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Economic steel sector headlines and reports


Chinese steel mills may cut production due to oversupply: Paul ...
Wed, 19 Feb 2020 16:21:00 GMT
Brazil also has some heavy rains as well. That has impacted supply and that is one of the reasons iron ore prices seem very high at the moment. It is just under $90 a ton and considering what is going
https://economictimes.indiatimes.com/markets/expert-view/chinese-mills-may-cut-production-due-to-oversupply-paul-bartholomew-sp-global-platts/articleshow/74207738.cms&c=3651285133600157194&mkt=en-gb


Fortescue profit spikes on iron ore price jump, but dividend ...
Wed, 19 Feb 2020 00:00:00 GMT
Australias Fortescue Metals Group Ltd (FMG.AX) reported a near four-fold jump in half-year profit on Wednesday as it cashed in on higher iron ore prices, while analysts said a lower-than-expected dividend reflected caution on the global economy. Fortescue is the second of the global iron ore giants to report results this season, and also the second to offer lower than anticipated payouts which analysts said reflected a move to keep cash in reserve given uncertainties over global economic
https://www.hellenicshippingnews.com/fortescue-profit-spikes-on-iron-ore-price-jump-but-dividend-seen-conservative/


BHP First-Half Profit Rises; Dividend Lifted
Mon, 17 Feb 2020 23:06:00 GMT
BHP Group reported a 29% rise in half-year net profit and lifted its dividend, after strong prices of iron ore more than offset weakness among almost all other commodities that it
https://www.wsj.com/articles/bhp-first-half-profit-rises-dividend-lifted-11581976561&c=14082804631173168741&mkt=en-gb


Brazil steelmaker Usiminas' profits slide, hitting shares
Fri, 14 Feb 2020 16:19:00 GMT
Brazilian steelmaker Usiminas SA on Friday posted a one-third drop in quarterly net profit driven by higher costs and poor results in its steel business unit, sending its shares down nearly 5%. In a
https://www.reuters.com/article/usiminas-results/update-2-brazil-steelmaker-usiminas-profits-slide-hitting-shares-idUSL1N2AE0BC&c=2123824043014669991&mkt=en-gb


Steel becomes new problem child as Thyssenkrupp posts profit ...
Thu, 13 Feb 2020 08:22:03 GMT
By Christoph Steitz and Tom Kckenhoff FRANKFURT/DUESSELDORF, Germany Reuters - Thyssenkrupp's steel division swung to a loss in the first quarter, raising doubts over
http://uk.investing.com/news/stock-market-news/thyssenkrupps-first-quarter-profit-drops-as-steel-becomes-new-problem-child-2051040


Brazil struggles may prolong Australias iron ore boom
Mon, 27 Jan 2020 00:00:00 GMT
Australian miners and Treasury boffins could be enjoying strong iron ore prices for longer than expected, amid growing signals that Brazilian miner Vale has made a weak start to the year. Vale said last year that it would make a slow start to 2020, shipping 70 million to 75 million tonnes in the three months to March 31 before accelerating to produce between 340 million and 355 million tonnes in the year. But sources with access to Brazilian port data suggest Vales output has been weaker
https://www.hellenicshippingnews.com/brazil-struggles-may-prolong-australias-iron-ore-boom/


RPT-COLUMN-China virus outbreak a further risk to iron ore, steel ...
Thu, 23 Jan 2020 05:09:00 GMT
Both iron ore and steel enjoyed a robust 2019. Iron ore prices reached a five-year high after supply was reduced in the first half because of mine closures in Brazil in the wake of a fatal dam
https://uk.reuters.com/article/column-russell-ironore-china/rpt-column-china-virus-outbreak-a-further-risk-to-iron-ore-steel-outlook-russell-idUKL4N29S10T&c=11168030514272970865&mkt=en-gb


Official: Iran to Export 10mln Tons of Steel by Yearend
Thu, 23 Jan 2020 04:09:00 GMT
A major global producer and exporter of steel, Iran has sought to increase output despite economic woes that have affected downstream sections of the industry. IMIDRO announced in September that
https://en.farsnews.com/newstext.aspx%3fnn%3d13981103000532&c=13907372870984006293&mkt=en-gb


Arcelor Mittal's Essar Steel buy may not severely hit other players
Thu, 09 Jan 2020 00:00:00 GMT
Arcelor Mittals debut in steel industry through acquisition of Essar Steel will raise the competition in the domestic steel sector. Nevertheless there is still headroom for steel companies to increase capacities with consumption demand tipped to grow at 6-7%. Ind-Ra said continued regulatory support is critical to protect local steel players against the threat of
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/arcelor-mittals-essar-steel-buy-may-not-severely-hit-other-players/articleshow/73165102.cms


