April 2013

IRON ORE DERIVATIVES WRAP: Little movement in OTC values on China holiday

The iron ore swaps market saw little action on Tuesday April 30, with the bulk of the market out for China’s Labour Day break.

‘Different value perception’ pushes Ternium out of CSA stake sale process

Latin American steelmaker Ternium has ruled itself out as a possible bidder for ThyssenKrupp’s 73.13% stake in the 5 million-tpy CSA slab plant in Brazil.

US Steel posts $73m loss in Q1

US Steel posted a $73 million net loss in the first quarter as improved results by its tubular and European segments were offset by a weaker performance in the company’s flat-rolled operations.

Mexico’s ICH revenues down 18% in Q1

Mexican steel producer Industrias CH (ICH) saw its sales revenues fall 18% year-on-year in the first quarter of 2013, it said in a statement filed with Mexico’s stock exchange late last week.

Lower steel prices dent Ternium’s Q1 results

Latin American steelmaker Ternium has reported lower year-on-year financial figures in the first quarter as a result of a drop in steel sales prices in some of its markets, it announced on Tuesday April 30.

Ahmsa Q1 sales revenues down by 4.8% year-on-year

Mexico’s biggest integrated steelmaker, Altos Hornos de México (Ahmsa), saw its sales revenues fall by 4.8% in the first quarter this year compared with the same period of 2012.

Mexico’s Simec sees 20.6% drop in Q1 revenues

Mexican steelmaker Grupo Simec reported a decrease of 20.6% in its sales revenues in the first quarter of 2013 compared with the corresponding period of 2012.

US raw steel production inches up 0.4%

US raw steel output totaled an estimated 1,866,000 net tons last week.

Private equity, traders step up mining M&A activity – BNP Paribas

Private equity and trading firms are stepping up their merger and acquisition activity in the mining sector, which is seeing its traditional investment patterns evolve and change, a managing director at BNP Paribas said.

Mine projects sweet spots in early stages – Tocqueville

There are a couple of key investment "sweet spots" in mining projects, both of which are prior to the production stage, a co-portfolio manager at Tocqueville Asset Management said.