Nieuws en info hier plaatsen (deel 3)

1. voda 31 oktober 2012 16:15

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   ArcelorMittal 'niets om over te juichen' - Kepler
   
   
   AMSTERDAM (Dow Jones)--Kepler Research stelt dat ArcelorMittal (MT.AE) niets te juichen heeft met betrekking tot de resultaten over het derde kwartaal en de outlook. De resultaten stelden over het algemeen teleur en de meeste divisies deden het slechter dan Kepler had verwacht. Het dividend is sterker verlaagd dan de $0,50 per aandeel die Kepler had voorzien, terwijl de guidance van 's werelds grootste staalproducent voldeed aan de verwachtingen. Kepler hanteert een reduce advies met een koersdoel op EUR10,00. Omstreeks 9.40 uur noteert het aandeel 4,0% lager op EUR11,72, terwijl de AEX met 0,2% stijgt. (EVG)
   
   
   Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
   
2. voda 31 oktober 2012 16:23

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   ArcelorMittal ziet daling vraag naar staal '12 met 8%
   
   
   AMSTERDAM (Dow Jones)--Staalgigant ArcelorMittal (MT) voorziet dat de vraag naar staal in de Europese Unie (EU) in 2012 met bijna 8% zal krimpen als gevolg van de zwakke economische groeivooruitzichten.
   
   Het bedrijf geeft tevens aan te voorzien dat de druk op de vraag naar staal in de Europese Unie ook in het volgend boekjaar zal voortduren.
   
   Naar verwachting is de vraag naar staal in de EU in de eerste negen maanden van 2012 gedaald met circa 9,5% ten opzichte van een jaar eerder. De vraag naar staal in de EU ligt daarmee ruim 28% onder het niveau van 2007, toen de vraag naar staal wereldwijd sterk was.
   
   "De onderliggende vraag naar staal blijft afnemen in Europa. Onze klanten blijven voorzichtig en vanwege de onzekerheid schalen zij hun investeringen terug", aldus Robrecht Himpe, hoofd van de Europese divisie van Flat Carbon ArcelorMittal.
   
   Het bedrijf kondigde reeds eerder zijn plannen aan om vier hoogovens in Europa te sluiten, twee in Belgie en twee in Frankrijk, en heeft tevens tijdelijk een deel van zijn overige productiecapaciteit stilgelegd vanwege de dalende vraag.
   
   De ArcelorMittal Flat Carbon Europe divisie boekte het afgelopen kwartaal een operationeel verlies van EUR303 miljoen. De omzet daalde met 12,5% tot EUR4,9 miljard.
   
   Het concern meldt niet te verwachten dat de vraag voor 2014 in Europa zal aantrekken en meldt dat "de vraag in de eurozone als geheel naar verwachting in 2013 op zijn best zal stagneren".
   
   
   - Door Alex MacDonald; Bewerkt door Patrick Buis; Dow Jones Nieuwsdienst; +31 20 571 52 00; patrick.buis@dowjones.com
   
   
   
3. voda 31 oktober 2012 16:26

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   Aperam zwak derde kwartaal - Nomura
   
   
   AMSTERDAM (Dow Jones)--Nomura stelt dat Aperam (APEMY) een zwak derde kwartaal heeft doorgemaakt, hoewel grotendeels in lijn met de verwachtingen. De voorzichtige verwachtingen voor het vierde kwartaal, op een vergelijkbare Ebitda aan de sterk gedaalde Ebitda over het derde kwartaal, lijken wat Nomura betreft niet te conservatief. Naar verwachting van Nomura kunnen hogere importheffingen in Brazilie de Ebitda in 2013 een impuls geven van ongeveer $45 miljoen. Aperam blijft Nomura's favoriete aandeel binnen de roestvast staal sector, hoewel Nomura op staalgebied de voorkeur geeft aan carbon staal. Dinsdag sloot het aandeel op EUR11,86. (EVG)
   
   
   Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com
   
4. voda 31 oktober 2012 16:26

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   ArcelorMittal boekt 45,8% lagere EBITDA KW3 '12
   
   
   Door Patrick Buis
   
   Van DOW JONES NIEUWSDIENST
   
   
   AMSTERDAM (Dow Jones)--Staalgigant ArcelorMittal (MT.AE) heeft in het derde kwartaal een 45,8% lagere winst voor rente, belastingen, afschrijvingen en goodwill-amortisatie (EBITDA) geboekt, vanwege de voortdurende moeilijke economische omstandigheden wereldwijd en de vertraging van de economische groei in China in het bijzonder, waardoor de vraag naar staal en de staalprijs gedurende het derde kwartaal van 2012 verder onder druk kwamen te staan.
   
