Steel Producers



  • PARIS, Aug 1- European stocks fell on Friday for the third straight session in brisk trade, with a broad index hitting a 3-1/ 2 month low as tension between Russia and the West as well as concerns around losses at Banco Espirito Santo gnawed at sentiment.

  • *Cuts outlook to more than $7 bln from about $8 bln before. *Iron ore price assumption cut to $105/ tonne from $120. BRUSSELS, Aug 1- ArcelorMittal SA, the world's largest steelmaker, cut its forecast for earnings this year after lower than anticipated iron ore prices ate into the profit of its mining business, sending its shares down some 6 percent.

  • *FTSEurofirst 300 down 0.4 pct, Euro STOXX 50 down 0.3 pct. *Gloomy outlook at Arcelor, Vinci also weigh. The euro zone Euro STOXX 50 index was down 0.3 percent at 3,106.17 points.

  • Steelmaker ArcelorMittal sees US, Europe improving Friday, 1 Aug 2014 | 2:34 AM ET

    AMSTERDAM— ArcelorMittal, the world's largest steelmaker, says it swung to a profit in the second quarter on higher steel shipments and better margins, and it sees improving markets in the United States and Europe. The Luxembourg- based company reported net profit of $52 million, from a loss of $205 million in the same period a year ago.

  • AP Top Financial News At 2:34 a.m. EDT Friday, 1 Aug 2014 | 2:34 AM ET

    Steelmaker ArcelorMittal sees US, Europe improving GM boosted June sales with discounts to dealers Asia stocks dip on Dow drop, China data cuts loss Solid US job gains expected for 6th straight month Survey: China manufacturing at 27- month high Facebook's Internet.org expands in Zambia Default fuels uncertainty, stock drop in Argentina Iliad of France makes surprise bid for T-Mobile US Tesla posts 2 Q loss, prepares Nevada factory site Twitter: Govt. requests for user data increased

  • SYDNEY, Aug 1- London copper was underpinned on Friday by expanding factory activity in China that heralded a rosier outlook for demand, soothing nerves after an overnight rout on Wall Street.

  • *Klesch buys Milford Haven refinery from Murphy Oil. LONDON, July 31- U.S. entrepreneur Gary Klesch is buying the Milford Haven oil refinery on the coast of Wales, safeguarding around 450 jobs and betting an ailing European refining industry can only move up.

  • MOSCOW, July 31- Russian stock indexes erased early gains on Thursday, falling into the red by evening, as global markets declined and Russia waited to see details of further European Union sanctions over the conflict in Ukraine.

  • Twitter and DreamWorks are big market movers Wednesday, 30 Jul 2014 | 4:30 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Twitter Inc., up $7.71 to $46.30. United States Steel Corp., up $5.36 to $33.03.

  • *Eramet says Norilsk would sell to Asia if targeted by West. PARIS, July 30- An embargo against Norilsk Nickel as part of Western sanctions against Russia would hurt nickel users in Europe and the United States rather than Norilsk itself, the head of French mining group Eramet said.

  • *Mozambique bets on India's growing demand for coal. LONDON, July 30- Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector.

  • China's local GDP data points to recovery, rebalancing Wednesday, 30 Jul 2014 | 2:26 AM ET

    BEIJING, July 30- China's regional economies enjoyed a revival in growth in the second quarter, data from provincial governments showed, chiming with earlier figures that suggest a burst of government stimulus measures is re-invigorating activity. Growth also diverged sharply between eastern and western China.

  • July 29- United States Steel Corp reported a narrower second-quarter loss on Tuesday as steel prices improved, but the impact of bad weather, higher repairs and maintenance costs continued to weigh on earnings. Net loss narrowed to $18 million, or 12 cents a share, in the three months to end-June from $78 million, or 54 cents, a year earlier.

  • AK Steel posts smaller 2Q loss Tuesday, 29 Jul 2014 | 12:25 PM ET

    WEST CHESTER, Ohio— AK Steel Holding Corp. on Tuesday reported a smaller loss in its second quarter, and topped analysts' expectations. The West Chester, Ohio- based company posted a loss of $17.1 million, or 13 cents per share, compared with a loss of $40.4 million, or 30 cents per share, in the same quarter a year earlier.

  • *Second-quarter adj. profit 2 cents/ shr vs est loss 4 cents/ shr. July 29- AK Steel Holding Corp reported a surprise quarterly profit as prices rose and it shipped more steel, sending its shares up nearly 8 percent to their highest in two years.

  • July 29- AK Steel Holding Corp reported a surprise adjusted profit for the second quarter as shipments rose. Steel prices in North America are near two-year highs, helped by firm U.S. economic growth. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the second quarter, from $40.4 million, or 30 cents per share, a year earlier.

  • AK Steel's loss narrows as shipments rise Tuesday, 29 Jul 2014 | 8:39 AM ET

    July 29- U.S. steelmaker AK Steel Holding Corp reported a smaller second-quarter loss, helped by higher shipments. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the quarter ended June 30, from $40.4 million, or 30 cents per share, a year earlier. Net sales rose 9 percent to $1.53 billion.

  • Finland's Outokumpu trims quarterly loss on cost cuts Thursday, 24 Jul 2014 | 2:11 AM ET

    HELSINKI, July 24- Finnish stainless steel maker Outokumpu on Thursday reported a smaller-than-expected underlying loss in the second quarter, helped by cost-cuts, but forecast a slighty bigger loss for the third quarter. Outokumpu trimmed its underlying operating loss to 6 million euros from 87 million euros in the same quarter a year earlier.

  • NEW YORK, July 22- Egypt's steel companies have filed a petition against rebar and wire rod imports from China, Turkey and Ukraine, one of its top steelmakers said on Tuesday, the latest move in a years-long quest to protect the fledging industry from low-priced imports. "How can rebar and wire rod enter Egypt with zero customs?