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voda 9 augustus 2017 17:15

0

Slovak Supreme Court unblocks lands under US Steel Kosice

Slovak Spectator reported that Slovakian Supreme Court has unblocked the plots under the US Steel Košice plant after scrapping the right of lien on its premises issued in March in favour of an American shell company, Adams & Co. Supreme Court’s spokesperson Boris Urban?ík said “The decision on the matter was issued on July 11, turning down the ruling of the Košice Regional Court.”

The dispute with Adams & Co dates back to 1999, with the shell company demanding EUR 16 million from the steelworks. The total value of the dispute with interests exceeds EUR 50 million.

The right of lien in relation to two thirds of the land owned by US Steel Košice is still marked in the real estate cadastre, but it is possible it will be removed in the following days. The cadastre office received a proposal to implement the changes, but the public statement does not state whether it concerns the eradication of the regional court’s decision.

It is still not clear why the Supreme Court decided to turn down the right of lien, since the explanation will be published later. Several lawyers addressed by Sme, however, doubted the regional court’s ruling in the past.

Source : Slovak Spectator

Bijlage:

voda 9 augustus 2017 17:17

0

Expanding the knowledge base for steel - Mr Sushim Banerjee

Mr Sushim Banerjee DG of Institute of Steel Growth and Development in his personal capacity wrote for Financial Express that the recent experience has firmly established that the positive correlation between GDP growth and consumption of steel that was strong only a few years back has slowed down appreciably. Non-steel sectors are contributing more to the growth of GDP. Similar is the case with regard to investment and steel consumption. While the share of GFCF as a % of GDP has been steadily declining from 31.7% in FY15 to 29.5% in FY17, the steel intensity in investment has also been moving southwards. As this trend is happening in the most critical phase of our economy when capacity augmentation plans especially under brown field expansion by the steel majors are underway, there is a big challenge to achieve a quantum jump in steel use in the country that the NSP 2017 has envisaged from the current level of 83.5 MT in FY17 to around 230 MT in FY31. This aspect brings back the central theme of steel promotion in the country.

Promoting a product like steel involves taking into consideration a whole gamut of relevant factors beginning from the knowledge of the product – its metallurgical, mechanical and chemical properties and applications gathered out of experience, studies, research and use, disseminating that knowledge among the target segments – the students of engineering colleges, the faculties, the professionals in architecture, structural engineering and the policy planners including government agencies. They are the ambassadors for steel who would advise the users to use steel in various applications in the most cost effective and optimum manner. It is imperative that along with short-term modules for conducting training programmes spanning for 2-4 days on the advantages of steel use compared to alternate materials like RCC, aluminium and plastic, the students of metallurgy and material science, mechanical, electrical, civil, environment science need to be exposed to the various uses of steel.

Annual competitions of steel designs on a contemporary topic for the architecture and civil and structural engineering students would generate massive enthusiasm among these early birds to promote the cause of steel when they choose design and consultancy in their careers. There is a strong case to introduce steel orientation in the undergraduate civil engineering courses by making two semesters on steel in place of one semester. This change in syllabus by AICTE, MHRD and IITs would make a sea change in the attitude, orientation and quality of the engineering students towards more steel use.

It has been the experience that young engineers and professionals, junior engineers in various government departments including railways, CPWD, PWD, PHED, urban development ministries including housing, road and surface transport, shipping, civil aviation, defence, rural development need to be trained through short-term modular courses on steel design as per latest codes and standards, fabrication, erection, connection, steel properties, profile range, supply capabilities of indigenous manufacturers and familiarity with the BIS and NBC codes. These groups of young engineers working at important government departments engaged in executing a number of infrastructural construction projects are involved in selecting the EPC contractors in the open bids and monitoring the complete execution of the projects.

It is necessary that steel as a preferred choice of material gets a mention in the tender document in terms of life cycle analysis (LCA) which has already been incorporated in the general finance rules (GFR) as a criterion for selection of the material, thanks to the strenuous efforts by the ministry of steel. It is required that LCA included in the GFR must get percolated down to the tender clauses of the bids for all infrastructure and construction projects. It should remain as a mandatory criterion and not an optional one. Without this change, the construction companies willing to implement steel based or steel concrete composite designs would continue to settle for RCC structures to obtain the order.

Thus dissemination of knowledge of steel use, codes and design aspects through structured training programmes on a much wider scale in various government and related agencies for their engineers and technical officials is the dire need of the day. This should be accompanied by conferences/ workshops with architects and structural engineers at different parts of the country. Steel producers, ministry of steel and other stakeholders must lend a support to these efforts. It is a much more effective and sustainable action to convince these departments on more use of steel.

The impact of knowledge dissemination holds equally good for promoting steel use in rural areas. The masons, small contractors and local engineers influence the design methods and choice of material. They must be exposed to a day-long programme for knowledge of best use of TMT, bar bending techniques, choice of BIS-specified steel materials, best practices of construction and steel properties. These programmes are happening, but their reach and coverage must be expanded exponentially in a country like ours to make a visible impact on increased use of steel.

Source : Financial Express

Bijlage:

voda 10 augustus 2017 16:24

0

Brussel neemt maatregelen tegen dumping roestvast staal

Betreft goedkoper import uit China.

(ABM FN-Dow Jones) Brussel heeft voorlopige maatregelen getroffen om de import van goedkoop geproduceerd roestvast staal uit China tegen te gaan. Dit maakte de Europese Commissie donderdag bekend.

Dit houdt in dat Brussel een heffing oplegt op de invoer van roestvast staal door Chinese bedrijven die variëren van 17,2 tot 28,5 procent. De heffingen raken Chinese fabrikanten zoals HBIS Group, Shougang Group en Shagang Group.

De voorlopige maatregelen volgen op het onderzoek dat in december 2016 werd begonnen nadat de Europese belangenbehartiger van de staalindustrie Eurofer een klacht had ingediend eind oktober 2016. Het onderzoek betrof het dumpen van staal in de periode van 1 oktober 2015 tot 30 september 2016.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 10 augustus 2017 16:26

0

Glencore buigt verlies om in winst

Betere grondstofprijzen steunen groeimomentum.

(ABM FN-Dow Jones) Glencore heeft in de eerste helft van 2017 een verlies weten om te buigen in een nettowinst op een hogere omzet. Dit meldde het Zwitserse grondstoffen- en mijnbouwconcern donderdag voorbeurs.

CEO Ivan Glasenberg sprak van sterke prestaties het afgelopen halfjaar, terwijl sprake was van het "beste wereldwijde economische groeimomentum sinds jaren, waarbij sterke winstmarges werden gerealiseerd door aanzienlijk betere grondstofprijzen en gunstige kostenstructuren", aldus de CEO.

Glencore boekte in de eerste zes maanden van 2017 een aangepast bedrijfsresultaat (EBITDA) van 6,7 miljard dollar, tegen 4,0 miljard dollar in dezelfde periode een jaar eerder. Onder de streep resteerde een nettowinst van 2,45 miljard dollar, tegenover een verlies van 369 miljoen dollar een jaar eerder.

De omzet steeg van 69,4 miljard dollar in de eerste helft van 2016 naar 100,3 miljard dollar het afgelopen halfjaar.

Outlook

Het grondstoffen- en mijnbouwconcern voorziet voor het hele boekjaar een vrije kasstroom van 7,1 miljard dollar, tegen actuele spotprijzen, en een aangepast bedrijfsresultaat (EBITDA) van 15 miljard dollar.

Het aandeel Glencore sloot woensdag 2,1 procent lager.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 10 augustus 2017 16:27

0

Minder winst Thyssenkrupp

Industrieel conglomeraat herhaalt outlook.

(ABM FN-Dow Jones) Thyssenkrupp heeft in het derde kwartaal van zijn gebroken boekjaar een lagere winst geboekt vanwege een eenmalige last die genomen werd vanwege de verkoop van een Braziliaanse staalfabriek. Dit bleek donderdag voorbeurs uit de cijfers van het Duitse industriële conglomeraat.