   Vanwege de voortdurende moeilijke marktomstandigheden meldt het concern tevens zijn dividend per 2013 te verlagen naar $0,20 per aandeel van $0,75 per aandeel. Daarnaast geeft de staalgigant aan te voorzien dat de uitdagende marktomstandigheden zich in het vierde kwartaal zullen voortzetten. Dientengevolge heeft het concern zich tot doel gesteld zijn activiteiten verder te optimaliseren, zijn nettoschuldpositie te verbeteren en de productiviteit en efficiency te verbeteren.
   
   De staalreus geeft tevens aan dat zijn besparingsprogramma ter waarde van $4,8 miljard op schema ligt. De nettoschuld liep gedurende het derde kwartaal op met $1,2 miljard tot $23,3 miljard en de liquiditeit van het concern kwam aan het eind van het derde kwartaal uit op $13,4 miljard.
   
   Het concern boekte in het derde kwartaal een EBITDA van $1,3 miljard, van $2,4 miljard een jaar eerder.
   
   De winst voor rente en belastingen (EBIT), ofwel bedrijfsresultaat, kwam uit op $49 miljoen negatief, in vergelijking tot $1,2 miljard in dezelfde periode een jaar eerder.
   
   De staalgigant boekte een nettoverlies van $709 miljoen, tegenover een nettowinst van $659 miljoen in het derde kwartaal van 2011.
   
   Het concern rapporteert een omzet van $19,7 miljard, een daling met 18,6% ten opzichte van een jaar eerder, toen het concern een omzet boekte van $24,2 miljard.
   
   Het aantal staalverschepingen kwam de afgelopen verslagperiode uit op 19,9 miljoen ton, tegenover 21,1 miljoen ton in dezelfde periode een jaar eerder. De staalproductie kwam uit op 21,9 miljoen ton, tegenover 22,4 miljoen ton een jaar eerder.
   
   In het derde kwartaal verscheepte het concern 7,1 miljoen ton ijzererts, tegenover 6,7 miljoen ton in dezelfde periode een jaar eerder en werd 14,3 miljoen ton aan ijzererts geproduceerd, tegenover 14,1 miljoen ton een jaar eerder.
   
   
   - Door Patrick Buis; Dow Jones Nieuwsdienst; +31 20 571 52 00; patrick.buis@dowjones.com
   
   
   
5. voda 31 oktober 2012 16:44

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   'Resultaten ArcelorMittal vallen tegen'
   Gepubliceerd op 31 okt 2012 om 09:31 | Views: 1.094
   
   ArcelorMittal 16:23
   EUR 11,61 -0,61 (-4,95%)
   
   AMSTERDAM (AFN) - ArcelorMittal heeft een moeilijk derde kwartaal achter de rug. De resultaten vielen aanzienlijk lager uit dan de verwachtingen van analisten. Het dividend wordt vanaf 2013 fors verlaagd.
   
   Analist Tom Muller van Theodoor Gilissen sprak van resultaten die over de gehele linie tegenvielen. ,,Zowel de omzet als het volume ging omlaag. Dat hakt er lekker in.'' De dividendverlaging is volgens Muller logisch, omdat het staalbedrijf nauwelijks winst boekt.
   
   Muller hanteert wel een koopadvies voor ArcelorMittal, omdat hij denkt dat als er verbetering optreedt in de economie en de staalsector, ArcelorMittal als eerste zal profiteren.
   
   Hoge schuldposities
   
   Bij Rabobank werd ook erkend dat ArcelorMittal een moeizaam kwartaal achter de rug heeft. Het nettoverlies van ruim 700 miljoen dollar was veel hoger dan de 100 miljoen die Rabo had verwacht. Ook Rabo stelt dat de dividendverlaging niet onlogisch is, gezien de moeilijke tijden en de hoge schuldpositie van het bedrijf. Rabo heeft ook een 'buy'-advies, maar gaf aan die under review te zetten.
   
   Woensdag om 9.20 uur noteerde het aandeel 3 procent lager op 11,85 euro. De AEX steeg 0,4 procent.
   
6. voda 31 oktober 2012 16:48

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   Debt to overshadow earnings for ArcelorMittal - Reuters Poll
   
   Reuters reported that debt and efforts to reduce it will be the preoccupation of investors when ArcelorMittal, the world's largest steelmaker, reports third quarter earnings on October 31st 2012.
   
