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Economic News

Economic steel sector headlines and reports


GRAPHIC-China steel mills cut back on high-grade iron ore as ...
Mon, 13 Jan 2020 22:07:00 GMT
China's appetite for high-grade iron ore this winter looks set to drop from the peaks hit in recent years as steel mills try to cut costs and prop up profit margins weighed down by the nation's
https://www.nasdaq.com/articles/graphic-china-steel-mills-cut-back-on-high-grade-iron-ore-as-margins-slump-2020-01-14&c=17128481905691302134&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


SEAISI Press Release
Thu, 09 Jan 2020 00:00:00 GMT
China's steel production likely to grow by 4-5% this year: analyst
http://www.seaisi.org/news_details.php?nid=9490


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


Ezz Steel records $261.87mln losses in 9M 2019 as demand decreases
Sun, 05 Jan 2020 23:03:00 GMT
Ezz Steels total profits also decreased to EGP 528.6m, compared to EGP 4.64bn in the comparison period The consolidated financial statements of Ezz Steel showed a net loss of over EGP 4bn in the
https://www.zawya.com/mena/en/markets/story/Ezz_Steel_records_26187mln_losses_in_9M_2019_as_demand_decreases-SNG_163826027/&c=4878775430811239186&mkt=en-gb


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


MIDEAST STOCKS-Banks hold back Saudi, Egypt rebounds on lender ...
Sun, 29 Dec 2019 08:00:00 GMT
Eight of 11 Saudi banks drop * Riyad Bank announces a higher H2 dividend * Eshraq dips after cancelling capital decrease * Ezz Steel falls on posting 9-month loss By Ateeq Shariff Dec 30 Reuters -
https://af.reuters.com/article/egyptMarketNews/idAFL8N294245&c=13245376904080763481&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


Govt says $255m ZimCoke deal still on but Zisco board chair disagrees
Thu, 19 Dec 2019 18:40:00 GMT
Government has said that the $255 million ZimCoke deal is still on as it has not yet received any formal communication from the Zimbabwe Iron and Steel Company (Ziscosteel) board requesting for
https://nehandaradio.com/2019/12/20/govt-says-255m-zimcoke-deal-still-on-but-ziscosteel-board-chair-disagrees/&c=13416879481871334466&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


Kudlow Says No Decision on Brazil, Argentina Steel Tariffs
Tue, 10 Dec 2019 11:39:51 GMT
Donald Trumps top economic adviser said Tuesday the administration hasnt made a decision about re-imposing steel tariffs on Brazil and Argentina, even though the president said last week the duties
https://www.msn.com/en-us/money/markets/kudlow-says-no-decision-on-brazil-argentina-steel-tariffs/ar-BBY2h6k&c=6984690686810361997&mkt=en-gb


U.S. Steel Imports Down YTD: Are Tariffs Really Helping
Tue, 03 Dec 2019 00:00:00 GMT
Despite the benefits of steel tariffs, shares of most U.S. steel companies remain subdued this year as weak demand and prices hurt their
https://www.zacks.com/stock/news/652275/US-Steel-Imports-Down-YTD-Are-Tariffs-Really-Helping


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


Do Downbeat Views Point to a Tough Q3 for US Steel Stocks
Thu, 19 Sep 2019 00:00:00 GMT
Disappointing guidance from some of the major U.S. steel makers has raised worries about a possible weak Q3 earnings season for the U.S. steel
https://www.zacks.com/stock/news/525932/Do-Downbeat-Views-Point-to-a-Tough-Q3-for-US-Steel-Stocks


Number of news reports: 20




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