Appalachian coking coal is proving ever more irresistible to the international steel industry.
Luxembourg-based ArcelorMittal, the world’s largest steelmaker, has agreed to buy its second Appalachian coal company in a month.
ArcelorMittal’s latest acquisition target, West Virginia’s Concept Group, owns some 57 million tons of reserves in the state. And those reserves, which produced some 800,000 tons of coal destined for coke furnaces and ultimately integrated steel mills, are located next door to Mid Vol Coal Group and its 85 million tons of coking reserves, which ArcelorMittal bought last month. Mid Vol produced 1.5 million tons of coal from West Virginia and Virginia mines last year.
“With raw material costs continuing to soar, increasing our upstream self sufficiency in primary raw materials is a critical component of ArcelorMittal’s growth strategy,” executive Sudhir Maheshwari said in a statement. “Concept’s proximity to Mid Vol’s operations means we can draw on the strengths of both companies to increase their combined production capacity.”
The price of U.S. coal used to make the coke that fuels the blast furnaces can go for as much as $250 a ton. Just last year, the cost was closer to $90.
Steelmakers already face pressure from customers — manufacturers that make everything from automobiles and aircraft to washing machines and refrigerators. Steel producers are doing everything they can to control soaring prices for iron ore, metallurgical coal and scrap steel.
The deal ArcelorMittal announced Monday is but the latest in a growing number of coal acquisitions by the steel industry, which increasingly sees owning its own sources of coal as critical to controlling soaring costs for scrap metal, fuel and other essentials.
ArcelorMittal recently upped its stake in Australia’s Macarthur Coal. Iron ore miner Cleveland-Cliffs picked off a smaller West Virginia and Alabama operator a year ago and just last week boldly bid nearly $10 billion for Abingdon, Va.-based Alpha Natural Resources. That deal gives Cleveland-Cliffs potential access to vast supplies of coking, or metalurgical-grade, coal across parts of West Virginia, Virginia, Kentucky and Pennsylvania.
International mining conglomerate BHP Billiton Ltd. is attempting a $170 billion takeover of rival London-based Rio Tinto Inc. and Korean steel giant Posco has bought 10 percent of Macarthur Coal. Russian steelmaker OAO Severstal is openly shopping for coal mines.
FIND MORE :
· Russia’s Leading Uranium Miner To Set Up JV With France’s Areva
· Mine Drilling Project Raytec’s Athabasca Uranium Projects
· Uranium Mine Exploration, Kazakhstan Targets Top Spot in Uranium Production
· Coal Mine Exploration Accident in China, 56 Trapped In Coal Mine
· Coal Mine and Steelmaker Industry Expand, Arcelormittal Agreed To Buy Second Appalachian Coal Company
Showing posts with label Steel. Show all posts
Showing posts with label Steel. Show all posts
Friday, August 8, 2008
Mining News-Baffinland Resumes Full Ore Haulage of Bulk Sample Program
TORONTO, ONTARIO–(MARKET WIRE)–Aug 5, 2008 — Baffinland Iron Mines Corporation (”Baffinland” or the “Company”)(Toronto:BIM.TO - News) announced today that it has resumed full ore haulage operations associated with the shipment of the bulk sample (the “Bulk Sample Program”) between Mary River and Milne Inlet on the tote road.
Since resuming the ore haul during late July, an additional 12,000 tonnes of high grade iron ore have been hauled to the Milne Inlet stockpile. Completion of the tote road remediation program was consistent with the schedule assumptions made in association with the revised bulk sample program. Haulage road access has also been reestablished to Deposit No. 1 and drilling, blasting, and crushing operations are expected to resume early this week. The company is on track to meeting the revised bulk sample shipment targets.
Baffinland previously announced revised targets for the shipment of high grade iron ore under its Bulk Sample Program from its Mary River deposit on Baffin Island to key European blast furnace operators in 2008. Baffinland anticipates the shipment of between 120,000 tonnes and 150,000 tonnes of iron ore to be shipped to steelmakers in three trial cargos, of which two will be lump and one of iron ore fines.
