ArcelorMittal CEO Mr LN Mittal sees a long way to go for steel plant in India

Friday, 04 Nov 2011

BS reported that ArcelorMittal said the company still has a long way to go in India before it takes a final view on the construction of the proposed steel plants.

Mr LN Mittal president & CEO of ArcelorMittal while declaring Q3 results did not sound very enthusiastic about the progress of the company in India.

In a select media call, he said “We have got mining leases & licenses, which are in different stages of progress. Some are prospecting licenses, some are exploration, but we haven't got mining operation approvals yet.”

He said the mining allocations to ArcelorMittal were done long before so there was some progress.

He told “But it's still a long way to go before we take a final view on construction.”

The company has been eyeing countries like Brazil and India for expansions and its growth drivers in newer markets. However, the market uncertainties have forced it to cut down on its planned steel investments.

All this is happening at a time when the company is yet to make any significant investments in India even after signing MoUs with state governments as early as 2005. Mr Mittal, last year, had said the company was looking to build smaller modules of steel plants in the emerging markets.

(source Business-standard)

Japan’s domestic steel product orders up slightly in January over December

Friday, 11 March 2011 12:03:52 (GMT+2)

According to the data released by the Japan Iron and Steel Association, steel product orders, including specialty steels, booked by domestic steel consuming sectors in Japan in January this year amounted to 8.06 million metric tons, increasing slightly by 0.49 percent compared to December 2010 and up 8.7 percent year on year.

In January this year, ordinary steel product orders in Japan booked by the domestic construction sector decreased by five percent month on month to 587,559 metric tons - up 8.99 percent year on year, while steel product orders booked by the Japanese automotive sector, including specialty steel, reached 1.13 million metric tons, rising by 4.93 percent as compared to December last year and down 5.72 percent year on year. Japan's shipbuilding industry booked 427,559 metric tons of ordinary steel products in January, declining by 8.77 percent month on month and up 1.4 percent as compared to the same month of 2010.

NLMK to build pelletizing plant at Stoilensky

Saturday, 19 Feb 2011

NLMK has approved the construction of a pelletizing plant at Stoilensky, its fully owned subsidiary with a capacity of 6 million tonnes of iron ore pellets per year.

The project will encompass the construction of the pelletizing plant and the development of a number of infrastructure facilities to supply raw materials for the production of high grade pellets. A 30% increase in iron ore output as compared to 2011 level at Stoilensky operating mine is planned to ensure the required raw material supplies for the pelletizing plant.

The project is part of the Group’s strategy targeted at strengthening vertical integration and is being executed as part of the third stage of NLMK Technical Upgrade Program. Construction is expected to be completed in 2014. The plant will be able to fully cover the Company pellet requirements as early as 2015, even considering the launch of the 3.4 million tonne Blast Furnace 7 at Novolipetsk, the main production facility of the Group located in Lipetsk.

The project will be jointly executed with Siemens VAI/Outotec, a German-Finnish consortium, responsible for supplying the required equipment and technologies, as well as rendering other construction-related services.

Investments into Stoilensky operating and infrastructure facilities over 2011 to 2014 will total some RUB 39 billion.

Starting from 2015, Stoilensky average annual output of saleable iron ore will be as follows:
1. Sintering ore - 2 million tonnes
2. Iron ore concentrate - 11 million tonnes
3. Iron ore pellets - 6 million tonnes
Ensuring NLMK 100% self sufficiency in iron ore raw materials.

During the Stoilensky pellet plant construction, supplies of iron ore pellets to Novolipetsk will be made under long term contracts between NLMK and Metalloinvest Holding.

Tags:Siemens VAI, Outotec,investment, iron ore concentrate, long term agreement, Metalloinvest Holding,

Construction spending in US falls to 10-year low

Wednesday, 02 February 2011 02:53:27 (GMT+2)

According to figures released Tuesday by the US Census Bureau of the Department of Commerce, construction spending in December 2010 totaled about $787.9 billion, 2.5 percent (±1.3 percent) below the November total of $807.8 billion. Compared to a year ago, spending fell 6.4 percent (±1.6 percent) from the December 2009 total of $841.8 billion. The total value of construction in 2010 was $814.2 billion, a 10.3 percent (±1.0 percent) decrease from the $907.8 billion spent in 2009.
Spending on private construction was $486.9 billion in December, 2.2 percent below the November estimate of $498 billion. Within the private construction sector, residential construction fell 4.1 percent in December, while non-residential construction spending declined 0.5 from November to December. In 2010, the value of private construction was $507.3 billion, 14.3 percent below the $592.3 billion spent in 2009.
Spending on private construction was $301 billion in December, 2.8 percent (±1.8 percent) below the revised November estimate of $309.8 billion. In 2010, the value of public construction totaled $306.8 billion, a 2.7 percent (±1.4 percent) decline from the $315.5 billion spent in 2009.
Tags :USA , North America, construction ( souced:steelorbis)