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Quote of the Month “Tariffs are a policy to protect a few at the expense of many.” John Foster, chairman, American Metals Supply Chain Institute (AMSCI)

• South Korean steelmaker POSCO is to expand steel supply for liquefied natural gas (LNG) fuel tanks in anticipation of increased demand for environmentally-friendly vessels going forward. With a demand surge for LNG expected over the next five years, the company is likely to be producing more of its 9% nickel steel and last month supplied such steel to Hyundai Samho Heavy Industries for the construction of the world’s first LNG-fuelled bulk carrier. Source: EconoTimes, 1 January 2021.

• In a move designed to strengthen its leadership position in the North American automotive marketplace, ArcelorMittal Dofasco has invested in added coating capability at its number five hot-dipped galvanising line in Hamilton, Canada. It means that the plant goes into the history books as the only Canadian producer of aluminium silicon (Alusi) coated Usibor Press Hardenable steel for the automotive sector. The number five line has an expected capacity of 160kt of Alusi-coated steel. Source: Nasdaq, 31 December 2020. • Anyang Iron and Steel Inc is expecting its net profits to fall by up to 22% year-on-year to approximately RMB200-250 million ($31-38 million). The Chinese steelmaker is laying the blame firmly at the feet of the COVID-19 pandemic, but also on the high prices of raw materials. Source: Steel Orbis, 13 January 2021.

• Soma Mondal is the new chairperson of Steel Authority of India Ltd (SAIL). Ms Mondal took over from Anil Kumar Choudary and is the first female functional director of the stateowned steelmaker. Source: ANI News, 1 January 2021. • A resurgence in cases of COVID-19 means that steelmakers in China’s Hebei Province in the north of the country are putting greater quantities of steel into inventories following transportation restrictions. The province accounts for one quarter of China’s total steel capacity. Three cities – Shijiazhuang, Xingtai and Langfang are now in lockdown. Source: Hellenic Shipping News.com • US Steel has acquired Dave Stickler's Big River Steel (BRS), the technology company that just happens to make steel. The Pittsburghbased steelmaker paid $764 million from ‘cash on hand’. The acquisition means that integrated steelmaker US Steel effectively gets ‘the best of both’ worlds, to quote CEO David Burritt who regards BRS as a ‘world competitive green steel asset’. Source: KAIT8.com, 18 January 2021.

• Nucor Corporation’s executive vice president of raw materials, Craig A Feldman, is to retire in June after 35 years of service with the American steel giant. As of 1 February, Daniel R Needham will be promoted to exective vice president of bar and rebar fabrication products. The company’s president and CEO, Leon Topalian, commenting on Mr Feldman’s departure, said: “With a career that spans three and a half decades, Craig’s leadership has contributed significantly to the success of DJJ and Nucor”. DJJ refers to the David J Joseph Company. Source: PR Newswire, 14 January 2021.

• An anti-dumping tariff targeting Chinese H-shaped beams going into South Korea has been extended by another five-year period, having been in force already since July 2015, according to South Korea’s Ministry of Trade, Industry and Energy. Source: Yonhap News Agency, 16 January 2021.

• An 88MW water electrolysis plant for energy firm Hydro-Québec is to be built in Varennes, Québec, Canada, and will generate 11,000 metric tonnes/ yr of green hydrogen. The green hydrogen division of Thyssenkrupp Ehde Chlorine Engineers will work on the installation of the plant. Source: CNBC.com, 19 January 2021. • As steelmakers around the world reel at the thought of being ‘the climate bad guys’, news comes out of South Korea that POSCO produces 81.48Mt of CO2 and Hyundai Steel 22.24Mt. They were, in fact, the top carbon ‘villains’ in South Korea in 2019. Steelmaking, claims Business Korea, is one of the largest emitters of environmental pollutants, such as greenhouse gases and fine dust. POSCO says it will be carbon neutral by 2050. Source: Business Korea, 18 January 2021.

• Steel Authority of India Ltd (SAIL) is planning to set up India’s first gas to ethanol plant at the company’s Chandrapur ferro alloy plant in Maharashtra. Hot gases, such as carbon dioxide, carbon monoxide and hydrogen emitted from a submerged electric arc furnace will be converted into ethanol using fermentation technology. When completed, the plant will be the fourth in the world in the steel sector. It is currently in operation by two plants in China and one (operated by ArcelorMittal) in Belgium. Source: Economic Times, 24 January 2021.

• Figures released by the World Steel Association show that global crude steel production reached 1.86 billion tonnes for the year 2020, down 0.9% when compared to 2019. Source: World Steel Association, 26 January 2021. • Argus Media reports that Liberty Steel will submit its bid for ThyssenKrupp Steel Europe, valuing the ‘lossmaking unit’ at several billion Euros. Investment bank Jefferies has valued it at around 1 billion Euros. Source: Argus Media.com, 25 January 2021.

• The West African nation of Liberia is hoping for $800 million of investment following talks with ArcelorMittal SA. Talks with the steelmaker regarding an amendment to a Mineral Development Agreement have made significant progress according to the country’s president, George Weah, and is likely to boost iron ore exports. Source: Bloomberg, 26 January 2021. • Austrian steelmaker Voestalpine is back to producing long products with two blast furnaces at its mill in Donawitz as demand rises, according to SP Global. The restarted furnace, which has an annual pig iron capacity of 750kt, has been idle since last summer (2020). With two furnaces up and running, the plant has an annual capacity of 1.5Mt. Source: S&P Global, 21 January 2021.

• Dillinger France, a subsidiary of the German Dillinger Group, and one of the world's largest manufacturers of heavy plates and quality steel, has been granted state subsidies for the modernisation of its pusher furnace number two. On 10 September 2020, the French Agency for the Environment and Control of Energy Consumption (ADEME) issued a call for projects on the energy efficiency of processes and public utilities in the industry. The project initiated by Dillinger France is the only one from Dunkirk and one of four projects of the Hauts-de-France region among the 16 applications accepted throughout France. Source: Dillinger, 26 January 2021.

• Despite capacity increases, sales from Russian steelmakers dipped in 2020 and largely because of COVID-19. MMK sold 5% less in 2020, Severstal’s sales volume was down 4% and only NLMK reported an increase in production, with crude steel production up less than 1%. Source: Argus Media, 26 January 2021. • With Wuhan virtually back to normal after the COVID-19 pandemic, but more cases being reported in the north of China, the World Health Organisation (WHO) is in town to investigate how the virus was unleashed on the world. Unfortunately, it appears that the Chinese authorities (the regime) are employing ‘tactics’ designed to stop people • LIBERTY Steel Group, part of Sanjeev Gupta’s sustainable industry leader GFG Alliance, has strengthened its Board with the appointment of Denise Timns (pictured) as an executive director and Monica Middleton as a non-executive director. According to Liberty, the new appointments continue the company's efforts to 'broaden the expertise of its senior management team as it continues its strong growth worldwide'. Source: Liberty Steel, 26 January 2021.

blabbing. The social media accounts of victims’ families have been taken down and a process of official obstruction, monitoring of social media groups and intimidation have been employed to stop the real story getting out. It’s going to be a long ride, said WHO. Source: Euro Weekly.com, 27 January 2021.

• In what is being touted as a 200-300 billion won ($272 million) deal, Hyundai BNG Steel is planning to acquire LG Hausys’ auto materials and industrial film business. Hyundai Motor Group is the preferred negotiatior for the acquisition, according to Pulse News, and a confirmative deal should be signed by March. Source: Pulse News.co.kr, 26 January 2021

For more steel industry news and features, visit www.steeltimesint.com

• Sluggish steel demand is to blame for South Korean steelmaker POSCO’s 38% fall in operating profits, according to Reuters. It’s all to do with COVID-19, it is claimed. Source: Reuters, 28 January 2021. • Scott Dorn has been appointed interim head of tubular solutions at US Steel Corporation. He takes over from Douglas Matthers, senior VP of tubular solutions, who has retired. Dorn has been involved in tubular products as both a director and general manager within US Steel. Source: BizJournals, 28 January 2021. • Hyundai Steel Co of South Korea lost an incredible 440.1 billion won ($394.3 million) in 2020, having turned a profit of 25.6 billion won the previous year. Who’s to blame? Did somebody say, COVID-19? Source: Yonhap News Agency, 28 January 2021.

• Figures released by the International Molybdenum Association (IMOA) show that the global production of molybdenum in Q3 rose 5% to 149.5 mlbs when compared to the same period of 2019, a 1% rise when compared to the previous quarter of 2020.Global use of molybdenum fell 1% to 138.5 mlbs when compared to the same quarter of the previous year, but rose 9% when compared to the previous quarter. Source: IMOA, 29 January 2021.

• Plans to inject $1.5 billion into US Steel Corporation’s Mon Valley operations have stalled. The company is reevaluating where it spends its money, according to CEO David Burritt. A report in the Pittsburgh Post-Gazette quoted him as saying the company needs to be a less capital-intense business, following news that the business lost a staggering $1.2 billion in 2020. However, he claimed that 2021 would be ‘a year unlike any other’, adding that this wasn’t ‘irrational exuberance’, quoting Alan Greenspan. Source: Pittsburgh PostGazette, 29 January 2021. • Swedish steelmaker SSAB's discussions with Tata Steel concerning the possible acquisition of the latter's IJmuiden steel mill have resulted in no deal being struck between the two companies. After deeper analysis and discussions, SSAB claimed there were 'limited possibilities' to integrate the Tata facility into SSAB's strategic framework. "We have carefully evaluated Tata Steel IJmuiden and have concluded that an acquisition would be diffi cult for technical reasons. We cannot be suffi ciently certain that we could implement our industrial plan with the preferred technical solutions as quickly as we would wish. We cannot align Tata Steel Ijmuiden with our sustainability strategy in the way desired," said Martin Lindqvist, president and CEO at SSAB. Source: SSAB, 29 January 2021.

