China's Wuhan Iron & Steel has sent its 2010 annual report to the Shanghai Stock Exchange, in which, the company has said that they are expecting steel demands to weaken in 2011, in context to which they are further trimming profit margins for the country's steel sector.
ThyssenKrupp AG has informed that, there has been a huge rise in its net profit and revenues in the first quarter of the ongoing financial year. ThyssenKrupp AG is one of the leading steelmaker from Germany.
According to a statement released by the company at Berlin, it has earned euro298 million from during the April-June quarter. It has also informed that there has been a remarkable hike in the number of orders in this period of time.
A fall of 78% has been witnessed by Steel & Tube Holdings in one of the most difficult trading years in its long history. It is the largest distributor of steel and allied products in New Zealand. In the wake of its earnings report, its share price reported a drop of 3.6% to $2.14.
The London Metal Exchange amalgamated with its two local steel futures deals to craft and design an international one, targeting to churn out more business in Asia, where metals trading is on the heights at the moment.
The Exchange is unionizing with two of its regional contracts, one is the Mediterranean and the second one is the Far East which is under the former that already accounted for approximately all of the steel futures quantities.
The Chinese owners of miner Sinosteel Midwest Corporation Ltd. is witnessed to be concerned regarding the Federal Government's proposed resources super profits tax (RSPT), the Company's Chief Operating Officer Giulio Casello posts.
However, he claims that they remain devoted to mining in Western Australia's mid-west, considering the robust potential the region possesses in giving a spectacular supply of iron ore exports to China.
Today, BlueScope Steel announced that it is optimistic about the coming times and expecting a return to profit in 2009-10, mainly on the back of a surge in steel prices.
The largest and top-ranked steel manufacturer in Australia recently posted a first-half loss of $28 Million, contrary to the market expectations which pegged the figure to a loss of $14 Million for the six months up to December 31,