   According to a Reuters poll, low spot prices for raw materials, principally iron ore and thin demand and weak steel markets, particularly in Europe, mean that the company is expected to report its lowest core profit for three years of USD 1.33 billion.
   
   Expectations for the fourth quarter are little better at USD 1.44 billion, implying that analysts' previous full year estimates of USD 7.34 billion may be need to be cut.
   
   A disappointing second quarter prompted ratings agency Standard & Poor's to cut the steelmaker's debt to junk status in August 2012 and Moody's to cut its outlook to negative. The latter has said that ArcelorMittal must cut net debt by USD 5 billion by early 2013 to avoid a downgrade.
   
   European steel demand remains about 25% below pre crisis levels, prompting ArcelorMittal to close blast furnaces in Belgium and France. But laying off workers will not be cheap.
   
   In the absence of rising cash flow and large one off costs, the company may consider cutting its dividend or even a rights issue, but the main push appears to be an acceleration of asset sales.
   
   Source - Reuters
   
   
7. voda 31 oktober 2012 16:49

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   Brazilian steel demand to grow by 5pct in 2013 - ArcelorMittal
   
   Bloomberg reported that according to ArcelorMittal, Brazil’s steel demand will grow at least 5% percent next year as the government prepares Rio de Janeiro for the 2014 soccer World Cup and the 2016 Olympic Games
   
   Mr Benjamin Baptista head of ArcelorMittal Brazil said in an interview in Santiago that “There is pent up demand for steel used in stadiums and other public works because some projects are behind schedule for the two sporting events. Things are this point are somewhat delayed. We will see better volumes next year.”
   
   He said “Brazilian steel consumption will grow between 5 % and 6% in 2013 after almost stagnant growth this year.”
   
   Source - Bloomberg
   
8. voda 31 oktober 2012 16:50

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   Worker found dead at troubled ILVA steel plant in Taranto
   
   ANSA reported that a 29 year old worker at the troubled ILVA steel plant in the southern Italian city of Taranto was found dead on October 30th 2012.
   
   As per report, an investigation has been launched into the cause of death after Mr Claudio Marsella's body was found next to a locomotive engine inside the plant.
   
   ILVA has for months been at the centre of a major industrial and environmental dispute since a court in the port town ordered the shutdown of its smelting facilities and mineral park in July 2012, saying the steelworks was the source of an ongoing environmental disaster.
   
   Source - ANSA
   
9. voda 31 oktober 2012 16:52

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   ThyssenKrupp looks for more from US steel mill - Report
   
   Pittsburgh Business Times reported that ThyssenKrupp is looking for new bids from the first round of companies interested in taking over a steel mill in Brazil and another in Alabama that opened in 2010.
   
   The companies reported to have made bids include Pittsburgh-based US Steel, ArcelorMittal and Nucor.
   
   ThyssenKrupp wants to sell the two facilities for USD 9 billion total, but the bids apparently were in the area of half that or about the USD 3 billion to USD 4 billion range.
   
   Source - Pittsburgh Business Times
   
10. voda 31 oktober 2012 16:55

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    Italian crude steel output dropped by 7.8pct YoY in Sep - Federacciai
    
    According to statistics released by Federacciai, Italy's crude steel output totaled 2.365 million tonnes in September 2012, falling by 7.8% YoY.
    
    Also, the country's crude steel output has dropped for consecutive six months.
    
    In the first nine months of 2012, Italy produced 20.853 million tonnes of crude steel, down by 2.6% YoY.
    
    Meanwhile, the country's crude steel output in the third quarters of this year amounted to 5.986 million tonnes, falling by 9.9% YoY.
    
    Source - www.yieh.com
    
12. voda 31 oktober 2012 17:05

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    Severstal unlikely to buy French ArcelorMittal assets - Report
    
    Reuters, citing a source close to the company, dismissing an earlier media report reported that Severstal is unlikely to buy ArcelorMittal's steelmaking plant at Florange in eastern France.
    
    A source close to Severstal ruled out the possibility of the Russian company being a buyer of the plant in the current sluggish market environment, saying the report was just rumor and speculation.
    
    Severstal declined to comment.
    
    French newspaper Les Echos had said talks to sell Florange's two mothballed furnaces had begun two weeks ago and Severstal was the most serious candidate, adding that two other bidders were also interested, without citing their names.
    
    The fate of the blast furnaces at Florange has become a hot issue in France, where President Francois Hollande's Socialist government is under pressure to reverse decades of industrial decline.
    
    Source - Reuters
    
13. voda 31 oktober 2012 20:36

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    ArcelorMittal Flat Carbon Europe reports €303 million Q3 operating loss
    
    Luxembourg, 31 October 2012 - ArcelorMittal today announced results for its Flat Carbon Europe segment for the third quarter of 2012.
    
    The segment recorded an operating loss of €303 million which includes restructuring costs but excludes interest and tax costs. The total operating loss now for the first nine months of 2012 is €643 million reflecting the continued difficult operating environment in Europe where further weakening of demand has combined with a seasonal slowdown.
    
    Compared to 2Q 2012, the segment’s crude steel production fell 5.9% to 6.7 Mt in 3Q 2012
    Steel shipments for 3Q 2012 fell to 5.8 Mt, a decrease of 13.8% as compared to 6.8 Mt for 2Q 2012; and a decrease of 8.6% as compared to 6.4 Mt for 3Q 2011 reflecting the decline is not just seasonal
    Sales were €4,9billion for 3Q 2012, a decrease of 12.5% as compared to €5,6 billion for 2Q 2012. Sales decreased primarily due to lower steel shipment volumes and lower average steel selling prices (-1.0%).
    Capital expenditure in the segment for the third quarter of 2012 was €145 million and for the first nine months of 2012 CAPEX spend reached €520 million
    
    Europe has seen declining GDP since the 3rd quarter of 2011 due to continuing decline in investment and consumption, as austerity and record unemployment weigh on demand. No sustained pick-up in Europe is expected before 2014 and the eurozone as a whole is likely to at best stagnate in 2013. PMI remains below 50 for a fifteenth month indicating manufacturing contraction. Apparent steel demand in the European Union in the first three quarters of 2012 is estimated to have declined around 9.5% year on year and we expect it to decline by close to 8% for the year as a whole. EU demand is now at least 28% below 2007 levels.
    
    Robrecht Himpe, Head of Flat Carbon Europe and member of the ArcelorMittal management committee, said “Underlying steel demand continues to weaken in Europe. Our customers remain cautious and uncertainty is causing them to scale back capital investment. Auto demand is an obvious example and there have been more announcements in recent weeks from major manufacturers as they continue to review activity in Europe. During the last quarter we’ve continued to implement measures to respond to this situation, to deliver excellent service to our customers and to become more competitive.”
    
    more:
    
    www.arcelormittal.com/corp/news-and-m...
14. voda 1 november 2012 16:55

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    Chinese market holds breath on the eve of power transition
    
    Chinese steel market has maintained stoic silence over the past one week much to the astonishment of global operators. However with bit of incision the obvious come to the fore. Change of guard slated for November 8th has kept market in limbo for both finished and raw material.
    Traders and stockiest have remained subdued in absence of clarity on the direction of economic and industrial policy. This has resulted in inactivity in the market which has remained unchanged for the last 1 week. Iron ore levels have remained unmoved during the period reflecting lull in transactions.
    
    Ironically backed by graduated hike in steel prices by 10% over the last 2 months market sentiments had been riding crest in Q4. Even though price increase has been punctuated by changing political dynamics Chinese mills have remained resolute in production spree with crude steel output touching 1.9992 million tonnes, up by 4.1% compared with that in previous ten days and 8% since September end. Rubbing salt to injury the finished steel product inventory in major markets is remained alarming at 12.43 million tonnes despite gradual reduction since National Holiday.
    
    However the market is unlikely to relapse much in the sunset of 2012 as infrastructure projects and unlikely shift in policies by the new regime would keep buoyancy intact. Moreover increase improved PMI from 49.2 to 49.8 in September indicates better consumer activity. Fixed asset formation has also shown faint revival with growth of 0.1% recently. Given the speculative tenor of steel market in China traders maintaining prices lower than the mills price but with the inklings of hike keeps transactions agog.
    
    Source - Strategic Research Institute
    
15. voda 1 november 2012 16:55

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    Chinese average daily crude steel output up by 4.3pct in mid Oct - CISA
    
    The China Iron & Steel Association stated that in mid October (October 11th 2012 to October 20th 2012), the average aggregate daily crude steel output of its member steel enterprises in China totaled 1,606,100 tonnes, up by 1.4% as compared to early October (October 1st 2012 to October 10th 2012).
    
    In mid October 2012, the average aggregate daily crude steel production of all steelmakers in China was estimated at 1,999,200 tonnes, indicating an increase of 4.3% as compared with early October 2012.
    