The haulage and stevedoring equipment required to complete the bulk sample are on site, and a bulk carrier, the Federal Franklin, managed by Fednav Limited, has been nominated to deliver two ore cargos to Europe. Fednav will be nominating a second vessel in the near future. Ship loading arrangements have now been scheduled with these parties and discharge port arrangements are under discussion with customers in Europe.
Gordon McCreary, President and CEO, indicated, “We are pleased to announce the resumption of ore haulage on the upgraded tote road and are confident that the revised targets, and the original objectives, associated with our bulk sample program will all be met.”
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada.
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management’s future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements made about the mining of the bulk sample and the shipment of bulk sample ore to Europe, the anticipated completion of the bulk sample technical objectives, statements concerning progress, execution, completion and planning developments associated with the bulk sample including timing and amount of ore shipped, and statements that the Company is on track to meeting the revised bulk sample shipment targets and that the revised bulk sample target will meet program objectives, and that 120,000 to 150,000 tonnes of ore will be shipped in three cargos in 2008, and statements made regarding the ratio of lump ore to iron ore fines, are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements and initial capital costs, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at Baffinland’s Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. Without limitation, when stating that the Company is on track to meeting the revised bulk sample shipment targets, that the Company anticipates shipping 120,000 to 150,000 tonnes of ore to European steelmakers in three cargos, and that two cargos will be lump ore and one cargo will be iron ore fines, the Company has assumed that the ore haulage will progress at a rate of 2,000 tonnes per day, that mechanical availability on the truck haulage fleet will average 75%, that past proven drilling, blasting and crushing rates will be maintained until completion of the bulk sample, that Fednav Limited will supply, load and ship the three loads of high grade ore and that this will be accomplished before freeze up and that freeze up will occur as per historical timelines. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration and development of mineral deposits, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, including the risk of changes in capital and operation costs, regulatory risks, including risks relating to the acquisition of the necessary licences and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time.
Contact:
Contacts:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
(416) 814-3163
Baffinland Iron Mines Corporation
Rodney A. Cooper
Vice President, Operations and COO
(416) 814-3158
Email: info@baffinland.com
Website: http://www.baffinland.com
Source: Baffinland Iron Mines Corporation
Since resuming the ore haul during late July, an additional 12,000 tonnes of high grade iron ore have been hauled to the Milne Inlet stockpile. Completion of the tote road remediation program was consistent with the schedule assumptions made in association with the revised bulk sample program. Haulage road access has also been reestablished to Deposit No. 1 and drilling, blasting, and crushing operations are expected to resume early this week. The company is on track to meeting the revised bulk sample shipment targets.
Baffinland previously announced revised targets for the shipment of high grade iron ore under its Bulk Sample Program from its Mary River deposit on Baffin Island to key European blast furnace operators in 2008. Baffinland anticipates the shipment of between 120,000 tonnes and 150,000 tonnes of iron ore to be shipped to steelmakers in three trial cargos, of which two will be lump and one of iron ore fines.
The haulage and stevedoring equipment required to complete the bulk sample are on site, and a bulk carrier, the Federal Franklin, managed by Fednav Limited, has been nominated to deliver two ore cargos to Europe. Fednav will be nominating a second vessel in the near future. Ship loading arrangements have now been scheduled with these parties and discharge port arrangements are under discussion with customers in Europe.
Gordon McCreary, President and CEO, indicated, “We are pleased to announce the resumption of ore haulage on the upgraded tote road and are confident that the revised targets, and the original objectives, associated with our bulk sample program will all be met.”
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada.
