ArcelorMittal sees Q3 drop, mulls stainless split

Thu, 29 Jul 2010 01:52:00 GMT
ArcelorMittal (ISPA.AS), the world's largest steelmaker, forecast a sharp fall in earnings in the third quarter due a slowdown in China, the normal summer lull and higher raw material costs. The co...
Tags: Ferro ChromeSteel

US Steel announces Q2 2010 results

Thu, 29 Jul 2010 01:33:00 GMT
United States Steel Corporation has reported a second quarter 2010 net loss of USD 25 million. These results reflect a considerable improvement over the net losses of USD 157 million in the first q...
Tags: Steel

Chinese mills profit from strong prices in H1

Thu, 29 Jul 2010 01:27:00 GMT
More Chinese mills are reporting that their first-half 2010 profits benefitted from steel price increases and improved sales in early second quarter. Guangzhou Iron Steel (Guanggang), in southern C...
Tags: Steel

ArcelorMittal proposes to spin off stainless business

Thu, 29 Jul 2010 01:24:00 GMT
Global steelmaker ArcelorMittal is assessing a proposal to spin off its stainless steel business. The proposal could be approved by ArcelorMittal’s board “some time towards the end of t...
Tags: Chrome OreFerro ChromeSteel

Brazil's H1 steel output grows 55%

Thu, 29 Jul 2010 01:21:00 GMT
Brazil had strong steel output during the first half this year on the back of improved market conditions. It is learnt from Brazilian steel institute IABr that H1 output reached 16.4m tonnes, again...
Tags: Steel

Brazil's steel imports jump in H1

Thu, 29 Jul 2010 01:19:00 GMT
Brazilian steel group IABr is concerned about steel import levels and is urging measures to curb these shipments. It is learntfrom IABr chairman André Gerdau Johannpeter that “imports ...
Tags: Steel

LME and SGX launch futures contracts for Asia

Thu, 29 Jul 2010 01:18:00 GMT
The London Metal Exchange and Singapore Exchange SGX are jointly introducing cash-settled futures for steel billet and non-ferrous metals. Copper and zinc futures are expected to be launched in the...
Tags: None

Major-mill output continues to drop: CISA data

Thu, 29 Jul 2010 01:16:00 GMT
The 77 member mills of the China Iron Steel Association (CISA) produced a total of 13.46m tonnes of raw steel in the second ten days of July. This was equivalent to 1.35m tonnes/day, down 3% from t...
Tags: Steel

China steel rebound signals bottoming of shipping rates

Wed, 28 Jul 2010 05:37:00 GMT
The smallest profits in the commodity shipping market in 18 months may be ending as a rebound in steel and iron ore prices signal improving Chinese demand that will ease the transport glut. Deutsch...
Tags: Steel

CISA: 77 steel enterprises' profit shank by 40% within June

Wed, 28 Jul 2010 03:13:00 GMT
According to CISA’s (China IronSteel Assciation) investigation on 77 steel enterprises, the total production profit shrank by 40% month-on-month to 6.25 billion Yuan in June caused by the con...
Tags: Steel