Sunday, 29 Jan 2012
According to a report released by the German Federal Statistical Office in December 2011 the import price of iron ore increased by 14.6% YoY in Germany, while it decreased by two percent as compared to November.
In December, the average import price of pig iron, steel and ferroalloys in Germany fell by 2.8% YoY while it decreased by 0.2% compared to November.In 2011, the index of import prices for iron ore was up 34.6% over the previous year's average level, while the import price index for iron and steel and ferroalloys increased 8.8% in 2011 compared to 2010.
(sourced SteelOrbis.com)
Showing posts with label Germany's steelmakers. Show all posts
Showing posts with label Germany's steelmakers. Show all posts
Sunday, January 29, 2012
Friday, January 27, 2012
Thyssen to decide on stainless next week - sources
Fri Jan 27, 2012
* ThyssenKrupp board to meet on Tuesday - source
* ThyssenKrupp aims to divest majority stake - source
* Shares fall 1 percent (Adds second source, background, share price)
DUESSELDORF, Germany/FRANKFURT, Jan 27 (Reuters) - German steelmaker ThyssenKrupp's supervisory board is to decide on a possible sale of its stainless steel unit to Finnish group Outokumpu in an extraordinary meeting next week, two people familiar with the negotiations said.
One of the people told Reuters on Friday the meeting was due to take place on Tuesday, the day before Outokumpu publishes full-year 2011 financial results.
"Negotiations with Outokumpu and labour representatives are ongoing," a spokesman for ThyssenKrupp said, adding an agreement with the labour side was needed before any supervisory board meeting could take place.
Hannu Hautala, Executive Vice President - General Stainless of Outokumpu, said: "We are currently in the process of examining the situation and the schedule is still wide open, so I can't give any comment."
ThyssenKrupp shares were down 1 percent at 21.92 euros by 0854 GMT, underperforming the German blue-chip index, which was down 0.2 percent.
ThyssenKrupp and Outokumpu said this week they were in early talks over a stainless steel tie-up, moving towards the long-awaited consolidation of a sector that has struggled to battle overcapacity and cheap Chinese imports.
ThyssenKrupp, a steelmaking conglomerate whose business stretches from submarines to lifts, is in the throes of a radical restructuring that will see it shed non-core assets with revenues of 10 billion euros ($13.2 billion) to slash debt.
The sale of all or part of Thyssen's stainless steel unit, renamed Inoxum, would mark a key step forward in the slimming down of Germany's largest steelmaker.
It would also provide a welcome piece of good news for its shareholders still reeling from cost overruns that pushed the company into the red last year.
The second source said on Friday that ThyssenKrupp aimed to divest a majority stake in Inoxum. ($1 = 0.7601 euros)
(sourced Reuters)
* ThyssenKrupp board to meet on Tuesday - source
* ThyssenKrupp aims to divest majority stake - source
* Shares fall 1 percent (Adds second source, background, share price)
DUESSELDORF, Germany/FRANKFURT, Jan 27 (Reuters) - German steelmaker ThyssenKrupp's supervisory board is to decide on a possible sale of its stainless steel unit to Finnish group Outokumpu in an extraordinary meeting next week, two people familiar with the negotiations said.
One of the people told Reuters on Friday the meeting was due to take place on Tuesday, the day before Outokumpu publishes full-year 2011 financial results.
"Negotiations with Outokumpu and labour representatives are ongoing," a spokesman for ThyssenKrupp said, adding an agreement with the labour side was needed before any supervisory board meeting could take place.
Hannu Hautala, Executive Vice President - General Stainless of Outokumpu, said: "We are currently in the process of examining the situation and the schedule is still wide open, so I can't give any comment."
ThyssenKrupp shares were down 1 percent at 21.92 euros by 0854 GMT, underperforming the German blue-chip index, which was down 0.2 percent.
ThyssenKrupp and Outokumpu said this week they were in early talks over a stainless steel tie-up, moving towards the long-awaited consolidation of a sector that has struggled to battle overcapacity and cheap Chinese imports.
ThyssenKrupp, a steelmaking conglomerate whose business stretches from submarines to lifts, is in the throes of a radical restructuring that will see it shed non-core assets with revenues of 10 billion euros ($13.2 billion) to slash debt.