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management’s future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements made about the mining of the bulk sample and the shipment of bulk sample ore to Europe, the anticipated completion of the bulk sample technical objectives, statements concerning progress, execution, completion and planning developments associated with the bulk sample including timing and amount of ore shipped, and statements that the Company is on track to meeting the revised bulk sample shipment targets and that the revised bulk sample target will meet program objectives, and that 120,000 to 150,000 tonnes of ore will be shipped in three cargos in 2008, and statements made regarding the ratio of lump ore to iron ore fines, are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements and initial capital costs, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at Baffinland’s Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. Without limitation, when stating that the Company is on track to meeting the revised bulk sample shipment targets, that the Company anticipates shipping 120,000 to 150,000 tonnes of ore to European steelmakers in three cargos, and that two cargos will be lump ore and one cargo will be iron ore fines, the Company has assumed that the ore haulage will progress at a rate of 2,000 tonnes per day, that mechanical availability on the truck haulage fleet will average 75%, that past proven drilling, blasting and crushing rates will be maintained until completion of the bulk sample, that Fednav Limited will supply, load and ship the three loads of high grade ore and that this will be accomplished before freeze up and that freeze up will occur as per historical timelines. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration and development of mineral deposits, risks relating to changes in iron ore prices and the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, including the risk of changes in capital and operation costs, regulatory risks, including risks relating to the acquisition of the necessary licences and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation and does not undertake to update this information at any particular time.
Contact:
Contacts:
Baffinland Iron Mines Corporation
Gordon A. McCreary
President and CEO
(416) 814-3163
Baffinland Iron Mines Corporation
Rodney A. Cooper
Vice President, Operations and COO
(416) 814-3158
Email: info@baffinland.com
Website: http://www.baffinland.com
Source: Baffinland Iron Mines Corporation
Mining News-Rncos Releases Report On Opportunities In Indian Steel Industry
Mining News-RNCOS’ released a market research report titled “Opportunities in Indian Steel Industry” , which shows the ‘Indian Steel industry’ has shown the second highest growth rate for steel production in Asia after China in 2006.
(1888PressRelease) January 05, 2008 - RNCOS’ released a market research report titled “Opportunities in Indian Steel Industry” , which shows the ‘Indian Steel industry’ has shown the second highest growth rate for steel production in Asia after China in 2006. With a GDP growth of around 8% in 2005-06, Indian economy as well as the industrial development got a boost and this helped to shape the increasing steel demand and production in India.
The report “Opportunities in Indian Steel Industry” undertakes a detailed analysis of the forces that have shaped the Indian steel industry in order to predict the future trends and prospects.
Industry Performance
This section gives a detailed analysis of steel industry in India. This section looks into the factors that have influenced the industry over a period of time, like steel production and raw materials, steel consumption, and export-import of steel products etc. The section also puts forth a comprehensive analysis on the fluctuating performance of the Indian steel industry.
Key Players Analyzed
In this section, business overview and financial facts of key players including, Steel Authority of India, Tata Iron & Steel Company Limited, Ispat Industries Limited, and Essar Steel Limited, are provided for better understanding of the competitive environment in the industry.
Key Issues and Facts Analyzed
- What will be the future demand and production capacity for steel industry?
- What are the growth opportunities for the steel manufacturers?
- What are the major driving factors for the steel industry?
- What will be the major constraints for future growth of steel industry?
- Who are the key competitors in the Indian steel industry?
Research Methodology Used
Information Sources
The information has been compiled from various authentic and reliable sources like books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.
Analysis Method
Methods like historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used to prudently analyze the report.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM540.htm
Current Industry News: http://www.rncos.com/Blog/
(1888PressRelease) January 05, 2008 - RNCOS’ released a market research report titled “Opportunities in Indian Steel Industry” , which shows the ‘Indian Steel industry’ has shown the second highest growth rate for steel production in Asia after China in 2006. With a GDP growth of around 8% in 2005-06, Indian economy as well as the industrial development got a boost and this helped to shape the increasing steel demand and production in India.
The report “Opportunities in Indian Steel Industry” undertakes a detailed analysis of the forces that have shaped the Indian steel industry in order to predict the future trends and prospects.
Industry Performance
This section gives a detailed analysis of steel industry in India. This section looks into the factors that have influenced the industry over a period of time, like steel production and raw materials, steel consumption, and export-import of steel products etc. The section also puts forth a comprehensive analysis on the fluctuating performance of the Indian steel industry.
