Nov 09

Stahlmarkt Consult questions steel shortage

As delivery times for coil keep stretching, and mills appear to be extremely well-utilised, consultant Andreas Schneider addresses how this corresponds with sluggish steel demand. German consumption this full year is estimated to be barely 30 million tonnes, which is the lowest in 11 years. Supply and demand have been out of sync for
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Nov 06

Deutsche Bank, steel plantmaker Primetals link ESG, currency hedging

Financial institution Deutsche Bank and steel equipment manufacturer Primetals Technologies have established a framework linking ESG and currency risk hedging, Germany-based Primetals said Nov. 5. The framework agreement enables Primetals to hedge its currency risk with forex options over a period of four years, linking them to sustainability targets. Measuring the success of our
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Nov 06

Final closing for Ilva purchase scheduled for 2022

The final closing by ArcelorMittal of the lease and purchase agreement for the steelmaker formerly known as Ilva is now scheduled by May 2022, subject to various conditions, ArcelorMittal says in a note seen byKallanish. On 4 March ArcelorMittal announced that AM InvestCo and the Ilva Commissioners had signed an amendment agreement to the
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Nov 06

EU demand remains below pre-crisis levels: ArcelorMittal

ArcelorMittals production, shipments and sales recovered in Europe during the third quarter, but did not return to pre-Covid-19 crisis levels. In June-September crude steel production was up almost 12% on-quarter to 7.9 million tonnes, but it still remained some -25% below Q3 2019. Steel shipments also recovered strongly, but remained down -15% on-year,Kallanishnotes. Demand
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Nov 06

ArcelorMittal shipments remain depressed, eyes further structural …

ArcelorMittal says it is developing options for further structural cost improvements to prepare for the post-Covid-19 operating environment. This follows the closure in October of the Krakow plants hot-end. Further details will be provided with the full-year 2020 results in February. Steel shipments fell -13% on-year in the third quarter to 17.5 million tonnes,
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