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Posts related to ‘steel’

close-up of red hot iron beams

Steel Makers to Take Advantage of Cheap U.S. Natural Gas

Posted: December 31, 2012 at 12:13 pm

Low prices for natural gas have led to lower demand for coal as a fuel for electricity generation and to wider margins for chemical products makers. Now it looks like ...
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close-up of red hot iron beams

Steel Maker Takes Huge Writedown

Posted: December 21, 2012 at 7:36 am

The world’s largest steelmaker, ArcelorMittal (NYSE: MT), said this morning that it would take a noncash $4.3 billion impairment charge against the goodwill of its businesses in Europe. The charge ...
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More Downside for Steelmaker

Posted: November 27, 2012 at 10:29 am

Steelmaker and recycler Schnitzer Steel Industries Inc. (NASDAQ: SCHN) said today that it expects net income for its first fiscal quarter of 2013 ending this month to be breakeven before ...
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Lower Steel Demand Takes Toll on Iron Ore Producer

Posted: November 20, 2012 at 2:34 pm

Cliffs Natural Resources Inc. (NYSE: CLF), a major producer of iron ore from mines in North America, Brazil, and Australia, has idled some of its North American ore production and ...
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U.S. Prevails in Steel Trade Case with China

Posted: October 18, 2012 at 2:16 pm

The World Trade Organization (WTO) ruled today that the U.S. did not illegally dump a type of specialty steel into the Chinese market beginning in 2010. China imposed 19.5% tariffs ...
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Steelmaker Schnitzer Slashes Forecast, Will Fire 300 (SCHN, AKS, MT, X, NUE, STLD)

Posted: August 28, 2012 at 9:44 am

Steelmaker Schnitzer Steel Industries Inc. (NASDAQ: SCHN) announced this morning that it would fire 300 workers in a restructuring the company said will save $25 million annually. The restructuring is ...
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GM Invests in Lightweight Steel Maker

Posted: August 6, 2012 at 11:08 am

The venture capital arm of General Motors Co. (NYSE: GM) has invested an undisclosed amount in a Series C round of financing for lightweight steel maker NanoSteel Co. GM joins ...
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Steel’s Slow-Motion Recovery (AKS, X, NUE, STLD, MT, AA)

Posted: June 18, 2012 at 10:51 am

Global demand for steel remains weak even as prices for iron ore rise slightly indicating that steelmakers could be in for another tough quarter. As if on cue, AK Steel ...
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Commercial Metals Blasts EPS Estimate (CMC)

Posted: March 28, 2012 at 7:58 am

Metal and steel fabricator Commercial Metals Corp. (NYSE: CMC) reported second fiscal quarter earnings this morning, and the company’s EPS came in at $0.25, absolutely smashing the consensus estimate of ...
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Lower Steel Demand from China Chills Mining Stocks (BHP, VALE, RIO)

Posted: March 20, 2012 at 10:00 am

The projected slowdown in China’s GDP growth to 7.5% in 2012 has dampened demand for steel. Steel prices are flattening out and the result is that investors are seeing a ...
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Steel Dynamics Lowers Forecast (STLD, NUE)

Posted: March 16, 2012 at 10:02 am

Steel maker Steel Dynamics Inc. (NASDAQ: STLD) today cut its EPS guidance by around 50% of the previous consensus estimate of $0.36. The company’s new forecast is for EPS of ...
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Mining Boom Times Continue (BHP, RIO, CAIQF, GLNCY, AAUKY, MACDF, BTU, MT, YZC)

Posted: August 24, 2011 at 11:26 am

The world's largest mining company, BHP Billiton plc (NYSE: BHP) reported an increase in profits of 86% and a revenue increase of 36% for its 2011 fiscal year ended June ...
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Commodity Watch: Glencore Watch; Bracing for Cotton (XSRAY, LIZ, WMT, JCP, GPS, PKX, BP, RDS-A, XOM, CVX, COP, BRGYY, BHP)

Posted: March 28, 2011 at 4:14 pm

Time now for our daily look at commodity prices and news. Swiss-based commodities trading house Glencore International AG is expected to conduct an IPO on the Hong Kong exchange around ...
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Glencore Readies IPO, While Cotton Prices Predicted to Fall (XSRAY, LIZ, WMT, JCP, GPS, PKX, BP, RDS-A, XOM, CVX, COP, BRGYY, BHP)

Posted: March 28, 2011 at 4:02 pm

Time now for our daily look at commodity prices and news. Swiss-based commodities trading house Glencore International AG is expected to conduct an IPO on the Hong Kong exchange around ...
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