customers is available here
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FEBRUARY 2012
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| Afrox to focus on operational prudence, African expansion
LSE- and JSE-listed African Oxygen (Afrox) on Friday said it would place increased emphasis on operational prudence across all levels of the business and ‘laser focus’ on people, plants, customers and safety to achieve its turnaround strategy during the 2012 financial year.
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Air Liquide to build R400m SA plant after securing Evraz Highveld deal
Industrial gases group Air Liquide reported on Monday that it would invest some R400-million in a new 770 t/d air separation unit (ASU) in South Africa after concluding a 20-year oxygen supply contract with JSE-listed steel and vanadium producer Evraz Highveld.
Evraz Highveld signed the deal after terminating a supply agreement with JSE-listed industrial gases and welding products supplier Afrox, following earlier gas supply disruptions that had affect production at the Emalahleni steel plant.
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JANUARY 2012
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Outokumpu Board of Directors has today approved the proposed combination of Outokumpu with Inoxum, the stainless steel unit of ThyssenKrupp. Transformational deal structured to unlock significant value through a step-change in the combined entity's operational efficiency. The combination is structured to create significant annual cost synergies of EUR225-250 million on an annual basis by 2017, at the latest, of which 45% are expected to be achieved by end of 2014 and 70% by end of 2015
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Merafe says FY profit to fall
South African ferrochrome producer Merafe Resources is set to report lower profit when it publishes its 2011 financial results on March 6.
The company, which operates in a joint venture (JV) with Xstrata, said on Wednesday its headline earnings a share would be between 6c and 7c for the year ended December 31, compared with 11c in the comparative period.
Basic earnings a share would be between 5c and 6c, down from 11c in 2010.
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Acerinox wins prize to trajectory of Internationalization of the Spanish Company
Acerinox has been awarded the prize to the trajectory of internationalization of the Spanish company which gives the Circulo de Empresarios, chaired by Mr Claudio Boada.
His Royal Highness, Prince of Asturias Mr Felipe de Borbon presented the prize to Acerinox chairman, Mr Rafael Naranjo.
The ceremony took place in the presentation of 2011 year book by the Circulo de Empresarios and Wharton School, on the Spanish Enterprise Internationalization, which gathers the main business operations of the Spanish Companies abroad, according to the survey carried out among the Circulo members.
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World stainless steel output up three percent in Q3 2011
According to the preliminary figures released by the International Stainless Steel Forum (ISSF), global stainless crude steel production increased in the third quarter of 2011 by 3.1 percent year on year to 7.73 million metric tons, reaching a new all-time high for a third quarter. All major regions showed production increases in the third quarter of 2011 compared to the year-ago quarter, except western Europe and Africa.
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| ISSF launches 100 Years of Stainless Steel website to celebrate a century of innovation
ISSF has published a media release titled International Stainless Steel Forum aunches 100 Years of Stainless Steel website to celebrate a century of innovation.
The global stainless steel community marking a century since stainless steels were first created, patented and produced. Over that time, stainless steel has grown to be an integral part of our modern world. To celebrate the anniversaries, the International Stainless Steel Forum has launched this website www.stainlesssteelcentenary.info dedicated to the history of stainless steel and its innovative applications.
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EU average alloy surcharge for CR stainless sheets remain flat for January 2012
It is reported that the major stainless steel producers have remained alloy surcharge unchanged for 304 grade cold rolled stainless steel sheet with thickness of 2mm for January 2012.
The average alloy surcharge for CR stainless steel sheets in the European stainless steel mills including Acerinox, Aperam, Outokumpu and ThyssenKrupp remained flat at EUR 1,339 per tonne for January 2012. |
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DECEMBER 2011
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First coil rolls off Acerinox’s plant in Johor
KUALA LUMPUR: Spanish stainless steel producer Acerinox has commissioned the phase one of its joint venture Bahru Stainless factory in Johor early this month, with a total production capacity of 240,000 tonnes a year.
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3M Co has signed a five-year commercial pact with a relatively new stainless steel and aluminum distributor to create a stable of so-called disruptive products, including technology that could eliminate the need for paint on automobiles.
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| South African ferrochrome producers to polarize - TEX Report
Sustainability of world stainless steel production is undoubtedly based on stable supplies of ferrochrome of the South African producers. However, the ability of the producers to supply sufficient ferrochrome is questioned these days due to the restrictive factors for them to stably continue profitable operations.
