Steel & Iron

(TX) Rio Tinto Downgraded to Sell

Zacks Investment Research downgraded Rio Tinto Plc. (RIO) to a Zacks Rank #4 (Sell) on May 17 on a sequentially weak production status for the first quarter of 2013, despite reporting better production than the first quarter of 2012.

Why...

28Jul2013 | | Comments Off on (TX) Rio Tinto Downgraded to Sell | Continued

(CRS) Carpenter Technology – Rolls-Royce in Supply Pact

Specialty alloy maker Carpenter Technology Corp. (CRS) has landed a supply deal with Rolls-Royce, which will provide the latter with advanced technology materials used to make jet engine components.

The five-year agreement,...

16May2013 | | Comments Off on (CRS) Carpenter Technology – Rolls-Royce in Supply Pact | Continued

(ROCK) Gibraltar Industries Lags Earnings Estimate in 2013 First Quarter

Building and construction materials producer, Gibraltar Industries Inc. (ROCK) posted adjusted earnings per share of 4 cents for the first quarter of 2013, down 55.6% compared with 9 cents in the year-ago quarter. It also missed the...

15May2013 | | Comments Off on (ROCK) Gibraltar Industries Lags Earnings Estimate in 2013 First Quarter | Continued

(VALE) Vale’s First Quarter Iron Ore Volume Drops

Vale S.A. (VALE), a metals and mining company, recently announced a mixed production report for the first quarter 2013, including a year-over-year decline in the iron ore performance.

Vale saw a year-over-year increase in production...

3May2013 | | Comments Off on (VALE) Vale’s First Quarter Iron Ore Volume Drops | Continued

(MTL) Mechel OAO Inks Deal with Baosteel

Russian miner Mechel OAO (MTL) has signed a memorandum of understanding with Baosteel Resources Int. Co. wherein Mechel’s subsidiary – Mechel Carbon Singapore – will supply the latter with up to 960,000 tons of coking coal annually.

The...

3May2013 | | Comments Off on (MTL) Mechel OAO Inks Deal with Baosteel | Continued

(AKS) AK Steel Holding Survives Infringement Scare

AK Steel Holding Corporation (AKS) announced that the United States Court of Appeals for the Federal Circuit denied ArcelorMittal‘s (MT) petition to reassess its...

18Apr2013 | | Comments Off on (AKS) AK Steel Holding Survives Infringement Scare | Continued

(MT) ArcelorMittal Completes 11.05% Stake Sale

Steel giant ArcelorMittal (MT) has announced that it has completed the first installment of its stake sale in ArcelorMittal Mines Canada. The sale was a part of the previously announced agreement, pursuant to which ArcelorMittal`s wholly-owned...

4Apr2013 | | Comments Off on (MT) ArcelorMittal Completes 11.05% Stake Sale | Continued

(VALE) Steel Industry Stock Outlook – March 2013 – Zacks Analyst Interviews

About the Steel Industry

Given the unique combination of strength, formability and versatility in steel; it is deployed across various industries including construction, transport, electrical appliances, food packaging and others. Steel products are classified into four broad...

9Mar2013 | | Comments Off on (VALE) Steel Industry Stock Outlook – March 2013 – Zacks Analyst Interviews | Continued

(CLF) Cliffs Natural Resources – Bear of the Day

We are downgrading our rating on Cliffs Natural Resources (CLF) to Underperform following its lackluster third-quarter 2012 results. Earnings fell well short of the Zacks Consensus Estimate while profit slid roughly 86% on account of lower iron...

18Dec2012 | | Comments Off on (CLF) Cliffs Natural Resources – Bear of the Day | Continued

(MT) ArcelorMittal – Bear of the Day

We are retaining our Underperform recommendation on ArcelorMittal (MT) following its dismal third-quarter 2012 results. It turned to a loss in the quarter, hurt by weak economic conditions and lower steel pricing. Both revenues and...

10Dec2012 | | Comments Off on (MT) ArcelorMittal – Bear of the Day | Continued

(VALE) Vale – ADR – Bear of the Day

We are maintaining an Underperform recommendation on Vale S.A (VALE) based on the rising cost of raw materials, increasing price volatility and demand slowdown, especially in China. Also, rising cost of delivery of materials and the...

