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Steel: Nippon Steel forecasts 6 percent drop in earnings beating market estimates
Japan's leading steel producer, Nippon Steel Corp, forecast Thursday a 6 percent drop in annual net profit due to lower production, a much smaller decline than analysts' expectations, who said they were confident that they would be able to pass on the cost increase to...
Coal: Glencore’s profits double thanks to soaring prices
Glencore, a mining and commodities operator, on Thursday reported record profits of $18.9 billion in the first half of 2022, doubling last year's figure thanks to a boom in thermal coal. Unlike rivals including Anglo American, Rio Tinto, and BHP, which have bowed to...
Cast iron and steel: Chinese production will mark a modest rebound in early August
China's daily production of pig iron and crude steel may see a modest rebound in early August, following July's decline, thanks to some steel mills' increased output due to the recent improvement in profit margins. However, most steel mills are wary of the margin...
Steel: the European hollow sections market is flat
Prices for steel hollow sections in Europe were unchanged in the week to Wednesday, Aug. 3, with market activity likely to remain stagnant until the end of the summer vacations. The weekly valuation for steel sections delivered to southern Europe was 1,140 -1,180...