Beursonline.nl

voda 14 februari 2014 15:40

0

China iron ore price to fall further on weaker steel price - CISA

According to the China Iron and Steel Association, iron ore demand intensity in China will fall further on continuous drops in steel market and output.

1. Demand intensity falls on slow down in steel making;
China's daily crude steel output fell for the third month in a row in December to 2.0114 million tonnes down 0.1694 million tonnes or 7.77% from September. CISA reported in January that its member steel companies produced 1.6642 million tonnes of crude steel per day in the first twenty days in January down 2.49% from December and said the iron ore demand intensity will be no better off.

2. Iron ore oversupply remaining the case;
Iron ore supply growth far outnumbered the iron making demand in China. China produced 708.97 million tonnes of pig iron in 2013 up 41.64 million tones or 6.24% from 2012 and indicating the increment in finished iron ore demand of up to 67.00 million tones. During the same period, Chinese crude ore output increased 131 million tonnes, equivalent to 40 million tonnes of finished iron ore, to 1.45 billion tonnes; imports grew 75.81 million tonnes or 10.19 percent to 819 million tonnes. Iron ore kept at Chinese ports increased 23.16 million tonnes or 33.04% on annual basis or 9.5 million tonnes or 10.72 on monthly basis to 98.12 million tonnes by the end of January.

3. Iron ore price to fall;
86 CISA member steel companies posted the profit of 22.886 billion yuan and the margin of 0.62% in 2013, but steel-making business remains in deficits after the deduction of non-steelmaking businesses. CISA’s Complex Steel Price Index (CSPI), 102.76 points averaged in 2013, dropped 8.6% from 2012; whilst iron ore prices rose USD 0.28 per MT or 0.22% to USD 129.03 per MT. CSPI fell 1.5% in January to 97.65 points, the lowest point since May 2009. Chinese domestic iron ore fell CNY 21.87 per MT or 2.39% to CNY 894.99 per MT at the end of January; offshore iron ore declined USD 8.51 per MT or 6.49% to USD 122.67 per MT, cif.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 14 februari 2014 15:41

0

China Jan iron ore imports surge to record 87 million

Reuters reported that China's imports of iron ore surged to a record 86.84 million tonnes in January, defying analysts' expectations to rise more than 18% from the previous month.

Data from China's customs authority showed that the figure was also a third higher than the same period of last year and exceeded the previous record set in November by 11.6%.

Analysts expected shipments to China, the world's biggest iron ore consumer, to have fallen over January, with prices declining to a six month low in the month amid growing uncertainty about demand in the country's steel sector.

The big increase is unlikely to have been driven by underlying demand from the country's massive steel sector, which has been struggling with weak demand, a lack of credit and a drive by Beijing to clean up the environment.

Mr Judy Zhu metals analyst with Standard Chartered Bank in Shanghai said that “These figures are certainly higher than we previously expected not all of these commodities will have been consumed by downstream industry and this is reflected in the very high inventories of iron ore at Chinese ports, which are at their highest level since September 2012.”

Source – Businesstimes.com

voda 14 februari 2014 15:43

0

Evrim and ArcelorMittal sign five year exploration agreement

Evrim Resources Corporation announced that it has signed an agreement with ArcelorMittal Servicios Minerometalurgicos de Occidente SA de CV a wholly owned subsidiary of ArcelorMittal SA to explore for iron ore deposits in Mexico.

Mr Paddy Nicol president and CEO of Evrim said that "We look forward to working with ArcelorMittal to find and develop new iron ore deposits for processing at their facilities in Mexico. This Agreement offers Evrim a unique opportunity to quickly advance projects for long term sustainability."