Key Players Analyzed
In this section, business overview and financial facts of key players including, Steel Authority of India, Tata Iron & Steel Company Limited, Ispat Industries Limited, and Essar Steel Limited, are provided for better understanding of the competitive environment in the industry.
Key Issues and Facts Analyzed
- What will be the future demand and production capacity for steel industry?
- What are the growth opportunities for the steel manufacturers?
- What are the major driving factors for the steel industry?
- What will be the major constraints for future growth of steel industry?
- Who are the key competitors in the Indian steel industry?
Research Methodology Used
Information Sources
The information has been compiled from various authentic and reliable sources like books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.
Analysis Method
Methods like historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used to prudently analyze the report.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM540.htm
Current Industry News: http://www.rncos.com/Blog/
Mining News-New Report Says India Is Experiencing Fast Growth In Steel Industry
In India, the research identifies Jharkhand and Orissa as the most potential steel producing destinations. These two states, due to multiple reasons, are attracting increasing number of steel projects. The research counts several big steel projects that have been inked by the Indian government and prominent steel producers.
(1888PressRelease) January 12, 2008 - Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that in 2006, India emerged as the second largest steel producer in terms of growth rate in Asia after China. Also, the country remained the seventh largest producer of crude steel that year.
“Opportunities in Indian Steel Industry” (http://www.reportbuyer.com/go/RCS00209) reports that due to fast growth in the industry, domestic players are expanding their steel production capacity to benefit from the opportunity. Apart from the domestic makers, foreign players too are staking high on this thriving sector to rake in the profits.
In India, the research identifies Jharkhand and Orissa as the most potential steel producing destinations. These two states, due to multiple reasons, are attracting increasing number of steel projects. The research counts several big steel projects that have been inked by the Indian government and prominent steel producers.
Authors of the report note that the Indian government is working in the direction of taking the steel industry to growth road. The report outlines various development programs undertaken by the government to fortify the position of the Indian steel industry. It also looks into the future development programs of the government which will spur growth in the steel demand in the years to come.
The report evaluates the industry and tries to find out the reasons for the phenomenal growth being witnessed in the Indian steel industry. The industry is full of potential for both steel production and consumption in India and is slowly gaining the global attention.
The study counts several factors responsible for the excelling Indian steel industry. It also briefs on how liberalization in the Foreign Direct Investment (FDI) has spurred growth in the Indian steel industry.
“Opportunities in Indian Steel Industry” is available from Report Buyer.
Report Buyer product ID: RCS00209
About Report Buyer.
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 40,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.
http://www.reportbuyer.com/
(1888PressRelease) January 12, 2008 - Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that in 2006, India emerged as the second largest steel producer in terms of growth rate in Asia after China. Also, the country remained the seventh largest producer of crude steel that year.
“Opportunities in Indian Steel Industry” (http://www.reportbuyer.com/go/RCS00209) reports that due to fast growth in the industry, domestic players are expanding their steel production capacity to benefit from the opportunity. Apart from the domestic makers, foreign players too are staking high on this thriving sector to rake in the profits.
In India, the research identifies Jharkhand and Orissa as the most potential steel producing destinations. These two states, due to multiple reasons, are attracting increasing number of steel projects. The research counts several big steel projects that have been inked by the Indian government and prominent steel producers.
Authors of the report note that the Indian government is working in the direction of taking the steel industry to growth road. The report outlines various development programs undertaken by the government to fortify the position of the Indian steel industry. It also looks into the future development programs of the government which will spur growth in the steel demand in the years to come.
The report evaluates the industry and tries to find out the reasons for the phenomenal growth being witnessed in the Indian steel industry. The industry is full of potential for both steel production and consumption in India and is slowly gaining the global attention.
The study counts several factors responsible for the excelling Indian steel industry. It also briefs on how liberalization in the Foreign Direct Investment (FDI) has spurred growth in the Indian steel industry.
“Opportunities in Indian Steel Industry” is available from Report Buyer.