The sale of all or part of Thyssen's stainless steel unit, renamed Inoxum, would mark a key step forward in the slimming down of Germany's largest steelmaker.
It would also provide a welcome piece of good news for its shareholders still reeling from cost overruns that pushed the company into the red last year.
The second source said on Friday that ThyssenKrupp aimed to divest a majority stake in Inoxum. ($1 = 0.7601 euros)
(sourced Reuters)
Friday, December 2, 2011
ThyssenKrupp calls snap news conference for Friday
Fri Dec 2, 2011
FRANKFURT/DUESSELDORF Dec 2 (Reuters) - ThyssenKrupp , Germany's largest steelmaker, called a snap news conference for 1300 GMT on Friday following a meeting of the group's supervisory board, it said.
German business daily Financial Times Deutschland reported on Friday that Steel Americas chief executive Hans Fischer would leave the company after arriving in February from domestic rival Salzgitter.
The FTD and Handelsblatt both said the board was unhappy with continued problems in the new Brazilian carbon steel slab mill, which have already cost the job of senior steel manager Karl-Ulrich Koehler.
The slab plant near Rio de Janeiro known as CSA, with an annual capacity of over 5 million metric tonnes, chose the cheaper Chinese firm Citic over ThyssenKrupp's own plant engineer to build the steelmill's three coking plant batteries -- a move that lead to mistakes in the construction, Handelsblatt said.
The coking plant, which produces coking coal used to make pig iron in the blast furnace, generates coke oven gas in the process. This byproduct is typically used to drive turbines that then fuel the steel mill.
As a result of CSA's coke plant battery problems, the energy-intensive slab production may need to buy electricity.
Citing sources at ThyssenKrupp, Handelsblatt reported Citic agreed to pay damages, but the two companies have not agreed on the amount.
(sourced Reuters)
FRANKFURT/DUESSELDORF Dec 2 (Reuters) - ThyssenKrupp , Germany's largest steelmaker, called a snap news conference for 1300 GMT on Friday following a meeting of the group's supervisory board, it said.
German business daily Financial Times Deutschland reported on Friday that Steel Americas chief executive Hans Fischer would leave the company after arriving in February from domestic rival Salzgitter.
The FTD and Handelsblatt both said the board was unhappy with continued problems in the new Brazilian carbon steel slab mill, which have already cost the job of senior steel manager Karl-Ulrich Koehler.
The slab plant near Rio de Janeiro known as CSA, with an annual capacity of over 5 million metric tonnes, chose the cheaper Chinese firm Citic over ThyssenKrupp's own plant engineer to build the steelmill's three coking plant batteries -- a move that lead to mistakes in the construction, Handelsblatt said.
The coking plant, which produces coking coal used to make pig iron in the blast furnace, generates coke oven gas in the process. This byproduct is typically used to drive turbines that then fuel the steel mill.
As a result of CSA's coke plant battery problems, the energy-intensive slab production may need to buy electricity.
Citing sources at ThyssenKrupp, Handelsblatt reported Citic agreed to pay damages, but the two companies have not agreed on the amount.
(sourced Reuters)
Wednesday, November 2, 2011
Thyssen sounds out pvt equity on stainless -sources
Wed Nov 2, 2011
FRANKFURT Nov 2 (Reuters) - Germany's biggest steelmaker ThyssenKrupp AG invited private equity buyers to a roadshow about a sale of its stainless business, two sources familiar with the matter said on Wednesday.
Among those private equity players invited were Apollo , Blackstone and KKR , one of the people said, adding talks were at a very early stage.
Apollo, Blackstone and KKR were not immediately available for comment.
ThyssenKrupp said in May it would explore a sale or floatation of its stainless steel business, Europe's market leader. It said the stainless divestment would take at least 12 to 18 months.
ThyssenKrupp's stainless division had annual revenues of around 6 billion euros ($8.2 billion).
ThyssenKrupp declined to comment on whether a roadshow had taken place and reiterated that all options are still open.
Citigroup , Deutsche Bank and Rothschild were mandated to explore options which include a spin-off, IPO or an outright sale.
