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Economic steel sector headlines and reports


Audit clears way for Iluka move on Sierra Rutile
Wed, 07 Dec 2016 06:01:00 GMT
Greater scrutiny of tailings dams is now set to become a feature of due diligence undertakings in mergers following last years disaster at the BHP Billiton and Vale-owned Samarco iron ore operation in Brazil. Nineteen people were killed in the November ...
http://www.theaustralian.com.au/business/mining-energy/audit-clears-way-for-iluka-move-on-sierra-rutile/news-story/f35e92e56fe58790b4e607c7a992aabf&c=1499932149403632737&mkt=en-gb


Iluka Resources to finalise Sierra Rutile takeover after clearing ...
Tue, 06 Dec 2016 21:45:00 GMT
Morningstar analyst Mathew Hodge said while tailings dam inspections were a normal part of the due-diligence process, companies had been especially vigilant after last year's tragedy at the Samarco iron ore operation in Brazil, owned by BHP Billiton and Vale.
http://www.afr.com/business/mining/iluka-resources-to-finalise-sierra-rutile-takeover-after-clearing-dam-concerns-20161206-gt5lud&c=17239755490911808532&mkt=en-gb


Nucor to acquire Southland Tube
Tue, 06 Dec 2016 19:01:41 GMT
Nucor Corp. , Charlotte, has agreed to acquire Southland Tube , an independent manufacturer of hollow structural section steel tubing, for $130 million The acquisition of Southland Tube is an excellent fit for our Nucor family and our strategy for profitable growth, says John Ferriola, chairman, CEO and president of Nucor. It complements our recent acquisition of Independence Tube in the HSS steel tubing market.
http://www.topix.com/com/nue/2016/12/nucor-to-acquire-southland-tube?fromrss=1


Vale says expects judge to approve Samarco settlement soon
Fri, 02 Dec 2016 05:25:00 GMT
LONDON Vale SA, the world's top iron ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a ...
http://www.reuters.com/article/us-vale-sa-samarco-idUSKBN13Q4YC&c=6540081976342572180&mkt=en-gb


Vale says expects judge to approve Samarco settlement soon
Thu, 01 Dec 2016 07:53:00 GMT
LONDON Vale SA, the world's top iron ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a ...
http://www.reuters.com/article/us-vale-sa-samarco-idUSKBN13Q4YC&c=6540081976342572180&mkt=en-gb


Glencore to resume dividend in 2017 as debt reduction on track
Thu, 01 Dec 2016 00:00:00 GMT
Soaring coal prices have helped Glencore, the worlds biggest provider of the thermal kind, straighten its balance sheet.
http://www.mining.com/glencore-resume-dividend-2017-debt-reduction-track/


EDITORIAL COMMENT: Patrick Chinamasa spot on
Wed, 30 Nov 2016 20:51:00 GMT
DITHERING government bureaucrats and their political principals are said to have started a process of establishing the cost required to revive the moribund Zimbabwe Iron and Steel Company (Zisco) with the view of determining whether this can be done using ...
http://www.financialgazette.co.zw/editorial-comment-patrick-chinamasa-spot-on/&c=5095319775770563790&mkt=en-gb


Better Buy: Teck Resources Ltd. vs. Companhia Siderurgica Nacional
Wed, 30 Nov 2016 07:58:00 GMT
A combination of higher prices for steel and iron ore (27% of revenues and 45% of adjusted EBITDA ... If you want to bet on Brazil, by all means look at Companhia Siderurgica Nacional. But if what you really want is a foreign-based company that has ...
http://www.fool.com/investing/2016/11/30/better-buy-teck-resources-ltd-vs-companhia-siderur.aspx&c=10875187725612469101&mkt=en-gb


Saudis Al Ittefaq Steel hopeful it can reach deal on 6.2b riyal ...
Wed, 30 Nov 2016 07:16:00 GMT
Al Ittefaq, the largest private sector steel producer in Saudi Arabia and a subsidiary of Al Tuwairqi Holding, is undergoing its second debt renegotiation in the last seven years after the initial slump in steel prices left it unable to service loans used ...
http://gulfnews.com/business/companies/saudi-s-al-ittefaq-steel-hopeful-it-can-reach-deal-on-6-2b-riyal-debt-ceo-1.1938128&c=6712736325839869287&mkt=en-gb


Saudi's Al Ittefaq Steel hopeful it can reach deal on 6.2 bln ...
Wed, 30 Nov 2016 05:48:00 GMT
Saudi Basic Industries Corp (SABIC) said in October it would spin off its struggling steel unit, Hadeed, having booked a 725 million riyal loss on its metals business in the first quarter. The wider construction industry is having a similarly difficult time.
http://www.reuters.com/article/saudi-restructuring-al-ittefaq-idUSL8N1DI57F&c=10462160632885844429&mkt=en-gb


Saudi's Al Ittefaq Steel hopeful it can reach deal on 6.2 bln ...
Wed, 30 Nov 2016 05:40:00 GMT
Al Ittefaq, the largest private sector steel producer in Saudi Arabia and a subsidiary of Al Tuwairqi Holding, is undergoing its second debt renegotiation in the last seven years after the initial slump in steel prices left it unable to service loans used ...
http://www.reuters.com/article/saudi-restructuring-al-ittefaq-idUSL8N1DI57F&c=10462160632885844429&mkt=en-gb


Whats Next for Iron Ore and Coal Prices
Tue, 29 Nov 2016 20:47:00 GMT
Hebeis capital city, Shijiazhuang, has announced it will ban steel production and several other kinds of ... billet south and apparently coal transportation costs from Shanxi to Tangshan has increased from RMB130/t to RMB230/t (up 76%).
http://www.barrons.com/articles/whats-next-for-iron-ore-and-coal-prices-1480480832&c=1763021964325178394&mkt=en-gb


German union leader says will fight for plants in Tata-Thyssen ...
Tue, 29 Nov 2016 13:06:00 GMT
I don't see any strengthening (of Thyssenkrupp) through a merger with Tata, Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil. Steel-to-elevators group Thyssenkrupp has been exploring a steel merger with Tata in ...
http://www.firstpost.com/fwire/german-union-leader-says-will-fight-for-plants-in-tata-thyssen-merger-reuters-3130972.html&c=1122161360197084952&mkt=en-gb


German union leader says will fight for plants in Tata-Thyssen ...
Tue, 29 Nov 2016 04:01:00 GMT
I don't see any strengthening (of Thyssenkrupp) through a merger with Tata, Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil. Steel-to-elevators group Thyssenkrupp has been exploring a steel merger with Tata in ...
http://www.reuters.com/article/us-tata-thyssenkrupp-labour-idUSKBN13O19V&c=8039322812831475045&mkt=en-gb


State Treasurer State of Michigan Purchases 700 Shares of Nucor ...
Sat, 26 Nov 2016 03:08:19 GMT
State Treasurer State of Michigan boosted its stake in shares of Nucor Corp. by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,127 shares of the company's stock after buying an additional 700 shares during the period.
http://www.topix.com/com/nue/2016/11/state-treasurer-state-of-michigan-purchases-700-shares-of-nucor-corp?fromrss=1


Number of news reports: 15




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