Preview of Today's Top Article July 22
Tata lists on London Stock Exchange, raises $500m
Tata Steel, parent company of Anglo-Dutch producer Corus, has raised $500m (€351m) through a listing on the London Stock Exchange.
The company issued 65.4m global depository receipts (GDRs) in London, with every GDR representing one ordinary share, priced at $7.644 each. Tata increased the offering from $400m to $500m because of demand from investors, it says.
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TODAY'S TOP SBB HEADLINES
Buyers take breather in ever-rising SE Asian HRC market
CIS billet export prices drift on lack of buyers
Italian HRC market heats up, Riva increases price
The Steel Index launches Europe rebar-billet price spreads
Prices for plate still seen fairly flat in N.
Europe
AK Steel expects US auto orders to be up 40% in Q2
Brazilian longs prices to stabilize in second half
Europe
ArcelorMittal Spain schedules summer closures
Longs prices increase in July in northern Italy
Corus Port Talbot 'uncompetitive', Tata warns
ArcelorMittal to release 300 workers in Czech Republic
Turkish flat steel output declines a bit in June
Turkish mill cuts prices for pig iron and some sections
Italian plate market improves slightly
Asia
Vietnamese importers mull re-export of HRC cargoes
Shougang steps up autosheet sales
New tyre cord plant set up in northern China
Tata lists on London Stock Exchange, raises $500m
Posco lifts output target by 6%, restarts blast furnace
Baosteel Special Steel starts new slab caster
Japan’s June output down but JISF sees improvement
Chinese HRC prices rise, inventories too
Tokyo Steel lifts most domestic prices for August
China Steel to bring forward blast furnace restart
Danieli to install HDG line at Tianjin, China
Japanese importers officially duty-free: Thailand
North America
Ashland BF could continue to operate with US order uptick
AK anticipating 27% rise in Q3 shipments, stagnant pricing
NA processor Barzel posts $31m quarterly loss
Q2 sales down for Beta Steel, but US shows 'positive signs'
US steelmaker makes $110m pension contribution
Latin America
Argentina's Aceros Zapla operating at 20% of capacity
Argentinean flats prices stable during July
Vale increasing Ponta da Madeira export capacity
Ciafal at 95% capacity, continuing with expansion plans
Inventories said to be back to 'normal' in Peru
Usiminas opens new warehouse in southern Brazil
Middle East & Africa
Saudi Arabian demand for strip keeps high, prices may rise
Iran eyes up to 10m t/y of new capacity in Persian Gulf Zone
Iran raises production and exports
Scrap & Raw Materials
Chilean iron ore exports see signs of recovery
Russia’s Mechel increases mining division output
Brazil's Viena increases pig iron production by 12%
ThyssenKrupp gets iron ore prices in line with benchmark
Miner delays output increase, expects license in a month
Power cuts, tight credit subdue Indian scrap market
Wugang closes deal with Canadian iron ore miner
Pig iron output down 15% so far this year
China's Xiyang plans 2010 for Russian iron ore project
Wuhan, Centrex agree terms for iron ore venture
S.J. Metals launches scrap operation in Bahrain
Stainless steel & Ferro-alloys
Spain's Acerinox sets second longs price increase
Ferro-chrome price to rise on stainless steel recovery
Taiyuan raises stainless 304, 430 prices by RMB200-300/t
Stainless surcharges rising in North American market
Tubes & Pipes
CNOOC Kingland expanding pipe processing capacity
Chinese specialty pipe maker starts seamless mill