Report Buyer product ID: RCS00209
About Report Buyer.
Report Buyer is a UK-based independent online store supplying business information on major industry sectors. These include the Automotive Industry, Banking & Finance, Energy & Utilities, Food & Drink, Telecoms and Pharma & Healthcare. The website now carries over 40,000 business information products, including market reports, studies and books. Report Buyer is the intelligent way to buy market research making it an essential resource for executives and information buyers worldwide. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.
http://www.reportbuyer.com/
Mining News-Beijing Plans To Cut Iron Ore Port Stocks
Beijing plans to reduce the huge iron ore stocks at Chinese ports to curb soaring freight rates, which are hampering 2008 price negotiations with Australian mines, the official Shanghai Securities News said on Tuesday.
(1888PressRelease) May 21, 2008 - From http://supplier-steel.com/ - check out the steel news all over the globe here. Beijing plans to reduce the huge iron ore stocks at Chinese ports to curb soaring freight rates, which are hampering 2008 price negotiations with Australian mines, the official Shanghai Securities News said on Tuesday.
Quoting unnamed sources familiar with the situation, the newspaper said the move should help to break a deadlock in price negotiations between Chinese steel mills and Australian miners BHP Billiton Ltd/Plc and Rio Tinto.
The newspaper gave no details on how the government planned to reduce the ports’ iron ore stocks and government officials were not immediately available for comment.
Asian steelmakers are locked in negotiations with the Australian miners, which are demanding a freight premium to make up for the difference in transport costs with Brazilian miner Vale which has already agreed to a deal.
With April iron ore imports reaching 42.85 million tonnes, their highest monthly level ever, port stocks were estimated at about 62 million tonnes as of end-April, and imports continue to arrive faster than stocks can be sold.
The huge stocks have filled up port yards, causing serious congestion at Chinese ports and adding to upward pressure on freight rates for dry bulk cargoes.
The benchmark Baltic Dry Index hit a record of 11,709 overnight, helped by strong demand for raw materials in China and port congestion in various regions, including
(1888PressRelease) May 21, 2008 - From http://supplier-steel.com/ - check out the steel news all over the globe here. Beijing plans to reduce the huge iron ore stocks at Chinese ports to curb soaring freight rates, which are hampering 2008 price negotiations with Australian mines, the official Shanghai Securities News said on Tuesday.
Quoting unnamed sources familiar with the situation, the newspaper said the move should help to break a deadlock in price negotiations between Chinese steel mills and Australian miners BHP Billiton Ltd/Plc and Rio Tinto.
The newspaper gave no details on how the government planned to reduce the ports’ iron ore stocks and government officials were not immediately available for comment.
Asian steelmakers are locked in negotiations with the Australian miners, which are demanding a freight premium to make up for the difference in transport costs with Brazilian miner Vale which has already agreed to a deal.
With April iron ore imports reaching 42.85 million tonnes, their highest monthly level ever, port stocks were estimated at about 62 million tonnes as of end-April, and imports continue to arrive faster than stocks can be sold.
The huge stocks have filled up port yards, causing serious congestion at Chinese ports and adding to upward pressure on freight rates for dry bulk cargoes.
The benchmark Baltic Dry Index hit a record of 11,709 overnight, helped by strong demand for raw materials in China and port congestion in various regions, including
Mining News-The Price Increasing Of Steel In EU Is Continuing – More Increases Expected
EU prices continue to increase. The mills are insisting that they must go up again in period three to reflect the rising costs of production. The initiatives are likely to be accepted due to a lack of any competitively priced alternatives.
(1888PressRelease) May 23, 2008 - EU prices continue to increase. The mills are insisting that they must go up again in period three to reflect the rising costs of production. The initiatives are likely to be accepted due to a lack of any competitively priced alternatives. Import volumes into Europe remain very low and this is contributing to already limited availability from local steelmakers. The soaring prices are clearly not driven by demand, which is relatively modest. Inventories, generally, are not growing because it is too costly to finance steel stocks.