Source – Strategic Research Institute

voda 14 februari 2014 15:54

2

Kopen

Positieve outlook voor ArcelorMittal

14 februari | 10:33

ArcelorMittal (EUR 12,92 ? Kopen) rapporteerde solide resultaten over het vierde kwartaal van 2013 die wat betreft het bedrijfsresultaat (EBITDA) hoger waren dan de consensus. Het bedrijfsresultaat kwam voor het vierde kwartaal uit op USD 1,91 miljard. Dit was zes procent hoger dan de consensus van USD 1,8 miljard. Dit is voornamelijk te danken aan de Europese staaldivisie die profiteert van een aantrekkende vraag en hogere staalprijzen.

Ook wist ArcelorMittal een sterke cashflow te genereren gedurende het vierde kwartaal van 2013 waardoor de netto schuld neerkwam op USD 16,1 miljard tegenover de USD 17,1 miljard die werd verwacht. ArcelorMittal blijft positief over de outlook van zijn belangrijkste markten en verwacht dat het vrachtvervoer van staal over 2014 zal verbeteren met drie procent ten opzichte van 2013.

Het staalconcern verwacht voor 2014 een bedrijfsresultaat van USD 8 miljard, wat in lijn is met de huidige consensus. We herhalen ons Kopen-advies omdat we geloven dat het dieptepunt van de staalcyclus achter ons ligt. Verder zouden het kostenbesparingsprogramma en de mijnexpansie moeten leiden tot een sterke omzetgroei in 2014.

De omzet over het vierde kwartaal kwam uit op USD 19,9 miljard, wat 1,6 procent onder de consensus van USD 20,1 miljard ligt. ArcelorMittal rapporteerde een nettoverlies van USD 1,2 miljard, waar de consensus lag op USD 209 miljoen. Verder van invloed op de kwartaalcijfers waren de herstructureringskosten van USD 380 miljoen en afschrijvingen. Exclusief deze afschrijvingen zouden de netto inkomsten neer zijn gekomen op USD 216 miljoen (gelijk aan de consensus).

De netto schuld kwam uit op USD 17,0 miljard. Dit werd voornamelijk gedreven door de toegenomen cashflow-activiteiten en door de verdere verkoop van aandelen Erdemir ter waarde van USD 267 miljoen. Verder kwamen de investeringen voor heel 2013 uit op USD 3,5 miljard, wat USD 200 miljoen lager was dan waar op werd gerekend. Het bedrijf gaat voor 2014 uit van een bedrijfsresultaat van ongeveer USD 8 miljard, wat overeenkomt met de verwachtingen.

In lijn met de verklaringen uit het derde kwartaal van 2013, blijft ArcelorMittal aantrekkende activiteit zien in de belangrijkste markten. ArcelorMittal verwacht ook in het komende kwartaal aantrekkende activiteit omdat het bouwseizoen nadert.

ArcelorMittal heeft, overeenkomstig met de consensus, een dividendvoorstel gedaan voor 2014 van USD 0,20 per aandeel. Op de middellangetermijn handhaaft het bedrijf de Target voor de nettoschuld van USD 15 miljard.

De huidige waardering van ArcelorMittal is naar onze mening niet te duur, gezien het aandeel handelt op 5,8 keer het geschatte bedrijfsresultaat. Al is dit vergelijkbaar met concurrenten. De balans is veel sterker en ook de kostenbesparingen helpen nu de vraag, in met name Europa, weer aantrekt. In de Verenigde Staten is de outlook zelfs nog beter omdat daar de energieprijzen een veel minder zware last zijn.

www.abnamro.nl/nl/prive/beleggen/beur...

mickjagger2 14 februari 2014 15:58

0

quote:
voda schreef op 14 februari 2014 15:54:
Kopen

Positieve outlook voor ArcelorMittal

14 februari | 10:33

ArcelorMittal (EUR 12,92 ? Kopen) rapporteerde solide resultaten over het vierde kwartaal van 2013 die wat betreft het bedrijfsresultaat (EBITDA) hoger waren dan de consensus. Het bedrijfsresultaat kwam voor het vierde kwartaal uit op USD 1,91 miljard. Dit was zes procent hoger dan de consensus van USD 1,8 miljard. Dit is voornamelijk te danken aan de Europese staaldivisie die profiteert van een aantrekkende vraag en hogere staalprijzen.

