ArcelorMittal, the world’s largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. ArcelorMittal’s share price has dropped 60 percent in the past 12 months, cutting …
Entradas de marzo de 2016
Mar 22
Alcoa sees resilient global demand in 2016
Alcoa, the US aluminium group, expects global demand for the metal to grow 6 per cent this year, only slightly slower than 2015, in spite of the volatility in financial markets. Klaus Kleinfeld, chief executive, said increased market volatility could have an impact on growth but he expected aluminium demand to keep growing, provided …
Mar 09
World steel chief calls Chinese glut ‘serious and critical’
The global steel industry is reeling amid a plunge in steel prices, a flood of low-priced imports from China and other countries, and a collapse in investment in pipes for oil drilling as a result of tumbling crude prices. USA TODAY economics reporter Paul Davidson spoke about these challenges with Wolfgang Eder, chairman of the …