Steel industry news from South America.

Brazils Vale revises down year-end iron ore output
Sat, 31 Jul 2021 00:00:00 GMT
Vale SA flagged potential production setbacks amid temporary issues at multiple iron ore mines, but executives said the Brazilian miner was still on track to ramp up output in the second half of the year. In a presentation released on Thursday morning, the worlds second largest iron ore producer revised down its guidance for year-end production capacity to 343 million tonnes per annum from 350 million tonnes previously. Among the issues holding back production, Vale said, are licensing


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


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


Latam steelmakers push for firm decarbonization agenda after ...
Mon, 26 Jul 2021 00:00:00 GMT
Latin American steel producers are evaluating decarbonization strategies to embark on a more declaratory sustainable agenda after decades of just making plans, the new executive director for the regional steel association, Alacero, said. Greater use of ferrous scrap, biomass and renewable sources are key for the regional steel decarbonization push. But clear and specific regulations and support from governments are just as important, Alejandro Wagner told S&P Global Platts in an


South African steel market demonstrates resilience
Wed, 07 Jul 2021 00:00:00 GMT
Despite several headwinds, the South African steel market has shown remarkable resilience during these challenging times. Order backlogs are still prevalent for most steel products, but they have significantly reduced over the past quarter. Steel prices were rolled over from June into July. This gives buyers a temporary reprieve and allows them to refocus on managing their stock levels. The signing of the Steel Master Plan 1.0 on June 11 signalled a united front by steel stakeholders to


Vale (VALE) to Spend $121M to Extend Life of Thompson Mine
Wed, 30 Jun 2021 00:00:00 GMT
Vale S.A (VALE) is investing C$150 million ($121 million) in Thompson, Manitoba operations, the largest single investment made by the company in the past two


Iron Ore Price Caves But Miners Remain Hugely Profitable, For ...
Tue, 25 May 2021 00:00:00 GMT
Chinese Government pressure on steel mills and commodity traders started to pay off earlier today when the iron price fell below $200 a ton for the first time in three weeks. But the fall to $197/t is unlikely to put more than a dent in the profits of the biggest iron ore miners which are producing the steel-making material at a cash cost of less than $20/t. Even after allowing for all costs companies such as BHP Group, Rio Tinto, Vale and Fortescue Metals, are still generating profits of


Brazilian steel industry has yet to adjust supply to demand
Thu, 13 May 2021 00:00:00 GMT
Monthly figures released by industry institute Ao Brasil show that domestic steel demand has been surpassing supply since mid-2020, substantiating buy-side complaints of difficult delivery processes during the second half of that year and 2021s first quarter. Distributors and end-users started to note the extended lead times in July 2020, following that years coronavirus pandemic peak in Brazil and then the resumption of economic activities. Brazil rolled steel domestic apparent


Vale reports record Q1 as iron ore, copper prices soar in tight ...
Thu, 29 Apr 2021 00:00:00 GMT
Brazilian miner Vale, one of the worlds largest iron ore producers and a major copper producer, reported record first quarter financial results late April 26 as prices for these commodities soared, partly due to supply-side issues. The company said it continues to stabilize output following dam disasters that resulted in lower iron ore production in recent years and the continuing impact of COVID-19 on its operations, now seen reducing copper output. In Q1, Vale reported a pro forma


Vale (VALE) Q1 Earnings Beat, Up Y/Y on High Iron Prices
Tue, 27 Apr 2021 00:00:00 GMT
Vale (VALE) reported stellar first-quarter 2021 earnings due to higher commodity prices, particularly iron.


Vale's (VALE) Lackluster Q1 Production Boosts Iron Ore Prices
Tue, 20 Apr 2021 15:41:03 GMT
Vale's (VALE) first-quarter 2021 iron ore production increases 14% year over year as it continues its operational stabilization and resumption plan. Yet, the figure misses


BAMIN wins bid to operate FIOL railway, a boost to ERGs iron ...
Sat, 10 Apr 2021 00:00:00 GMT
Eurasian Resources Group (ERG or the Group), a leading diversified natural resources producer, and its wholly-owned Brazilian subsidiary BAMIN, today announced that BAMIN has won the auction on the Bovespa (So Paulo Stock Exchange) to complete and operate the first 537 km stretch (FIOL Stage 1) of the FIOL (East-West Integration) railway. FIOL will provide a high capacity and low cost link between ERGs Pedra de Ferro mine in Caetite and its Porto Sul port in Ilhus, Bahia state. The



Number of South American industry news reports: 12
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