Ook wist ArcelorMittal een sterke cashflow te genereren gedurende het vierde kwartaal van 2013 waardoor de netto schuld neerkwam op USD 16,1 miljard tegenover de USD 17,1 miljard die werd verwacht. ArcelorMittal blijft positief over de outlook van zijn belangrijkste markten en verwacht dat het vrachtvervoer van staal over 2014 zal verbeteren met drie procent ten opzichte van 2013.

Het staalconcern verwacht voor 2014 een bedrijfsresultaat van USD 8 miljard, wat in lijn is met de huidige consensus. We herhalen ons Kopen-advies omdat we geloven dat het dieptepunt van de staalcyclus achter ons ligt. Verder zouden het kostenbesparingsprogramma en de mijnexpansie moeten leiden tot een sterke omzetgroei in 2014.

De omzet over het vierde kwartaal kwam uit op USD 19,9 miljard, wat 1,6 procent onder de consensus van USD 20,1 miljard ligt. ArcelorMittal rapporteerde een nettoverlies van USD 1,2 miljard, waar de consensus lag op USD 209 miljoen. Verder van invloed op de kwartaalcijfers waren de herstructureringskosten van USD 380 miljoen en afschrijvingen. Exclusief deze afschrijvingen zouden de netto inkomsten neer zijn gekomen op USD 216 miljoen (gelijk aan de consensus).

De netto schuld kwam uit op USD 17,0 miljard. Dit werd voornamelijk gedreven door de toegenomen cashflow-activiteiten en door de verdere verkoop van aandelen Erdemir ter waarde van USD 267 miljoen. Verder kwamen de investeringen voor heel 2013 uit op USD 3,5 miljard, wat USD 200 miljoen lager was dan waar op werd gerekend. Het bedrijf gaat voor 2014 uit van een bedrijfsresultaat van ongeveer USD 8 miljard, wat overeenkomt met de verwachtingen.

In lijn met de verklaringen uit het derde kwartaal van 2013, blijft ArcelorMittal aantrekkende activiteit zien in de belangrijkste markten. ArcelorMittal verwacht ook in het komende kwartaal aantrekkende activiteit omdat het bouwseizoen nadert.

ArcelorMittal heeft, overeenkomstig met de consensus, een dividendvoorstel gedaan voor 2014 van USD 0,20 per aandeel. Op de middellangetermijn handhaaft het bedrijf de Target voor de nettoschuld van USD 15 miljard.

De huidige waardering van ArcelorMittal is naar onze mening niet te duur, gezien het aandeel handelt op 5,8 keer het geschatte bedrijfsresultaat. Al is dit vergelijkbaar met concurrenten. De balans is veel sterker en ook de kostenbesparingen helpen nu de vraag, in met name Europa, weer aantrekt. In de Verenigde Staten is de outlook zelfs nog beter omdat daar de energieprijzen een veel minder zware last zijn.

www.abnamro.nl/nl/prive/beleggen/beur...

mooi Hans

Ab-tje :-)

voda 14 februari 2014 23:25

0

Thanks!

www.youtube.com/watch?v=3a7cHPy04s8

voda 15 februari 2014 15:11

0

Moody keeps TATA Steel ratings unchanged

PTI reported that Moody's Investors Service maintained its ratings for TATA Steel, saying the first 9 months' results show group performance has firmed up on robust growth.

Moody's Investors Service said in a release that "While this has no immediate impact on the Ba3 rating of TATA Steel and B3 rating of TATA Steel UK Holdings, both with negative outlooks, it bodes well, given that the current March quarter is normally a strong quarter for the company."

