Steel industry economic news - prices, costs, investment.
sotn


Economic News

Economic steel sector headlines and reports


Import duties help, says ArcelorMittal SA - BDlive
Mon, 25 Jul 2016 05:14:11 +0100
ArcelorMittal SA posted a loss of R8.63bn in the year ended December 2015, from a loss of R158m a year earlier, amid a surge of cheaper Chinese steel imports into SA. The key initiatives included a long-delayed broad-based black economic empowerment ...
http://www.bdlive.co.za/business/industrials/2016/07/25/import-duties-help-says-arcelormittal-sa


Minister rules out inquiry on iron ore - The West Australian
Sun, 24 Jul 2016 23:52:40 +0100
Senator Canavan has also ruled out holding an inquiry into iron ore pricing and is keen for the Federal Government to do more mapping of prospective deposits to be ready when resources prices recover. The Queensland Nationals senator has enjoyed a ...
https://au.news.yahoo.com/thewest/wa/a/32140908/minister-rules-out-iron-ore-inquiry/


United States Steel Corp. (X) to Release Earnings on Tuesday
Sun, 24 Jul 2016 10:31:17 +0100
United States Steel Corp. will post its quarterly earnings results after the market closes on Tuesday, July 26th. Analysts expect United States Steel Corp. to post earnings of per share for the quarter.
http://redirect.viglink.com?u=http://www.topix.com/business/steel/2016/07/united-states-steel-corp-x-to-release-earnings-on-tuesday%3Ffromrss%3D1&key=ddaed8f51db7bb1330a6f6de768a69b8


Global steel prices to soften during July-Dec: BMI Research - Hindu ...
Sun, 24 Jul 2016 07:26:18 +0100
Global steel prices are expected to decline in the second half of the current calender year, after an upward rally during January-June, on account of decline in demand in the world's largest consumer, China. However, BMI Research, a Fitch Group firm ...
http://www.thehindubusinessline.com/economy/global-steel-prices-to-soften-during-julydec-bmi-research/article8893787.ece


Vale cuts iron ore guidance - Mining Journal (subscription)
Sun, 24 Jul 2016 07:09:39 +0100
Vale might have trumped analyst expectations with its June quarter iron ore production results, but its announcement that it will trim output guidance next year is predictable. Staff reporter; 24 Jul 2016; 6:46; Feature. Share ...
http://www.mining-journal.com/commodities/iron-ore/vale-cuts-iron-ore-guidance/


What Majors' Production Reports Tell Us About Iron Ore Prices
Sat, 23 Jul 2016 01:31:00 +0100
BHP Billiton's iron ore production was 257 million tons in 2016 financial year, and the company expects to produce between 265 million and 275 million tons in 2017 financial year. Samarco disaster put pressure on production numbers for FY 2016, but next ...
http://redirect.viglink.com?u=http://www.bing.com/news/apiclick.aspx%3Fref%3DFexRss%26aid%3D%26tid%3D8997E3CF61B04111956F56D942EA345A%26url%3Dhttp%253A%252F%252Fseekingalpha.com%252Farticle%252F3990831-majors-production-reports-tell-us-iron-ore-prices%26c%3D3460189981918637557%26mkt%3Den-gb&key=ddaed8f51db7bb1330a6f6de768a69b8


Chinese Iron Ore Futures Fall, Posting Weekly Loss - Hellenic Shipping ...
Fri, 22 Jul 2016 22:05:22 +0100
Iron ore futures earlier tried to catch up with spot prices, but growing port inventories and slower demand due to falling steel output dampened prices, said Li Wenjing, an analyst with Industrial Futures in Shanghai. Li said after taking taxes and ...
http://www.hellenicshippingnews.com/chinese-iron-ore-futures-fall-posting-weekly-loss/


