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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,890 16 apr 2024 12:28
  • -1,630 (-6,39%) Dagrange 23,760 - 24,370
  • 3.535.361 Gem. (3M) 2,3M

Nieuws en info hier plaatsen (deel 2)

1.000 Posts
Pagina: «« 1 ... 35 36 37 38 39 ... 50 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 26 juni 2012 16:12
    Steel overcapacity to spur output cuts and plant shutdowns - Colakoglu Metalurji

    Arab News reported that the director of Turkish steelmaker Colakoglu Metalurji expects steel production cuts and plant shutdowns in the United States in Turkey, Russia, Ukraine and elsewhere as margins get squeezed by weaker demand and oversupply.

    Mr Ugur Dalbeler MD of Colakoglu Metalurji said that "This a tendency I am expecting for the next 2 months to 3 months: Shutdowns not only in the US but almost everywhere because there is still oversupply that's for sure. That's one of the reasons why we are having lower prices."

    In Turkey for example prices for flat steel products have fallen by about 15% since a year ago while long steel prices in the Black Sea area lost 10% of their value in the same period, mainly due to softer demand in the debt burdened euro zone and in the Middle East and North Africa.

    Mr Dalbeler said that Colakoglu, one of the biggest steel firms in major producer Turkey, is looking into using steel derivatives contracts to limit price risk arising from market volatility. We haven't done anything yet because since we decided to use them things in the market got a bit worse. The intention is to start using them slowly but to start creating a reasonable business in our daily operations.

    He said that the firm was looking mainly at the CME hot rolled coil contract and the scrap contract, pointing towards an increased involvement of industrial players, expanding a derivatives market previously dominated by financial companies. Industrial players have in the past viewed the fledgling market with caution but increased volatility in steel markets has convinced some of them to enter the market to manage risk.

    Mr Dalbeler who is also the vice chairman of the Turkish producers association and a board member of the Turkish exporters association said that Steel end users are keeping their inventories very low, below critical levels as they are confused by the contrasting news about the global economy. This means they will soon be forced to buy at least some material and when a recovery takes place it could boost prices quickly.

    He said that there is a consensus that things will get better in September after the Ramadan and the summer holidays because due to low inventory levels people will have to buy starting from August. Russian and Ukrainian steelmakers were selling very aggressively into Turkey lately both flat and long steel products.

    Erdemir, Turkey's largest flat steel maker said that firms from the CIS were having difficulties in other markets and selling at cheaper prices in Turkey, whose market is stronger than Europe which is struggling with an economic crisis. Turkish consumption of hot rolled coil, a steel flat product mainly used for white goods production was 13 million tonnes last year while domestic production at 9 million with the difference is filled by imports mainly from Russia and Ukraine.

    According to the executive, as Turkish steelmakers continue to invest in expanding their flat product output, though, Turkish production is likely to catch up with demand by 2014 to 2015.

    Source - Arab News
  2. forum rang 10 voda 26 juni 2012 16:15
    BHPB looks to slice iron ore expansion plan - Report

    Reuters reported that BHP Billiton is likely to cut the first stage of its estimated USD 10 billion iron ore port expansion in half, analysts and investors said, as it looks to slash capital spending due to rising costs and an uncertain market outlook.

    The Outer Harbour project in Western Australia is one of three mega projects in an USD 80 billion pipeline that BHP has slowed, under pressure from shareholders who want bigger dividends and buybacks rather than expensive projects with no short-term returns.
    In February, BHP committed USD 779 million in early funding to build a 100 million tonnes a year outer harbour facility and said at the time it would be reviewed for full approval in the December quarter this year.

    Five analysts and two investors said on Friday BHP's incoming iron ore chief, Jimmy Wilson, would have to cut plans for the Outer Harbour.

    UBS analyst Glyn Lawcock said that "He's been told he's got to re-cut it to a smaller project.”

    They predicted the logical outcome would be to cut the first stage of the expansion to 50 million tonnes a year from 100 million tonnes a year.

    Analysts and investors said given that BHP has about 50 million tonnes a year extra rail capacity, the company was likely to look for ways to milk its existing mines for extra output to fill that capacity, in which case it would only need 50 million tonnes a year of new port capacity.

    Another analyst said that "They're looking at it as 50 million tonnes a year.”

