Fortescue Metals' Nev Power has 'great confidence' in China's long-term ...Sun, 29 Mar 2015 07:40:00 +0100
Mr Power said China's fundamental economic growth also remained strong and demand for steel would remain robust even as China ... or on Chinese media speculation that 15 per cent owner Hunan Valin could seize on Fortescue's low share price to increase ...
U.S. Steel preferred as play on likelihood of steel tariffs, Credit ...Sat, 28 Mar 2015 07:17:33 GMT
It's just a matter of time before U.S. steel companies such as Nucor , U.S. Steel and Steel Dynamics seek tariffs on imports , Credit Suisse analysts say. Recent plant closures by U.S. Steel and this week's State of Steel meetings in D.C. look like a convenient prelude to the filing of a steel trade case, the firm says, adding that one of the first steps is the demonstration of injury.
Lower Crude Oil Prices Are Behind the Layoffs at U.S. Steel - Market ...Fri, 27 Mar 2015 23:08:10 GMT
U.S. Steel (X) has issued notices to more than 2,000 employees of its Illinois plant under the Worker Adjustment and Retraining Notification (WARN) Act. The plant produces tubular products for the steel industry. The energy sector accounts for 10% of ...
US sheet steel buyers look ahead to price turnaround - PlattsFri, 27 Mar 2015 21:17:30 GMT
Platts Steel Markets Daily is a leading source for iron ore prices, scrap metal prices, and iron ore news. It is the only publication that publishes global metallurgical coal spot prices on a daily basis and contains two iron ore price benchmark ...
SMU Price Momentum Indicator Now at Neutral - Steel Market Update ...Fri, 27 Mar 2015 17:57:21 GMT
Since November 16, 2014 the SMU Price Momentum Indicator has been pointing toward Lower steel prices. Prior to November 16th we had a period of time where our Momentum Indicator vacillated between Neutral and Lower going back to May 2014.
Trends Driving Our $7 Price Estimate For Vale - ForbesFri, 27 Mar 2015 17:43:05 GMT
Thus, demand for iron ore by the steel industry plays a major role in determining its prices. International iron ore prices are largely determined by Chinese demand, since China is the largest consumer of iron ore in the world. It accounts for more ...
Why Vale SA may sell a stake in crown jewel Carajas iron ore mine ...Fri, 27 Mar 2015 15:28:09 GMT
Vale SA may need to do the unthinkable and sell a stake in its crown jewels as declining iron ore prices pressure the company's balance sheet. Deutsche Bank believes Vale should consider bringing in a partner at its Northern System operations, which ...
Clive Palmers empire feeling the pinch from falling iron ...Fri, 27 Mar 2015 10:24:59 GMT
Clive Palmer's business empire is feeling the pinch with a drop in iron ore prices and this week's $3 billion writedown of his prized asset, the Sino Iron project in Western Australia.
FTSE Ends Week With A Whimper As Commodity Stocks FallFri, 27 Mar 2015 09:32:49 GMT
By Sudip Kar-Gupta LONDON (Reuters) - Britain's main equity index fell for a fourth day on Friday, pulled down by commodity stocks as iron ore prices plunged and as a stronger U.S. doll...
Federal Police cracks down on tax litigation fraudFri, 27 Mar 2015 07:26:00 GMT
Suspects include financial institutions and big banks, automotive, manufacturing, steel, and agricultural companies, law and accounting firms, plus ten members of the Ministry of Finance Board of Tax Appeals (CARF) which hears tax litigation appeals.
Fortescue Metals Group: worthless or worth holding on toFri, 27 Mar 2015 07:11:55 GMT
Fortescue's stock is worthless at current spot iron ore prices, analysts at CBA calculate. Yet the broker community is, overall, neutral on the stock.
Russian coal miner Raspadskaya says will not pay dividends on 2014 ...Fri, 27 Mar 2015 06:29:32 GMT
Russian coking coal miner Raspadskaya said on Friday it would not pay dividends on its 2014 results. The company, controlled by steelmaker Evraz, is scheduled to release financial results for the fourth ...
China's Baosteel criticises call for iron ore output capFri, 27 Mar 2015 05:01:39 GMT
Any action that is contrary to the law is unwise, and is not good for fair competition," Baosteel Chief Financial Officer Zhu Kebing told an online briefing on Friday. Baosteel's criticism of Fortescue's suggestion came a day after the head of Rio Tinto , the world's second-biggest iron ore miner, called it a "harebrained scheme" saying there would be no benefit to Australia from trying to ...
Australia must keep up iron ore production, says Gina Rinehart - ...Fri, 27 Mar 2015 04:10:40 GMT
Fortescue Metals Group chairman and founder Andrew Forrest this week called for Australian iron ore producers to introduce a cap on their output in an effort to stop the steep decline in iron ore prices. The Australian Competition and Consumer ...
About 75 percent of China iron ore mining capacity loss-making - ...Fri, 27 Mar 2015 03:41:50 GMT
Three-quarters of China's domestic iron ore capacity is incurring losses, an industry official said on Friday, as a sustained slump in the price of the steelmaking commodity batters higher cost producers. The price of iron ore has more than halved in the past 12 months amid a supply glut deepened by soaring output from low-cost mega miners from Australia and Brazil squeezing smaller suppliers ...