February 2016

Mexico’s ICH sees earnings more than double in Q4

Mexican steelmaker Indústrias CH (ICH) saw its earnings more than double year-on-year in the fourth quarter of 2015 due to lower costs and expenses.

Mexico's Grupo Simec reports $20m earnings in Q4

Mexican steelmaker Grupo Simec saw its earnings before interest, taxes, depreciation and amortisation (Ebitda) reach 368 million Mexican pesos ($20.13 million) in the fourth quarter of 2015, the company said on Monday February 29.

ArcelorMittal Brasil earns $51m from byproduct sales in 2015

ArcelotMittal Brasil sold around 3.40 million tonnes of steel output byproducts in 2015, generating revenues of 203.50 million Reais ($50.94 million).

Mexico's Ahmsa reports $61m net loss in Q4

Mexico’s biggest integrated steelmaker, Altos Hornos de México (Ahmsa), has reported a net loss of 1.11 billion Mexican pesos ($60.72 million) for the fourth quarter of 2015.

Mexico's iron ore output down 26% in December

Iron ore production in Mexico dropped by 25.98% year-on-year in December 2015, according to figures released by national statistics agency Inegi on Monday February 29.

Bhushan Steel to demerge downstream plants into subsidiaries

India’s Bhushan Steel will demerge and transfer its two downstream steelmaking units into separate subsidiaries.

Indian steel industry faced with higher costs as coal tax doubles

The Indian steel industry has expressed concerns about the doubling by the government of the tax on coal in its budget proposals announced on Monday February 29.

New blast raises Severstal coal mine death toll to 36

The death toll at a Severstal-operated coking coal mine in north-west Russia has risen to 36, as a result of another methane blast over the weekend, the steelmaker said on Monday February 29.

Pakistan’s Punjab has 150 million tonnes of iron ore, experts say

Experts have said the Chiniot district of Punjab, Pakistan, has enough high-quality iron ore reserves to operate a one million-tpy steel mill for 30 years, market participants told Steel First on Monday, February 29.

Ascometal to break off Vallourec talks over French mill, report says

Talks between Ascometal and Vallourec over the sale of the French tube and pipe producer’s Saint-Saulve mill in northern France may end tonight, according to a newspaper report.