CEO Heinrich Hiesinger wees erop dat na een sterke eerste jaarhelft de order-intake, de omzet en het bedrijfsresultaat in het derde kwartaal verder zijn aangetrokken. De topman was verder tevreden dat alle divisies bijdroegen aan de prestaties.

De omzet steeg in het derde kwartaal op jaarbasis met 11 procent, van 9,9 miljard naar 10,9 miljard euro. Kijkend naar de ontwikkeling over negen maanden steeg de omzet met 9 procent van 29,3 miljard naar 32,0 miljard euro.

De orderintake steeg in het derde kwartaal met 14 procent op jaarbasis tot 10,7 miljard euro en over negen maanden tot 32 miljard euro.

Het bedrijfsresultaat (EBIT) steeg in het derde kwartaal van 372 miljoen naar 529 miljoen euro en onder de streep resteerde een nettowinst van 120 miljoen euro, tegen 130 miljoen euro een jaar eerder.

Over negen maanden kwam er een verlies van 751 miljoen euro in de boeken vanwege de verkoop van de Braziliaanse staalfabriek CSA.

Outlook herhaald

THyssenkrupp herhaalde donderdag de verwachtingen voor heel het boekjaar, met een omzetgroei die richting de 10 procent gaat en een EBIT van 1,8 miljard euro. De verkoop van CSA zal wel een negatieve impact blijven geven op de nettowinst in de rest van het boekjaar, aldus het concern.

Het aandeel Thyssenkrupp sloot woensdag 1,1 procent lager op 25,47 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 10 augustus 2017 16:28

0

'ArcelorMittal kijkt naar overnames in India'

Gepubliceerd op 10 aug 2017 om 07:20 | Views: 2.009

ArcelorMittal 16:10
22,78 -0,18 (-0,76%)

LONDEN (AFN/BLOOMBERG) - Staalproducent ArcelorMittal staat op de uitkijk voor overnames van Indiase staalbedrijven die in financiële problemen zitten. Dat meldde de Indiase zakenkrant Business Standard op basis van bronnen.

Volgens de ingewijden hebben hoge managers van ArcelorMittal recent in Londen contact gehad met adviseurs van Indiase staalbedrijven die kampen met financiële moeilijkheden en failliet dreigen te gaan. Het zou gaan om staalproducenten als Essar Steel en Bhushan Steel. ArcelorMittal heeft Citibank ingeschakeld voor begeleiding bij het biedingsproces, aldus het bericht.

voda 10 augustus 2017 16:49

0

Salzgitter verwacht meer na sterk halfjaar

Gepubliceerd op 10 aug 2017 om 08:27 | Views: 697

ArcelorMittal 16:28
22,80 -0,16 (-0,70%)

SALZGITTER (AFN) - Het Duitse staalconcern Salzgitter heeft een sterk eerste halfjaar achter de rug. Het bedrijf stelde de verwachtingen voor het hele jaar naar boven bij.

Salzgitter rekent nu op een brutowinst van 150 miljoen tot 200 miljoen euro en een omzet van 9 miljard euro. In mei stelde Salzgitter de winstverwachting ook al bij nadat de cijfers over het eerste kwartaal positief uitvielen.

De brutowinst kwam in de eerste helft van het jaar uit op ruim 100 miljoen euro, het beste resultaat sinds 2011 in deze periode. De Duitsers danken het goede resultaat deels aan de hogere staalprijs. Ook kostenbesparingen hielpen de tweede staalproducent van Duitsland vooruit.

Het nettoresultaat kwam uit op 64,7 miljoen euro. In 2016 werd van januari tot en met juni een nettowinst geboekt van 9,3 miljoen euro. De omzet kwam in het eerste halfjaar uit op 4,6 miljard euro, een stijging van 16 procent ten opzichte van de eerste zes maanden van vorig jaar.

voda 10 augustus 2017 16:55

0

NDRC calls a meeting of officials from steel mills, regulators & bourse to discuss price surge - Report

Reuters, citing people familiar with the matter, reported that Chinese government has summoned regulators, a major exchange and steel company executives to a meeting to discuss steel prices as a surge in markets due to output cuts draws scrutiny from authorities. On Wednesday, the China Iron and Steel Association held a meeting in the capital with its members. The report quoted an official at China Iron and Steel Association as saying that “The meeting, to be hosted by the National Development & Reform Commission, will discuss futures and physical steel prices.”

He told “Officials from the Ministry of Industry and Information Technology (MIIT), China Securities Regulatory Commission (CSRC), CISA, Shanghai Futures Exchange (SHFE) and some leading companies have been called to attend the meeting.”

The move comes after steel rebar futures prices soared by two-thirds since the start of the year, with investors betting supply will tighten as Beijing forces outdated, polluting factories to close ahead of winter. Sources said the gathering suggests the government is concerned that the rally in prices has been overdone, fuelled by speculative buying, and is not justified by fundamentals.

Source : Reuters

Bijlage:

voda 10 augustus 2017 16:57

0

NDRC calls a meeting of officials from steel mills, regulators & bourse to discuss price surge - Report

Reuters, citing people familiar with the matter, reported that Chinese government has summoned regulators, a major exchange and steel company executives to a meeting to discuss steel prices as a surge in markets due to output cuts draws scrutiny from authorities. On Wednesday, the China Iron and Steel Association held a meeting in the capital with its members. The report quoted an official at China Iron and Steel Association as saying that “The meeting, to be hosted by the National Development & Reform Commission, will discuss futures and physical steel prices.”

He told “Officials from the Ministry of Industry and Information Technology (MIIT), China Securities Regulatory Commission (CSRC), CISA, Shanghai Futures Exchange (SHFE) and some leading companies have been called to attend the meeting.”

The move comes after steel rebar futures prices soared by two-thirds since the start of the year, with investors betting supply will tighten as Beijing forces outdated, polluting factories to close ahead of winter. Sources said the gathering suggests the government is concerned that the rally in prices has been overdone, fuelled by speculative buying, and is not justified by fundamentals.

Source : Reuters

voda 10 augustus 2017 16:58

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Nippon Steel& Sumitomo Metal Corp expects high China steel prices throughout 2017

Reuters reported that Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp expects China's steel prices to remain elevated throughout the year as Beijing's infrastructure spending boosts local construction demand. Mr Toshiharu Sakae, Nippon Steel's executive vice president, told Reuters in an interview "Beijing's economic stimulus has been bolstering the Chinese economy and domestic consumption will likely stay solid this year even after an autumn congress of the Communist Party of China.”

He said “Most Chinese steelmakers are making profits, and "Chinese steel prices will hover near the current level throughout this year, though I'm a bit anxious about the recent sharp rally.”

He however added that there is still a big potential threat to steel, however, from the possibility for US trade restrictions. He said "If any actions are taken to curb steel imports, it may prompt retaliation by others. Steel products that lost destinations will flow into Asia, including Japan, leading to a collapse of local markets.”

Source : Reuters

voda 10 augustus 2017 16:59

0

Gerdau CEO expects 2018 Brazil recovery to boost building

Reuters reported that Brazilian steelmaker Gerdau SA is maintaining its capital spending target this year and aims to invest about as much in 2018, when an economic recovery should spur more construction. Still, Chief Executive Officer Mr Andre Gerdau Johannpeter said the prospects for the Brazilian economy this year remain challenging, after the company reported slipping second-quarter revenue and profit. He told "We see positive signals in Brazil. They are small but tend to reflect an economic recovery closer to 2018.”

He however, reaffirming that capital expenditures this year will be in line with the BRL 1.3 billion (USD 414 million) spent in 2016, added "That does not affect our investment decisions.”

