Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Evraz Returns to Black as Q1 Sales Rise
22 May 2013 - Evraz Highveld Steel and Vanadium reported a return to profitability as it delivered a first quarter profit after suffering significant losses during the first and fourth quarters of 2012.
JSW Ispat Reports Rs 159.33 Crore Net Profit in Q4
21 May 2013 - Helped by deferred tax benefits of Rs 159.33 crore, JSW Ispat Steel, an associate firm of JSW Steel, today reported a standalone net profit of Rs 94.16 crore for the fourth quarter ended March 2013.
Severstal Q1 Net Profit Falls Almost 90% on Lower Prices
21 May 2013 - Russian steelmaker Severstal's IFRS net profit fell 89.7 percent year-on-year in January-March 2013 to $44 million, the company said on Monday, citing weaker demand and lower realized prices as contributing factors.
Novolipetsk 1Q Net Profit Falls 78%, Sees Ongoing Challenges
20 May 2013 - Russian steelmaker Novolipetsk Iron & Steel Corp. (NLMK.RS) said Friday its first-quarter net profit fell 78% on the year earlier to $38 million, noting that challenges in the global steel market remain.
Salzgitter AG update on Q1 2013 performance
17 May 2013 - In the first three months of 2013, the performance of the Salzgitter Group was overshadowed by persistently unfavorable general economic conditions in Europe.
Austria's Voestalpine on track to hit earnings forecast
17 May 2013 - Austrian steelmaker Voestalpine is on track to hit earnings before interest and tax (EBIT) of about 800 million euros ($1.03 billion) for 2012/13, up from 704 million last year, Chief Executive Wolfgang Eder said.
CSN announces Q1 2013 results
16 May 2013 - Brazilian flat-steel maker Companhia Siderurgica Nacional (SID, CSNA3.BR), or CSN, late Wednesday reported a drop of 82% in its first-quarter net profit, due to the rise of its costs in the period.
ThyssenKrupp Meets Operating Targets in First Half of 2012/2013
15 May 2013 - In the 1st half of the 2012/2013 fiscal year (October 01, 2012 – March 31, 2013) ThyssenKrupp achieved order intake from continuing operations of €19.3 billion, down 7% year-on-year.
Salzgitter's Loss Widens in 1Q, Expects No Significant Improvement
15 May 2013 - Germany-based steelmaker Salzgitter Group has issued its financial results data for the first quarter of the current year, stating that the performance of the company was overshadowed by persistently unfavorable general economic conditions in Europe.
Tata Steel Writes Down Assets Due to Weakness in Europe
14 May 2013 - Tata Steel expects non-cash write down of the goodwill and assets in the consolidated financial statements for the year ended 31 March 2013 of around US$1.6 billion due primarily to weakness in Europe.
ArcelorMittal Flat Carbon Europe Reports €43 Million Q1 2013 Operating Loss
10 May 2013 - ArcelorMittal announced results for its Flat Carbon Europe segment for the first quarter of 2013.
ArcelorMittal Reports First Quarter 2013 Results
10 May 2013 - ArcelorMittal, the world’s leading integrated steel and mining company, announced results for the three month period ended 31 March 2013.
Tenaris Says Oil and Gas Drilling Should Pick Up by End of Year
08 May 2013 - Tenaris said first quarter sales decreased as higher sales of premium OCTG products in Saudi Arabia and Sub-Saharan Africa did not fully compensate for lower sales in South America and the impact of lower market prices for less differentiated products in North America.
Cliffs Natural Resources' Leader says Company is 'Headed in the Right Direction'
01 May 2013 - As the company reported its first quarter earnings results, Cliffs Natural Resources' chairman, president and CEO Joseph Carrabba said the company in headed in the right direction and anticipates the end markets for its products to remain healthy.
SSAB Foresees Weak Growth in Europe, a Slow Recovery in the U.S., and Continued Solid Demand in Latin America
01 May 2013 - SSAB said the first quarter of the year was characterized by a degree of restocking by customers, which had a positive impact on the company's volumes within all business areas.
TMS Confident as it Reports First Quarter Earnings
01 May 2013 - TMS International Corp., the parent company of Tube City IMS Corporation, a provider of outsourced industrial services to steel mills globally, said it continues to face a challenging industry environment as it reported its first quarter earnings results.
Global Outlook is Positive for U.S. Coal and Minerals Mining
28 January 2013 - National Mining Association (NMA) president & CEO Hal Quinn said at a press briefing today that the outlook for U.S. coal and minerals mining in 2013 is positive due to clear improvements in key sectors of the U.S. economy and the global demand for mined products, particularly in developing economies.
Steel Dynamics Provides Third Quarter Earnings Guidance
12 September 2012 - Steel Dynamics, Inc. provided third quarter earnings guidance in the range of $0.01 to $0.05 per diluted share, largely reflecting charges related to the company’s recent refinancing as well as a combination of global economic and political uncertainty continuing to impact customer confidence.
Nucor Announces Guidance for Its Second Quarter Earnings
13 June 2012 - Nucor Corporation announced guidance for its second quarter ending June 30, 2012. Nucor expects second quarter results to be in the range of US$0.35 to $0.40 per diluted share. This performance, excluding an expected impairment charge, is somewhat below the qualitative guidance presented in its first quarter earnings release and conference call.
Carpenter Technology Reports Second Quarter Results
30 January 2012 - Carpenter Technology reported net income attributable to Carpenter of $23.6 million ($0.52 per share) for the quarter ended December 31, 2011.