(sourced Reuters)
FRANKFURT Nov 2 (Reuters) - Germany's biggest steelmaker ThyssenKrupp AG invited private equity buyers to a roadshow about a sale of its stainless business, two sources familiar with the matter said on Wednesday.
Among those private equity players invited were Apollo , Blackstone and KKR , one of the people said, adding talks were at a very early stage.
Apollo, Blackstone and KKR were not immediately available for comment.
ThyssenKrupp said in May it would explore a sale or floatation of its stainless steel business, Europe's market leader. It said the stainless divestment would take at least 12 to 18 months.
ThyssenKrupp's stainless division had annual revenues of around 6 billion euros ($8.2 billion).
ThyssenKrupp declined to comment on whether a roadshow had taken place and reiterated that all options are still open.
Citigroup , Deutsche Bank and Rothschild were mandated to explore options which include a spin-off, IPO or an outright sale.
(sourced Reuters)
Thursday, August 18, 2011
Thyssen demurs in rail bid after price probe -paper
Thu Aug 18, 2011
FRANKFURT Aug 18 (Reuters) - Germany's biggest steelmaker ThyssenKrupp held off bidding for a German railway contract after it was subject to a price-fixing probe, a German newspaper reported, citing industry sources.
German authorities said in late June they were investigating 10 steel and rail companies, including ThyssenKrupp subsidiary GfT Gleistechnik GmBH, for operating a cartel between 2001 and 2008.
Thyssen normally buys rails for Deutsche Bahn tenders from competitors such as Voestalpine and ArcelorMittal , but supplies from these companies were "no longer available", forcing Thyssen to stay out of the bidding, the sources told financial daily Handelsblatt.
Handelsblatt calculated from cartel documents in its possession that damage claims linked to the case could total up to 1 billion euros ($1.4 billion), on top of any fines imposed by regulators.
Austrian metals group Voestalpine said in July it had blown the whistle on the scheme and said it expected to escape fines in the investigation. ($1=.7099 Euro)
FRANKFURT Aug 18 (Reuters) - Germany's biggest steelmaker ThyssenKrupp held off bidding for a German railway contract after it was subject to a price-fixing probe, a German newspaper reported, citing industry sources.
German authorities said in late June they were investigating 10 steel and rail companies, including ThyssenKrupp subsidiary GfT Gleistechnik GmBH, for operating a cartel between 2001 and 2008.
Thyssen normally buys rails for Deutsche Bahn tenders from competitors such as Voestalpine and ArcelorMittal , but supplies from these companies were "no longer available", forcing Thyssen to stay out of the bidding, the sources told financial daily Handelsblatt.
Handelsblatt calculated from cartel documents in its possession that damage claims linked to the case could total up to 1 billion euros ($1.4 billion), on top of any fines imposed by regulators.
Austrian metals group Voestalpine said in July it had blown the whistle on the scheme and said it expected to escape fines in the investigation. ($1=.7099 Euro)
Monday, July 25, 2011
ThyssenKrupp to invest in Rotterdam coal terminal capacity expansion
Monday, 25 July 2011
German steelmaker ThyssenKrupp AG intends to invest more than €20 million to expand the handling capacity at the import terminal of Rotterdam port, in order to increase its coal imports.
ThyssenKrupp handles 90 percent of its raw material at the second-biggest terminal of Rotterdam port.
ThyssenKrupp seeks to import more coal as coal production in Germany is predicted to decrease gradually in the coming years. The expansion will result in a 50 percent increase in storage capacity, enabling the company to handle about one third more of coking coal than before.
(By steelorbis)
German steelmaker ThyssenKrupp AG intends to invest more than €20 million to expand the handling capacity at the import terminal of Rotterdam port, in order to increase its coal imports.
ThyssenKrupp handles 90 percent of its raw material at the second-biggest terminal of Rotterdam port.
ThyssenKrupp seeks to import more coal as coal production in Germany is predicted to decrease gradually in the coming years. The expansion will result in a 50 percent increase in storage capacity, enabling the company to handle about one third more of coking coal than before.
(By steelorbis)
Tuesday, March 8, 2011
Tata Steel to install new line at German service centre
Tue,Mar08, 2011 by PTI
London, Mar 8 (PTI) Tata Steel plans to install a new line to double the slitting capacity of its service centre at Gelsenkirchen, in Germany.