Mr Alan Greene VP and Senior Credit Officer of Moody said that "The base effect of the Jamshedpur expansion is now built in to TATA Steel's performance and results will not improve significantly until the first phase of the Odisha expansion starts up in early 2015."

TATA Steel UK's cumulative deliveries for the first 6 months of the year were unchanged but in the Q3, deliveries grew by 5.6% over the corresponding period last year.

Cost saving measures, combined with higher realizations from the sale of more specialized steels in the product mix, have compensated for general price weakness.

Mr Greene said that "While the European economy is not vibrant, if TATA Steel UK can maintain positive EBITDA and move to net profits, then the chances of it meeting its impending leverage covenants or alternatively being in a position to be refinanced are much improved."

TATA Steel's Southeast Asian operations have sustained their robust growth and output from the electric arc furnace in Singapore has been successfully increased.

Gross debt at the group level is down to INR 76,500 crore from INR 77,100 crore at the end of September 2013 but up from the March 31st 2013 figure of INR 66,100 crore.

Source - PTI

voda 15 februari 2014 15:14

0

Duties on illegally traded Chinese steel pipe will protect American workers

Mr Leo W Gerard president of United Steelworkers International issued the following statement after the US Department of Commerce announced that it would maintain antidumping and countervailing duties on Chinese steel pipe imports:

Mr Gerard said that "With thousands of family supporting jobs at stake, we applaud the DOC ruling to protect American workers. When our international trade partners break the law, we rightly depend on our government to enforce it to protect our communities and prevent the continued erosion of our industrial base."

The USW is especially grateful to Senators Sherrod Brown and Rob Portman of Ohio for their leadership in calling on DOC to prevent Chinese pipe producers from exploiting a loophole that would have enabled them to avoid existing antidumping and countervailing duties by changing a product's 'country of origin' after minor alterations elsewhere.

Domestic manufacturers have been dealing with the consequences of unfair foreign trade for decades, and we remain committed to fight to level the playing field for American workers to compete globally.

The USW represents 850,000 men and women employed in metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy producing industries, along with a growing number of workers in public sector and service occupations.

Source – Strategic Research Institute

voda 15 februari 2014 15:16

0

Greek steelworks suspends 95pct of employees

Despite trying to find ways to keep Halyvourgiki open, the plant’s operator had announced earlier that he is forced to cease the majority of operations at the Greek steelworks, suspending around 95% of its employees.

The owner of the plant, which is located in the industrial area of Aspropyrgos in Athens, Konstantinos Aggelopoulos has decided to put the majority of production on hold, maintaining only the employees involved in the trading of steel and guarding of the facility, while temporarily suspending 200 out of the total 263 steelworkers.

For six weeks starting Monday, February 17th until March 31st 2014, suspended employees will receive only 50% of their regular salary, with an additional 10% provided as unemployment benefit. During the past several months, 148 employees had already left their jobs at Halyvourgiki through voluntary early retirement schemes, while those who stayed saw their salaries cut by 20%.

According to reports, the main reason behind the suspension of the production lies in the very high energy costs which are required for keeping the plant operational and which the company can no longer meet. In the past months, the plant operated only for night shifts, when electricity was charged at a reduced rate. Meanwhile, sales have also declined, exports have become more damaging than profitable and the obligations of the industry towards banks have increased.

Sales for 2012 were reduced by 70.62% compared to 2011, as the EUR 194.77 million turnover in 2011 dropped to EUR 57.23 million in 2012. In 2011, Halyvourgiki achieved exports totaling EUR 550 million, which in 2012 dropped to EUR 300 million, thus becoming non profitable. The total bank obligations of Halyvourgiki currently exceed EUR 1 billion.

The suspension of operations of Halyvourgiki comes after the closure of two other big steelworks in Greece during the last years; the company Sovel in Almyros, Magnisia and Hellenic Halyvourgia owned by the Manesis family, also located in Aspropyrgos.

