Reuters reported that proceeds from a potential sale of Thyssenkrupp’s elevator division must stay with the group. A leading labor representative rejecting the idea of a special dividend for shareholders said that “We won’t let that happen. The steel unit needs sufficient funds just like the other business areas.” His remarks come a day after…
Sentiment in the European market for hot-rolled coil (HRC) has been gloomy in the week ended Thursday September 12 due to low demand, sources told Fastmarkets. While domestic prices have been relatively stable over the past week, buyers have been targeting lower prices and they expected the mills to slightly decrease their prices in the…
A global leader in special long steel SCHMOLZ + BICKENBACH lowered its earnings forecast for the 2019 financial year on the basis of the preliminary figures for the first eight months of 2019 available at the end of August. The company is now forecasting adjusted EBITDA of between EUR 70 million and EUR 100 million.…
Chinese iron ore futures rose for a second day on Tuesday on expectations the country will enact more economic stimulus measures that would boost steel demand in the world's largest consumer of the metal. The country plans to create favourable conditions for private Chinese companies and to improve the competitiveness of its manufacturing sector, as…
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval. HKEX’s £29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on…
JSW Steel has recorded a 13% drop in crude steel production in August 2019. JSW Steel informed BSE that crude steel production for August 2019 was at 1.25 million tonnes as compared to 1.45 million tonnes in the same period last year. Production of flat rolled products saw a decline of 13 per cent to…