Metallurgists increase production in prices
In 2010 metallurgists will be able to cover loses caused by the crisis. Important positive sign for the industry was the quarterly report of South Korean POSCO, which managed to close the year with the $3 bn profit. At that the company relies on the 10 % profit growth in 2010 due to steel prices increase. At the same time Australian Rio Tinto announced iron ore output by 6% in the nearest 12 months.
POSCO which is the 4th top world steel manufacturer, managed to work without loses in 2009 and gained $2.83 bn of net income. In the Q4 the income amounted about $1.4 bn (77% growth YoY). POSCO kept rather high capacities load which amounted 93 % by the end of the year. The company counts on 10% financial factors growth in the Q1 of 2010 due to high demand and steel prices increase from automobiles and house appliances manufacturers.
POSCO complies with steel market recovery trend, which occurred in the second half of 2009 and will continue in 2010, according to experts. World Steel says that global steel output will grow by 9-10% YoY in 2010. Iron ore manufacturers also prepare for the growth. Australian Rio Tinto is going to increase iron ore output in 2010 by 6%, to 230 mio tons, due to the demand from China. In the last quarter of 2009 Rio Tinto increased the output by 50 % YoY. Iron ore demand in the PCR grew in 2009 by 40 % totally. In 2010 China is expected to import about 620 mio tons of iron ore. In this connection the analysts of Australian bank Mañquary forecast iron ore prices increase by 20 % to $70-72 per ton FOB Australia.
Monday, January 18, 2010
Ferrous metals,
Raw materials
Source:
RBC Daily
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August 20, 2010
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Russian Steelmakers Increase Prices
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August 16, 2010
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Baosteel Left Its Steel Prices for September Unchanged
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July 5, 2010
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Mechel OAO Announces the Start of Coal Supplies from USA
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June 30, 2010
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Evraz Vitkovice Steel Temporarily Shuts Down its Steel Shop
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June 24, 2010
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Mechel OAO Announces Establishing Its Representative Office in Kemerovo City
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June 23, 2010
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MOODY'S CHANGES THE OUTLOOK OF NLMK'S BA1 RATING TO “POSITIVE” FROM “STABLE”.
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June 18, 2010
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Evraz Launches Rail Mill Reconstruction at NTMK
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June 15, 2010
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Ukraine's Illich steel works may combine with Metinvest after share ownership resolved
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NLMK appoints new Long Products Division Director
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June 11, 2010
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TMK Strengthens Global Footprint with TMK Africa Tubulars
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Auditors confirm NLMK’s Quality Management System complies with international standards
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June 7, 2010
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Metalloinvest is increasing bridge steel supplies
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June 2, 2010
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Steel Price Uncertainty Returns to the Developing Markets
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May 5, 2010
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Ukrainian Tubes to Russia
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May 4, 2010
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Global Steel Price Up 36 %, Y-O-Y, Despite Subdued Demand
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