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Steel

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Russia's Severstal Q2 net profit up 11% q/q

Friday, 19 Jul 2019 02:00am EDT

July 19 (Reuters) - Russia's Severstal' PAO , one of the country's largest steelmakers, says::Second-quarter net profit rose 11% quarter on quarter to $475 million from $428 million;.EBITDA in the second quarter was at $753 million, up 13.6% quarter on quarter;.Revenue in the period was at $2.18 billion, up 7.2%; .The current cost of the raw materials basket is giving certain support to steel prices and limiting their downside potential; .The company expects some deceleration of steel demand in Russia in the second half of 2019..

Prosperity International Holdings HK Posts FY Loss Attributable HK$1.83 BLN

Thursday, 18 Jul 2019 06:23pm EDT

July 19 (Reuters) - Prosperity International Holdings HK Ltd <0803.HK>::FY LOSS ATTRIBUTABLE HK$1.83 BILLION VERSUS LOSS OF HK$961 MILLION.FY REVENUE HK$2.33 BILLION VERSUS HK$4.48 BILLION.SEEKS TO RAISE CAPITAL BY DISPOSING OF SOME ASSETS SUCH AS STAKES IN SOME PROJECTS OR OTHER BUSINESSES.TALKS WITH LENDERS ARE UNDERWAY BUT NO EXTENSIONS TO REPAYMENT DATES OF BORROWINGS HAVE BEEN OBTAINED.DIRECTORS ADMIT MATERIAL UNCERTAINTY EXISTS AND MAY CAST SIGNIFICANT DOUBT ON GROUP'S ABILITY TO CONTINUE AS A GOING CONCERN.MADE APPLICATION FOR RESUMPTION OF TRADING IN SHARES WITH EFFECT FROM 9:00 A.M. ON 19 JULY 2019.

E-Commodities Holdings Appoints Cao Xinyi As CEO

Thursday, 18 Jul 2019 10:03am EDT

July 18 (Reuters) - E-Commodities Holdings Ltd <1733.HK>::DI JINGMIN HAS BEEN APPOINTED AS AN EXECUTIVE DIRECTOR.CAO XINYI HAS BEEN APPOINTED AS CEO.WANG WENGANG CEASED TO ACT AS AN EXECUTIVE DIRECTOR AND CEO.

Nucor Reports Q2 Earnings Per Share Of $1.26

Thursday, 18 Jul 2019 08:00am EDT

July 18 (Reuters) - Nucor Corp ::NUCOR REPORTS RESULTS FOR SECOND QUARTER OF 2019.Q2 SALES $5.9 BILLION VERSUS REFINITIV IBES ESTIMATE OF $6.02 BILLION.Q2 EARNINGS PER SHARE $1.26.PERFORMANCE OF RAW MATERIALS SEGMENT IS EXPECTED TO DECREASE IN Q3 OF 2019 AS COMPARED TO Q2 OF 2019.PROFITABILITY OF NUCOR'S STEEL PRODUCTS SEGMENT IS EXPECTED TO CONTINUE TO IMPROVE DURING Q3 OF 2019 AS COMPARED TO Q2 OF 2019..UNUSUALLY WET WEATHER AND AGGRESSIVE SUPPLY CHAIN DESTOCKING IMPACTED MILL ORDER RATES IN FIRST HALF OF 2019.EXPECT PERFORMANCE OF STEEL MILLS SEGMENT IN Q3 OF 2019 TO BE LOWER THAN THIS YEAR'S Q2.HAVE SEEN LOWER VOLUMES DURING FIRST HALF OF THIS YEAR RESULTING IN A MORE CHALLENGING PRICE ENVIRONMENT.EXPECT SERVICE CENTER CUSTOMERS WILL RESUME MORE NORMAL MARKET DEMAND-DRIVEN BUYING PATTERNS DURING Q3 OF 2019..REAL DEMAND FOR OUR PRODUCTS REMAINS STRONG IN KEY END-USE MARKETS.SEE HEALTHY CONDITIONS IN END-USE MARKETS THAT TYPICALLY ACCOUNT FOR MORE THAN TWO THIRDS OF OUR STEEL SHIPMENTS.CAUTIOUSLY OPTIMISTIC THAT PRICING HAS BOTTOMED FOR MOST PRODUCTS.AVERAGE SALES PRICE PER TON IN Q2 OF 2019 DECREASED 3% COMPARED WITH Q1 OF 2019.CAUTIOUSLY OPTIMISTIC THAT VOLUMES SHOULD BE MORE CLOSELY ALIGNED WITH REAL END-USE DEMAND IN H2 2019.TOTAL OF 6,724,000 TONS WERE SHIPPED TO OUTSIDE CUSTOMERS IN Q2 OF 2019, A 1% DECREASE FROM Q1 OF 2019.Q2 EARNINGS PER SHARE VIEW $1.29 -- REFINITIV IBES DATA.AVERAGE SALES PRICE PER TON IN Q2 OF 2019 DECREASED 2%.

BE Group Invests SEK 60 Million In Norrköping

Thursday, 18 Jul 2019 02:00am EDT

July 18 (Reuters) - BE Group AB (publ) ::SIGNIFICANT INVESTMENTS BY BE GROUP IN NORRKÖPING.TO INVEST IN A NEW PRODUCTION LINE FOR CUTTING, BLASTING AND PAINTING IN NORRKÖPING..INVESTMENTS AMOUNT TO APPROXIMATELY SEK 60 M.EXISTING RENTAL AGREEMENT HAS BEEN EXTENDED UNTIL 2029 FOR NORRKÖPING SITE..

Sen Yue Holdings Intends To Set Up Smelting Facility

Wednesday, 17 Jul 2019 07:47pm EDT

July 18 (Reuters) - Sen Yue Holdings Ltd ::INTENDS TO SET UP A SMELTING FACILITY AS PART OF GROUP'S WASTE MANAGEMENT BUSINESS.TOTAL ESTIMATED COST OF PROJECT IS APPROXIMATELY S$4 MILLION.

India's NMDC June Production Rises To 2.52 MT

Wednesday, 17 Jul 2019 04:46am EDT

July 17 (Reuters) - NMDC Ltd ::SAYS JUNE PRODUCTION 2.52 MT VERSUS 2.45 MT YEAR AGO.JUNE TOTAL SALES 2.66 MT VERSUS 2.25 MT LAST YEAR.

Prosperity International Holdings HK Sees Loss Between HK$1,900 Mln To HK$2,000 Mln For Year

Tuesday, 16 Jul 2019 10:45am EDT

July 16 (Reuters) - Prosperity International Holdings HK Ltd <0803.HK>::EXPECTS TO RECORD A LOSS RANGING FROM HK$1,900 MILLION TO HK$2,000 MILLION FOR YEAR ENDED 31 MARCH 2019.EXPECTED RESULT DUE TO DECREASE IN REVENUE GENERATED FROM SALES OF PROPERTIES.

Yorkshine Says It Transferred 2 Units To A Co Owned By Executive Chairman

Tuesday, 16 Jul 2019 05:25am EDT

July 16 (Reuters) - Yorkshine Holdings Ltd ::CO TRANSFERRED 2 UNITS TO A CO WHICH OWNED BY EXECUTIVE CHAIRMAN OF CO.EXPECTS ABOUT US$6.5 MILLION NET LIABILITIES TO BE DERECOGNISED FROM GROUP'S FY19 STATEMENTS.

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