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Economic steel sector headlines and reports


Iron ore revival puts local miners back in the black
Sun, 26 Apr 2015 07:35:10 +0100
A 23 per cent rise in iron ore prices has dragged some miners out of a loss-making situation
http://brisbanetimes.com.au/business/mining-and-resources/iron-ore-revival-puts-local-miners-back-in-the-black-20150426-1mteaa.html


Kumba sparks JSE rally as iron ore prices surge - Times LIVE
Sat, 25 Apr 2015 23:00:33 +0100
Kumba rose nearly 11% after spot iron ore surged as Chinese futures hit their upward daily limit, and posted a second weekly gain with mills in the world's top ore consumer stepping up buying. BHPBilliton rose 3.4% as iron ore entered a bull market.
http://www.timeslive.co.za/businesstimes/2015/04/26/kumba-sparks-jse-rally-as-iron-ore-prices-surge


Other View: US steel industry needs level playing field - Duluth ...
Sat, 25 Apr 2015 04:06:03 +0100
Idling plants in Minnesota is a symptom of the larger, vexing woes of the United States steel industry. A steel glut on the world market has dramatically driven down prices and led to surging imports. Excess global capacity was estimated by a 2014 ...
http://www.duluthnewstribune.com/opinion/other-view/3730988-other-view-us-steel-industry-needs-level-playing-field


Will Lower Oil Prices Weigh on U.S. Steels (X) Earnings - Zacks.com
Fri, 24 Apr 2015 22:15:46 +0100
Zacks.comOversupply in the steel industry has put pressure on steel prices as Chinese steel production outpaced demand. In addition, China's leading position in steel production may give the Chinese players a better control over pricing. The low costs of ...
http://www.zacks.com/stock/news/172272/will-lower-oil-prices-weigh-on-us-steels-x-earnings


Brazil's Vale Signs $2 Billion Financing Agreement With Korea Eximbank
Fri, 24 Apr 2015 11:30:00 +0100
The deal comes at a time when depressed prices for iron ore and other commodities are weighing on ... one of the world's top steel companies and a partner of Vale in Companhia Siderurgica do Pecem, a major steelmaking project in northeast Brazil.
http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=df1a9fa24874401289d168287dcbb7cb&url=http://www.4-traders.com/VALE-SA-6492836/news/Brazils-Vale-Signs-2-Billion-Financing-Agreement-With-Korea-Eximbank-20254555/&c=VnJ-_qJj16qjldmLiRPrqlvOcs-hTQWvIB44fTfpF7U&mkt=en-gb


BHP breaks ranks on iron ore
Fri, 24 Apr 2015 07:08:36 +0100
A significant split occurred between Australia's iron ore giants this week when BHP Billiton said publicly that it was slowing down its expansion. It was only two sentences in a quarterly report, but was a major break from BHP and Rio Tinto's controversial narrative of unrelenting growth no matter the effect on prices - as long as you are making money. Highlighting how far iron ore prices have ...
http://au.finance.yahoo.com/news/bhp-breaks-ranks-iron-ore-053607280.html


Iron ore extends rebound on improved supply outlook
Thu, 23 Apr 2015 20:05:50 +0100
The global iron ore glut is easing with CLSA forecasting no net growth in supply in 2015 and prices seen averaging $US55 a ton in the third quarter.
http://theage.com.au/business/markets/iron-ore-extends-rebound-on-improved-supply-outlook-20150423-1ms4tg.html


Nucor Corporation (NUE) Remains Profitable in Tough Steel Market ...
Thu, 23 Apr 2015 16:11:30 +0100
Scrap steel prices have largely rebounded from the 19% decline in the quarter, but Nucor is still positioned to benefit from that drop by having purchased additional inventory in January and early February. While this is a temporary benefit, it will ...
http://www.fool.com/investing/general/2015/04/23/nucor-corporation-nue-remains-profitable-in-tough.aspx