    BHP Billiton declined to comment on whether its incoming iron ore chief had been told to cut the scope of the outer harbour project. A spokesman directed Reuters to recent comments by senior BHP managers on the company putting the brakes on spending plans.

    Source - Reuters
  3. forum rang 10 voda 26 juni 2012 16:18
    ArcelorMittal Kriviy Rih finished roll output in Jan to May up by 6pct YoY

    Interfax reported that ArcelorMittal Kriviy Rih, Ukraine biggest steel producer, increased production of finished roll by 6.4% YoY to 2.16 million tonnes in January to May 2012.

    The statement said that steel output increased by 11.1% to 2.549 million tonnes and pig iron 13.6% to 2.229 million tonnes. Production of finished roll in May came to 399,600 tonnes, steel 502,000 tonnes of steel and pig iron 443,000 tonnes.

    Mr Paramjit Kahlon head of production at the plant said "ArcelorMittal Kriviy Rih's production was below plan in May, largely because of the continued repair of blast-furnace N9. Nonetheless and if we make a comparison with the same period of last year and production increased by 3.5%YoY. After the completion of repairs, blast-furnace N9's output reached 9,200 tonnes of pig iron a day. Logistics improved results from the previous month thanks to improvements in roll and concentrate shipments, as well as railcar turnover."

    It was earlier reported that the company reduced production of finished roll by 8.2% to 4.938 million tonnes in 2011, steel down 7% to 5.703 million tonnes and pig iron 8% to 4.894 million tonnes.

    Source - Interfax
  4. forum rang 10 voda 27 juni 2012 16:36
    ArcelorMittal koersdoel omlaag naar EUR15,50 - JPMorgan


    AMSTERDAM (Dow Jones)--JPMorgan Cazenove heeft het koersdoel voor ArcelorMittal (MT.AE) verlaagd naar EUR15,50 van EUR18,00 en houdt het advies op overweight. Volgens de analisten zal het aandeel profiteren van een herstel van de staalprijs in het derde kwartaal. Maar zwakke prijzen halverwege het tweede kwartaal tot halverwege het derde kwartaal en een sterke dollar ten opzichte van de euro in samenhang met hogere Amerikaanse importen zullen een drukkend effect hebben op de winst voor rente, belastingen, afschrijvingen en amortisatie (Ebitda) van ArcelorMittal. Voor heel 2012 hebben ze hun Ebitda verwachtingen verlaagd naar $8,4 miljard van $9,3 miljard. Het aandeel is dinsdag gesloten op EUR11,27. (LDF)


    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
  5. forum rang 10 voda 27 juni 2012 16:36
    ArcelorMittal koersdoel omlaag naar EUR16 - Deutsche Bank


    AMSTERDAM (Dow Jones)--Het koersdoel voor ArcelorMittal (MT.AE) is verlaagd naar EUR16,00 van EUR17,00 door Deutsche Bank. Het advies blijft hold. Volgens de bank zal het aandeel voorlopig onder druk blijven staan, nadat vanaf het begin van dit jaar de koers al met 18% is gedaald. De analisten noemen onder meer de onzekerheid in Europa en lagere staalprijzen in de komende maanden als redenen. Het aandeel is dinsdag gesloten op EUR11,27. (LDF)


    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
  6. forum rang 10 voda 27 juni 2012 17:04
    Credit Suisse cuts TATA Steel to underperform

    Credit Suisse cut its steel prices estimates after bigger than expected falls, and adds it will impact EPS for companies in the sector by 5 to 25%.

    Credit Suisse downgraded TATA Steel to underperform from neutral while maintaining its target price at 340 rupees, saying valuations are no longer supportive.

    The investment bank also cuts its target price for Jindal Steel & Power to INR 600 from INR 534 citing higher costs at captive power plans and plans to scrap its iron ore and steel investment in Bolivia among its main reasons.

    Source - Reuters
  7. forum rang 10 voda 27 juni 2012 17:05
    ArcelorMittal unveils iCARe portfolio of electrical steel solutions for electric vehicle market

    ArcelorMittal has unveiled its first electrical steel product range designed specifically to meet the requirements of the electric vehicle sector at the Coil Winding, Insulation and Electrical Manufacturing Exhibition in Berlin.

    The result of a significant investment in research and development, the iCARe™ portfolio has been created to help carmakers create innovative new mobility solutions for a more sustainable world. As part of its strategy for this market, ArcelorMittal has also committed over EUR 90 million of fresh investment in its St Chély d'Apcher production facility in France.

