Steel & Iron
(NUE) Nucor Corporation Moves from Loss to Gain
Nucor Corporation (NUE) has revealed a profit of $58.9 million or 18 cents per share in the fourth quarter of 2009, compared to the Zacks Consensus Estimate of 9 cents per share. This was an improvement over losses of 60 cents, 43 cents and 10 cents per share in the first, second...
26Jan2010 | vitalstocks | 0 comments | Continued(AKS) AK Steel Corporation Beats Earnings Expectations
Shares of AK Steel Corporation (AKS) gained more than 6% after the company reported a net income of $39.8 million or 36 cents per share in the fourth quarter of 2009, in contrast to a net loss of $430.6 million or $3.87 per share for the fourth quarter of 2008. Reported earnings...
25Jan2010 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal and BHP Billiton to Combine Iron Ore Mining
ArcelorMittal (MT) entered into initial discussions with BHP Billiton (BHP) to potentially combine their respective iron ore mining and infrastructure interests in Liberia and Guinea in a joint venture. The iron ore interests of the two companies in Liberia and in Guinea are...
19Jan2010 | vitalstocks | 0 comments | Continued(STLD) Steel Dynamics Making 1st Iron Nuggets
Steel Dynamics, Inc. (STLD), the sixth-largest steel maker in the US, has commenced the production of the first batch of iron nuggets at the Mesabi Nugget facility at Hoyt Lakes, Minnesota, using the ITmk3® process developed by Kobe Steel Ltd. of Japan. This is the world’s...
14Jan2010 | vitalstocks | 0 comments | Continued(STLD) Steel Dynamics Guides Forecasts Lower
Steel Dynamics Inc. (STLD), the nation’s fifth-largest producer of carbon steel products, has recently announced that it expects to earn between 10 cents and 20 cents per share in the fourth quarter of 2009, compared with the Zacks Consensus Estimate which is pegged at...
8Jan2010 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal Issues Convertible Bonds
Recently, leading steel maker ArcelorMittal (MT), through its wholly owned subsidiary in Luxembourg, announced the issuance of a $750 million bond mandatorily convertible into preferred shares of the subsidiary. The bond was placed privately with a Luxembourg affiliate of Calyon...
6Jan2010 | vitalstocks | 0 comments | Continued(NUE) U.S. New Factory Orders Rise
The Census Bureau reported today that New Orders for Manufacturers rose by 1.1% in November. This was up from a 0.8% increase in October (which was revised up from 0.6%) and comes on top of a 1.6% increase in September. The increase was much better than the 0.5% expected by the...
5Jan2010 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources – 2010 Growth Forecasted to be 329%
Cliffs Natural Resources Inc. (CLF) shares continue to set new highs as analysts and management raise estimates. Company Description Cliffs Natural Resources mines iron and metallurgical coal in the U.S., South America, and Australia. The company focuses on supplying growing...
5Jan2010 | vitalstocks | 0 comments | Continued(VALE) Vale S.A. Sees Higher Production
Vale S.A. (VALE), the world’s largest iron-ore supplier, reportedly plans to hike its iron ore production to full capacity next year, helped by the global economic recovery. Vale’s iron ore production fell by about 30 million tons this year from about 302 million...
29Dec2009 | vitalstocks | 0 comments | Continued(SID) Companhia Siderurgica Nacional Bids for Portuguese Company
Brazilian steel maker Companhia Siderurgica Nacional (SID) launched a 3.86 billion euro ($5.6 billion) bid for Cimentos de Portugal (Cimpor). SID offered 5.75 euros per share of Cimpor. The company asserted that the deal would result in the formation of one of the world’s largest...
22Dec2009 | vitalstocks | 0 comments | Continued(VALE) Investing in Brazilian Steel: Four Companies Set to Profit From Transportation Infrastructure
Tony Daltorio, Investment U Research Monday, December 22, 2009 Even though Vale (NYSE: VALE) decided to cut its iron ore production by about 10% during the global crisis, the iron ore-mining giant has found itself in hot water. Of course, other companies in Brazil and around...
22Dec2009 | InvestmentU | 0 comments | Continued(RTP) Rio Tinto and BHP Billiton Joint Venture Moving Forward
Rio Tinto (RTP) and BHP Billiton (BHP) signed binding agreements on their proposed partnership that cover all aspects of how the joint venture will operate and be governed. In June 2009, both the companies had signed an agreement of core principles to establish a production joint...
8Dec2009 | vitalstocks | 0 comments | Continued(MTL) Mechel OAO Commissions Steel Processing Facility
One of Russia’s leading metal and mining companies, Mechel OAO (MTL) commissioned its integrated steel processing facility (ladle furnace) at the oxygen-converter shop of its Chelyabinsk Metallurgical Plant OAO subsidiary. Investments for the construction and commissioning...
1Dec2009 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal Increases Stake in ArcelorMittal Ostrava
The leading steel maker, ArcelorMittal (MT) announced that it has agreed to acquire a 13.881% stake in ArcelorMittal Ostrava, a.s. from a subsidiary of PPF GROUP N.V., for approximately $404.3 million. The company said that this investment is consistent with ArcelorMittal’s...
14Nov2009 | vitalstocks | 0 comments | Continued(MTL) Mechel OAO Recovers
Mechel OAO (MTL), one of Russia’s leading mining and metallurgical companies, has reported results for its second quarter and first half of 2009. For the first half of 2009, Mechel reported revenues of $2.4 billion, down 54% from the year-ago period. The company reported net...