The company’s iron rods and girders helped build the Athens metro, the Olympic stadium and the bridge linking Peloponnese to mainland Greece, giving jobs to many families living in the factory’s surrounding area. The company has seen many of its industrial facilities being shut down, as well as many lay-offs during the recent years of recession in Greece.

Source – Greece.greekreporter.com

voda 15 februari 2014 15:17

0

Paraguay steel flats imports surge by 26pct in Jan

It’s reported that Paraguay’s imports of steel flat products including cold rolled coils, hot rolled coils and zincalume sheet totaled 9,045 tonnes in January, soaring by 25.6% YoY and increasing by 3.7% from a month ago.

In January, the imports of hot rolled coils totaled 3,857 tonnes rising from 3,012 tonnes in the same of 2013 and higher than 3,507 tonnes in last December. The import prices averaged at USD 699 per tonne FOB up slightly from USD 702 per tonne FOB in last December.

Meanwhile, the imports of cold rolled coils totaled 3,322 tonnes in January; those of zincalume sheets totaled 2,885 tonnes.

Source - www.yieh.com

voda 15 februari 2014 15:18

0

China Steel imports and exports in Jan 2014

According to statistics from the General Administration of Customs, China imported 1.35 million tonnes of steel products in January 2014 up 21.6% or 240,000 tonnes from a year earlier. The figure represented MoM gain of 11.6% on a daily basis.

Exports of steel products in January amounted to 6.77 million tonnes, an increment of 37.3% or 1.84 million tonnes from the same month last year. Compared to a month earlier, it posted a growth of 25.8% on a daily basis. Net exports in January were 5.42 million tonnes, up 41.9 percent or 1.6 million tonnes compared to year ago level.

China’s exports of steel products in January recorded the highest level since September, 2008. On a crude basis, net exports hit 5.77 million tonnes jumping 43.4% or 1.74 million tonnes from the preceding year. On a daily basis, it represented a rise of 31.2% from the previous month.

In January, China's iron ore imports hit record high at 86.83 million tonnes up 32.5% or 21.29 million tonnes YoY. Compared to December 2013, it posted a gain of 13.45 million tonnes. Daily imports were 2.801 million tonnes, rising by 18.3% MoM. Average import price was USD 130.74 per tonne up USD 3.06 per tonne versus December last year.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 15 februari 2014 15:23

0

ArcelorMittal Temirtau puts mass layoffs rumors to rest

The world's largest steel maker ArcelorMittal Temirtau promises not to cut the workforce in Kazakhstan. The situation is closely monitored by governor of the Karaganda region Baurzhan Abdishev.

The Karaganda regional administration said that the company has made a decision to steer away from mass redundancies and preserve workplaces.

Since December 2013, Kazakhstani mass media have numerously addressed the rumor that company plans harsh downsizing. It was believed that nearly 2 500 ArcelorMittal Temirtau employees are going to lose their job.

ArcelorMittal Temirtau plans to launch a big investment project in September 2014 a blast furnace ?3 that is slated to boost company's production. The future looks quite optimistic and there is no need for mass layoffs.

Source – Inform.kz

voda 16 februari 2014 15:11

0

22 new blast furnaces were put into production in 2013 in China

According to statistics released by China Iron and Steel Association, 27 blast furnaces were put into production in China in 2013, of which 22 blast furnaces were newly added, 5 blast furnaces underwent overhaul and technology upgrading, that is: BF of Jinan Steel, No. 1 BF of Sichan Dazhou Steel, No 1 & No. 2 BF of Jiuquan Steel and No. 10 BF of Anshan Steel.

The newly added 22 iron making blast furnaces have an overall capacity of 28000 cubic meters. The pig iron capacity is around 25 million tonnes calculated by the designed capability. It is noticeable that the number of newly-added BF in 2013 is 16 less than that of 2012, and the overall capacity in 2013 is 50% less than that of 2012.

