Steel Times International News
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China’s MIIT to eliminate outdated capacity faster
China’s Ministry of Industry and Information Technology (MIIT) will continue to reinforce the elimination of outdated industrial capacity, and to set higher goals in 2013.
13 March 2013 -
Tata Steel invests €4.5M in The Netherlands
Tata Steel will save 10Mm3 of gas a year − enough to power 5500 homes − at its IJmuiden plant in the Netherlands through the use of newly installed heat-retention boxes.
09 March 2013 -
CRU expects lacklustre 2013 for commodity prices
Commodity prices have had a rough ride dropping considerably between 2011 and 2012; Iron ore is down -22.25% and coking coal -37.11% y-o-y.
05 March 2013 -
M&A targets for China’s ‘super-ten’ are unlikely to be achieved
The Ministry of Industry and Information Technology (MIIT) is to liaise with other ministries to formulate plans for consolidation of the steel sector in China through mergers and acquisitions.
05 March 2013 -
Severstal net profit down 62.6%
Russian headquartered Severstal reported net profit down 62.6% in FY 2012, at $762M (FY 2011 $2035M). Crude steel production was 15.Mt.
05 March 2013 -
Vale’s revenue down 23% y-o-y
Brazilian miner, Vale reported revenues down in 2012 as prices of minerals and metals fell across the board affecting total annual revenues which dropped 23% below that of 2011 to US$46.454bn. Reduced prices of iron ore, US$9.927bn, pellets, US$ 2.106bn, and nickel, US$ 1.144bn, accounted for 95% of the US$13.935bn drop in operating revenues.
04 March 2013