• Contract worker Bebi Mandal died inside the Loco Repair shop of Tata Steel Jamshedpur. She lost consciousness and later died at Tata Main Hospital. She was not involved in an accident and it is believed she died from a medical condition. Her body has been sent for post-mortem, which will determine the cause of death. Source: The Avenue Mail, 30 January 2021. • It is reported that Ukrainian mining and steel group Metinvest increased pig iron output by 7% in 2020. The company produced 8.47Mt at its two facilities in Mariupol and increased production by 328kt at its Azovstal mill following a recent overhaul of its number three blast furnace. The company’s crude steel output was up 9% at 8.29Mt. Source: Steel Orbis, 1 February 2021. • Liberty Steel’s bid for ThyssenKrupp’s steel unit continues apace, says Steel Orbis, but there are issues. Liberty wants TK to cover a four billion Euro pension shortfall, ‘giving it a negative equity value of at least 1.5 billion Euros, according to Bloomberg. In fact, according to the Steel Orbis report, TK is still looking into the feasibility of keeping the steel unit as part of the business or as a spin-off of its steel unit. The story continues… Source: Steel Orbis 2 February 2021.

• Rocketing iron ore prices are forcing South Korean steelmaker POSCO to put up the price of thick steel plate by up to 15%. According to an online media report, the price of iron ore jumped on 28 January from $93.71 per ton to £157.42, according to data from Korea Resources Corporation. Source: Yonhap News Agency, 30 January 2021. • Fortune magazine has named Steel Dynamics Inc, one of the largest domestic steel producers and metals recyclers in the USA, as one of its 2021 World's Most Admired Companies. The company ranked No. 1 within the metals industry. "We are honoured by this recognition," said Mark D. Millett, president and chief executive offi cer. "Our recognition is testimony to the extraordinary passion and spirit of excellence exhibited by our teams. It is their drive, innovation, and dedication to each other that propels Steel Dynamics to the highest standard of operational and fi nancial performance. I thank each of them, and remind them, that their health and safety is our number one value and fi rst priority." Source: Steel Dynamics Inc, 2 February 2021.

For more steel industry news and features, visit www.steeltimesint.com

• Russian steelmaker Severstal claims that its net profits more than doubled in Q4 because it reduced its costs. The company made a net profit of $386 million for Q4, up $167 million from Q3 and achieved this despite a 7% drop in revenue. ‘Severstal was able to reduce costs in the period and also booked a $111 million gain on currency effects’, said MarketWatch. com Source: MarketWatch.com, 4 February 2021.

• Tata Steel is bad for your health? Residents of Ijmuiden think so and are suing the steelmaker. According to lawyer Benedicte Ficqu, the factory is ‘unscrupulously and deliberately’ dumping hazardous substances into the air and soil of a densely populated area and into the wild. The company is accused of consciously engaging in ‘very risky production processes’. Source, NL Times, 5 February 2021. •[All tonnages mentioned in this news article are net tons]. Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of January totaled 2.12Mt. This was a 0.1% decrease from the tonnage recorded in December and a 42.4% increase from the December preliminary imports total of 1.49Mt. Import permit tonnage for finished steel in January was 1.2Mt, down 10.3% from the preliminary imports total of 1.3Mt in December. The estimated finished steel import market share in January was 16% Source: AISI, 4th February 2021.

• Women are working in iron ore mines in India and are operating heavy earth-moving machinery. It's part of a diversity programme at Tata Steel's Noamundi mine where unskilled women are being trained to enable them to work in core jobs at the mine. According to Atrayee Sarkar, Tata's VP of human resources, the intiative reflects the company's commitment to diversity and inclusion. Source: Financial Express, 10 February 2021. • thyssenkrupp Steel has successfully completed the first phase of hydrogen tests on 'Blast Furnace 9' in Duisburg. In recent months, several tests on one of the 28 tuyères of this blast furnace could be conducted, while complying with corona requirements, among them some long-term tests. The company has gained important findings from the tests, enabling it to extend them to all tuyères in the next step and to transfer the technology to largescale industrial use. The

• The US International Trade Commission has made an affirmative final determination in the antidumping and countervailing duty investigations on vertical shaft engines with a displacement of between 225cc and 999cc from China. The ITC found that US vertical shaft engine producers have been materially injured by unfairly traded imports of vertical shaft engines from China, paving the way for imposition of AD/CVD orders. The law firm Wiley Rein is calling the ITC's final determination a victory for US industry. Source: Wiley Rein, 4th February 2021. injection tests are part of the company’s climate strategy with which it intends to reduce its CO2 emissions by 30% by 2030. Source: thyssenkrupp Steel, 4th February 2021.

• Crude steel production for Indian steelmaker JSW stood at 14.32 lakh tonnes for the month of January 2021, compared to 14.10 lakh tonnes for the same period in the previous year, showing growth of 2% year-on-year. Flat rolled products dipped by 1% and long rolled products production was up 5% to 3.59 lakh tonnes (January 2021). Average capacity utilisation for January 2021 was 96%. The production of flat rolled products declined 1% to 10.14 lakh tonnes. Source: IndiaInfoLine, 9 February 2021.