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| Afrox appoints new MD
Industrial gases, welding and safety products group Afrox has appointed Brett Kimber as MD.
Kimber, who is currently the CEO of Linde Korea, would take over as CEO from January 1.
His appointment follows the resignation of MD and CEO Tjaart Kruger in June after a four-year tenure.
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| SA mining production falls 12.7%
South Africa’s mining production contracted sharply in October, falling by 12.7% year-on-year, data released by Statistics South Africa (Stats SA) showed on Thursday.
The decline comes on top of a revised 3.9% contraction in September, which the Nedbank Economic Unit said suggested that the impact of weaker global growth was filtering through to the domestic economy. |
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NOVEMBER 2011
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High costs, low prices hit ferrochrome
South African ferrochrome makers are being squeezed by rising production costs, and some are already selling at a loss, the chief executive of Hernic Ferrochrome, a unit of Japan's Mitsubishi Corporation, told Reuters on Tuesday.
Prices of ferrochrome – a key ingredient for making stainless steel – have fallen in the past few months as stainless steel producers have been struggling with lower demand, weakened by a gloomier economic picture.
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| Q4 benchmark prices of S African charge chrome for Europe and Japan rolled over
TEX reported that the Q4 benchmark prices of South African charge chrome for Europe and Japan have both rolled over. Xstrata, one of the major South African producers, tried to gain USD 5 per pound in weeks long negotiations, but failed to persuade the consumers. It cannot be denied that the sudden and sharp depreciation of the resource-based currencies, such as South African Rand, in September was an indirect reason for the settlement.
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| Columbus Stainless sees SA stainless steel demand rebounding
It is reported that stainless steel supplier Columbus Stainless expects the total South African domestic market for stainless steel flat product to reach around 150000 tonnes in 2011.
The company will supply about 80% to 85% of the total, with the balance to come from imports. Almost half of this flat product is converted into fabricated products for export in the automotive, tank and engineering industries. Columbus states that while this might sound positive, it shows that there has been no growth in manufacturing in the general domestic market and, as a result, no growth in employment in this sector.
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OCTOBER 2011
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| Acerinox says stainless market recovery delayed
Reuters reported that Spain's Acerinox, which produces more than 10% of the world's stainless steel, said that a forecasted market recovery has not occurred and is not expected until the first quarter of 2012.
Acerinox had expected that the third quarter would be the weakest of the year and was betting on a recovery in the fourth quarter. But the company signaled that the fourth quarter would continue difficult.
It said that "The strength and competitiveness of the group will finish the year with a good global result, although the market recovery expected for the fourth quarter will be delayed due to the troubled euro zone."
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International Ferro Metals Ltd., a ferrochrome producer in South Africa, said fiscal first-quarter output slumped 26 percent from the previous three months after the temporary closing of a furnace in the period.
The furnace, at the Buffelsfontein plant 100 kilometers (62 miles) northwest of Johannesburg, returned to full production after the scheduled stoppage for roof upgrades, it said today in a statement. Output slid to 31,637 metric tons in the period.
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| Power supply security to hinge on growth outlook as Eskom warns of Medupi delay
The head of State-owned power utility Eskom finally acknowledged on Tuesday that the first unit of the 4 800 MW Medupi power station, which is being developed at a cost of some R125-billion in the Limpopo province, might not be introduced by the end of 2012 as currently scheduled.
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| Jindal Steel to build 2 640 MW plant in Mozambique
Mozambique gave the green light on Tuesday to India's Jindal Steel & Power to build a 2 640 MW coal-fired power plant in the northern province of Tete, home to some of the world's largest untapped coal reserves.
The energy ministry said the plant, estimated to cost $3-billion, would start operating in 2015. The power will be sold domestically and to the rest of southern Africa.
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PLANS to shift the construction of a ferrochrome smelter from Rustenburg to China was a blow not only to local beneficiation but also to jobs and economic growth, minerals company Tharisa, industry players and analysts said on Friday.
Tharisa said the reason for the change was that Eskom could not provide the plant with sufficient power until 2018.
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| Acerinox to reorganize industrial business in Spain
Acerinox SA shareholders have approved, by wide majority, in the shareholders meeting summoned to this effect, the reorganization of Acerinox Group through the incorporation of a new society, Acerinox Europa, which will include the activity of stainless steel manufacturing from Campo de Gibraltar Factory and the service centers located in Spain.