    Together, these material innovations will help carmakers deliver lower CO2 emissions and improve fuel consumption for hybrid vehicles, while contributing to a longer range of pure electric vehicles and a lower total cost of electrification. The iCARe™ steels also promise to deliver increased power density from electric motors, helping to reduce the size and weight of low-emission vehicles via enhanced energy efficiency.

    Mr Greg Ludkovsky VP global research and development at ArcelorMittal said that "As the leading supplier of steel to the global automotive industry, ArcelorMittal already enjoys enviable heritage and expertise in this space. The launch of the iCARe™ portfolio reflects not only the global shift towards more energy efficient vehicle technologies, but also the benefits delivered by our R&D driven approach to innovation. In 2011 alone, we invested USD 306 million in researching and developing new steel products, solutions and processes to support a low carbon world, demonstrating the sustainable advantages available through product innovation."

    The iCARe™ portfolio includes three distinct grades of electrical steel developed to meet specific challenges presented by the shift towards electro mobility. The iCARe™ Save range offers very low electrical loss, maximizing the use of current batteries and allowing electric vehicles to drive further on one charge. iCARe™ Torque products ensure the highest levels of mechanical power output from EV motors, generating improved acceleration and ensuring a more dynamic driving experience. Finally, iCARe™ Speed steels deliver very high strength, making them ideal for the manufacture of high-speed rotors that allow a further weight reduction of the motor. With these three types of iCARe™ steel, machine designers now have access to the most suitable electrical steel to maximize the efficiency of their motor design.

    ArcelorMittal also offers coatings for the iCARe™ range, designed to further customize the application of each of the iCARe™ steel grades. A suite of iCARe™ advanced services offer further technical support for automotive customers, encompassing areas including modeling, prototyping and material handling. With this advanced technical service, ArcelorMittal is a real partner in magnetic and mechanical machine design for electric vehicles.

    As part of the iCARe™ project, ArcelorMittal has also committed to a €90m investment in the creation of a new continuous annealing line at its production facility at St Chély d'Apcher, France. Potentially capable of producing up to 120,000 tonnes of iCARe™ steels per year, this production line will support the development of further breakthrough innovations for the automotive steel sector, helping to meet growing global demand from EV manufacturers.

    ArcelorMittal is already the foremost supplier of steels to the global automotive industry.

    Source - ArcelorMittal
  8. forum rang 10 voda 27 juni 2012 17:11
    Rio Tinto executives sees moderation in iron ore prices

    Reuters reported that Rio Tinto the world's second largest miner of iron ore after Brazil's Vale expects moderation in iron ore prices going forward as additional supply comes on stream.

    Mr Alan Davies president of international operations for Rio Tinto told Reuters that "The demand outlook is strong but supply is responding as well.”

    He said that "Iron ore prices are high from historic standards now but as supply comes on we would expect a moderation in the price on the medium term."

    Source - Reuters
  9. forum rang 10 voda 28 juni 2012 16:32
    Global steel firms threatening to trigger a series of mini trade wars

    Reuters reported that steel producers from around the world are trading allegations that rivals are dumping cheap metal on the market, threatening to trigger a series of mini trade wars as global steel industry is already hunkering down for a fresh round of closures and trade disputes as competition among global steel producers has intensified just as demand has weakened.

    A darkening outlook for the world economy has led to over capacity in the steel industry. Sanctions on Iran and the lack of a recovery in demand from Middle East nations after the Arab Spring have worsened the strain, cutting off key import markets. And this time it isn't just China that is being cast as the villain. Russia and Ukraine are both being blamed, reviving a long simmering source of trade friction.

    Moreover it isn't just developed markets that are suffering. The pain is also being shared more widely, with developing nations and territories like Turkey, Thailand and Taiwan, struggling with plunging prices and blaming cheap imports. Australia has launched an anti dumping lawsuit this week against imported hot rolled coil from Japan, Taiwan, South Korea and Malaysia.

    Tighter US and European Union sanctions on Iran at the start of the year removed a major steel buyer from the market, dealing the already ailing industry another blow.

    Mr Alan Price, head of the international trade practice at law firm Wiley Rein LLP said that "The scenario that caused previous trade crises is back. In particular, the trouble stems from foreign producers who enjoy government subsidies keeping output high even as prices fall, flooding the market with cheap metal.”

    Source - Reuters
  10. forum rang 10 voda 28 juni 2012 16:33
    ThyssenKrupp hires Goldman Sachs & Morgan Stanley for sale options

    ThyssenKrupp said today that it has hired Goldman Sachs and Morgan Stanley to review strategic options for its steel plants in Brazil and Calvert.

    On May 15, 2012 the Executive Board of ThyssenKrupp AG announced its decision to examine strategic options in all directions for the Steel Americas plants in Brazil and the USA. This may involve a partnership or sale to a best owner whose strategy can better utilize the outstanding quality and fundamental competitiveness of the plants.

    To support the examination of the strategic options, the Executive Board of ThyssenKrupp AG has now mandated the banks Goldman Sachs and Morgan Stanley. The strategic review is being carried out with an open mind and in parallel with the further technical and commercial optimization of the plants.

    ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably back in May 2011. The program encompasses portfolio optimization, change management, and performance enhancement. In connection with the portfolio optimization, transactions have already been completed or signed for over 90% of the sales volume up for disposal.

    Source - bymnews.com
  11. forum rang 10 voda 28 juni 2012 16:39
    ArcelorMittal Kryvyi Rih crude steel output in Jan to May up by 11pct YoY

    It is reported that in the January to May period of the current year, the crude steel production of ArcelorMittal Kryvyi Rih, Ukrainian subsidiary of global steel giant ArcelorMittal totaled 2.5487 million tonnes up by 11.1%YoY.

    In addition, in the first five months of the year ArcelorMittal Kryvyi Rih registered a 6.4% increase YoY in its finished steel output to 2.1604 million tonnes. During the period in question, pig iron production at ArcelorMittal Kryvyi Rih increased by 13.6%YoY to 2.2294 million tonnes.

    In May alone crude steel production at ArcelorMittal Kryvyi Rih increased by 8.3%YoY to 502,000 tonnes, output of finished steel went down by 6.7% to 399,600 tonnes and production of pig iron moved up by 11.8% YoY to 443,000 tonnes.

    Source - Visit www.steelorbis.com for more
  12. forum rang 10 voda 28 juni 2012 16:39
    Court orders ArcelorMittal to Kalagadi Manganese an amount of ZAR 241.3 million

    It is reported that a rift between JV partners the New York listed ArcelorMittal and South African empowered company Kalahari Resources was laid bare in a judgment, with the court ordering the world's largest steel maker to honor its commitments.

    The South Gauteng High Court ordered ArcelorMittal to pay the JV entity, Kalagadi Manganese, an amount of ZAR 241.3 million within 10 days and to honor its commitments under shareholder agreements in the venture.

    Judge Mr Phillip Coppin made scathing comments in his judgment about ArcelorMittal, rejecting the global steel producer's application for Kalagadi to be placed in a business rescue process because it had run out of money. He added that "Instead, it deliberately withheld funding, seemingly knowing that Kalagadi would, as a result, experience financial distress which would render it vulnerable to attack by disgruntled creditors."

    He said that "That by balancing its fate of either being liquidated or rescued, there would be an opting of the latter, which would enable Arcelor to achieve possibly more than what it could have achieved by an order for specific performance."

    ArcelorMittal, the parent company of ArcelorMittal SA, owns half of Kalagadi Manganese, which is bringing a manganese mine and sintering plant into production this year. Kalahari owns 40% of Kalagadi and the Industrial Development Corporation the remaining 10%.

    Kalagadi is to build a smelter at Coega to produce 320000 tonnes of ferromanganese from 2014. Kalahari Resources, headed by Mr Daphne Mashile Nkosi, took ArcelorMittal to court to demand it pay its share of the project after Kalagadi ran out of money and banks declined to advance the project debt, because ArcelorMittal declined to put up security.

    ArcelorMittal said it was reviewing the judgment and considering its options. It added that "While ArcelorMittal respects the court’s ruling, it is nevertheless disappointed, as this does not resolve the real issues, namely, that certain material obligations under the Kalagadi Manganese shareholders agreement have been breached, and that there remain serious shortcomings in terms of corporate governance within Kalagadi Manganese."

    Under the shareholder agreement, if Kalagadi was unable to fund the project and third party debt could not be raised, it fell to its shareholders to provide development capital pro rata.