Service Centre Gelsenkirchen GmbH currently operates one slitter and one cut-to-length line and the output is largely destined for the automotive industry.
The second slitting line, together with the associated expansion of the Gelsenkirchen site, will cost 8.6 million euros.
The new line will have a capacity of 140,000 tonnes per annum, almost double the site's existing slitting capacity.
The new slitter will be able to process coil in thicknesses of 0.4-4mm and widths up to 1,650mm, with a maximum yield strength of 1400N/mm2.
It is due to come onstream in early 2012.
Service Centre Gelsenkirchen General Manager Jochen Hoefges, said: "Our strategy toward the automotive sector is to increase the volume and technical innovation of the products we offer.
London, Mar 8 (PTI) Tata Steel plans to install a new line to double the slitting capacity of its service centre at Gelsenkirchen, in Germany.
Service Centre Gelsenkirchen GmbH currently operates one slitter and one cut-to-length line and the output is largely destined for the automotive industry.
The second slitting line, together with the associated expansion of the Gelsenkirchen site, will cost 8.6 million euros.
The new line will have a capacity of 140,000 tonnes per annum, almost double the site's existing slitting capacity.
The new slitter will be able to process coil in thicknesses of 0.4-4mm and widths up to 1,650mm, with a maximum yield strength of 1400N/mm2.
It is due to come onstream in early 2012.
Service Centre Gelsenkirchen General Manager Jochen Hoefges, said: "Our strategy toward the automotive sector is to increase the volume and technical innovation of the products we offer.
Monday, March 7, 2011
Salzgitter outlook muted by raw material costs
Mon Mar 7, 2011 3:38pm GMT
* 2010 pretax profit 48.9 mln euros vs 44 mln in poll
* Sees 2011 sales growth of 15-20 pct
* Sees pretax profit doubling from 2010 level
* Shares down 3.6 percent, hit lowest in over 7 weeks
(Recasts, adds background and share price)
* 2010 pretax profit 48.9 mln euros vs 44 mln in poll
* Sees 2011 sales growth of 15-20 pct
* Sees pretax profit doubling from 2010 level
* Shares down 3.6 percent, hit lowest in over 7 weeks
(Recasts, adds background and share price)
By Marilyn Gerlach
FRANKFURT, March 7 (Reuters) - Germany's No. 2 steelmaker Salzgitter AG (SZGG.DE: Quote) forecast earnings growing less than analysts had forecast this year, sending its shares down more than 3 percent to their lowest in nearly seven weeks.
Announcing a swing to pretax profit of 48.9 million euros ($68.6 million) in the past year versus an expected 44 million in a Reuters poll of banks and brokerages, the group said it saw pretax earnings more than doubling in the current year.
"The forecast of more than doubling the pretax profit was a disappointment and was weaker than expected," analyst Michael Broeker of Steubing said.
Broeker said it was also disappointing that Salzgitter's steel sections and sheet piling product segments -- which cater to the construction sector -- did not pick up last year.
Shares in the company, which has traditionally issued a conservative outlook for the year only to upgrade it in subsequent quarters, fell as much as 3.6 percent in early trade and were down 2.6 percent at 56.36 euros by 1124 GMT. Germany's midcap index was up 0.2 percent.
The stock hit a low of 56.53 euros, its lowest since late January.
ThyssenKrupp (TKAG.DE: Quote), the top steelmaker in Europe's biggest economy, has been upbeat for this year, expecting a 10 to 15 percent sales increase as orders from its home market helped it navigate global price pressures.
ArcelorMittal (ISPA.AS: Quote), the world's largest steelmaker, forecast a rebound in demand and prices at the start of 2011, signalling an end to a margin squeeze that hit the global steel industry late last year.
TUBES WEIGH
Salzgitter said its steel division -- which generates about a quarter of group sales -- will swing to a pretax profit this year from a year-earlier loss, boosted by economic recovery and a pickup in orders.
Also helping 2011 earnings, the technology business comprising mainly beverage bottling unit Kloeckner-Werke may break even this year.
But earnings growth is being limited by the tubes business, which generates about a fifth of group sales and is seen posting a decline in its result in this year.