Why Tata Steel Shares Are Up 5% Today - NDTV
Thu, 23 Apr 2015 09:00:48 +0100
Analysts say that rise in iron ore prices will be beneficial for Tata Steel as it does not buy iron ore from the open market for its domestic operations which accounts for 60 per cent of its total revenue. Tata Steel mainly uses iron ore produced from ...
http://profit.ndtv.com/news/market/article-tata-steel-jumps-5-as-iron-prices-rebound-757475


Signs of steel prices bottoming out a ray of hope for steel players ...
Thu, 23 Apr 2015 08:38:54 +0100
Goutam Chakraborty at Emkay Global says that the steel prices seem to be near the bottom and significant downside from here seems unlikely. For Indian non-integrated players, the domestic iron-ore prices declining provide further comfort. Recently ...
http://www.business-standard.com/article/companies/signs-of-steel-prices-bottoming-out-a-ray-of-hope-for-steel-players-115042300255_1.html


Weak Russian rouble pushes Severstal's Q1 margin to record high ...
Thu, 23 Apr 2015 08:23:31 +0100
The Moscow Times - Reuters UKSeverstal, Russia's second largest steel producer, and other exporters have benefited from a 50-percent decline in the rouble against the dollar since mid-2014, as their costs fell in dollar terms. Severstal said its margin on earnings before interest ...
http://uk.reuters.com/article/2015/04/23/russia-severstal-idUKL5N0XK15720150423


BHP Billiton puts the brakes on iron ore expansion - Financial Times
Thu, 23 Apr 2015 08:10:27 +0100
BHP Billiton is slowing the pace of its planned expansion in iron ore production in a bid to conserve cash as commodity prices slump and demand in China weakens. The Anglo-Australian company said on Wednesday that it was deferring spending at its main ...
http://www.ft.com/cms/s/0/49332406-e8a8-11e4-baf0-00144feab7de.html


Aust shares higher on mining gains
Thu, 23 Apr 2015 07:55:35 +0100
The Australian share market has closed higher as gains among the big miners offset losses in the financial sector. IG market analyst Stan Shamu said the roles had been reversed, with big miners performing strongly because of higher iron ore prices and financial stocks losing ground due to reduced chances of an interest rate cut. It's not what we've been seeing recently, Mr Shamu said. Among ...
http://au.finance.yahoo.com/news/aust-shares-higher-mining-gains-065535189.html


Asian markets roundup: Bourses outside Hong Kong and India rise despite ...
Thu, 23 Apr 2015 03:07:00 +0100
In Shanghai, Baotou Steel finished 2.97% higher and Shanghai Oriental Pearl Group surged 10%. In Hong Kong, casino operator Sands China finished 2.61% lower. In Mumbai, Cairn India was trading 1.76% lower at 1.58pm local time. Analysts expect the oil and ...
http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=948bc3ae920c4e8a9f0d90e14b2982bf&url=http://www.ibtimes.co.uk/asian-markets-roundup-bourses-outside-hong-kong-india-rise-despite-weak-china-data-1497926&c=ONeASZJkUhU3lp9E2UKgsgjdpVv88AoYXZcRehzkALM&mkt=en-gb


Vale Iron Expansion Trails Forecasts After Glut Sank Prices
Wed, 22 Apr 2015 09:53:00 +0100
Iron-ore output excluding its share in the Samarco Mineracao SA venture and third-party purchases rose 4.9 percent to 74.5 million metric tons in the first quarter, from 71.1 million tons a year ago, Vale said in a statement. That missed the 78.7 million ...
http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=56ac1cb6f95f46068cba2dfba9837a82&url=http://www.bloomberg.com/news/articles/2015-04-22/vale-iron-ore-output-growth-trails-forecasts-as-prices-collapse&c=gMnhIOhcdgiuJkvstGFa8SgEpnN2LbKsHvMekNAk-J4&mkt=en-gb



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