Iron ore giants set to reduce costs as steel prices flatten - The ...
Fri, 22 Jul 2016 15:09:13 +0100
So while the well-known increase in Vale output from its S11D new mine development is still coming, its overall output is not going to be as big as first thought as the company focuses on margin xxx by knocking out higher cost production in ...
http://www.theaustralian.com.au/business/mining-energy/iron-ore-giants-set-to-reduce-costs-as-steel-prices-flatten/news-story/56704e5450c150a9e51908cf6c27934a


ArcelorMittal South Africa Sees Return to Profit on State Duties ...
Fri, 22 Jul 2016 14:27:11 +0100
ArcelorMittal South Africa Ltd. said it may return to profit for the first time since 2010 provided the government introduces more tariffs in the next three months that will protect the continent's biggest steel producer from cheaper imports. With the ...
http://www.bloomberg.com/news/articles/2016-07-22/arcelormittal-south-africa-sees-return-to-profit-on-state-duties


ArcelorMittal expects its loss to widen - BDlive
Fri, 22 Jul 2016 13:45:04 +0100
'The local steel industry continues to be threatened by imports entering the market, primarily from China, despite the positive progress made on duties to date,' ArcelorMittal said in Friday's trading statement. 'Based on the current initiatives, and ...
http://www.bdlive.co.za/business/industrials/2016/07/22/arcelormittal-expects-its-loss-to-widen


Beef is the new iron ore - MacroBusiness (blog)
Fri, 22 Jul 2016 00:45:56 +0100
Australia's live cattle exporters could soon enjoy another surge in prices as turbocharged demand from China makes beef the new iron ore. Abattoirs on the mainland are almost ready to begin importing live cattle, a decade after Chinese demand drove ...
http://www.macrobusiness.com.au/2016/07/beef-is-the-new-iron-ore/


The steel rally is going to 'fizzle out' soon - Business ...
Thu, 21 Jul 2016 18:00:13 +0100
Business Insider UKSteel prices have rallied so far in 2016, but the increase in prices could be short-lived. A new note from BMI Research predicts that steel's rally in the first half of this year is going to fade in the second half, driven mostly by excess capacity ...
http://uk.businessinsider.com/steel-price-rally-ending-2016-7


Iron ore prices are climbing again
Thu, 21 Jul 2016 16:11:00 +0100
Spot prices of some steel products in a key producing region of Tangshan in northern China rose by 80 yuan, said Reuters - . Tangshan is due to commemorate the anniversary of a powerful earthquake that struck the city later in the month, with local government ...
http://redirect.viglink.com?u=http://www.bing.com/news/apiclick.aspx%3Fref%3DFexRss%26aid%3D%26tid%3DC2B87031EA7D4A3EB93F7AE2BC702EC3%26url%3Dhttp%253A%252F%252Fwww.businessinsider.com.au%252Firon-ore-prices-are-climbing-again-2016-7%26c%3D6833532226519144517%26mkt%3Den-gb&key=ddaed8f51db7bb1330a6f6de768a69b8


Analysts Downgrade of the Day: Tenaris SA (ADR) (NYSE:TS) - Review ...
Thu, 21 Jul 2016 12:42:00 +0100
Over the past month, we have seen a rapid escalation in steel and raw material costs while OCTG pipe prices continue to decline on reduced consumption and pressure from excess inventories on the ground. This is unsustainable and we expect that OCTG ...
http://reviewfortune.com/2016/07/21/analysts-downgrade-of-the-day-tenaris-sa-adr-nysets/


Port Talbot steel firm Fairwood closes and 66 jobs go - BBC News
Thu, 21 Jul 2016 11:18:05 +0100
An engineering firm with strong links with the steel industry has ceased trading, with the loss of 66 jobs. Fairwood Fabrications, based in Port Talbot, has been involved in the steel industry for more than 35 years. Jobs have been lost since its ...
http://www.bbc.co.uk/news/uk-wales-36855684



If you have a steel industry news item or company press release that you would like us to publish above and distribute without restrictions concerning syndication and reuse, then please contact support@steelonthenet.com.