Statistics showed that 6 blast furnaces are located in East China, 4 in North China and Northwest China, 3 in Southwest China and South Central China and 2 in Northeast China. Among them, the capacity of 3 blast furnaces in South Central China reaches 9347 cubic meters, accounting for over 30% of the overall capacity

According to statistics, 15 blast furnaces are run by private enterprises with capacity of 14850 cubic meters, 7 are owned by state owned and state holding enterprises with capacity of 13800 cubic meters; the capacity of the largest one among the 7 is 4747 cubic meters, that of the smallest one is 1080 cubic meters.

However, private enterprises’ furnace profile mainly are 450 cubic meters, 600 cubic meters, 1080 cubic meters, 1260 cubic meters, 1780 cubic meters, etc.

Source - www.steelhome.cn/en
China steel information centre and industry database

voda 16 februari 2014 15:12

0

Ilva owner Emilio Riva indicted for tax fraud

ANSA reported that a preliminary hearings judge in Milan indicted the owner of the troubled ILVA steelworks in Taranto for an alleged massive tax fraud.

Emilio Riva was indicted together with two former company managers and a former Deutche Bank manager for tax evasion to the tune of EUR 52 million . The four are accused of declaring false losses in 2007 in order to pay less tax in Italy.

Finance police say that year's profits were transferred abroad to countries with more favourable tax regimes. Italy's inland revenue agency subsequently disputed the return and Ilva has since paid out around EUR 65 million.

Source - ANSA

voda 16 februari 2014 15:14

0

China iron ore import reach new record at 87 MT in Jan

According to bulletin news from China Customs, China imported 86.83 million tonnes of iron ore in January up 21.29 million tonnes YoY or 13.45 million tonnes month on month. Daily import increased 18.3% from December to 2.801 million tonnes; Average import price in the month was USD 130.74 per MT compared to USD 127.68 per MT in December, cif.

Background Information:
Spot iron ore prices retreat to the lowest level in more than seven months as a weaker Chinese steel market curbed demand. Inventories of iron ore lying in Chinese ports are rising sharply since late October in 2013.

Analysts expected shipments to China to have fallen over January, with prices declining to a 6 month low in the month amid growing uncertainty about demand in the country's steel sector. Market sentiment is depressed from weak demand, a lack of credit and a drive by Beijing to clean up the environment.

Source - www.steelhome.cn/en
China steel information centre and industry database

[verwijderd] 17 februari 2014 09:59

0

eets
Nico PR Bakker ?@TheDailyTurbo 4 min.
Voor ARCELOR MITTAL verschijnt een RESISTANCE signaal op het Dashboard, dus geen aankopen doen. Ik sluit de uitstaande TT Long Setup.....
Sluiten Beantwoorden Retweeten Favoriet Meer
00:53 - 17 feb. 2014 · Details

mvliex 1 17 februari 2014 10:18

0

quote:
chettin schreef op 17 februari 2014 09:59:
eets
Nico PR Bakker ?@TheDailyTurbo 4 min.
Voor ARCELOR MITTAL verschijnt een RESISTANCE signaal op het Dashboard, dus geen aankopen doen. Ik sluit de uitstaande TT Long Setup.....
Sluiten Beantwoorden Retweeten Favoriet Meer
00:53 - 17 feb. 2014 · Details

Nico Bakker:

Aantal koop 199
Aantal houd 33
Aantal verkoop 80
Rendement -1,34%

voda 17 februari 2014 16:47

0

ThyssenKrupp makes good operating start to FY 2013-14

Highlight
1. 6% growth in order intake from continuing operations
2. Adjusted EBIT from continuing operations more than doubled to EUR 247 million
3. Significant improvement in free cash flow before divestments further reduction in net financial debt
4. Clear operating improvement at Steel Americas
5. Special items lead to net loss of EUR 69 million for full Group.

