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rffrydr
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 Posted: Wed Aug 17, 2011 2:16 pm Post subject: |
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THE UNITED STATES STEEL INDUSTRY IS AGAIN REPORTING STRONG GROWTH IN ORDERS
In the week ending August 13, 2011, domestic raw steel production was 1,883,000 net tons while the capability utilization rate was 77.0 percent. Production was 1,647,000 tons in the week ending August 13, 2010, while the capability utilization then was 68.1 percent. The current week production represents a 14.3 percent increase from the same period in the previous year. Production for the week ending August 13, 2011 is up 0.2 percent from the previous week ending August 6, 2011 when production was 1,879,000 tons and the rate of capability utilization was 76.8 percent.
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rffrydr
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| Posted: Sun Jul 10, 2011 9:38 am Post subject: |
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More restructuring in the steel sector is further turning Germany into an "investor friendly" place (although their most friendly feature is to forget about quarterly "hits and misses"):
ThyssenKrupp: softer side
| Quote: | There is more than one way to skin a cat, or, in the case of ThyssenKrupp, reduce debt. Last week, the German steel and engineering conglomerate saw the sale of its civilian shipbuilding business to Abu Dhabi MAR torpedoed. Now, ThyssenKrupp has unveiled plan B: sell about €1.7bn worth of treasury shares. This, combined with 2011’s free cash flow, should help it reduce debt from the current level of about 60 per cent of equity to about 30 per cent by the end of the year – a figure that may help improve its current BB+ credit rating.
After years in the wilderness, ThyssenKrupp is finally learning to love its investors. As Credit Suisse points out, ThyssenKrupp’s shares underperformed the European steel index during the last decade by about three-fifths. Even though the price of iron ore, the key component in steel, has almost tripled in the last five years, expensive over-investment in capacity has damped returns of the entire steel industry. So far this year, however, ThyssenKrupp has outperformed the index, partly due to its restructuring plans, which include jettisoning several divisions accounting for about one-quarter of its revenues.
So even though the share sale will dilute ThyssenKrupp’s earnings next year by perhaps 7 per cent, investors who marked the company’s shares down by 4 per cent on Thursday should relax. Not only will the company benefit from lower leverage, but the sale is proof that chief executive Heinrich Hiesinger is committed to revitalisation plans which should pare down the perhaps 30 per cent conglomerate discount at which the company’s stock currently trades.
The big unanswered question, though, regards the steel division. An eventual sale would help ThyssenKrupp discard the conglomerate label, boosting its share price. With Mr Hiesinger under pressure to do just that, a sale may be closer than the market thinks. |
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rffrydr
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rffrydr
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| Posted: Sat Sep 25, 2010 8:26 am Post subject: |
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These steel stocks on the run on account of a different kind of cycle....trade cycle:
http://www.marketwatch.com/story/us-files-wto-cases-vs-china-on-steel-services-2010-09-15
| Quote: | | "We can't stand by while China abuses its unfair trade laws for protectionist purposes," said Sen. Charles Grassley (R., Iowa), the lead Republican on the Senate Finance Committee. He called for the U.S. to file a case against Chinese currency manipulation, as well.... |
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rffrydr
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| Posted: Tue Jul 27, 2010 2:56 pm Post subject: |
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$0.62/share currency whack. Our old Pittsburgh Polkas have ratcheted up expansion in Poland quite a bit this last half-decade. Wonder when we follow BP and claim no domicile?
http://www.reuters.com/article/idUSN279936020100727
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rffrydr
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rffrydr
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rffrydr
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| Posted: Tue May 12, 2009 11:14 am Post subject: |
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The china syndrome:
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rffrydr
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rffrydr
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rffrydr
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rffrydr
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| Posted: Wed Mar 04, 2009 6:09 am Post subject: |
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Tata downgraded, largely on Corus debt. But these are strong hands and production has been swiftly and dramatically cut in the West. Despite this being one of the bellringer deals I wouldn't bet on a debt failure here.
X touched $28 in nov selloff; 16 the other day. I'd say SP is sniffing out a bottom again even if the product could come down another 10-20 percent.
http://www.bloomberg.com/apps/news?pid=20601110&sid=aTtitX2l_j04
Big relief here to the automakers.
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rffrydr
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| Posted: Mon Mar 02, 2009 4:46 pm Post subject: |
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60% of chinese steel cos are operating at a loss but optimism suffuses the miners:
http://www.bloomberg.com/apps/news?pid=20601081&sid=a5d6EirUFjRA&refer=australia
| Quote: | | .... Shipments may rise to 337.5 million metric tons in the 12 months ending June 30, 2010, up from 298 million tons a year earlier, the Canberra-based Australian Bureau of Agricultural and Resource Economics said today. Exports may gain a further 11 percent the following year, it said. |
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rffrydr
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rffrydr
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| Posted: Thu Feb 12, 2009 8:45 am Post subject: |
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We gotta be close, got the Goldman downgrade this last week. I'm not buying but: Chinalco deal, protectionism, better than expected autos, and a continuing deep water drilling (they make the pipes), and de-hedging from brutalized funds. And it still pays a dividend.
These were the same guys cheering the end of the autos so they could sell more to china spot market.
http://uk.reuters.com/article/mideast/idUKTRE51A05W20090211
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