12Nov2009 | vitalstocks | 0 comments | Continued(GGB) Gerdau S.A. Margins Recovered
Today, Gerdau S.A. (GGB) announced consolidated results for the third quarter of 2009. The company did not provide comparable year-on-year figures in a securities filing. Sales reached 3.9 million tons in the quarter, 15% higher than in the second quarter of 2009, reflecting...
7Nov2009 | vitalstocks | 0 comments | Continued(MT) Arcelor Mittal Beats Consensus Estimates
Recently, Arcelor Mittal (MT) reported encouraging results for the third quarter of 2009. The company recorded a net income of $0.9 billion, or $0.60 per share, as compared with a net loss of $0.8 billion, or $(0.57) per share, for the three months ended June 30, 2009, and net...
3Nov2009 | vitalstocks | 0 comments | Continued(VALE) Vale S.A. is Banking on a Better Economy
Last week, Vale S.A. (VALE) announced a strong set of operational and financial results for the third quarter of 2009, returning to growth after the impact of the global financial shock. The improved performance reflects the company’s underlying earnings power based on...
2Nov2009 | vitalstocks | 0 comments | Continued(CLF) Weak Third Quarter for Cliffs Natural Resources
Cliffs Natural Resources (CLF), the largest producer of iron ore pellets in the U.S., recorded third-quarter 2009 profits of 45 cents, significantly lower than last year’s earnings of $1.61 per share, on weak iron volumes and prices. However, reported earnings were in contrast...
1Nov2009 | vitalstocks | 0 comments | Continued(AKS) AK Steel Outlook Remains Gloomy
Yesterday morning, AK Steel (AKS) reported weak results for the third quarter of 2009. Net income of $6.2 million, or $0.06 per diluted share of common stock was for the quarter, compared to net income of $188.3 million, or $1.67 per diluted share, for the third quarter of 2008.The...
28Oct2009 | vitalstocks | 0 comments | Continued(NUE) Nucor Corporation Trims Losses
Net losses for Nucor Corporation (NUE), the largest recycler of steel scrap in the US, narrowed to $29.5 million, or 10 cents per diluted share, for the third quarter of 2009. The result was narrower than the Zacks Consensus Estimate for a loss of 14 cents. In the second quarter,...
22Oct2009 | vitalstocks | 0 comments | Continued(STLD) Steel Dynamics Beats Earnings Guidance
The third largest steel maker in the US, Steel Dynamics Inc. (STLD) reported net income of $69 million ? or 30 cents per diluted share ? for the third quarter of 2009, after reporting losses for three consecutive quarters. The earnings, which were driven by cost reduction through...
20Oct2009 | vitalstocks | 0 comments | Continued(NUE) Inflation? What Inflation?
In September, the Producer Price Index (PPI) fell 0.6% on a headline basis, while excluding food and energy it was down 0.1% for the month. This is in fairly distinct contrast to August, where the PPI rose 1.7% on a headline basis and 0.2% for the core. Year over year, producer...
20Oct2009 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal Selling Stake in Wabush Mines
Earlier this week, ArcelorMittal (MT) signed a definitive agreement to divest its minority interest in Wabush Mines, Canada, for $34.28 million. ArcelorMittal’s 28.6% stake in the Wabush Mines joint venture is being sold to Consolidated Thompson Iron Mines Ltd. Consolidated...
16Oct2009 | vitalstocks | 0 comments | Continued(PKX) POSCO Earnings Results Disappoint
POSCO (PKX) saw a 22.3% decline in third-quarter revenues to KRW6,851 billion from KRW8,813 billion in the corresponding quarter last year. Operating income declined 48.7% year over year, while net profit was down 6.3%. The decline in the company’s profit was primarily driven...
16Oct2009 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources to Acquire Wabush Mines Stake
International mining and natural resources company, Cliffs Natural Resources Inc. (CLF) announced on Oct 12 its decision to exercise its right of first refusal to acquire U.S. Steel Canada’s 44.6% interest and ArcelorMittal Dofasco’s 28.6% interest in the Wabush Mines joint...
16Oct2009 | vitalstocks | 0 comments | Continued(NUE) Nucor Corporation’s High-Cost Inventory Hurts Estimates
U.S.’s largest recycler of steel scrap, Nucor Corporation (NUE), has announced its guidance for its third quarter ending Oct. 3, 2009. Nucor expects losses of 15 cents to 20 cents per share in the quarter. The Zacks Consensus Estimate expects a loss of 15 cents. Helped by increased...
13Oct2009 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal Raises $1 Billion of Capital Through Bond Offering
Last week, ArcelorMittal (MT) completed the pricing of its 30-year, $1 billion aggregate principal amount of 7% bonds due in 2039. The yield of the bonds is 7.4%. Net proceeds from the transaction will be $943.3 million (before expense), which will be used for general corporate...
6Oct2009 | vitalstocks | 0 comments | Continued(STLD) Steel Dynamics Guides Earnings Higher
Steel Dynamics Inc. (STLD), the sixth-largest steel maker in the U.S., recently boosted its third-quarter earnings forecast to a range of 20 cents to 25 cents per share, up slightly from its July view of 10 cents to 20 cents. The Zacks Consensus Estimate is pegged at 15 cents....
11Sep2009 | vitalstocks | 0 comments | Continued(RTP) Rio Suspends Chinese Talks
Last week, Rio Tinto Plc (RTP) suspended talks with Chinese steelmakers over price cuts on iron ore. Rio, BHP Billiton (BHP) and Brazil’s Vale S.A. (VALE) were participating in the negotiation. Tensions between China and Rio grew when the world’s second-largest miner spiked...
11Sep2009 | vitalstocks | 0 comments | Continued