Arcelor Mittal

ArcelorMittal puts up for sale 3 plants in the USA

​ArcelorMittal group has confirmed its intention to sell a part of its assets in the USA: the enterprises specializing in the output of long products - LaPlace, Steelton and Vinton.
The most attractive among these 3 assets is Steelton in Pennsylvania. This mini-plant with the capacity of 1 mln metric tons a year is one of the 3 plants in Americas able to produce railway rails. Its assortment also comprises bloom and special sort-rolled products for railway manufacturing. The LaPlace mini-plant in Louisiana an annually cast up to 620 thousand tons of steel and produce up to 480 thousand tons of fittings and shape steel –rolled stock. The Vinton mini-plant is located in Texas, has a capacity of up to 320 thousand tons a year and produces fittings and grinding balls.
ArcelorMittal doesn’t release either the details of the deal or possible buyers, or future fate of the enterprises if they are not sold in the near future. However, in March 2015 the corporation terminated the output of sort-rolled products at its largest US metallurgical plant Indiana Harbor and in August closed the line on the hot-rolled rod at the Georgetown plant in South Carolina. ArcelorMittal ended 2015 with a $7.9 bln loss, its subdivision in North America ended Q4 2015 with the operational loss of $741 mln.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In 2015, net less of ArcelorMittal grew over 7 times

In 2015, ArcelorMittal Steel made the net loss in the amount of $7.9 billion against $1.09 billion of the net loss in 2014, the company reports.
The adjusted net loss made up $300 million against $400 million of the adjusted net income in 2014.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Steel production to be up by 14%, “ArcelorMittal Temirtau”

In 2016, Iron and Steel Works “ArcelorMittal Temirtau” is about to increase steel production and sales. Modernization of agglomeration production and the fourth blast furnace is also in the plans of the company, the press service of the company states.
“We will continue to work on the three blast furnaces with an optimal load. It will provide reliability and stability of production, help to increase the share of presence of metallurgical plant in the domestic market and increase the sale volume in the CIS and non-CIS countries’ markets.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Russian steelmakers have increasing problems on foreign markets

Excess of cheap steel on the global market led to the fact that in recent years the number of anti-dumping investigations in this area increased dramatically. The industry believes that its main threat is a sharp increase in the production in China, but closing from cheap Chinese steel importing countries also block the supply of metal from other countries, including Russia. It becomes increasingly difficult for domestic steelmakers to fight a wave of isolationism on their traditional overseas markets, and they can redirect the export to other countries always.
Since 2010, Russian steelmakers exported about one-third of the produced steel - 25-27 million tons of rolled products per year. These volumes are less than the export sales of 2008-2009, which reached 30 million tons, and may even decline because of the surge in protectionist investigations worldwide. According to the Ministry of Economy, in 2014-2015, 18 new investigations and revisions of measures affecting exports of Russian steel industry were initiated abroad, and eight of them have ended not in favor of Russia.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Net loss of ArcelorMittal rose to $1.26 bln over 9 months

​The net loss of ArcelorMittal rose by 9.6 times to $1.26 bln over 9 months.
Diluted loss per share made up $0.70 against the loss of $0.08 in Jan-September 2014. The company’s sales in Jan-September 2015 fell by 18.1% to $49.597 bln. The operational profit fell by 52.5% to $1.17 bln in Jan-September 2015.
In Q3 ArcelorMittal made a net loss of $711 mln while in Q3 2014 it made a profit of $22 mln. Diluted loss per general share made up $0.40 against the profit of $0.01 in Q3 2014. Meanwhile the sales volume in Q3 fell by 22.3% to $15.589 bln. The operational profit made up $20 mln having fallen in annual terms by 47.95 times.
Iron ore extraction in Jan-September 2015 made up 47.3 mln tons against 47.2 mln tons in Jan-September 2014. In Q3 ArcelorMittal extracted 15.4 mln tons of ore, by 2.5% less than in Q3 2014. Crude steel output in Jan-September 2015 rose by 1.14% to 70.8 mln tons, in Q3 fell by 3.3% to 23.1 mln tons.
ArcelorMittal explains its weak financial results by the steel price fall and low export prices.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal reduces production in Mexico by 90%

The Mexican division of the metallurgical group ArcelorMittal will reduce the production of slabs by 90%, as well as suspend indefinitely the operation of the Las Truchas mine. The decision, which will affect the fate of 2500 workers, was made in connection with the reduction in steel prices on world markets and the growth of the supply of steel products from China, Brazil and Russia on the market of Mexico, the SteelOrbis reports.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

“ArcelorMittal Temirtau”: Productivity of converters is up by 6.8%

There completed a scale project, the reconstruction of gas exhaust ducts of converters No1, 2, 3 at the steel melting shop of a metallurgical plant “ArcelorMittal Temirtau”. Investments make up $171 million, press service of the company states.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcellorMittal to build new metallurgical plant in Czech city Ostrava

The largest steel company in the world ArcelorMittal of the British billionaire of Indian origin Lakshmi Mittal plans to invest in the construction of a new steel plant in the northeast of the Czech Republic.
The amount of the investments can exceed a billion crowns.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Problems of China’s economy have lowered the price of the shares of ArcelorMittal by 6.7%

Metaltorg.ru reports referring to  Bloomberg, that the shares of ArcelorMittal fell to the rates of 11 years back on the background of weakening of China’s economy.
The shares of ArcelorMittal fell by 6.7% to €6.876, the lowest rate from March 2004.
The price for raw materials and the companies producing them sharply fall around the world on the background of forecasts of a slow growth of China’s economy. Metallurgical companies fight with a cheap flow of steel export from China which has sharply increased due to the reduction of the domestic demand.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

ArcelorMittal Temirtau thinks that it’s too much to reduce wage with the devaluating tenge

The largest mining and metallurgical complex in Kazakhstan ArcelorMittal has postponed decision on reduction of wages by 25%. This was reported by the press centre of the company on Friday, which added that negotiations with trade unions were ongoing.
The reason was the introduction of a floating exchange rate of Kazakhstan tenge resulting in the fall of the country’s national currency by almost 30% for a day. The Kazakh authorities have announced a new monetary policy on August 20, explained that the introduction of the floating exchange rate would allow to fill the budget losses.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer