ArcelorMittal South Africa: Steel Prices Unchanged in February
ArcelorMittal South Africa Ltd. is rolling over its prices from January to February, marking the third consecutive month that the steelmaker has kept prices unchanged, company spokesman Sven Lunsche said Monday.
ArcelorMittal South Africa, majority owned by ArcelorMittal (MT), the
world’s largest steelmaker, said it operated at 75% of full capacity in
the fourth quarter, as previously forecast.The company is due to announce its fourth quarter 2009 results Feb. 10.
Source: Dow Jones
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ArcelorMittal South Africa Ltd., a unit of the world’s largest steelmaker, said it’s receiving iron ore from its main supplier under the terms of a disputed supply contract until their disagreement is resolved.
Kumba Iron Ore Ltd., a unit of Anglo American Plc., may stop supplying the steelmaking ingredient to ArcelorMittal South Africa Ltd. if the companies can’t agree an interim accord while a dispute over a long-standing contract is resolved. While halting supply is an “option of last resort,” if the companies
Kumba Iron Ore Ltd. denied that it agreed to continue supplying the steelmaking ingredient to ArcelorMittal South Africa Ltd. under the terms of a disputed contract while arbitration over the accord is continuing
ArcelorMittal South Africa Ltd. said it’s reviewing its decision to impose a surcharge on steel products after reaching an interim supply agreement with Anglo American Plc’s Kumba Iron Ore Ltd. for deliveries of iron ore.
A spokeswoman for Kumba said that it was hard to say how long the arbitration process would take, but it wanted a speedy resolution.
ThyssenKrupp, Germany’s biggest steelmaker, wants to raise prices of steel products by up to 100 euros ($121.9) per tonne for third quarter delivery, a company source said on Monday. The source said customers who were asking for quotations from the German steelmaker for hot rolled coil (HRC), a key steel
South Africa’s Competition Commission started a “preliminary” investigation into a decision by ArcelorMittal South Africa Ltd., a unit of the world’s largest steelmaker, to impose a surcharge on steel products. The commission received a letter from the Department of Trade and Industry asking it to look at whether the move
ArcelorMittal Chief Executive Officer Lakshmi Mittal said the steelmaker plans to triple iron- ore output in Brazil by 2014 to cut dependence on mining companies, as Vale SA and BHP Billiton Ltd.
Kumba Iron Ore Ltd., a unit of Anglo American Plc, said it reached an interim agreement for deliveries of the steelmaking ingredient to ArcelorMittal South Africa Ltd. while arbitration over a supply dispute continues. Kumba, based in Pretoria, on March 1 canceled a nine-year- old supply pact under which ArcelorMittal
ArcelorMittal’s planned iron-ore venture in Liberia and Guinea with BHP Billiton Ltd., the world’s biggest mining company, may produce as much as three times the volume that the steelmaker could on its own, said Joseph Mathews, chief executive officer of the Liberian unit. “If we have this joint venture, then
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