    According to the previous figures released by the CISA, in early October 2012, the average daily crude steel output of its member enterprises totaled 1.584 million tonnes, up by 4.9% as compared to late September (September 21st 2012 to September 30th 2012).
    
    In early October 2012, the average aggregate daily crude steel production of all steelmakers in China was estimated at 1.916 million tonnes, indicating an increase of four percent compared with late September 2012.
    
    Source - Visit www.steelorbis.com for more
    
16. voda 1 november 2012 16:56

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    Karnataka hands over land to ArcelorMittal for steel plant
    
    moneycontrol.com reported that the Karnataka government has finally handing over land to the steel major for setting up its first steel plant in India
    
    As per report, 2o years after it signed an MoU to set up a 6 MTPA steel plant in Karnataka, the state government has completed the land acquisition process for the proposed INR 30,000 crore investment and has handed over 2569 acres of land in Bellary to the company.
    
    The report cites spokesperson of ArcelorMittal as saying that “We have made progress on land acquisition in Karnataka. The Karnataka Government has transferred the requested private land in the company's name and the process to transfer another 136 acres of government land is underway. The process of getting various clearances including crucial environment clearance is underway. We have also applied for mining leases which are critical for the project. We are focusing on getting all relevant clearances.”
    
    Source - moneycontrol.com
    
17. voda 1 november 2012 16:57

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    ArcelorMittal takes up Jharkhand mines issue with Centre
    
    Press Trust of India reported that not able to make progress in its proposed INR 50,000 crore steel project in Jharkhand, steelmaker ArcelorMittal has sought centre’s help in expediting grant of mining lease in the State.
    
    Raising the issue of inordinate delays in getting mining lease for Karampada mines in Singhbhum district in Jharkhand, ArcelorMittal has told the steel ministry that all requirements have been completed but Stage Forest clearance is pending for the last 24 months.
    
    According to a steel ministry official, after the global giant raised the issue of delays, Mr DRS Chaudhary Steel secretary said that upon the state government to have a single window system for handling such applications.
    
    ArcelorMittal had entered into a pact with Jharkhand government way back in 2005 for setting up a 12 million tonne per annum steel plant at an estimated cost USD 12 billion. The Centre had given its nod to the state government’s proposal for granting prospecting license to ArcelorMittal over 662.95 hectares of land in Karampada region in 2010. The mine is estimated to have 200 million tonne of iron ore reserves.
    
    Source - Press Trust of India
    
18. voda 1 november 2012 16:59

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    ArcelorMittal announces Q3 and 9M 2012 results
    
    ArcelorMittal, the world's leading integrated steel and mining company, has announced results for the three and nine month periods ended September 30th 2012.
    
    Highlights:
    Health and safety performance: LTIF rate of 1.0x in 3Q 2012 as compared to 0.8x in 2Q 2012 and 1.5x in 3Q 2011
    
    EBITDA of USD 1.3 billion in 3Q 2012 (including negative USD 0.1 billion from employee benefit charges) as compared to USD 2.4 billion in 2Q 2012 (which included positive USD 0.3 billion of gains on subsidiary divestments)
    
    Steel shipments of 19.9 million tonnes in 3Q 2012, a decrease of 8.3% as compared to 2Q 2012 and 5.7% below 3Q 2011
    
    14.3 million iron ore produced in 3Q 2012, up by 1.3% YoY; 7.1 million tonnes shipped and reported at market price, up by 6.7% YoY
    
    Net debt increased by USD 1.2 billion during 3Q 2012 to USD 23.2 billion, driven by negative operating cash flow (including a USD 0.3 billion investment in working capital) and negative foreign exchange impacts partially offset by proceeds from asset disposal and an issuance of perpetual securities
    
    Liquidity of USD 13.4 billion at end 3Q 2012, with an average debt maturity of 6.2 years
    
    Asset optimization plan progressing: Closure of liquid phase at Liege, Belgium agreed; announced intention to launch a project to permanently close the liquid phase of Florange in France
    
    Management gains plan completed with USD 4.8 billion savings achieved ahead of schedule
    
    
    In USD million
    
    Mr LN Mittal chairman & CEO of ArcelorMittal said that "The already fragile global economy was further impacted in the third quarter of 2012 by the slowdown in China. This resulted in very challenging operating conditions for ArcelorMittal, which are expected to continue in the fourth quarter. Against this backdrop, the company is focused on delivering its plan of asset optimization, net debt reduction and productivity and efficiency improvements."
    
