Steel Industry News


AK Steel is Near a Key Support Area - TradersHuddle.com
Wed, 16 May 2012 12:14:02 +0100
New York, May 16th (TradersHuddle.com) - Shares of AK Steel Holding Corporation (NYSE:AKS) are trading very close to calculated support at $6.67 with price action closing at just $6.79 and placing the stock near levels where traders will start paying attention.


China Precision Steel Announces Third Quarter ...
Wed, 16 May 2012 11:02:27 +0100
Subsequently, the softening steel demand resulted in steel prices sharply dropping 10.2% from the second quarter of fiscal year 2012. Our revenue for the quarter was also impacted by the Chinese New Year holiday which shortened the quarter's ...


Reliance Steel and Aluminum (RS) Showing Support ...
Wed, 16 May 2012 10:26:40 +0100
For a hedged play on Reliance Steel and Aluminum (RS), look at the Sep '12 $50.00 covered call for a net debit in the $46.06 area. That is also the break-even stock price for this trade. This covered call has a duration of 129 days, provides 10.49% ...


Revenue down at New World Resources
Wed, 16 May 2012 09:12:20 +0100
Central European coal miner New World Resources (NWR) was hit by falling revenues from thermal coal and coke in the first quarter.


Pakistani steel sector seeks uniform duty on ...
Wed, 16 May 2012 05:33:11 +0100
... reported that steel sector seeks a 20% uniform customs duty on import of steel products to curtail miss declaration and save the domestic industry from international price volatility. Market sources said that usually different countries of the world ...


AK Steel responds over opinion on pay vote
Wed, 16 May 2012 04:28:25 +0100
ISS Proxy Advisory Services recommended that AK Steel shareholders vote against the company's 2011 executive pay package, and the West Chester-based steel producer is fighting back.


Steel Partners Holdings L.P. Reports First Quarter ...
Tue, 15 May 2012 22:32:00 +0100
NEW YORK, May 15, 2012 /PRNewswire/ -- Steel Partners Holdings L.P. (NYSE: SPLP) (SPH or the Company) reported revenue of $186.0 million for the period ending March 31, 2012 as compared to $175.1 million for the same period of 2011. Net income attributable to the Company's common...


Arch Western Finance, LLC Completes Consent ...
Tue, 15 May 2012 22:00:00 +0100
ST. LOUIS, May 15, 2012 /PRNewswire/ -- Arch Coal, Inc. (NYSE: ACI) today announced that Arch Western Finance, LLC (Arch Western Finance), its indirect subsidiary, successfully completed its consent solicitation with respect to its 6 3/4% Senior Notes due 2013 (CUSIP Nos. 03939RAB6,...


Empire Resources Reports First Quarter 2012 ...
Tue, 15 May 2012 22:00:00 +0100
FORT LEE, N.J., May 15, 2012 /PRNewswire/ -- Empire Resources, Inc. (OTCQX: ERSO), a distributor of value added, semi-finished metal products, announced today that net sales for the first quarter of 2012 were $145.6 million, an increase of 28% from the first quarter of...


Iron & steel dominates the market for ...
Tue, 15 May 2012 19:15:29 +0100
As a result, iron content in auto manufacturing decreased considerably. Pricing volatility of metals and alloys such as steel, chromium, molybdenum, nickel and tungsten compelled the use of coated-steels and alloys for stamping operations. This report ...


Insteel Industries Declares Quarterly Cash Dividend
Tue, 15 May 2012 19:00:00 +0100
PR Newswire - MOUNT AIRY, N.C., May 15, 2012 /PRNewswire/ -- Insteel Industries, Inc. (IIIN) today announced that its board of directors declared a quarterly cash dividend of $0.03 per share on the Company's ...


JMC Steel Group Builds New Canadian Sales Team ...
Tue, 15 May 2012 17:35:43 +0100
CHICAGO -- JMC Steel Group Inc. ("JMC") confirmed today the sales structure and representatives for Picoma Industries electrical conduit fittings in the Canadian provinces. Picoma, a leading ...


-Wanted -- iron ore traders
Tue, 15 May 2012 16:05:42 +0100
* Spot market, derivatives growth brings new players * Spot market up to 20 pct of seaborne trade * Basic salary of $400,000 * FACTBOX-Iron ore: Who is doing what By Silvia Antonioli and Jacqueline Cowhig ...


Lower rate of Chinese iron ore demand growth ...
Tue, 15 May 2012 15:24:00 +0100
A lower rate of growth was on the way in the demand from China for global seaborne iron ore, BHP Billiton CEO Marius Kloppers said on Tuesday.While BHP Billiton continued to expect Chinese crude steel production to reach 1.1-billion tons a year by 2025, Kloppers emphasised than this equated to a lower 650-million tons a year rate of growth in the demand for global seaborne iron ore than the 800-million tons a year that had been experienced in the last ten years.


Six remain trapped in colliery flooding in central ...
Tue, 15 May 2012 10:41:00 +0100
Rescuers prepare to conduct rescue mission after a coal mine was flooded in Shilong district of Pingdingshan city, central China's Henan province, April 15, 2012. At least five people were ...


Sri Lanka cracks down on illegally working foreigners
Tue, 15 May 2012 09:24:00 +0100
COLOMBO, May 15 (Xinhua) -- Sri Lanka is cracking down on foreigners working illegally and have requested for public assistance after an Indian national died while working in a local steel plant, an ...