After this reorganization, Acerinox SA will have the management and coordination of the different Group activities, apart from holding Acerinox Europa shares and those from the rest of Group companies located in the five continents, which has placed the Group as a world leader in the sector.
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Half-year stainless steel output reaches all-time high
Global stainless steel production increased to an all-time high of 16.4-million tons in the first six months of the year, the International Stainless Steel Forum (ISSF) reported on Friday.
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SEPTEMBER 2011
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| KZN trade delegation visits Angola
A trade delegation from KwaZulu-Natal will visit Angola this week to explore new trade opportunities and develop key business linkages, provincial trade and investment promotion agency Trade & Investment KwaZulu-Natal (TIKZN) said on Monday.
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| NUM wants restrictions on chrome exports to China
South Africa’s National Union of Mineworkers (NUM) on Friday called for “urgent” restrictions on chrome exports, particularly to China.
The union’s national executive committee said in a statement that China was stockpiling chrome, mainly sourced from South Africa, to dictate future market prices. “This, the NUM believes is tantamount to colonisation of a special type.”
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| Indonesian coal export ban could benefit SA producers
A ban on the export of lower-quality coal in Indonesia, the world’s top thermal coal exporter, could open a window of opportunity for South African producers.
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AUGUST 2011
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India and South Africa could soon decide to ban chrome ore exports to China.
According to Albanian Minerals president and CEO Mr Sahit Muja, China has been importing raw chromite ore from South Africa, Zimbabwe, Turkey, Albania and India at very low prices and using it to produce ferrochrome.
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TIKZN SIGNS MOU TO GROW FOREIGN DIRECT INVESTMENT THROUGH STAINLESS STEEL SECTOR
Trade & Investment KwaZulu-Natal (TIKZN) will be signing a Memorandum of Understanding (MOU) with Southern Africa Stainless Steel Development Association (SASSDA) on 16 August 2011 at the TIKZN offices.
In keeping with its mandate, Trade & Investment KwaZulu-Natal will not only aim to promote foreign direct investment into the province and assist local companies to access international markets but also aims to promote and highlight in particular, the growth of the stainless steel sector in KwaZulu-Natal.
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Resources, a partner in SA’s largest ferrochrome venture, warned yesterday of the disastrous consequences of SA’s proposed carbon tax on energy-intensive companies such as itself.
SA is the world’s largest supplier of ferrochrome, a key ingredient in the manufacture of stainless steel. Yet the potential carbon tax, which is mooted by the government and which the Treasury intends finalising as policy by mid-2012, could add 10% to costs, discouraging investment in the sector. This could put a cap on growth and result in SA missing out on further job creation.
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| Rising costs put SA ferrochrome producers under pressure – Merafe
JSE-listed Merafe Resources said on Tuesday that rising costs were making it increasingly difficult for South African ferrochrome producers to stay competitive.
CEO Stuart Elliot told Mining Weekly Online at the company’s results presentation in Johannesburg, that the South African mining industry was being pressured from “all sides”. Labour has been demanding wage increases above inflation for the past five years, while electricity prices also grew by 75% over the past three years.
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JULY 2011
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| Shutdowns and supply problems to lift nickel price in 2011
According to a Reuter's poll, refinery shutdowns and supply disruptions will lift the price of stainless steel material nickel by more than previously expected in 2011, but the ramp up of new mines and restart of others will boost supply and cap prices in 2012.
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Global ferrochrome prices may recover beginning in September
Reuters reported that ferrochrome prices are expected to recover beginning in September 2011 from a decline in the third quarter as high energy costs lead to a reduction in supply and as stainless steel users start restocking material.
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The Steel and Engineering Industries Federation of South Africa (Seifsa) signed a three-year wage agreement with six trade unions on Monday, but said that the National Employers Association of South Africa (Neasa) did not endorse the settlement agreement.
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Ferrochrome - Export duties would stifle investment
Investment in ferrochrome manufacturing could be stifled if government bows to pressure to impose duties on exports of raw chrome ore, industry sources warn.
This thinking can’t be considered in isolation: the loss of margin that would come with the introduction of export duties would add to the pressure on an industry faced with rising costs, as well as difficulties in securing capital and electrical power.
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| Seifsa ‘cautiously optimistic’ about wage negotiations
The Steel Engineering Industries Federation of South Africa (Seifsa) remained “cautiously |