The German mills are talking of hefty price rises on strip mill products in the third quarter. Service centre inventories of commodity grade coil are adequate with some buyers refusing to place further orders at present. However, availability of the higher specifications appears to be more constrained and some gaps are appearing. Real demand is no better than “normal”. The strong Euro continues to have a negative effect on exports of manufactured goods.
In France, sales of coil are described as “average”, although some improvement is noted in the automotive sector, as one of France’s two major car manufacturers is ordering extra material on top of its usual annual requirements. Producers are said to be considering a basis rise of at least €100 per tonne. Under current market conditions, prices are not open for negotiation so buyers are placing business not knowing the final cost. They complain that they cannot get enough tonnage.
Italian values have continued to move up, albeit at a slower pace, despite fairly flat underlying consumption. Now that the new government is in place, customers feel that public investment could grow in the longer-term but no immediate improvement is expected. Import pressure is modest, leaving buyers with little or no alternative but to accept higher prices from local producers who are using inflated raw material costs to justify their demands. Suppliers are talking of further hikes next month.
UK consumption is far from robust. Even the auto sector is softening. Nevertheless, steel selling values for the remainder of period two continue to move up as availability is poor. Traders’ stocks are shrinking rapidly as it becomes increasingly difficult to secure new supplies. Service centre inventories are also depleted because they cannot afford to build them up, partly due to limitations on credit. Shortages are beginning to occur. Some distributors are struggling to recoup the mill increases from end-users.
In Belgium, the manufacturing and construction sectors are performing well. Inventories are low at the consumers because of the high costs of finance. Service centre stocks are described as “reasonable but not excessive” with holes appearing for certain grades/sizes. So far, distributors are recovering the higher prices they are paying the mills.
Spanish demand is stagnant at best and expected to decline further because of the generally poor economic situation. Meanwhile, prices continue on an upward trend, amidst a lack of credit availability. Customers are only buying what they need and are keeping inventories to a minimum.
(1888PressRelease) May 23, 2008 - EU prices continue to increase. The mills are insisting that they must go up again in period three to reflect the rising costs of production. The initiatives are likely to be accepted due to a lack of any competitively priced alternatives. Import volumes into Europe remain very low and this is contributing to already limited availability from local steelmakers. The soaring prices are clearly not driven by demand, which is relatively modest. Inventories, generally, are not growing because it is too costly to finance steel stocks.
The German mills are talking of hefty price rises on strip mill products in the third quarter. Service centre inventories of commodity grade coil are adequate with some buyers refusing to place further orders at present. However, availability of the higher specifications appears to be more constrained and some gaps are appearing. Real demand is no better than “normal”. The strong Euro continues to have a negative effect on exports of manufactured goods.
In France, sales of coil are described as “average”, although some improvement is noted in the automotive sector, as one of France’s two major car manufacturers is ordering extra material on top of its usual annual requirements. Producers are said to be considering a basis rise of at least €100 per tonne. Under current market conditions, prices are not open for negotiation so buyers are placing business not knowing the final cost. They complain that they cannot get enough tonnage.
Italian values have continued to move up, albeit at a slower pace, despite fairly flat underlying consumption. Now that the new government is in place, customers feel that public investment could grow in the longer-term but no immediate improvement is expected. Import pressure is modest, leaving buyers with little or no alternative but to accept higher prices from local producers who are using inflated raw material costs to justify their demands. Suppliers are talking of further hikes next month.
UK consumption is far from robust. Even the auto sector is softening. Nevertheless, steel selling values for the remainder of period two continue to move up as availability is poor. Traders’ stocks are shrinking rapidly as it becomes increasingly difficult to secure new supplies. Service centre inventories are also depleted because they cannot afford to build them up, partly due to limitations on credit. Shortages are beginning to occur. Some distributors are struggling to recoup the mill increases from end-users.
In Belgium, the manufacturing and construction sectors are performing well. Inventories are low at the consumers because of the high costs of finance. Service centre stocks are described as “reasonable but not excessive” with holes appearing for certain grades/sizes. So far, distributors are recovering the higher prices they are paying the mills.
