ArcelorMittal

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ArcelorMittal Italia extends layoffs for three months
ArcelorMittal Italia has told unions and Italian authorities it will extend temporary layoffs for a further 13 weeks starting from 3 August, after already extending the layoffs in July, we learned from sources close to the company.
The company explained to unions that the dramatic fall in orders and deliveries seen in recent months has persisted due to the Covid-19 crisis. This makes it necessary to continue reduced production, particularly at the Taranto steelworks. Most units of the Taranto mill are involved in the layoffs, which affect up to 8,150 employees. The former Ilva steelworks employs 10,700 workers in total.
Ordinary layoff schemes have overlapped with the new Covid-19 layoffs the government has made available for companies to use in response to the economic crisis.
ArcelorMittal Italia declined to comment.





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ArcelorMittal plans to restart Dunkirk blast furnace
ArcelorMittal is expected to restart during August one of the two temporary idled blast furnaces at its site in Dunkirk, northern France, a spokesperson from the company confirms.
The spokesperson, however, declined to provide further details. ArcelorMittal temporarily idled two of Dunkirk’s three blast furnaces during March and April amid the slump in demand caused by the coronavirus emergency.
BF no.3 is expected to restart producing in August. While this indicates the market is gradually recovering, sources also note the decision could well impact the possible restart of ArcelorMittal’s other idled blast furnaces across Europe.
French trade unions welcomed the planned restart of the blast furnace and explained this is understood to be linked to a slight recovery of demand and some orders for the export markets. Another factor that played a role is the planned temporary idling of one ArcelorMittal blast furnace in Ghent, Belgium, from the beginning of September.
The hot strip mill at Dunkirk will see its planned stoppages reduced during the summer due to the partial recovery in demand
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Goldman Sachs herhaalt het “Buy”-advies voor ArcelorMittal met een koersdoel van 14 euro, dat 37% opwaarts potentieel biedt.
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Re: ArcelorMittal

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charel01 schreef:
15 jul 2020 09:07
Goldman Sachs herhaalt het “Buy”-advies voor ArcelorMittal met een koersdoel van 14 euro, dat 37% opwaarts potentieel biedt.
Goldman Sachs heeft ArcelorMittal woensdag op de kooplijst gezet met een koersdoel van 14,00 euro.

De analisten van Goldman verwachten dat de wereldwijde vraag naar staal zal herstellen. En dat zal goed uitpakken voor de staalprijs en de marges.

De neerwaartse cyclus in de staalsector is volgens Goldman dan ook op zijn dieptepunt.

De analisten voorzien dat de EBITDA van ArcelorMittal in 2022 verdubbeld is naar ongeveer 7 miljard dollar. Goldman Sachs zit 5 procent boven de consensus, maar meent toch aan de voorzichtige kant te zijn.

Tot slot beschikt de staalreus volgens de zakenbank over een gezonde balans.

Door: ABM Financial News.
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Beetje algemene info ...

Market weakness seen main metals and mining risk
Global market weakness will by far be the key risk for the mining and metals industry in the third and fourth quarters, according to a poll of 67 participants in the sector conducted by law firm White & Case.
A notable 39% of respondents said the factor was the most important, followed by 16% for supply chain disruptions and 14% for commodity prices.
The main priority for the mining sector post Covid-19 will be building resilience said 27% of those polled, followed by productivity gains and efficiencies each with 18%.
Of the respondents, 18% said exposure to the battery minerals supply chain is likely to lure non-specialist institutional investors to the sector. 14% each, meanwhile, said it would be shareholder returns and Environmental, Social, and Governance (ESG) performance.
As for the impact of trade tensions, 30% said these would see a slowdown in actual commodity demand, 25% speculative pressure on commodity prices and 23% localised but material impacts on particular commodities.
On how resource nationalism is most likely to manifest itself in the wake of Covid-19, 46% of respondents said increased taxation, and 16% each in-country beneficiation and contract renegotiation.
33% believe opportunistic asset-driven deals will represent the most likely mergers and acquisition activity, with the same proportion saying it will be distressed M&A. Only 12% said it would be major industry consolidation involving the large players. Iron ore was the commodity likely to recover third quickest post Covid-19 with 10% of respondents, behind copper with 39% and gold with 33%.
“Iron ore has… risen sharply in the face of returning Chinese demand for steel, touching $100/tonne in June,” White & Case says in a report sent to Kallanish. “This flies in the face of the concerns earlier in the year, when waning Chinese steel demand during the Chinese peak of Covid-19 initially led to concerns of a surplus of ore, prompting consensus forecasts that pointed to prices slipping for the year.

