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UK business of Tata Steel continues to teeter on the brink
Mon, 02 Aug 2021 00:00:00 GMT
Tata Steel Europe (TSE) posted an operating profit in the fourth quarter (January-March) of fiscal 2021, after making losses for several quarters, due to the commodity boom. But in the UK, it is seen as dependent on funds from the government or the parent company, even as the Dutch unit is operating with more

Metal, steel stocks in focus: Key factors behind surge
Sat, 31 Jul 2021 00:00:00 GMT
Steel and metal stocks were buzzing in trade amid dovish commentary from the Federal Reserve and positive statements from ArcelorMittal. The company raised its 2021 steel consumption forecast to 7.5-8.5 percent from 4.5-5.5 percent, sending out positive signals for the global ferrous space. Traders have been waiting an official announcement on a possible export duty on steel exports that China talked about earlier this week. According to JPMorgan, this will be positive for the Indian steel

Buy SAIL, target price Rs 149: ICICI Direct
Sat, 31 Jul 2021 00:00:00 GMT
STEEL AUTHORITY OF INDIA LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/08/2021 ,inter alia, to consider and approve and take on record the Unaudited Standalone and Consolidated Financial Results of the Company for the Quarter ended 30th June,

Vale (VALE) Q2 Earnings Beat, Rise Y/Y on High Iron Prices
Fri, 30 Jul 2021 00:00:00 GMT
Vale (VALE) reports stellar second-quarter 2021 earnings on higher iron ore sales volumes and prices. It maintains its iron-ore production guidance of 315-335 million tons for

U.S. Steel (X) Tops Earnings and Revenue Estimates in Q2
Fri, 30 Jul 2021 00:00:00 GMT
U.S. Steel (X) benefits from strong steel shipments and higher prices in the second quarter.

Iron ore slumps on subdued China demand outlook for second half
Fri, 30 Jul 2021 00:00:00 GMT
Iron ore futures in Asia fell on Thursday, pressured by the prospects of a slowdown in demand for the steelmaking ingredient in top buyer China, and despite tempered shipment expectations from its biggest producer, Rio Tinto. The most-traded iron ore for September delivery on Chinas Dalian Commodity Exchange slumped 2.5% to 1,105 yuan ($170.67) a tonne by midday break, extending losses into a third straight session. Iron ores most-active September contract on the Singapore Exchange shed

ArcelorMittal buys Spanish tubemaker Condesa Tubos
Fri, 30 Jul 2021 00:00:00 GMT
ArcelorMittal says ithas signed a binding agreement with Condesa Tubos for the acquisition of the 67% shareholding it does not own in the Spanish welded xxx from the steelmaking giant. ArcelorMittal has hada 33%participation in the companysince February 2016, as a result of its restructuring within the framework of the so-called Phoenix Project. The

Australia's Fortescue teams up with India's JSW Energy for hydrogen ...
Thu, 29 Jul 2021 08:58:04 GMT
Fortescue Future Industries (FFI) has signed the agreement with JSW Future Energy for collaborating on hydrogen mobility, green ammonia and their industrial applications in India. FFI has been criss-crossing the globe signing framework agreements for renewable energy projects but has come under fire from analysts for providing little detail on how its projects would be

Teck Resources' (TECK) Earnings Beat Estimates in Q2, Up Y/Y
Thu, 29 Jul 2021 00:00:00 GMT
Teck Resources' (TECK) second-quarter results gain from higher copper and steelmaking coal prices.

Steel price differentials between East and West soar to record ...
Thu, 29 Jul 2021 00:00:00 GMT
The gap in steel prices between Eastern and Western countries has reached an all-time high. The pace of growth in US transaction values appears to be slowing, partly as demand traditionally wanes during the summer period. However, a cooling in prices is also occurring in Asia. Consequently, the differential between transaction values in the two regions is expected to expand in the coming months. Import volumes into the US have been steadily rising throughout 2021. Nevertheless, this has been

Brazil steelmaker CSN posts $1 bln profit on higher prices
Thu, 29 Jul 2021 00:00:00 GMT
Brazilian steelmaker Companhia Siderurgica Nacional CSNA3.SA posted a net income of 5.5 billion reais ($1.06 billion) in the second quarter, significantly higher than a year ago driven by higher iron ore prices, the company said. CSN said steel and iron ore sales by tonne grew by 28% and 18% respectively compared to a year ago. Still, the higher prices led profits to rise by over 1,000% in the same period. Source: Reuters - (Reporting by Marcelo Rochabrun; Editing by Sandra

Rio Tinto posts record half-year earnings on iron ore surge
Wed, 28 Jul 2021 00:00:00 GMT
Rio Tinto logged a record first half performance on Wednesday, underpinned by soaring iron ore prices on strong demand from China, which led the global miner to pay out a bonanza of $9.1 billion in dividends. Rios half-year underlying earnings more than doubled from a year earlier as a massive infrastructure push by China, the worlds top iron ore consumer, and supply problems in Brazil drove prices of the steel-making commodity to record highs earlier this year. Its an amazing result,

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