    Source - Business Day
  13. forum rang 10 voda 1 juli 2012 16:53
    Union strike at ArcelorMittal Temirtau over wage revision

    Reuters reported that thousands of workers at ArcelorMittal steel mill in Kazakhstan staged a 3 hour strike on Friday and warned of wider action to back demands for a 30% pay hike.

    The labor union at ArcelorMittal Temirtau which said 3,000 staff joined the first ever stoppage at the plant has rejected a company offer of a 10% rise and has called for a halt in job cuts.

    Mr Vladimir Dubin head of the steelworkers union at ArcelorMittal Temirtau said "This is the first ever organized strike at the plant."

    He said that "There were sporadic disturbances in Temirtau back in the 1950s, but this is the first such strike since then. Steel workers wanted a 30% increase in wages on top of a 7.4% adjustment for last year and demanded a moratorium on job cuts.”

    He also said "If we don't find a compromise solution, we have a lawful right to notify (management) that we start an open-ended strike."

    Mr Dubin said wages average KZT 115,000 above the national average of 98,000, but up to 70% of steelworkers get only between KZT 50,000 and 80,000 per month.

    The strike at Temirtau where Kazakh President Nursultan Nazarbayev worked for a decade and where ArcelorMittal employs one tenth of the 170,000 population highlighted the risk for authorities of stoppages in one industry centres.

    But ArcelorMittal says it is facing problems selling its Kazakh output after losing access to its key market in Iran in the wake of western sanctions against Tehran. Mr Vijay Mahadevan chief executive of ArcelorMittal Temirtau reiterated a proposal to raise wages by 10% and said negotiations could resume in October if the market stabilized.

    Source - Reuters
  14. forum rang 10 voda 2 juli 2012 16:34
    Indian steel minister charges steel baron Mr LN Mittal

    PTI reported that Indian steel minister Mr Beni Prasad Verma said that Mr LN Mittal should stop maligning India and its government, asking why the steel baron was not setting up his plants in the country.

    Mr Verma Told PTI that "He should stop maligning India and the Indian government. Why is he not beginning work on his projects.”

    When asked about the problems being faced by ArcelorMittal with regard to land acquisition in Jharkhand and Odisha, the steel minister said, it is a state issue. He remarked that "In any case, Mittal never contacted me.”

    He said the Central Government would extend cooperation if ArcelorMittal wants to go ahead with its India plans.

    Mr Mittal chairman and CEO of world's largest steel company, ArcelorMittal, had said in New York on June 19 "Industrialization is an important part of every major economy's development and by risking progress. India is potentially condemning hundreds of millions to remain in poverty longer than previously anticipated.”

    Mittal had recently also stated that it may take his company another five to 10 years to start India projects. He had said that "We continue to experience difficulties in India. My belief is that the Indian projects may not see the light for five to 10 years.”

    ArcelorMittal is waiting for six years to implement its USD 30 billion projects mostly in Orissa and Jharkhand states.

    Source - PTI
  15. forum rang 10 voda 2 juli 2012 16:39
    Brazilian steel makers may lower steel prices in 2013

    According to the chief economist of Brazilian bank Bradesco, Brazilian steel makers may lower steel prices in 2013 on government's decision of tax reduction on the electricity.

    It will be a very important that steelmaker like Gerdau may lower costs of production, as well as benefit to all the supply chain. And announcement may happen in early 2013.

    It is also expected that the Brazilian industrial production will be no more growth by the end of 2012 and steel production growth will be only about 1% or 2%. Those may also lead to lower prices.

    Source - www.yieh.com)
  16. forum rang 10 voda 2 juli 2012 16:40
    S&P lowers AK Steel ratings to B+ from BB-

    Standard & Poor's Ratings Services said that "We are lowering our ratings, including the corporate credit rating, on West Chester, Ohio based steel producer AK Steel to B+ from BB-."

