, Pohang raised this year's sales and crude steel production target
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benefit from strong demand for cars and appliances, the first quarter of this year, Pohang crude steel production of 8.23 million tons, up by 33.9 percent, with sales of 6.95 trillion won, an increase of 7.4% The operating profit of 1.447 trillion won, an increase of 287.9%, net profit of 1.437 trillion won, an increase of 342.2%. But subject to the Gwangyang plant annual maintenance, one-quarter crude steel output down 1.7%, sales dropped 5.9 percent to 7.48 million tons. POSCO this year, crude steel production will be 29.5 million tons of 2009 increased 17 percent, to 34.5 million tons, steel sales increased 14 percent from last year's 28.4 million tons to 32.4 million tons.
India to raise iron ore export tax Treasury Minister PranabMukherjee, on Thursday said lump ore export tax from 10% to 15% export tax on iron ore fines remained not yet adjusted.
Pohang steel demand this year will continue to be restored, but the increase in sales can not be transformed into huge profits. Uncertainty will hinder the economic outlook steel cost increase passed on to all users, steel prices can not be consistent with the raw material price increases. The analyst also said that unless the economy has entered a mature stage of recovery, or by continuously increases will increase the cost of raw materials all pass on a certain degree of difficulty. Pohang steel the increase in sales in 2010 will be the rising costs and the global financial crunch, swallow, will be offset by strong demand for home appliances and automotive industries. After all, the construction sector is not yet fully restored, is not a considerable increase in shipbuilding orders, steel mills, profitability is solid world pie network information , but the current procurement may be short-term and long-term there are still many uncertainties. Reflect this concern, POSCO's stock fell 15 percent from the high point came in early January this year, two years.
recently, by the callback of the Chinese domestic steel market, the spot ore price fell slightly from the previous high of about $ 192 / ton (CFR) down to $ 185 / t ( CFR) around. However, the majority of traders still confident that the market outlook, with the advent of the rainy season in India, the ore supply will be further tightening of the spot ore prices may rise again.
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ArcelorMittal and POSCO intends to build factories jointly with SAIL. ArcelorMittal, the world's largest iron and steel manufacturers to seek cooperation with India's largest steel manufacturer, Steel Authority of India (SAIL), plans to set up a joint venture in the SAIL bokaro steel with an annual capacity of 3 million tons iron and steel enterprises to invest about 120 billion rupees. Arcelor Mittal's move is a step South Korean Pohang Iron and Steel Company footsteps, just not long ago, Pohang claims built jointly with SAIL steel plants as well as study the formation of technology alliances, provided Finex ironmaking technology. It is said that Japan's Kobe Steel will join the alliance, to SAIL ITMK3 new ironmaking technology. Pohang look forward to working jointly with the PSU Orissa steel project construction had not commenced.
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Government of India aim to ensure the domestic steel mills, high-quality supply of raw materials, the recent period, iron ore supply shortage has led to price increases world pie network information . Mukherjee said that the lump ore export taxes to 15%, also taking into account the export volume as well as domestic and international prices before deciding. The end of last year ore export taxes from 5% to 10%, levied a 5% export tax on iron ore fines.
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the world's fourth largest steel manufacturer Posco of South Korea based on the optimistic outlook for the automotive, appliance and construction steel demand to increase its 2010 sales and crude steel production target. Sales target for this year will be increased by 8 percent, from 29.5 trillion won of the previously identified to improve to 31.9 trillion won ($ 28.6 billion), crude steel production increased from 34.4 million tons to 34.5 million tons.
India ore export tax hike may inhibit the lump ore purchases. Chinese ore imports from India for iron ore fines and lump ore only about 12%, it is estimated has little effect. But this release signal is that India is gradually control the resource exports, the latter could increase the export of iron ore fines of concern, before there were rumors lump ore and fine ore will be unified to 20%. India is following after Australia and Brazil, China's third largest ore suppliers, China's imports from India in March ore of 13.46 million tons, up by 4.25%. January to March, imports totaled 33.26 million tons, down 2.4% year-on-year. January-March data show that India has surpassed Brazil to become China's second largest iron ore supply.
Second, the Government of India raised lump ore export taxes to China
view of the increased costs, recently Pohang Iron and Steel Company decided to raise the May ex-factory price, the hot volume increased by about 25%, ranging from $ 153 / t, but not yet fully offset raw material prices the cost increase. Only iron ore and coking coal prices rose sharply, the the Pohang costs by about 170-190 U.S. dollars / ton.
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Wuhan Iron and Steel to invest $ 5 billion annual output of 5 million tons of steel to build steel mills in Brazil. Wuhan Iron and Steel plans to further clarify the plan of the construction of steel mills in Brazil. In Pakistan cooperation agreement, including a Chinese will invest $ 5 billion to build a steel plant in, Acu Hong Kong, Rio de Janeiro, Brazil. This will be in Brazil, the largest investment, the largest steel plant project is so far the Chinese built overseas. This steel project is a joint venture by the domestic steel giant Wuhan Iron and Steel and Brazil, the richest man the Aiji Bart Starr (EikeBatista)'s logistics enterprises LLXLogistica, Wuhan Iron and Steel will have a 70% stake in the steel mills, LLXLogistica company will hold the remaining 30% of the shares. Steel plan put into operation three years later. The steel plant can be put into operation an annual output of 5 million tons, mainly used in the Brazilian automobile, shipbuilding and oil industry, the rest will be exported to China. Wuhan Iron and steel mills to be established in Brazil is located in the Wuhan Iron and just invest in shares near the mines. Last year, the Wuhan Iron and Steel has announced the ordinary shares to buy Brazilian mining enterprises MMX acquired 9.09% stake in the latter, a total of $ 120 million, while Wuhan Iron and Steel will acquire a subsidiary of MMX Sudesteeracao23% of the shares, a total of $ 280 million. MMX was the same holding by Aiji Bart Starr, MMX mining company's iron ore annual output of 10.8 million tons, can be expanded to 40 million tons, MMX mining rights in Chile. (Man, Culture and the Mysteel International Department)
three major steel mills scramble to Brazil, India, invest and build factories