The industrial group ThyssenKrupp made a good operating start to the 2013 to 2014 fiscal year. All operating targets for the Q1 were met or exceeded. At EUR 10.7 billion, order intake from continuing operations was significantly higher than in the prior year period (+6%, EUR 10.1 billion). On a comparable basis, ie excluding currency and portfolio effects, order intake gained 10% YoY.

Mr Dr Heinrich Hiesinger CEO of ThyssenKrupp said that "We started the new fiscal year with a good 1st quarter without help from the economy. As expected, the main drivers of our growth were the capital goods businesses."

Elevator Technology for example achieved a new record level of order intake thanks in particular to strong growth in the Asia and Pacific region. 1st quarter order intake at Industrial Solutions showed a further double digit improvement on the high prior year level, thanks in part to a major order from Asia. Components Technology also reported a significant YoY increase in order intake. At EUR 9.1 billion, sales from continuing operations in the Q1 were almost level with the prior year, but on a comparable basis increased by 4%. Adjusted EBIT from continuing operations more than doubled YoY to EUR 247 million.

Mr Hiesinger said that "We have further improved our operating performance and efficiency and are on track to achieve our savings target of €850 million this fiscal year. Apart from Steel Americas all business areas delivered strong positive contributions to earnings in the 1st quarter. The capital goods businesses increased their operating income and adjusted EBIT margins YoY. The losses at Steel Americas were significantly reduced, with adjusted EBIT now showing only a small loss of EUR 17 million.”

Source – Strategic Research Institute

voda 17 februari 2014 16:49

0

TATA Steel's fears if UK leaves the EU

A steel firm which employs about 1,500 people on Teesside said that there’s a danger the UK could become isolated if it leaves the European Union.

In a submission to the Government’s review of Britain’s relationship with the EU, TATA Steel warned that an EU exit would leave the UK isolated and weakened. In revenue terms, approximately 50% of the steel TATA Steel produces in the UK is sold into continental Europe.

As the largest single market in the world, the EU has a strong bargaining position in trade negotiations. Conversely, on its own, as a relatively small market, the UK would not be as attractive for third countries to negotiate with and would not have the same bargaining power.

Outside Europe other countries are becoming more integrated and forming other trading blocs, and there would be a danger that the UK would find itself isolated and without the necessary power to successfully negotiate trade deals. The UK is very successful in attracting investment from non-EU companies setting up facilities in Europe, and one of the selling points is access to the EU internal market.

TATA has Teesside sites at Redcar, Hartlepool and Skinningrove. The company recorded post-tax losses of GBP 840 million in its 2013 annual company results but this week reported a rise in earnings and output in its quaterly results.

The Indian steel producer reported EBITDA (earnings before interest, taxes, depreciation and amortisation) for its European operations at £87m in the three months to December 31. It reported a loss of almost £50m in the same period last year.

Mr Angelika Schneider the Lib Dems’ lead North East Euro candidate said that “As Tata make clear, being part of the world’s biggest trading bloc means we’re able to negotiate much better deals with other countries than we could manage on our own. And that makes us a more attractive destination for companies looking to invest. If we were to leave the EU it would be much tougher for companies based here to compete with continental or global rivals operating under more favourable trade terms.”

Source – Gazettelive.co.uk

voda 17 februari 2014 16:50

0

China daily crude steel production dips in late Jan - CISA

According to statistics from China Iron and Steel Association, daily crude steel production of China's large and medium sized steel mills was 1.6594 million tonnes in late January, down 2.5% or 42,500 tonnes from mid January that of the whole country was estimated to reach 1.964 million tonnes.

Inventory of China's large and medium-sized steel mills totaled 13.6052 million tonnes in late January up 561,400 tonnes or 4.3% versus mid January.

Source - www.steelhome.cn/en
China steel information centre and industry database

Vertraagd	31 okt 2024 17:39
Koers	22,680
Verschil	+0,010 (+0,04%)
Hoog	22,870
Laag	22,490
Volume	1.535.369
Volume gemiddeld	2.409.702
Volume gisteren	1.826.637

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