Earlier on Wednesday, Gerdau reported net profit of BRL 76.5 million in the second quarter, down 3 percent from a year earlier, according to a securities filing. Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, slid 3.8 percent to BRL 1.006 billion. Cost-cutting efforts, including a 27 percent drop in selling, general and administrative expenses, helped to keep earnings relatively stable despite falling revenue. Net sales dropped 10.6 percent from a year before because of currency effects from foreign subsidiaries and the sale of Spanish units.

Source : Reuters

voda 10 augustus 2017 16:59

0

ArcelorMittal may bid for stressed steel assets in India - Report

Business Standard reported that the world's largest steelmaker, ArcelorMittal, is likely to bid for stressed assets facing insolvency proceedings. The report quoted sources as indicating that ArcelorMittal could be interested in Bhushan Steel or Essar Steel, depending on valuation and is in discussion with a leading bank to evaluate and advise on the stressed asset buy.

In July, a team from SBI Capital Markets, which is advising lenders on restructuring packages for some of these companies, had visited London to meet the senior management of ArcelorMittal. The idea was to get ArcelorMittal to participate when the assets came up for bidding.

ArcelorMittal has been trying to gain a foothold in India for a while now. It signed a MoU with the Jharkhand government in 2005 for setting up a 12-million-tonne plant in the state. A year later, the company signed another MoU with the Odisha government for a similar-sized plant in that state. Neither project made much headway. In 2009, ArcelorMittal bought a 33.8 per cent stake in Mumbai-based galvanised steelmaker Uttam Galva Steels and a year later signed yet another MoU with the Karnataka government for a six-million-tonne steel plant, but that too remained a non starter. The company is now in talks with public sector Steel Authority of India Limited for an automotive steel manufacturing joint venture. Discussions have been on for some time, though a breakthrough is expected in the next couple of months.

Source : Business Standard

voda 10 augustus 2017 17:22

0

JSPL to refinance eying profit in second half of FY18 - CEO Mr Uppal

Moneycontrol News reported that company’s CEO Mr Ravi Uppal told that Jindal Steel & Power Limited is looking to refinance more debt in India as well as abroad by next month. Mr Uppal told Moneycontrol “What happens is when we are doing the restructuring of some of the loans and we are taking some more funding, one of the conditions they have is that if we don’t sort of honour our repayment and interest servicing, then they will resort to SDR as the ultimate instrument. It is for that purpose as the last resort.”

He told “We started the recovery journey in a big way from Q3 last year. Q3, Q4, this Q1 and god willing, the Q3, Q4 this year should give us very positive results.”

Currently, the company's consolidated net debt stands at INR 45,500 crore, which includes INR 14,000 crore of overseas borrowing. The move will help the steel major bring down its interest cost.

Source : Moneycontrol News

voda 10 augustus 2017 17:24

0

SAIL SSP officers association calls on Tamilnadu CM to press for revival plan

Express News Service reported that a delegation of Salem Steel Plant officers called on the Tamil Nadu chief minister Mr Edappadi K Palaniswami on Tuesday and urged him to begin the revival plan mooted by the employees of the stainless steel major that was facing the risk of being privatised because of financial distress. Led by Mr P Selvamani president Salem Steel Executives Association, the representatives submitted a memorandum to the chief minister enlisting the steps needed to infuse fresh blood into the struggling public sector unit.

Mr Selvamani said “One of the main demands is preferential procurement of stainless steel for all infrastructure projects from Salem Steel Plant. We also requested the chief minister to take steps to procure power for the plant from Neyveli Lignite Corporation at lower costs instead of buying from the State Government.”

The officers of the steel firm also wanted an exclusive down-stream stainless steel industrial park set up through SIPCOT for creating jobs for the local people.

Another key point in the revival plan is to organise a stainless steel industrial investor’s meet at Salem to promote stainless steel downstream industries. Moreover, the chief minister was also urged to sanction soft loans for infusing new life to the public sector unit.

