SHANGHAI, April 26- Plunging iron ore prices are providing a lifeline for some of China's biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union and countries such as India. That doesn't bode well for struggling steelmakers elsewhere in the world, which have been hoping for a shake-out of the...» Read More
Being a big wheel in the earth mover business, Vipin Sondhi has a very clear idea why the Indian economy is stuck in the mud and what the government must do to change the mindset of business executives, like himself.
Spencer Wicks, pulbisher at Steelfirst.com, tells CNBC that there couldn't be a worse time to be selling steel assets as you've got a buyers' market.
The Timken Company president & CEO Jim Griffeth, discusses the year ahead for his company, and how the growth of the domestic natural gas market is driving profitability.
China's harshest winter in nearly three decades has hit iron ore output and driven up prices just as demand from steel mills revives in a resurgent economy. Imports are at record levels.
Steelmaker ArcelorMittal raised a bigger-than-expected $4 billion in a share and convertible notes offering, it said on Thursday, to fix its debt-laden balance sheet.
Goldman upgrades Dell to buy from sell. The FMHR traders discuss. Meanwhile Dick Grasso, Stuart Financial, says he expects steel to run up again before the year's end.
The Fast Money traders discuss whether a breakup is brewing for Timken; and CNBC's Jane Wells rounds up the latest action on the West Coast.
Prior to Oracle's earnings report yesterday, one trader bought 20,307 Oct. 32-strike puts for $0.79 and sold the same number of the Jan. 34-strike calls for $0.98.
Nick Trevethan, Senior Commodities Strategist, ANZ Research is bullish on gold & silver in the face of event risks. He expects prices to strengthen ahead as central banks offer easing support.
Slumping iron prices are set for a sharp rise in the medium-to-long term, Severstal Head of Strategy Thomas Veraszto told CNBC’s “Worldwide Exchange” on Monday.
Officials in California fell victim to a mindset that says China is automatically cheaper, says one analyst. “We shot ourselves in the foot,” she says. “We never even took seriously the domestic bid.”
Construction is starting to show signs of life and Sam Dubinsky, Wells Fargo senior analyst, suggests looking for a steel recovery in 2013.
As China’s construction boom slows, steel mills across the country are scrambling to find ways to bolster profits, and one has hit on an unusual strategy: raising pigs. The FT reports.
Indonesian Trade Minister Gita Wirjawan told CNBC on Tuesday that Southeast Asia's largest economy was not adopting protectionist policies and was only following in the footsteps of other developed countries.
BlueScope Steel, Australia's largest steelmaker, posted a net loss before restructuring charges in line with market forecasts as it overhauled its Australian business, and slashed hefty debt levels and said its second-half loss should be smaller.
India's Tata Steel, the world's No.7 steelmaker, posted an unexpected quarterly loss, its first in more than two years, as higher raw material costs and weak demand in Europe hurt margins.
China’s steelmakers will see a rebound this year thanks to weakening iron ore prices and potential policy easing in the property sector, Helen Lau, senior analyst metals and mining at UOB Kay Hian in Hong Kong, told CNBC on Wednesday.
China's steelmakers have racked up $400 billion in debt, which some may struggle to repay, making them a potential drag on a banking sector already facing rising bad loans from the property sector and local governments.
America’s infrastructure can and should be built with American steel. That is why current Buy America provisions are so important, and why efforts to circumvent these provisions, such as California used in the Bay Bridge project, need to be stopped.
The coming of the next “big one” led to the use of Chinese steel in the rebuilding of a national icon - one of the busiest bridges in the world: The San Francisco-Oakland Bay Bridge. Looming natural disasters, willful neglect and infirmity of America’s infrastructure demand our rebuilding. Reconstruction, however, is going to require Sino steel.