Steel & Iron
(CMC) Company News for December 20, 2011 – Corporate Summary
• In a deal worth $560 million, Winn-Dixie Stores Inc. (NASDAQ:WINN) will be sold to supermarket operator Bi-Lo LLC. Following the development, shares of Winn-Dixie soared 70.1% • A company spokeswoman told Reuters that Procter & Gamble Co. (NYSE:PG) has stopped...
20Dec2011 | vitalstocks | 0 comments | Continued(GGB) Gerdau S.A. – ADR – Bear of the Day
Brazilian steelmaker Gerdau S.A.’s (GGB) second quarter results were rather disappointing as the company’s EPS of $0.18 plummeted 38% year over year and lagged behind the Zacks Consensus by 14 cents. Results were plagued by higher raw material costs that have been...
28Sep2011 | vitalstocks | 0 comments | Continued(GGB) Gerdau S.A. – ADR – Bear of the Day
Brazilian steelmaker Gerdau S.A.’s (GGB) second quarter results were rather disappointing as the company’s EPS of $0.18 plummeted 38% year over year and lagged behind the Zacks Consensus by 14 cents. Results were plagued by higher raw material costs that have been...
20Sep2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Holding Corporation Adds Surcharge
AK Steel Holding Corporation (AKS) added a surcharge of $460 per ton for a broad range of electrical steel products that it produces. This surcharge will be reflected in the invoices of electrical steel products to be shipped in September 2011. The surcharge is calculated on...
9Aug2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Holding Corporation Analyst Assigns Neutral Rating
We are maintaining our Neutral recommendation on AK Steel Holding Corporation (AKS). The company recorded first-quarter 2011 EPS of $0.08, beating the year-ago quarter’s $0.02 and striding ahead of the Zacks Consensus Estimate for a loss of a penny. AK Steel expects a strong...
11Jul2011 | vitalstocks | 0 comments | Continued(VALE) VALE S.A. Strengthens Logistics
Vale S.A. (VALE) recently announced that the company’s new giant bulk carriers will be manufactured in China and South Korea as the domestic market is already working at full capacity. The company has booked 19 Valemaxes and already received delivery of one carrier. The Brazilian...
7Jul2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Electric Furnace Damaged
West Chester, Ohio-based flat-rolled steelmaker, AK Steel Corporation (AKS) announced that its #5 electric arc furnace (EAF) at its Butler, Pennsylvania Works was damaged on July 1, 2011, when molten steel inside the furnace breached the furnace shell harming certain components. Steel...
6Jul2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Holding Adds Surcharge
AK Steel Holding Corporation (AKS) added a surcharge of $455 per ton for a broad range of stainless steel products it produces. This surcharge will be reflected in the invoices of electrical steel products shipped in August 2011. The surcharge is calculated based on reported...
5Jul2011 | vitalstocks | 0 comments | Continued(MTL) Mechel OAO 2011 First Quarter Earnings Soar
Russian mining company Mechel OAO (MTL) recorded a net income of $309.1 million in first quarter 2011 comprehensively beating last year’s consolidated net income of $82.6 million, a jump of 274.3% year over year. Revenues in the first quarter 2011 soared 54.4% year over year...
1Jul2011 | vitalstocks | 0 comments | Continued(HSC) Harsco Corporation Wins Contracts From JSW Steel
Harsco Corporation (HSC) has won two major new environmental solutions contracts from JSW Steel Ltd valued at $135 million. The tenure of the contract is 10 years. JSW Steel, a part of O.P. Jindal Group, is acknowledged as one of the largest steel makers in India and lowest cost...
26Jun2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Holding To Buy Raw Material
With the gradual increase in the iron ore and coking coal prices due to increase in demand, AK Steel Holding Corporation (AKS) might consider obtaining raw material assets from outside. Acquiring pieces and parts of raw materials will help the company in lowering its costs. The...
24Jun2011 | vitalstocks | 0 comments | Continued(NUE) Nucor Analyst Maintains Neutral on Shares
We maintain our neutral recommendation on Nucor Corporation (NUE) as the company’s focus has been on profitable growth through acquisitions over the past several years. Nucor plans to continue to seek attractive opportunities to acquire businesses, forge joint ventures and...
23Jun2011 | vitalstocks | 0 comments | Continued(SID) Rio Tinto to Buy Tata’s Riversdale Stake
Recently, Rio Tinto plc (RIO) received a nod from the Indian Steel major Tata Steel to buy 26% stake in its coal mining company, Riversdale in an open offer of AUD 16.5 per share, or roughly $17.36 per share. The deal is valued at $1.1 billion. The deal is expected to give Rio...
23Jun2011 | vitalstocks | 0 comments | Continued(SID) Companhia Siderurgica Nacional – ADR- Bear of the Day
We believe Companhia Siderurgica Nacional, or CSN (SID) has rising manufacturing costs, high cyclicality and growing competition in the industry. These remain major growth impediments for the company. In the first quarter of 2011, the company posted EPADR of $0.25, which was...
23Jun2011 | vitalstocks | 0 comments | Continued(VALE) Rio Tinto Plc Ups Stake in Ivanhoe
Rio Tinto Plc. (RIO) announced that it is exercising remaining warrants of Ivanhoe Mines Ltd (Ivanhoe) to acquire 55.1 million shares for $502 million or $9.10 per share. Subsequent to the acquisition, the company will increase its holdings in Ivanhoe to 46.5%, up from 42%. Rio...
