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Major Events In January 2005 Over Ferrous Raw Materials (3)
Jan. 20:

<JISF Chairman Mr. Mimura: 'Raw material cost may increase by over one trillion yen'>
Akio MIMURA, Chairman of The Japan Iron and Steel Federation (JISF) expressed his fear that ferrous raw material costs may increase by over one trillion yen in 2005, surpassing the implications by value of the oil crisis in 1973 and the price rises may continue into several more years, far from coming to a halt within next year," and "We would take every possible measure so as to curb the cost increment."

<CVRD budgets record high US$3.3 billion capex for 2005>
Brazil's resources company CVRD announced its capital expenditure (capex) budget for 2005 at US$3.33 billion, including $2.22 billion for project expenditure and $375 million for R & D, all of which abundantly demonstrating the Company's strong growth-oriented attitude.

<Rio Tinto's coal production reaches 157.43 million tons in 2004>
A subsidiary coal company of Rio Tinto announced it produced 157.43 million tons (Mt) of coal in 2004, up by 8.69 Mt (5.8%) from the previous year. Hard coking coal accounted for 6.76 Mt (up 192.5%), or a threefold increase over the levels of 2003, and other coal 150.68 Mt increasing by 2.9%.

Jan. 21:

<Global crude steel production comes into one-billion-ton age>
According to the preliminary data released by the IISI concerning global iron and steel production in 2004, crude steel production first exceeded one billion tons for the first time at 1.035 billion tons. The output has been growing at a rate of 100 million tons (Mt) every two years, as: 800 Mt in 2000 and 900 Mt in 2002. China accounts for 272 Mt in the total crude steel production with an increase of 51.3 Mt from 2003, thereby predominantly contributing to the global growth.

<Hamersley Iron sets record production and sales in 2004>
Australian iron ore producer Hamersley Iron set record production and sales in 2004, with each reaching 78,135 thousand metric tons (Kt), up 6.4% from the levels in 2003, and 76,512 Kt, up 6.4%.

<CVRD allocates budget for nickel resources development>
Companhia Vale do Rio Doce S.A. (CVRD) which is developing nickel resources at Rio Vermelho in the State of Para, Brazil, has allocated an initial investment budget of US$34 million for this development project.

<Tokyo Steel to start steel plate production>
Tokyo Steel Manufacturing Co announced it would start steel plate production at its Kyushu works, where it has a 130-ton DC-operated EAF producing ordinary sections, wide flange beams, steel sheet piles and universal plates.

Jan. 24:

<Nippon Steel starts study on use of upstream production facilities of Sumikin Iron and Steel Corp>
Nippon Steel Corp has started a joint study with Sumitomo Metals on use of upstream production facilities installed at Sumikin Iron and Steel Corp in Wakayama Pref., Japan, assuming its capital investment in East Asia United Steel Corp (Sumitomo Metals 62%, China Steel Corp 33% and Sumitomo Corp 5%) in Taiwan.

<Anshan Iron and Steel to construct new blast furnace>
Anshan Iron and Steel (Group) Corp announced its plan to construct a new 5-Mt/a blast furnace at Yingkou in Liaoning Province. Product lineup targets mainly steel plates of various thicknesses. Capital expenditure RMB 20 billion. Construction of the new furnace will be likely commenced in March this year for coming on stream in October 2006.

Jan. 25:

<Robe River marks record production and sales in 2004>
Robe River announced iron ore production in 2004 was 48.46 Mt, up 7.4%, and sales 50.43 Mt, up 15.0%, both of which renewed past records. With West Angelas coming into a full-scale operation, the Company has been breaking records from year to year.

<Iron ore production at IOC Canada suffers strike consequences>
Iron ore production and sales in 2004 at Iron Ore Company of Canada remained at 11.14 Mt and 8.53 Mt, respectively, with each dropping 21.7% and 42.9% from the previous year. The company could not fully respond to the increased demand for pellets unluckily, being affected by the strike that took place in July - October.

<Shortage of coke spurring new and expansion projects of coke ovens worldwide>
General shortage of coke is prompting new and expansion projects of coke ovens worldwide. South African Ispat Iscor has decided to construct a new 450,000 tons/year coke oven battery at its Newcastle steel plant, which will draw major part of coking coal on Grootegeluk coal mine of Kumba Resources. Tata Iron and Steel of India intends to construct a new 800,000-ton/year coke manufacturing plant at Haldia in the northeast region of the country in joint venture with WBIDC.

<MetalOne forms joint venture for Qingdao coil center in China>
MetalOne announced its establishment of a coil center at Qingdao, China in joint venture with a Chinese enterprise at a respective interest holding of 25% and 85%, as a tenth of its kind in China for the Japanese trading company. A number of China's major manufacturers of household electrical appliances are actively operating in and around Qingdao.

Jan. 26:

<Mechel Steel Group acquires 25 percent shares in Yakutugol>
The bidding called for by Saha Republic of Russia to sell out part of its shares in Yakutugol has resulted in Russian leading steel mill Mechel Steel Group becoming the awardee to acquire a 25% plus one shares in this coal producing entity. Among others, Magnitogorsk Iron and Steel competed with Mechel in the bidding.

<Tokuyama to construct waster-plastic-into-fuel converting plant>
Japan's quasi-leading general chemical products manufacturer Tokuyama (headquartered at Shunan city in Yamaguchi Pref.) has set to construction of a fourth plant to process waste plastic into fuel at its Nanyo plant in the Tokuyama Works. Waste tires and waste plastic are recycled into substitute fuel for cement plants. Annual designed treatment capacity 40,000 tons. Total expenditure 1.8 billion yen. Completion scheduled for November 2005.
last modified : Thu 03 Mar, 2005 [10:13]
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