5 Solid Steel Stocks to Buy As Industry Eyes Recovery in 2020
Wed, 08 Jan 2020 00:00:00 GMT
As the steel industry looks poised for a rebound this year after a gloomy 2019, it would be prudent to invest in steel stocks that have compelling
https://www.zacks.com/stock/news/707814/5-Solid-Steel-Stocks-to-Buy-As-Industry-Eyes-Recovery-in-2020


Bearish outlook for 2020 world steel prices
Thu, 02 Jan 2020 09:00:00 GMT
Analysts consider that year 2020 steel prices will remain close to 2019 price levels, with perhaps a small price recovery in 2021; but with no notable pricing improvement until the next peak in the steel cycle which can be expected at
https://www.steelonthenet.com/market-outlook.html


Ezz Steel incurs loss in 9 months unaudited standalone financials
Mon, 30 Dec 2019 04:19:00 GMT
Cairo Mubasher: Ezz Steel announced succumbing to losses during the first nine months of 2019, the companys unaudited standalone financial results showed. The steel manufacturer suffered net losses
https://www.zawya.com/mena/en/markets/story/Ezz_Steel_incurs_loss_in_9_months_unaudited_standalone_financials-SNG_163413054/&c=755895431128211897&mkt=en-gb


Al Ezz Dekheila Steel turns to loss in 9 month unaudited standalone ...
Mon, 23 Dec 2019 02:00:00 GMT
Cairo Mubasher: The unaudited standalone financial results of Al Ezz Dekheila Steel Alexandria showed a turn to losses during the first nine months of 2019. The company incurred net losses of EGP
https://www.zawya.com/mena/en/markets/story/Al_Ezz_Dekheila_Steel_turns_to_loss_in_9_month_unaudited_standalone_financials-SNG_162902096/&c=11830924810964180865&mkt=en-gb


Nippon Steel & Sumitomo Metal Corporation - Press Release
Tue, 17 Dec 2019 09:01:29 GMT
ArcelorMittal and N ippon Steel Complete Joint Acquisition of Essar ...
https://www.nipponsteel.com/common/secure/en/news/20191216_400.pdf


A Tough Year for Steel Stocks: Will 2020 Bring Good Tidings
Tue, 17 Dec 2019 00:00:00 GMT
A recovery in steel prices and easing U.S.-China trade tensions are likely provide a respite to American steel makers next
https://www.zacks.com/stock/news/674836/A-Tough-Year-for-Steel-Stocks-Will-2020-Bring-Good-Tidings


SEAISI Press Release
Tue, 17 Dec 2019 00:00:00 GMT
ArcelorMittal says it has completed acquisition of Essar Steel
http://www.seaisi.org/news_details.php?nid=9426


Dammed Good Questions about the Green New Deal
Mon, 16 Dec 2019 10:28:00 GMT
As Donald Worster wrote in Rivers of Empire: Steel penstocks structures that carry water from the forebay tunnel to ... As part of the Harness the Huai River campaign, the dam in Chinas Henan
https://medium.com/local-futures-economics-of-happiness/dammed-good-questions-about-the-green-new-deal-8c43a8896923&c=7106901492509408420&mkt=en-gb


Benteler to close Bottrop tube plant
Mon, 16 Dec 2019 00:00:00 GMT
Benteler says it plans to close its Bottrop welded tube plant in 2022. The firm has provided details of its plan announced in November for a restructuring and associated job cuts at its Steel/Tube division. Bottrop capacities will be gradually reduced from 2020. Most production will be successively transferred to Schloss Neuhaus and Paderborn.
http://eurometal.net/benteler-to-close-bottrop-tube-plant/


ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel ...
Sat, 14 Dec 2019 00:00:00 GMT
ArcelorMittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore.
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/arcelormittal-initiates-rs-42000-cr-payment-for-essar-steel-acquisition/articleshow/72587104.cms


Arcelor entry will energise India's steel sector: Pradhan
Fri, 22 Nov 2019 00:00:00 GMT
ArcelorMittal, the world's biggest producer of the alloy, is entering India at a time when the sector is going through a lean phase, facing a demand slump. Other steelmakers shared Pradhans sentiments about ArcelorMittals entry into India. ArcelorMittals presence will bring in new technology, and have a longer-term impact on prices and the steel product
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/arcelor-entry-will-energise-indias-steel-sector-pradhan/articleshow/72179626.cms


Number of news reports: 20




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