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U.S. Steel to write down $1.8 bln in value of units
2013-10-19 02:26:46| Steel - Topix.net
United States Steel Corp said it expects to write down the value of two of its North American units by up to $1.8 billion, hurt by a prolonged slump in steel prices due to overcapacity and a weak global economy.
Olympic Steel creates post of director of operational excellence
2013-10-18 22:16:59| Steel - Topix.net
Olympic Steel Inc. of Highland Hills, an operator of metals service centers, has named John Howard director of operational excellence, a newly created position, and announced two more management promotions.
Tags: post
director
steel
creates
Nucor Profit Tops Estimates as Auto Demand for Steel Rises
2013-10-18 00:24:20| Steel - Topix.net
Nucor Corp., the largest U.S. steelmaker by market value, reported third-quarter earnings that beat analysts' estimates amid supply disruptions in the industry and a recovery in U.S. auto demand.
Tags: auto
demand
profit
steel
LatAm Steel: Buy Gerdau, Sell CSN, Says UBS
2013-10-17 21:09:34| Steel - Topix.net
Based on that thesis, in a series of initiation reports on Latin American steel companies, the broker recommends buying Gerdau as a beneficiary of lower iron ore price, and selling Companhia Siderurgica Nacional , or CSN , since mining is its largest earning generator.
Angang, Kobe to build $287 mln automotive steel plant in China
2013-10-17 16:49:41| Steel - Topix.net
Japan's Kobe Steel Ltd is teaming up with a local partner to build a plant in China costing some 1.75 billion yuan , aiming to meet growing demand for automotive sheet steel.
Tags: china
build
automotive
steel
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