    It added that "The stable outlook reflects our expectation that the company's operating performance will gradually improve along with the economy, resulting in credit metrics consistent with a B+ rating by the end of 2013. Rationale The downgrade reflects our assessment that AK Steel will continue to have weak financial metrics stemming from continuing difficult competitive conditions, including uneven demand, excess capacity, declining prices, and relatively high raw material costs. We are also concerned that weaker markets globally, mainly a result of euro zone uncertainties and slowing growth in China, will limit the growth in the US economy and weigh on pricing in the steel markets. Given the relatively fixed cost nature of the company's business, we expect that lower prices will keep margins low and result in weak operating performance. We expect 2012 EBITDA although better than last year to be below USD 300 million and debt to EBITDA to be above 8 times. We also expect funds from operations to total debt to be below 10%. This is well below our previous expectations of between USD 350 million and USD 400 million of EBITDA and debt to EBITDA of about 6 times (adjusted for post retirement benefit obligations, operating leases, and asset retirement obligations)."

    S&P said that "Moreover, our expectations for 2013 are now less optimistic, with demand remaining sluggish, although we still expect improvement over 2012. Based on our expectations, which include moderating raw material costs and continuing slow economic growth in the US that results in modest pricing and volume gains, debt to EBITDA should decline but remain above 6 times in 2013, but approaching levels that, in our view, are more appropriate for a B+ rating. For the rating, we expect total adjusted debt to EBITDA of about 5 times and FFO to total adjusted debt of 15% to 20%. The corporate credit rating and outlook reflect the combination of the company's fair business risk profile and aggressive financial risk profile. The ratings also reflect its good market positions in a number of value added steel products and its strong liquidity. Its relatively small size, high fixed costs as an integrated steelmaker, lack of backward integration, limited diversity with high exposure to the automotive market, significant legacy costs, and weak credit metrics somewhat offset the strengths. Although AK Steel has become somewhat more cost competitive compared with its peers and has taken steps to reduce its other postretirement employee benefit liabilities, we believe it remains disadvantaged because of its lack of backward integration. The company is exposed to higher procurement costs because it doesn't own or control any iron ore or metallurgical coal (met coal) assets. High iron ore and met coal prices, which have increased significantly since 2009, have been a drag on operating performance during the past few years. The company has recently made two acquisitions to address a portion of its raw material needs, but we do not expect them to affect financial performance for several years. AK Steel manufactures flat-rolled carbon, and stainless and electrical steel, which compete in cyclical and capital intensive markets. The company has a somewhat higher value added product mix than many of its peers, with less than 20% of shipments coming from commodity steel products. Still, it has limited diversity. Sales to the automotive industry account for more than 35%."

    It added that "Liquidity In our view, AK Steel's liquidity is strong based on our liquidity criteria. Relevant aspects of our assessment of the company's liquidity profile include:

    We expect that sources of liquidity over the next 12 months will exceed uses by 1.5 times or more and believe that sources would exceed uses even if EBITDA were to decline by 30%.

    We believe that AK Steel has sufficient covenant headroom under its credit facility such that a 30% decline in EBITDA would not result in a breach of financial covenants.

    Source - Standard & Poor's
  17. forum rang 10 voda 2 juli 2012 16:41
    S&P revises US Steel outlook to negative from stable

    On June 29th 2012, Standard & Poor's Ratings Services revised the outlook on Pittsburgh based United States Steel Corporation to negative from stable. At the same, time it affirmed the BB corporate credit rating on the company, as well as the BB issue level rating (the same as the corporate credit rating) and 3 recovery rating on the company's senior unsecured notes. The 3 recovery rating indicates expectation of a meaningful (50% to 70%) recovery in the event of a default.

    S&P said that "The rating outlook revision reflects our view that the company's operating performance in 2012 and 2013 could fall short of our expectations because of deteriorating pricing as a result of excess domestic supply, increased imports, and lower scrap prices. The rating on US Steel reflects what Standard & Poor's considers to be the combination of its fair business risk and aggressive financial risk. In our view, the integrated steel producer has capital intensive operations, is exposed to highly cyclical and competitive markets, and has a high degree of operating leverage. Its financial risk profile reflects relatively high levels of book debt and significant under funded postretirement benefit obligations. Our ratings on the company also reflect its strong liquidity, good scope and breadth of product and operations, and the benefits of its backward integration into iron ore and coke production."

    S&P said that "Domestic steel demand and prices have fluctuated significantly over the past few years. But, overall, US Steel's financial performance has gradually improved and credit metrics have trended closer to our expectations for the rating because of better auto production and solid demand for oil country tubular goods. As of March 31st 2012, debt to EBITDA improved to 4.7 times and funds from operations (FFO) to total debt improved to 18%. (We adjust these measures for post retirement obligations, operating leases, and asset retirement obligations.) However, we expect them to weaken in the next few quarters as sheet pricing seems to be following a similar pattern to the past couple of years and weakening at midyear."