Source : Express News Service

voda 10 augustus 2017 17:25

0

Liberty House is closing in on Georgetown steel mill purchase - Report

Post and Courier reported that UK metals manufacturer that wants to buy the shuttered Georgetown steel plant is weeks from closing on the transaction, a spokesman told The Post and Courier, but the company is worried that a plan to rezone the property might scuttle the deal. Mr Gordon Spelich spokesman for London-based Liberty House Group, which plans to buy the mill from ArcelorMittal for an undisclosed price said that "It's been a long journey to get here, but we're very close to the end. We're moving forward with everything we need to do to get to the closing."

Liberty House met last week with the United Steelworkers to begin drafting a work agreement with the union, which Mr Spelich said should be finalized in a couple of weeks.

And concerns over the Port of Georgetown's ability to handle shipments of material to the mill have subsided, with assurances that barges can still navigate the fast-silting harbor.

Mr Spelich said that The potential rezoning, however, would be a "show stopper.”

Georgetown City Council has tentative plans to rezone the steel mill site away from heavy industrial use when it meets Aug. 17, although a final agenda won't be set until later this week. The city has worked with consultants on a plan to transform the property into a mix of housing, light industry and offices since ArcelorMittal shut down the facility two years ago.

Georgetown Mayor Jack Scoville said the city wants Liberty House to reopen the mill and would like to grandfather the company's use of the site into any rezoning plan. But if the mill closes again with Liberty House at the helm, that's it.

Source : Post and Courier

Bijlage:

voda 10 augustus 2017 20:36

0

Brazilian court suspends criminal process over mining companies involved in Samarco tailing dam collapse

Xinhua reported that a Brazilian court suspended the criminal process over four mining companies allegedly involved in the collapse of a mine dam to check and verify the validity of evidence. The debacle, which happened in November 2015 in Mariana, southeastern Brazil, unleashed a tsunami of mine waste that killed 19 people and polluted waterways, thus becoming one of the largest environmental disasters in Brazilian history.

The mining companies Samarco, Vale, VogBR and BHP Billiton and some individuals related to these corporations are facing multiple charges, including manslaughter and environmental crimes, which the companies have denied.

According to G1, the companies' defense team alleged that the recordings of phone calls included in the criminal process were illegally obtained. The court ruled that an investigation will be carried out to clarify whether the recordings were obtained legally, and in the meantime the process will remain suspended.

The prosecution denied any irregularities during investigations and protested the court's decision.

Source : Xinhua

Bijlage:

voda 10 augustus 2017 20:37

0

FMG eyes new iron ore pricing mechanism to curb volatility – CEO Mr Nev Power

The Australian reported that Fortescue Metals Group is in talks with steel mills and industry groups over new potential new pricing mechanisms that would tackle the volatility in iron ore prices. FMG CEO Mr Nev Power while speaking on the sidelines of the Diggers & Dealers mining forum in Kalgoorlie said that the extreme movements both up and down in the iron ore price was being amplified by speculative futures trading, often by individuals and companies with no direct interest in ever actually taking physical delivery of iron ore.

He told “It’s been raised with us from a number of steel mills and industry associations across Asia and I think there’s a growing level of interest in providing less volatility.”

Mr Power said “I don’t think anyone is looking for the industry to go back to fixed price mechanisms or anything like that because those are too difficult to settle, but at the other end of the spectrum where we’ve got highly speculative trading and volatility makes it very difficult particularly for steel mills to forecast what their raw material costs will be.”

Since the old annual benchmark pricing system was abandoned by iron ore miners and steel mills in 2010, trading of iron ore on various spot and futures markets has accelerated dramatically.

Mr Power said the discussions between Fortescue and steel mills were focusing on potential mechanisms such as the increased use of contracts or structures that limit the range by which prices can rise or fall as a means of bringing more certainty to the industry.

Source : The Australian

voda 10 augustus 2017 23:14

0

You've Been Looking At ArcelorMittal The Wrong Way

Aug. 10, 2017 12:49 Christiaan Casper
Christiaan Casper
PM ET| About: ArcelorMittal (MT)

Growth at reasonable price, long only, value, long-term horizon

(100 followers)
Summary

Shareholders should consider whether decisions are in the long term interest of the company instead of for short-term gain.