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ArcelorMittal investigates Indiana mill fire
ArcelorMittal is still investigating the cause of a 16 July fire and stove dome failure at its Burns Harbor, Indiana, facility.
On the morning of 16 July, a stove dome failure apparently sparked a fire at Blast Furnace D, forcing the company to take the furnace offline. No injuries were reported as a result of the fire.
“The cause of the incident remains under investigation,” the spokesman says. “We are creating a timeline for repairs, and the company does not anticipate any impact on our ability to meet customer demand.
Burns Harbor has an annual capacity of about 5 million short tons/year.
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ArcelorMittal Bremen cooperates with utilities for hydrogen
ArcelorMittal Bremen has signed an agreement with northern German energy company EWE and its subsidiary swb (Stadtwerke Bremen) for the production of green hydrogen at the mill.
In the first stage, an electrolysis plant with a capacity of up to 24 megawatts is projected to be built at a local power plant, which will then supply ArcelorMittal's steelworks with green hydrogen. The project goes by the slogan “HyBit - Hydrogen for Bremen’s Industrial transformation.”
AM Bremen already formed a joint venture with swb in 2017, INGAVER, to handle the energy processes at the mill, which include the management of gas, compressed air, water and wastewater.
“The use of green hydrogen plays an important role in the group's strategy, helping to reduce the use of carbon in the pig iron production process,” says Dirk Francis, technical director of the plant. “For our Bremen site, the construction of the electrolysis plant is a milestone on the way to achieving this goal.”
The new cooperation is in line with the ambitions for cleaner steel production at other ArcelorMittal mills in Europe, for example in nearby Hamburg. Francis also admonishes that hydrogen-based energy is still far too expensive to be viable.
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BRUSSEL (AFN) - De wereldwijde staalproductie lag in juni nog altijd duidelijk lager dan een jaar eerder. Dat meldt de World Steel Association die wijst op productieproblemen door de coronauitbraak in veel landen.

In totaal werd er vorige maand 148,3 megaton staal geproduceerd. Dat is 7 procent minder dan in dezelfde maand vorig jaar. De productie van China, met afstand de grootste staalmaker ter wereld, lag 4,5 procent hoger dan vorig jaar. India, waar het coronavirus nog totaal niet onder controle is, zag de productie met ruim een kwart dalen en in Japan werd ruim een derde minder staal gemaakt.

Over de eerste zes maanden lag de mondiale productie met 873,1 megaton 6 procent lager dan de eerste helft van 2019. In Azië daalde de productie met 3 procent, in Europa met 18,2 procent en in Noord-Amerika met 17,6 procent.
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ArcelorMittal issues second-quarter analyst Ebitda consensus figures
ArcelorMittal has announced the publication of sell-side analysts’ Ebitda consensus figures for the company for the second quarter of 2020.
The analysts expect Ebitda of $482 million versus estimated Ebitda for Q2 2019 of $1,529 million and actual recorded Ebitda of $1,555 million. A total of 19 sell-side analysts participated in the current exercise. The consensus figures are based on analysts’ estimates recorded on an external web-based tool, and is managed by Vuma Financial Services Limited, the steelmaker says. To arrive at the consensus figures below, Vuma Consensus has aggregated the expectations of sell-side analysts who, to the best of the company’s knowledge, cover ArcelorMittal on a continuous basis. This is currently a group of about 20 brokers.
The listed analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates, the steelmaker confirms.

** Extra info ** Italian re-roller Marcegaglia is to increase plate prices by €30/tonne ($34/t)
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ArcelorMittal Tubarão coke battery advances
Thyssenkrupp Steel Americas says that it is advancing in the building of the fourth coke battery at the ArcelorMittal Tubarão complex located in Espírito Santo State in Brazil, we learn from the German engineering supplier.
The project involves the company`s engineering, procurement and construction turnkey solution and is one of the largest works of thyssenkrupp for industrial plants in Brazil.
“We have completed 50% of the building of the coke battery in 22 months. This was possible thanks to the civil engineering technologies used in the work that allows reducing the execution time by up to 20%, obeying high levels of quality and safety,” thyssenkrupp says.
The new battery will consist of 49 ovens, with a production capacity of 600,000 tonnes of coke per year and will be added to the other three original batteries from the coke oven that were also designed by thyssenkrupp in the 1980s.
“The construction uses prefabricated concrete elements that speed up field assembly, as they require up to 20% less labour compared to traditional methods. Another process to increase productivity was the use of the so-called Pinion Walls, a sliding formwork for the construction of two longitudinal locking walls. This technology enables continuous pouring in an uninterrupted work regime,” the German engineering company adds.



** Extra info ***
Turkish domestic HRC price rises again
Despite relative calm in the Turkish domestic hot-rolled coil market the week before last, Turkish mills have increased offers again last week as feedstocks prices continued to rise amid amplifying shortage of material.
Mills were forced to pass on sharp increases in scrap and imported slab prices, which in turn are supported by firm iron ore trend and the blossoming shortage of hot rolled coil in some key markets. The latter is the result of China's ongoing recovery of demand and nearby regions' limited supply opportunity.
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