    Source - ArcelorMittal
    
    
19. voda 1 november 2012 17:00

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    ArcelorMittal South Africa closes Vanderbijlpark EAFs
    
    Mineweb reported that ArcelorMittal South Africa has shut down its electric arc furnaces for the foreseeable future after a 16 October deadline to implement a de dusting solution was found to be too costly given weak market conditions .
    
    The EAFs were part of a compliance notice recently received at its Vanderbijlpark works. The compliance notice from the Gauteng Department of Agriculture and Rural Development instructed the company to cease the operation of certain units at the site due to alleged non compliance with certain conditions in its Atmospheric Emission License.
    
    ArcelorMittal South Africa CEO Ms Nonkululeko Nyembezi-Heita also said that further capacity cuts would be looked at should markets remain weak.
    
    Ms Nyembezi Heita pointed to non-compliance over short periods of time when trying to fit new equipment onto old plant at its sinter plant as well as erroneous readings from monitors at its coke batteries when they were struck by lightning in March 2012 after which they were replaced and demonstrated compliance.
    
    The steelmaker's capacity utilisation for the third quarter was marginally down at 66% compared with 67% achieved in the preceding quarter, but higher than the 59% recorded in the prior year.
    
    Source - Mineweb
    
20. voda 1 november 2012 17:00

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    Hurricane Sandy impact on US steel industry not completely known
    
    Steel market Update reported that Hurricane Sandy tore through the Mid-Atlantic and Northeastern States in USA on Monday evening leaving a wide path of destruction in its wake.
    
    The storm exceeded expectations as the storm surge broke records along the eastern seaboard. The Battery Park area in New York City was under water last night as the surge reached almost 14 feet breaking the old record by almost 3 feet. News reports from last night indicated waves in the NYC harbor grew to as much as 32 feet - six feet higher than the previous record for the area.
    
    Steel Market Update attempted to contact companies up and down the east coast to see if we could get insights into the damage and its impact on the steel industry.
    
    US Steel shut down their Fairless Works plant in eastern Pennsylvania on Monday but expects to re-open the facility sometime during the day on Tuesday.
    
    We heard from a number of plants - both service center and manufacturing - as having power outage issues. Some are working on generators while others are suffering through. A number of companies felt it would be days - and perhaps weeks - before their power is restored.
    
    We spoke with a wholesaler in New Jersey who told us most of the state was without power and even though some of their facilities had generators they were having difficulties communicating with their branches.
    
    Another wholesaler located in northern Virginia reported their facility had been flooded but they were back to work today. Other companies in the area were also flooded.
    
    We communicated with a scrap company in Pennsylvania who advised us their plants were closed today but would reopen later this week. “Things along the coast will be slow for a while until power is restored. There could be some bottleneck of flows but it will be temporary. Snow in the higher elevations of West VA and PA should have minimal impact. All of our facilities are closed today but will reopen as planned on Wednesday morning.” The expectation of this scrap company was for higher ferrous scrap prices in November. Their guess was up $20 to $40 per gross ton compared to where it was at the beginning of October.
    
    Most companies we attempted to contact were closed or were not able to return either our emails or phone calls. The impact of Hurricane Sandy on the steel industry may take a few days to sort out.
    
    Source - steelmarketupdate.com
    
21. voda 1 november 2012 17:02

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    Mexican steel consumption seen growing by 6pct in 2012
    
    According to Mr Raúl Gutiérrez Muguerza, general director of Mexican steelmaker Deacero and outgoing president of Latin American steel association Alacero, steel demand in Mexico is set to grow by 5% to 6% in 2012.
    
    Mr Gutiérrez said at a press conference in Santiago in response to a question from BNamericas that the conditions are in place in Mexico for investments in new steel capacity, and the country has a USD 15 billion steel project pipeline set to add 6 million tonnes per annum in the coming years.
    
    He added that "Expectations are rather high and reform proposals from the new government will help propel Mexico's overall economic growth. This year the country is going to grow around 4%, and in the following years it could be growing at 5% to 6% due to these reforms, and also due to the macroeconomic situation in Mexico."
    
    According to figures from Alacero, apparent finished steel consumption in Mexico in 2011 was 18.0 million tonnes.
    
    Mexico was the world's 13th largest crude steel producer in 2011, with 18.2 million tonnes and is forecast to turn out 18.5 million tonnes in 2012. The nation saw output grow 9% in 2011.
    
    Apart from Deacero, producers active in the country include AHMSA, ArcelorMittal México, Grupo Simec, Ternium México, Tamsa and Villacero.
    
    Source - Business News Americas