Spanish demand is stagnant at best and expected to decline further because of the generally poor economic situation. Meanwhile, prices continue on an upward trend, amidst a lack of credit availability. Customers are only buying what they need and are keeping inventories to a minimum.
Thursday, August 7, 2008
Mining News-Rncos Releases Report On Us Steel Industry
RNCOS’ released a report named “US Steel Industry Outlook (2007)” that provides extensive research and objective analysis of US steel Industry.
(1888PressRelease) December 28, 2007 - RNCOS’ released a report named “US Steel Industry Outlook (2007)” that provides extensive research and objective analysis of US steel Industry. This report helps clients to analyze the leading-edge opportunities critical to the success of steel industry in US.
The detailed data and analysis in the report, “US Steel Industry Outlook (2007)”, will help the potential investors, businesses, analysts, and other individuals and organizations to navigate through the evolving market for steel.
US Steel industry has prospered and geographically diversified along with the economic growth in the United States. Past decade had been quite tough for the industry because of the adverse market conditions and inherent problems of the Steel industry. This report by RNCOS undertakes a detailed analysis of the forces that have shaped the US Steel industry in order to predict the future trend and prospects.
Key Issues and Facts Analyzed
- Future potential of the industry.
- Who are the key competitors in the US Steel industry?
- What opportunities exist for the steel manufacturers in United States?
- What are the success & sensitivity factors for the industry?
- What will be the major driving forces for the industry?
Key Players Analyzed
This section provides a complete overview of key players including, Mittal Steel Company N.V., Nucor Corporation, US Steel Corporation, IPSCO, Inc. and Wheeling-Pittsburgh Corporation.
Research Methodology Used
Information Sources
The information has been compiled from authentic and reliable sources like Books, Newspapers, Trade Journals, and White papers, Industry portals, Government Agencies, Trade associations, Monitoring Industry News and developments, and Access to more than 3000 paid databases.
Analysis Method
Methods like Ratio Analysis, Historical Trend Analysis, Linear Regression Analysis using software tools, Judgmental Forecasting and Cause and Effect Analysis have been used in the report for prudent analysis.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM528.htm
Current Industry News: http://www.rncos.com/Blog/
(1888PressRelease) December 28, 2007 - RNCOS’ released a report named “US Steel Industry Outlook (2007)” that provides extensive research and objective analysis of US steel Industry. This report helps clients to analyze the leading-edge opportunities critical to the success of steel industry in US.
The detailed data and analysis in the report, “US Steel Industry Outlook (2007)”, will help the potential investors, businesses, analysts, and other individuals and organizations to navigate through the evolving market for steel.
US Steel industry has prospered and geographically diversified along with the economic growth in the United States. Past decade had been quite tough for the industry because of the adverse market conditions and inherent problems of the Steel industry. This report by RNCOS undertakes a detailed analysis of the forces that have shaped the US Steel industry in order to predict the future trend and prospects.
Key Issues and Facts Analyzed
- Future potential of the industry.
- Who are the key competitors in the US Steel industry?
- What opportunities exist for the steel manufacturers in United States?
- What are the success & sensitivity factors for the industry?
- What will be the major driving forces for the industry?
Key Players Analyzed
This section provides a complete overview of key players including, Mittal Steel Company N.V., Nucor Corporation, US Steel Corporation, IPSCO, Inc. and Wheeling-Pittsburgh Corporation.
Research Methodology Used
Information Sources
The information has been compiled from authentic and reliable sources like Books, Newspapers, Trade Journals, and White papers, Industry portals, Government Agencies, Trade associations, Monitoring Industry News and developments, and Access to more than 3000 paid databases.
Analysis Method
Methods like Ratio Analysis, Historical Trend Analysis, Linear Regression Analysis using software tools, Judgmental Forecasting and Cause and Effect Analysis have been used in the report for prudent analysis.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.
For more information visit: http://www.rncos.com/Report/IM528.htm
Current Industry News: http://www.rncos.com/Blog/
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