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Economic News

Economic steel sector headlines and reports

Alliance Resource Partners, L.P. Reports Record Annual Operating ...
Wed, 28 Jan 2015 12:00:00 GMT
Alliance Resource Partners, L.P. today reported record operating and financial results for the fourteenth consecutive year, as it set new annual benchmarks for coal sales and production volumes, revenues, net income and EBITDA for the year ended December 31, 2014 .

Anglo American flags likely charges after slump in commodity prices
Wed, 28 Jan 2015 10:47:20 GMT
Anglo American Plc (LSE: AAL.L - news) has warned it will likely take a charge on last year's results, becoming the first major mining group to explicitly acknowledge the impact of recent falls in prices of iron ore, coal and other commodities. The company, which also posted annual production slightly ahead of guidance for key commodities, said it expected to take certain one-off non-cash ...

U.S. Steel Q4 Net Falls But Beats Views
Wed, 28 Jan 2015 01:50:48 GMT
United States Steel Corporation gained in Tuesday's extended session after the company beat fourth-quarter expectations despite declining steel prices. Fourth quarter net income dropped 7 percent to $275 million, or $1.83 per diluted share, compared with $297 million, or $1.93 per diluted share a year earlier.

US Steelmakers Take Hit From Drilling Cutbacks - Wall Street Journal
Tue, 27 Jan 2015 23:49:48 GMT
PITTSBURGHAfter a robust year, highlighted by U.S. Steel Corp. 's first annual profit since 2008, the steel industry is facing an unexpected menace in tumbling oil prices, which have forced production cutbacks and even pressured prices for automotive ...

US Steel profit down, warns of strong dollar, low oil prices in 2015 ...
Tue, 27 Jan 2015 22:38:32 GMT
The Pittsburgh-based company gave its assessment of what it called a "volatile market" in 2015 as it reported a lower fourth quarter net profit that was hurt by falling steel prices and the strong U.S. dollar. But the company's earnings came in well ...

Walter Energy Suspends Dividend
Tue, 27 Jan 2015 21:10:09 GMT
Walter Energy, Inc. , a leading, publicly traded 'pure play' producer of metallurgical coal for the global steel industry, has suspended its quarterly dividend on its common stock to enhance ...

AK Steel Turnaround Shows Through Earnings - 24/7 Wall St.
Tue, 27 Jan 2015 20:16:08 GMT
What is happening in this turnaround process is that operating costs were higher at the same time that its realized steel prices were lower. Those costs were up 37%, but the realized steel price per ton was down 4% year over year and down 9% sequentially.

U.S. miner Cliffs seeks creditor protection in Canada
Tue, 27 Jan 2015 19:09:16 GMT
Iron ore and coal miner Cliffs Natural Resources Inc has become the third major U.S. company in the past six months to seek creditor protection for its Canadian arm to try to isolate losses and protect shareholders. The miner said Bloom Lake General Partner Ltd and some of its affiliates, including Cliffs Quebec Iron Mining, commenced restructuring proceedings in Montreal on Tuesday. The move ...

AK Steel, Nucor Q4 Propelled By Autos, Construction Despite Concerns ...
Tue, 27 Jan 2015 18:41:06 GMT
Investor's Business DailySteelmakers AK Steel (NYSE:AKS) and Nucor (NYSE:NUE) on Tuesday for the most part beat fourth-quarter 2014 expectations, amid rebounds in the auto and construction industries. But concerns persisted about low commodity prices dragged by oversupply ...

Higher shipment boosts steelmaker Nucor's profit
Tue, 27 Jan 2015 17:33:33 GMT
Nucor Corp, the No. 1 U.S. steelmaker by market capitalization, reported a better-than-expected quarterly profit due to increases in selling price and shipments.

Steel Dynamics Earnings Expected to Rise
Tue, 27 Jan 2015 16:05:23 GMT
Analysts expect higher profit for Steel Dynamicswhen the company reports its fourth quarter results on Wednesday, January 28, 2015. The consensus estimate is calling for profit of 40 cents a share, reflecting a rise from 24 cents per share a year ago.The consensus estimate has increased over the past month,

Will Lower Crude Oil Prices Dent U.S. Steels 4Q earnings
Tue, 27 Jan 2015 15:23:02 GMT
Well analyze the impact of lower crude prices on U.S. Steels 4Q earnings in detail.

New rebar tariff could raise cost of George Massey bridge by $32 ...
Tue, 27 Jan 2015 14:40:00 GMT
British Columbia's construction industry is warning that a new tariff on imported steel rebar could raise the price of construction in the province. The tariff is meant to counteract cheaper Chinese, South Korean and Turkish rebar being 'dumped' on ...

Iron ore slump threatens Bradken deal - Business Spectator
Tue, 27 Jan 2015 14:31:38 GMT
The continuing slide in the iron ore price is casting further doubt that Bradken will be swallowed in a $872 million takeover by Bain Capital and Pacific Equity Partners. Some analysts are now advising investors to sell out of the stock, arguing an ...

Nucor Reports Results For Fourth Quarter And Year Ended 2014
Tue, 27 Jan 2015 14:00:00 GMT
CHARLOTTE, N.C., Jan. 27, 2015 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today consolidated net earnings of $713.9 million, or $2.22 per diluted share, for the full year 2014, an improvement ...;_ylt=AwrBJR.7EMhUT2gAtn3_wgt.

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