22Jun2011 | vitalstocks | 0 comments | Continued(STLD) Why Investors Shouldn’t Ignore the Steel Industry
by Marc Lichtenfeld, Senior Analyst, Investment U Wednesday, June 22, 2011: Issue #1540 While most investors are focused on precious metals, I prefer to look for investment opportunities in markets less traveled. Sure, precious metals are still wildly popular – or not popular...
22Jun2011 | InvestmentU | 0 comments | Continued(VALE) Vale S.A.’s Potash Project Suspended
The Rio Colorado potash mine development project of Brazilian miner, Vale S.A. (VALE), has been suspended by the government of the Argentine province of Mendoza. The suspension, according to the Mendoza government authority, is solely due to Vale’s lack of compliance with the...
20Jun2011 | vitalstocks | 0 comments | Continued(PKX) POSCO Analyst Maintains Neutral Rating on Shares
We currently maintained our Neutral recommendation on South Korean steelmaker POSCO (PKX). POSCO is the world’s third largest steelmaker on the basis of output. The company primarily manufactures steel for the shipping and construction industries and operates through its two...
19Jun2011 | vitalstocks | 0 comments | Continued(MTL) Mechel OAO Halts Mine Operations
Russian mining company, Mechel OAO (MTL) temporarily halted operations at its Sibirginskaya mine due to high gas levels in a mined-out area. Mining works at the site were halted and all miners returned to the surface. Luckily, no carbon monoxide was detected in the long wall...
19Jun2011 | vitalstocks | 0 comments | Continued(AKS) Heavy Metal Earnings Surge
No less than five steel stocks currently carry the esteemed Zacks #1 Rank (strong buy) this week. And four of the five have been there for over a month. In the list below, the first three are classified as standard producers and occupy a Zacks Industry Rank of 163, near the bottom...
17Jun2011 | vitalstocks | 0 comments | Continued(PKX) POSCO Offers Korea First Synthetic Natural Gas Plant
Korean steel producer POSCO (PKX) is on its way to giving Korea its first synthetic natural gas (SNG) plant by the end of year 2013. The company commenced construction of the plant on June 7 at Gwangyang Steelworks. POSCO E&C will be responsible for the construction of the...
16Jun2011 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources Sells Unit
Freewest Resources Canada Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (CLF) entered into an agreement to sell its two mineral properties to Viking Gold Exploration Inc. (TSXV:VGC), subject to the approval of the TSX Venture Exchange and certain other closing...
10Jun2011 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources Restarts Mining at Oak Grove
Cliffs Natural Resources Inc. (CLF) announced that it has resumed underground mining at its Oak Grove coal mine in Alabama but was not able to ship coal from the site because of damage to the above-ground facilities. On April 27, 2011, severe weather and a tornado had snapped...
10May2011 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources Reports Excellent First Quarter
Amidst seasonally slow quarter, Cliffs Natural Resources Inc. (CLF) posted record revenues and earnings in the first quarter of 2011. Net earnings of $423 million or $3.11 per share in the first quarter were 449%, above last year’s $77 million or 57 cents. Earnings surpassed...
3May2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Holding Corporation Adds Surcharge
AK Steel Holding Corporation (AKS) added a surcharge of $435 per ton to invoices for electrical steel products shipped in June 2011. The surcharge is calculated based on reported prices for raw materials and energy used to manufacture products coupled with the April 2011 purchase...
3May2011 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal to Acquire KazStroyServices
Steel giant, ArcelorMittal (MT) is close to buying KazStroyServices Ltd, a Kazakhastan-based engineering, procurement and construction (EPC) company. The company has presence in Kazakhstan, India, Turkmenistan and West Asia and primarily builds oil and gas pipelines and refineries....
3May2011 | vitalstocks | 0 comments | Continued(AKS) Stock Market News for April 20, 2011 – Market News
On Tuesday, markets ended with modest gains as an earnings-driven trading day witnessed positive results and sentiments were boosted by strong results from bellwether stocks. Earnings reports of healthcare stocks helped push the markets higher aided by steel stocks. Tech majors...
20Apr2011 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources Settles Dispute with ArcelorMittal
North America’s largest iron-ore producer,Cliffs Natural Resources Inc. (CLF), reached an agreement with steel giant ArcelorMittal (MT) to settle disputes over price reopener entitlements for 2009 and 2010 and pellet. Cliffs will get a payment of around $250 million to $270...
13Apr2011 | vitalstocks | 0 comments | Continued(MT) Steel Industry Outlook – March 2011 – Industry Outlook
The global Steel industry is rather concentrated in structure, with a few producers accounting for the lion’s share of sales. ArcelorMittal (MT) is the world’s largest steel company, with projected crude steel production of 90.6 million tons in 2011. Steel products can be...
24Mar2011 | vitalstocks | 0 comments | Continued(CLF) Stock Market News for March 18, 2011 – Market News
Upbeat economic data helped offset fears of Japan’s nuclear meltdown and pushed indices higher ending a three-day losing streak for US markets. The day after the Dow recorded its largest decline since August 2010, the Dow Jones Industrial Average gained 1.39% to end at 11,774.51....
18Mar2011 | vitalstocks | 0 comments | Continued