Tag Archive
Iron Ore Ships As Steel Shapes Up – US-FOREX.US
Concerns about speculative buying continues to temper optimism regarding strengthening base metal prices as the market seeks to differentiate real metal demand from stockpiling and other conjectural buying. According to a recent report, one sector boasting solid demand is steel.Metal demand from China during the first half of the year bolstered steel demand, likely accounting… »
China Finally Arrests Rio Workers – US-FOREX.US
HONG KONG – Rio Tinto’s bribery drama reached a new climax when China formally – and finally – arrested four employees of the Australian mining giant on Wednesday. But there are signs that China is beginning to play down the matter by charging the four with less serious crimes than expected, perhaps over fears that… »
ArcelorMittal Blurs Steel Outlook – US-FOREX.US
Signs of the recovery in demand for steel aren’t translating into concrete numbers for its suppliers it seems, highlighted by the latest update from Lakshmi Mittal’s ArcelorMittal.The firm’s forecasts for the a third quarter EBITDA of between 1.4 billion and 1.8 billion disappointed a market that had been hoping that signs of the green shoots… »
Heavy Metal Local Vs. Global – US-FOREX.US
As India’s Tata Steel gets ready to declare its earnings later this week, there are signs of green shoots in some geographies in the metals industry. But its albatross, Corus, will continue to drag it down, analysts predict. While steel may remain in oversupply over the next three to five years, inventory-driven mini cycles can… »
Pricey Relief For Mechel – US-FOREX.US
Sinister comments from Russian Prime Minister Vladimir Putin last summer triggered fears that Russian steel titan Mechel could be the next Yukos. Now the firm of billionaire Igor Zyuzin has succeeded in refinancing some 2.6 billion in short term debt, in a move that has caught the market by surprise and bucks the trend of… »