July 2012

US Steel's Q3 2012 operating results will be below Q2 on weak economy, Surma says

US Steel expects its operating results for its flat rolled, European and tubular divisions to be positive in the third quarter 2012 but below its second quarter results, mainly due to weakness in the North American, European and emerging market economies.

US Steel Q2 2012 net income rises to $101m from net loss in Q1

US Steel reported net income of $101 million for the second quarter of 2012 due to good operating results from its European, flat rolled and Tubular segments.

Coutinho & Ferrostaal's John Foster resigns

John Foster, president and chief executive officer of the North American division of trader Coutinho & Ferrostaal has resigned, a source familiar with the matter has confirmed.

China likely to approve Hanlong’s Sundance acquisition, analyst says

China’s National Development & Reform Commission is likely to approve Hanlong Mining’s acquisition of junior miner Sundance Resources, a mining analyst told Metal Bulletin on Tuesday July 31.

Grupo Collado net sales up 10% in Q2 2012

Mexican steel service centre Grupo Collado increased its net sales revenues by 9.6% in the second quarter of 2012 in comparison with the same period last year.

Severstal North America raises flat product prices

Severstal North America joined AK Steel Corporation in raising prices on spot orders of sheet products on Monday July 31.

Ilva-Taranto crisis need not be death of Italy's steel industry, sources say

The Italian steel industry could survive the threatened closure of the Ilva-owned Taranto steel mill, market sources told Metal Bulletin on Tuesday July 31.

US ferrous scrap export prices show little change

US ferrous scrap export prices moved sideways over the past week, with little interest from Turkey and only a couple of sales from the West Coast.