    It added that "We now expect 2012 EBITDA will fall below the USD 1.7 billion to USD 1.9 billion we had anticipated at the beginning of the year and may be closer to last year's USD 1.3 billion, with credit metrics weaker than what we consider appropriate for the BB rating. If prices don't firm, debt to EBITDA in 2012 could approach 6 times and FFO to total debt could fall to 10% compared with the our expectations for the rating of debt to EBITDA of about 4.5 times and FFO to debt of about 20%. In our view, conditions should improve somewhat in 2013, reflecting our expectation for continued slow growth in the US economy. However, if persistent domestic overcapacity because of slower than expected US economic growth, economic uncertainty in Europe, and slowing steel usage in China continue to pressure pricing and margins and erode liquidity, we could lower the ratings."

    Source - Standard & Poor's
  18. [verwijderd] 3 juli 2012 16:31
    Misschien schiet ik onder de duiven van Voda, het zij zo. Maar dit bericht vind ik toch belangrijk, niet alleen voor Arcelor maar zeker ook voor Aperam.

    Voor de komende 20 jr. heeft vliegtuigbouwer Boeing zijn marktprognose verhoogd. Het bedrijf verwacht in die periode zeker 34.000 nwe. vliegtuigen te zullen verkopen, marktwaarde ca. 4500 miljard dollar.
    Belangrijke pijlers zijn opgroeiende markten zoals China en India.

    Het wachten is nu op een soortgelijk bericht van Airbus dat zeker niet wil en kan achterblijven.

    Bron: AD
  20. [verwijderd] 4 juli 2012 08:41
    quote:

    voda schreef op 3 juli 2012 16:53:

    Ik zou willen, dat meer personen hier berichten plaatst. Het is echt geen "exclusieve" Voda draad hoor. :-)
    Bij deze :)

    Special Report: Huge MENA energy spending to boost steel use

    Wednesday, 04 July 2012

    Substantial investment in new energy and petrochemicals projects in the Middle East and North Africa (MENA) is likely to boost regional steel consumption and create steel-intensive downstream industries in the next ten years, market participants told Platts Steel Business Briefing.

    A recent report by consultants Booz & Company forecasts over $1.1 trillion of spending in the region’s energy and petrochemicals sectors, equating to one-fourth of the industry’s total global investment to 2020. The biggest spenders include Iran and Iraq, which are projected to invest primarily in upstream oil & gas projects; while Saudi Arabia is set to invest mainly in petrochemicals and power generation, and the United Arab Emirates in a combination of oil & gas, power and renewable energy.

    Among the steel products required for these developments will be hot rolled coil, plate and heavy sections, none of which are produced in substantial tonnages in MENA; this presents a potentially lucrative opportunity for prospective flat steelmakers. “There is [limited] hot rolled coil production in the UAE and Saudi; Emirates Steel (ESI) is launching a hot strip mill in in mid-2014, and SABIC is expanding its facility – but no one is looking at plate, so there is an opportunity,” a Gulf Cooperation Council steel sector analyst said. “We also expect more longitudinal submerged arc welded (LSAW) pipe mills.”

    Heavy sections, which will also be required in transport infrastructure, should likewise receive a demand boost from energy investments. Medium and heavy sections demand in the Middle East is currently estimated at around 4m tonnes/year, but ESI forecasts this to double by 2015.

    Reinforcement fabricators are also looking to exploit investment in petrochemicals: “the petrochemicals sector has different steel demand drivers to typical construction; it requires reinforcement fabrication, pressurized vessels and specialized products – lots of regional countries are seeking to increase fabrication capacity,” the analyst said.

    A UAE-based steel trader observed that this development would create downstream projects: “The slated energy investments will create a dynamic of their own; it will encourage investment in downstream facilities which don’t yet exist.” The analyst said: “there has been talk of regional automotive, white goods and yellow goods production for some time.”

    However, there is a word of caution. “We often see these huge investment forecasts floating around, but what does this comprise of?” the analyst said. “The status of projects in this region is very shaky.” A Saudi steel producer official observed: “We are just looking at orders already on the table. There are many project announcements, but whether they translate into work on the ground is another story.”

    Steel Business Briefing 2012

    --------------------------------------------------------------------------------

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