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A year ago analysts thought steelmaker ArcelorMittal SA would be lucky to make US$2bil (RM8.43bil) of net profit in 2021.
SAO PAULO (Reuters) - Brazilian miner Vale SA said on Monday its subsidiary Vale Canada has signed a deal to sell its 50% stake in steelmaker California Steel Industries to Nucor Corporation for $400 million.
BEIJING: ArcelorMittal SA warned that Chinese steel demand will contract this year due to headwinds facing the real estate sector, in the latest sign of the widening fallout from the China Evergrande Group’s crisis.
KUALA LUMPUR: Higher steel prices propelled Southern Steel Bhd's earnings in the July-September quarter, but while demand was projected to gradually improve coming months, prices are expected to be volatile.
(Bloomberg) -- Iron ore futures extended losses below US$100 a ton on shrinking steel output in China and signs economic growth is facing mounting headwinds.
Vietnam’s largest listed steelmaker plans to expand into manufacturing home appliances, anticipating opportunity as companies shift production into other countries as doing business in China becomes more expensive.
NEW YORK: Steel prices, driven to nosebleed highs by surging demand, should start to “erode” by the first part of next year as Covid-related supply bottlenecks ease and new domestic production comes online, said Mark Millett, the chief executive of the fourth-largest United States steelmaker, Steel Dynamics Inc.
NEW DELHI: India’s coal power giant NTPC Ltd expects to raise 150 billion rupees (US$2bil or RM8.4bil) through initial public offerings (IPOs) in three units including its renewables business, and the paring of a joint venture stake, according to a company official familiar with the plans.
LONDON (Reuters) - Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.
NEW YORK: Several United States companies, including American Airlines Group Inc, General Motors and Microsoft Corp, have built on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates’ Breakthrough Energy programme.