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Steel Producers

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  • Jan 27- Nucor Corp, the No. 1 U.S. steelmaker by market capitalization, reported a 23 percent rise in quarterly profit as it increased production and shipments grew 2 percent. Net profit attributable to Nucor rose to $210 million, or 65 cents per share, for the fourth quarter ended Dec. 31 from $170 million, or 53 cents per share, a year earlier. Sales increased 2.2 percent...

  • AK Steel tops Street 4Q forecasts Tuesday, 27 Jan 2015 | 8:42 AM ET

    WEST CHESTER, Ohio _ AK Steel Holding Corp. on Tuesday reported fourth-quarter profit of $13.5 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share. Analysts expected $1.92 billion, according to Zacks.

  • Why iron ore won’t rebound any time soon Monday, 26 Jan 2015 | 10:53 PM ET
    Rail cars laden with iron ore arrive at the receiving facility at Fortescue Metals' Herb Elliott Port in Western Australia.

    Economists may teach that low prices and declining demand encourage producers to decrease supply, but the iron ore industry may have skipped class that day.

  • HOUSTON, Jan 26- The United Steelworkers union signaled on Monday a strike by U.S. refinery workers may be necessary to win what it calls a fair contract from oil companies. Royal Dutch Shell Plc is leading the talks on behalf of companies ranging from supermajors such as Exxon Mobil Corp and BP Plc to smaller companies such as HollyFrontier Corp and Delek.

  • HOUSTON, Jan 26- Representatives of the United Steelworkers union and oil companies have completed six days of talks as of Monday for a new national contract that will cover hourly workers at 63 U.S. refineries that account for 64 percent of national refining capacity. The current national contract expires at 12:01 a.m. local time on Feb. 1.

  • SHANGHAI, Jan 26- Iron ore prices hit their lowest in 5-1/ 2 years on Monday despite some loss-making Chinese steel mills curbing output, as ore supplies remained abundant and as concerns persisted about the outlook for economic growth in China this year. The benchmark 62 percent grade iron ore for immediate delivery to China fell 3.9 percent to $63.30 a tonne to...

  • *Copper on track for 2 percent fall this week. *Premiums for bonded nickel in China surge. LONDON, Jan 23- Copper fell on Friday, and was on track for its sixth week of falls after failing to post a convincing rebound from last week's 5-1/ 2 year low, weighed by concerns about the outlook for demand from top consumer China.

  • Chinese steel producers, including the biggest private mill Jiangsu Shagang Group, state-owned Wuhan Iron& Steel Group and Hebei province-based Tangshan Iron& Steel, are scheduling maintenance on some facilities, according to industry consultancy Custeel. "The difference this year is that in order to trim production, many mills in northern China have...

  • LONDON, Jan 22- Global crude steel production rose 1.2 percent to 1.662 billion tonnes in 2014, compared with the previous year, figures from the World Steel Association showed on Thursday. Crude steel output in China, the world's top producer and consumer of the alloy, rose 0.9 percent to 822.7 million tonnes, the data showed. The European Union recorded an...

  • METALS-Copper edges lower, ECB policy meeting in focus Wednesday, 21 Jan 2015 | 5:48 AM ET

    *Copper down 10 pct in year-to-date. LONDON, Jan 21- Copper prices dipped on Wednesday, under pressure from the uncertain outlook for demand from top consumer China, with investors also eyeing the outcome of this week's European Central Bank policy meeting for signs of stimulus measures. The European economy is "on the brink of deflating" and urgently needs more...

  • *Bonded China nickel premiums up $10 to $85, highest since June. MELBOURNE, Jan 21- London copper edged down on Wednesday, but was still above last week's 5-1/ 2- year low, with trade seen quiet until the outcome of this week's European Central Bank policy meeting on Thursday. China's economy grew at its slowest pace in 24 years in 2014 as property prices cooled and...

  • SHANGHAI, Jan 20- China's steel production grew at it slowest rate in more than two decades in 2014 as a cooling economy in the world's largest producer curbed demand and the government moved to tackle overcapacity and pollution. The low growth rate suggests China's authorities have had some success in efforts to lower production and close polluting plants,...

  • LAUNCESTON, Australia, Jan 20- The important thing from China's economic deluge isn't that fourth quarter growth was slightly higher than expected, or even that growth over the whole of 2014 was the weakest in 24 years. What really matters is that 2014 provided the template for what China's economy is going to look like in the next decade. There will be those who...

  • SHANGHAI, Jan 20- China's December crude steel output rose from the previous month, government data showed on Tuesday, as steel mills resumed production after enforced cuts in northern regions. Steel output in the world's largest producer jumped 7.6 percent to 68.09 million tonnes, the highest since August, and climbed 1.5 percent from a year ago, data from the...

  • SHANGHAI, Jan 20- China's December crude steel output rose 7.6 percent to 68.09 million tonnes from the previous month, government data showed on Tuesday, as steel mills resumed production after enforced cuts in northern regions. Steel output in the world's largest producer also climbed 1.5 percent from a year ago, data from the National Bureau of Statistics...

  • *China seeks to move to services to create employment, reduce pollution. *China needs to climb value chain to avoid middle income trap. "It's too early for China to give up manufacturing," said Zhu Baoliang, chief economist at the State Information Centre, a top government think tank in Beijing.

  • LAUNCESTON, Australia, Jan 14- China's record imports of iron ore in December capped a year of strong growth, while also proving that the strategy of the big miners is at least partially working. China brought in 86.85 million tonnes of the steel-making ingredient in December, bringing the total for 2014 to 932.5 million tonnes, a gain of 13.8 percent over the...

  • Barclays, Deutsche and Credit Suisse have left the arena over the last 12 months, both symptom and cause of slower trading growth. As Western banks leave, their places are being taken by Chinese players such as GF Financial, Bank of China and, as of Jan. 26, China Merchant Securities. And metals trading in China itself is booming, with the Shanghai Futures Exchange...

  • BEIJING, Jan 13- China imported record levels of crude oil, iron ore and soybeans in December as the country took advantage of cheap global prices to boost shipments, despite faltering demand growth at home. "The surge in imports was largely due to the sharp drop in prices, which encouraged opportunistic restocking," said Nelson Wang, an energy analyst at CLSA...

  • BEIJING, Jan 13- China imported record levels of crude oil, iron ore and soybeans in December as the country took advantage of cheap global prices to boost shipments, despite faltering demand growth at home. "The surge in imports was largely due to the sharp drop in prices, which encouraged opportunistic restocking," said Nelson Wang, an energy analyst at CLSA...