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GE Energy Financial Services Formed Its Third Partnership with a Vess Oil Corp

Jan 10, 2014

GE Energy Financial Services, a unit of GE (NYSE:GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and ...

Tags: GE Energy Financial Services, Vess Oil, East Texas, oil reserves

S. African Iron and Steel Output Rises by 0.3 Percent Compared to The Same Month of 2012

Jan 10, 2014

According to the preliminary data released by Statistics South Africa (SSA), in November last year South Africa's manufacturing output rose by 0.3 percent compared to the same month of 2012, while the seasonally adjusted manufacturing ...

Tags: Iron and Steel, Steel Output, African Steel

Net Loss Reported by Schnitzer for Fiscal Q1

Jan 10, 2014

Schnitzer Steel Industries, Inc. reported Wednesday an adjusted loss per share of $(0.18) and a loss per share of $(0.23) for its fiscal 2014 first quarter ended November 30, 2013. Adjusted results for the first quarter exclude a $2 ...

Tags: Schnitzer, Net Loss, Steel News

Track Will Be Supplied by Tata Steel to French Rail Operator

Jan 10, 2014

Indian steel giant Tata Steel has announced that it has won a two-year contract to supply over 200,000 mt of track to French rail operator SNCF. Under the contract Tata Steel will supply the majority of SNCF's rail requirements in ...

Tags: Tata Steel, Track Supply, Steel News

Turkey's Scrap Usage Decreases by 5.6 Percent Year on Year to 28.23 Million Mt

Jan 10, 2014

According to a statement released by the Turkish Iron and Steel Producers' Association (TCUD), in the January-November period last year Turkey's scrap consumption decreased by 5.6 percent year on year to 28.23 million mt, due to the 3.2 ...

Tags: Scrap Usage, Steel News, Steel Scrap

Turkey's Stainless Flat Steel Imports Increased by 30.59 Percent in November Last Year

Jan 10, 2014

In November last year, Turkey's stainless flat steel imports decreased by 0.48 percent compared to the previous month to 39,445 metric tons, following the 4.95 percent month-on-month decrease recorded in October, according to the data ...

Tags: Stainless Steel, Flat Steel, Steel Imports, Turkey Steel News

Brazil's Petrobras Will Sell 5 Billion U.S. Dollars' Worth of Bonds

Jan 10, 2014

Brazilian state-owned oil and gas giant Petrobras said Tuesday that it will sell 5 billion U.S. dollars' worth of bonds to fund its 2013-2017 business management plan. The bonds, issued by Petrobras Global Finance, a subsidiary, are ...

Tags: Petrobras, Global Bonds

Production Will Be Cut by Ukraine-Based DMKD in January

Jan 10, 2014

Dneprovsky Iron and Steel Works named after F. Dzerzhinsky (DMKD), a subsidiary of Ukrainian steel producer Industrial Union of Donbass (ISD), plans to decrease its production in the current month of January. In particular, DMKD plans to ...

Tags: DMKD, Production Cut, Ukraine Steel News

Ferrous Metal Shipments Decline 4.5% Year-on-Year by Russian Railways

Jan 10, 2014

According to the State Statistics Committee of Russia (Russtat), in 2013 total shipment volumes by Russian railway monopoly Russian Railways (RZD) - including ferrous metals, coal, oil, fertilizers and timber - fell by 2.8 percent year on ...

Tags: Ferrous Metal, Russian Railways, Steel News

Baogang Group Output Increased by 488,100 Mt or 62.83 Percent in 2013

Jan 10, 2014

On January 9, Inner Mongolia-based Chinese steel producer Baotou Iron and Steel (Baogang Group) announced that its rail and beam plant achieved a total output of 1.2651 million mt of steel rails in 2013, exceeding the production target for ...

Tags: Baogang Beam, Rail Plant, Steel Rail

Brazil's Industrial Output Increases 0.4 Percent From November 2012

Jan 10, 2014

Brazil's national statistics agency (IBGE) has reported that in November last year industrial production in the largest Latin American country decreased by 0.2 percent compared to October and was up 0.4 percent from November 2012. In ...

Tags: Industrial Output, Brazil's Industrial Output

China Railway Corp. Expects to Transport 3.28 Billion Mt of Goods in 2014

Jan 10, 2014

On January 9, Sheng Guangzu, general manager of China Railway Corporation (CRC), stated that in 2014 CRC expects to carry 2.27 billion passengers, up 10 percent, while it expects to transport 3.28 billion mt of goods, up two percent, both ...

Tags: China Railway, Billion Mt of Cargo

New Steel Processing and Distribution Center Will Be Opened by Cargill in Colorado

Jan 10, 2014

Cargill Inc. announced Wednesday plans to build a new steel processing center in Windsor, Colorado,? about 60 miles north of Denver, to supply the state's booming oil and gas industry. "By locating in northern Colorado, which is in the ...

Tags: Steel, Steel News, Cargill, Steel Processing and Distribution

New Steel Processing and Distribution Center Will Be Opened by Cargill in Colorado

Jan 10, 2014

Cargill Inc. announced Wednesday plans to build a new steel processing center in Windsor, Colorado,? about 60 miles north of Denver, to supply the state's booming oil and gas industry. "By locating in northern Colorado, which is in the ...

Tags: Steel, Steel News, Cargill, Steel Processing and Distribution

Investigation Is Launched by Australia for Certain Steel Plate Imports

Jan 10, 2014

The Australian government has decided to launch an antidumping duty investigation regarding quenched and tempered steel plate imports from Finland, Japan and Sweden. The investigation follows an application by Australia-based Bisalloy ...

Tags: Certain Steel Plate, Steel, Steel News

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