9Nov2012 | | Comments Off on (VALE) Vale – ADR – Bear of the Day | Continued

(CLF) Cliffs Natural Resources Enters 3-year Deal with USW

Cliffs Natural Resources Inc. (CLF) entered into a three-year tentative labor contract with the United Steel Workers (USW) union that will cover approximately 2,400 USW-represented workers at Cliffs’ Empire and Tilden mines in...

23Oct2012 | | Comments Off on (CLF) Cliffs Natural Resources Enters 3-year Deal with USW | Continued

(SCHN) Schnitzer Steel Industries Steel Provides Outlook

Schnitzer Steel Industries Inc. (SCHN) provided its outlook for the fourth quarter 2012 ending August 31, 2012. The company expects both prices and sales volumes at its metal recycling business to lag on a sequential basis. Ferrous...

31Aug2012 | | Comments Off on (SCHN) Schnitzer Steel Industries Steel Provides Outlook | Continued

(MT) ArcelorMittal Remains Underperform

We are maintaining our Underperform recommendation on ArcelorMittal (MT) following  its second-quarter 2012 results.

The company’s adjusted earnings of 64 cents per share comprehensively beat the Zacks Consensus Estimate of...

28Aug2012 | | Comments Off on (MT) ArcelorMittal Remains Underperform | Continued

(MT) ArcelorMittal – Bear of the Day

We are maintaining our Underperform recommendation on ArcelorMittal (MT) following our assessment of its second-quarter 2012 results. Earnings beat the Zacks Consensus Estimate while revenues fell year over year and missed the forecast....

28Aug2012 | | Comments Off on (MT) ArcelorMittal – Bear of the Day | Continued

(MT) Metals & Mining Stock Outlook – June 2012 – Industry Outlook

The Metals & Mining industry encompasses the extraction (mining) as well as primary and secondary processing of metals and minerals. These include aluminum and gold, other precious metals, coal and steel. The industry is oligarchic in structure, with a few producers accounting for a lion’s...

24Jun2012 | | Comments Off on (MT) Metals & Mining Stock Outlook – June 2012 – Industry Outlook | Continued

(AKS) AK Steel Holding Corporation Plant Honored For Safety

AK Steel Holding Corporation (AKS) recently announced that a recognition has been bestowed on the Walbridge, Ohio plant of its subsidiary AK Tube LLC by the Ohio Bureau of Workers’ Compensation, Division of Safety and Hygiene....

4Jun2012 | | Comments Off on (AKS) AK Steel Holding Corporation Plant Honored For Safety | Continued

(SID) Companhia Siderurgica Nacional – ADR- Bear of the Day

Brazilian steel company Companhia Siderurgica Nacional, or CSN (SID) posted satisfactory fourth quarter results with EPADR of roughly 31 cents per share, much above the Zacks Consensus Estimate of 20 cents per share....

20Apr2012 | | Comments Off on (SID) Companhia Siderurgica Nacional – ADR- Bear of the Day | Continued

(PKX) POSCO – ADR- Bear of the Day

POSCO – ADR (PKX) reported disappointing financial results in 2011 with the company’s net earnings falling roughly 12% year over year. Weak margins due to higher raw material costs led to the downfall.

Though the...

5Apr2012 | | Comments Off on (PKX) POSCO – ADR- Bear of the Day | Continued

(MT) Metals & Mining Stock Outlook – March 2012 – Industry Outlook

About the Industry

The Metals & Mining industry encompasses the extraction (mining) as well as the primary and secondary processing of metals and minerals such as aluminum, gold, precious metals, coal and steel. The industry is oligarchic in structure, with a few producers...

16Mar2012 | | Comments Off on (MT) Metals & Mining Stock Outlook – March 2012 – Industry Outlook | Continued

(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...

20Dec2011 | | 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...

28Sep2011 | | 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...

20Sep2011 | | 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...

9Aug2011 | | 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...

11Jul2011 | | 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...

7Jul2011 | | 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...

6Jul2011 | | 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...

5Jul2011 | | 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...

1Jul2011 | | 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...

26Jun2011 | | 0 comments | Continued