Analysts have said contract prices for large diameter tubes used in the Nord Stream gas pipelines were fixed at lower prices at a time before spot prices of raw materials used in steelmaking soared to current levels.
Prices for coking coal, a key raw material for steel, rose by $150 last month to between $380 and $390 per tonne on a free on board (FOB) basis shipped from Australia, as devastating floods hit production from the world's top exporter.
Salzgitter said capacity utilisation at its plants was at a high level last year, particularly in the flat steel product segment, used mainly in the automotive sector, while selling prices of many products gradually recovered.
Germany's booming automotive and mechanical engineering industries have allowed steelmakers to pass on some of the high input costs to their end-clients.
According to StarMine, which weights analyst views by their track records, Salzgitter trades at around 21.2 times estimated 12-month forward earnings per share, a premium to ThyssenKrupp's 11.0 and ArcelorMittal's 12.3.
Salzgitter shares have fallen 11 percent over the past 12 months, underperforming ThyssenKrupp and the STOXX Europe 600 Industrial Goods and Services Index , which rose 22 percent and 32 percent, respectively, during the period. (Editing by David Holmes) ($1=.7131 Euro, sourced : Thomson Reuters)
FRANKFURT, March 7 (Reuters) - Germany's No. 2 steelmaker Salzgitter AG (SZGG.DE: Quote) forecast earnings growing less than analysts had forecast this year, sending its shares down more than 3 percent to their lowest in nearly seven weeks.
Announcing a swing to pretax profit of 48.9 million euros ($68.6 million) in the past year versus an expected 44 million in a Reuters poll of banks and brokerages, the group said it saw pretax earnings more than doubling in the current year.
"The forecast of more than doubling the pretax profit was a disappointment and was weaker than expected," analyst Michael Broeker of Steubing said.
Broeker said it was also disappointing that Salzgitter's steel sections and sheet piling product segments -- which cater to the construction sector -- did not pick up last year.
Shares in the company, which has traditionally issued a conservative outlook for the year only to upgrade it in subsequent quarters, fell as much as 3.6 percent in early trade and were down 2.6 percent at 56.36 euros by 1124 GMT. Germany's midcap index was up 0.2 percent.
The stock hit a low of 56.53 euros, its lowest since late January.
ThyssenKrupp (TKAG.DE: Quote), the top steelmaker in Europe's biggest economy, has been upbeat for this year, expecting a 10 to 15 percent sales increase as orders from its home market helped it navigate global price pressures.
ArcelorMittal (ISPA.AS: Quote), the world's largest steelmaker, forecast a rebound in demand and prices at the start of 2011, signalling an end to a margin squeeze that hit the global steel industry late last year.
TUBES WEIGH
Salzgitter said its steel division -- which generates about a quarter of group sales -- will swing to a pretax profit this year from a year-earlier loss, boosted by economic recovery and a pickup in orders.
Also helping 2011 earnings, the technology business comprising mainly beverage bottling unit Kloeckner-Werke may break even this year.
But earnings growth is being limited by the tubes business, which generates about a fifth of group sales and is seen posting a decline in its result in this year.
Analysts have said contract prices for large diameter tubes used in the Nord Stream gas pipelines were fixed at lower prices at a time before spot prices of raw materials used in steelmaking soared to current levels.
Prices for coking coal, a key raw material for steel, rose by $150 last month to between $380 and $390 per tonne on a free on board (FOB) basis shipped from Australia, as devastating floods hit production from the world's top exporter.
Salzgitter said capacity utilisation at its plants was at a high level last year, particularly in the flat steel product segment, used mainly in the automotive sector, while selling prices of many products gradually recovered.
Germany's booming automotive and mechanical engineering industries have allowed steelmakers to pass on some of the high input costs to their end-clients.
According to StarMine, which weights analyst views by their track records, Salzgitter trades at around 21.2 times estimated 12-month forward earnings per share, a premium to ThyssenKrupp's 11.0 and ArcelorMittal's 12.3.
Salzgitter shares have fallen 11 percent over the past 12 months, underperforming ThyssenKrupp and the STOXX Europe 600 Industrial Goods and Services Index , which rose 22 percent and 32 percent, respectively, during the period. (Editing by David Holmes) ($1=.7131 Euro, sourced : Thomson Reuters)
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