Past dividend cuts are not necessarily a bad thing as MT is still growing and can use its assets efficiently for growth.

The Intelligent Investor provides clues as to how shrewd investors can play the steel space's cyclicality.

Investment Thesis

ArcelorMittal (NYSE:MT) is a steel company which has been around for years. When evaluating the company I believe investors should step away from their shareholder perspective and investigate the company from the point of view of management. Decisions are made to ensure the long term well being of the company and do not intend to grant short term gains to shareholders. To ensure aligning the interest of shareholders and management shareholders should evaluate the company and management decisions the same way by asking the question: Is this decision beneficial for the long term success of the business?

Introduction

ArcelorMittal was formed in 2006 after a merger between Arcelor and Mittal. Now it is the largest steel company in the world with a market cap of 27.65 billion dollars. Looking at the company starts with the logo. Personally I imagined the logo resembling a bent red hot steel beam or the CE mark (a sign meaning a product conforms to European standards for safety, health and environmental protection).

Figure 1 MT

I was wrong. It turns out that with a little imagination the logo resembles an “A” and an “M” effectively combining Arcelor and Mittal. While the logo pays tribute to the historic merger, it is of little importance to investors. The real importance lies in how to assess the decisions which are being made by the firm. Including its dividend policy.

Figure 2 MT

No dividend? No problem

Income investors are going to disagree with me but I believe MT should pay the lowest level of dividends as possible. With the acquisition of the Ilva steel plant, the company has proven it is still on a path to higher growth and that using its assets for growth is more beneficial than having hungry shareholders nipping away at future growth. On the question: are dividends beneficial for the long term success of the business? I would answer:

Voor meer, zíe de link:

seekingalpha.com/article/4097397-arce...

voda 11 augustus 2017 15:26

0

China waarschuwt voor irrationele handel staalfutures

Metaalprijzen omlaag na waarschuwing.

(ABM FN-Dow Jones) Chinese autoriteiten hebben donderdag gewaarschuwd voor irrationele bewegingen van de metaalprijzen, wat sterke dalingen van de futures tot gevolg had.

Volgens brancheorganisatie China Iron and Steel Association worden de prijzen voor staalfutures niet gedreven door dalingen van de vraag of het aanbod, maar door "over interpretatie, of zelf misinterpretatie" met betrekking tot capaciteitsverminderingen, het tegengaan van illegale staalproductie en beleidsmaatregelen om het milieu te beschermen.

De organisatie waarschuwde ervoor dat sommige handelaren de prijzen omhoog duwden door overdreven conclusies te trekken over een sterke stijging van de staalprijzen in de tweede helft van 2017 om zo winst te behalen op hun posities.

Handelaren schrokken van de uitlatingen en de prijzen voor rebar staal en ijzerts gingen flink omlaag. Dit had ook invloed op de koersen van Europese staalbedrijven vrijdagochtend.

De prijzen voor rebar staal, REinforcing BAR, dat wordt gebruikt in de bouw, bereikten in China eerder deze week nog het hoogste niveau in de laatste vijf jaar.

In Amsterdam daalde het aandeel ArcelorMittal vrijdag 3,8 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

(END) Dow Jones Newswires

voda 11 augustus 2017 16:01

0

ThyssenKrupp won't be rushed on European steel tie-up with Tata Steel UK - CFO

Reuters reported that ThyssenKrupp will not be rushed into any deal with Tata Steel to merge their European steel businesses. Pouring cold water on investor hopes for a quick agreement ThyssenKrupp CFO Mr Guido Kerkhoff told journalists on Thursday, its chief financial officer said "Just because you might read at some point that Tata has a deal it doesn't mean we can stand up a week later and say Now we have a joint venture. It cannot work that way. We also prefer a fast solution but quality comes before time.”

He declined to say whether the group aimed for a deal before its fiscal year ends next month.

Britain's Sky News reported on Wednesday that Tata Steel was on the brink of detaching its British Steel pension fund from its UK operations, a precondition for any merger deal with ThyssenKrupp.

Source : Reuters

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