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GVteD 24 december 2013 14:55
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Van deze kant iedereen een Fijne Kerst en een Gezond en Voorspoedig 2014
GVteD 24 december 2013 21:19
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AK Steel Holding Corporation (AKS) Ups Stainless Steel Prices

by Zacks Investment Research on December 24, 2013





Just over a month after hiking price of specialty stainless steel products, AK Steel Holding Corporation (NYSE:AKS) has recently announced a price increase on the rest of its stainless steel products, effective with shipments from Jan 1, 2014.

A discount of 2 percentage points for these stainless steel products will aid in the price increase. For all products including automotive exhaust products priced using net prices, the increase will be achieved by adding $0.02 per pound to the existing prices. Surcharges will be applicable on all stainless steel products.

AK Steel Holding Corporation (NYSE:AKS)

Earlier on Nov 22, AK Steel Holding Corporation (NYSE:AKS) had hiked the base prices for all martensitic products, precipitation hardening (PH) products, tensile rolled products, duplex products, bright annealed products and custom melt products or grades that are specific to the company. The price hike of these specialty stainless steel products will be effective with shipments from Jan 1, 2014.

From the steel industry’s perspective, steel prices are generally volatile owing to the highly-cyclical nature of the global steel industry. Rising raw material prices have a direct impact on steel prices as higher raw material prices induce a corresponding increase in steel prices.

However, in the wake of lower demand, it becomes increasingly challenging to pass on raw material price increases to consumers. Furthermore, overcapacity, glut in cheaper Chinese steel imports, economic conditions and shifts towards other substitutes significantly impact steel prices.

AK Steel Holding Corporation (NYSE:AKS) posted a net loss of $31.7 million or 23 cents a share in third-quarter 2013, roughly 48% narrower than a loss of $60.9 million or 55 cents a share a year ago. Excluding one-time items (tax charges related to a valuation allowance for deferred tax assets), AK Steel’s loss for the quarter was 12 cents per share.

Revenues fell 9% year over year to $1,331.3 million in the reported quarter due to lower shipments. AK Steel Holding Corporation (NYSE:AKS) expects results to improve sequentially in the fourth quarter. The company should benefit from the strength in the automotive market and higher shipment of carbon steel products to automakers.

The company is also investing to internally procure about half of its iron ore and coal requirements. However, concern remains about the soft construction market and the weak steel pricing environment.

AK Steel Holding Corporation (NYSE:AKS), a prominent player in the steel industry along with ArcelorMittal (ADR) (NYSE:MT), currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the steel and related industries include Companhia Siderurgica Nacional (ADR) (NYSE:SID) and United States Steel Corporation (NYSE:X). While Companhia Siderurgica holds a Zacks Rank #1 (Strong Buy), United States Steel retains a Zacks Rank #2 (Buy).
Candelll 25 december 2013 14:14
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Analyst Outlook

Currently, many analysts have a good outlook for ArcelorMittal. Over the next few years analysts at MSN money are predicting ArcelorMittal to have an EPS of $-0.08 for FY 2013 and an EPS of $1.02 for FY 2014. Analysts at Bloomberg are estimating ArcelorMittal's revenue to be at $80.68B million for FY 2013 and $86.15B million for FY 2014.

seekingalpha.com/article/1915961-arce...
Candelll 25 december 2013 15:14
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enkele cijfers naar de toekomst die ik heb onvangen
$/t
hrc carbon steel
2013=>629
2014=>619
2015=>594
2016=>559
€/t
stanless steel
2013=>2359
2014=>2337
2015=>2407
2016=>2529

$/t
Mettallurgical coal
2013=>159
2014=>165
2015=>165

s/t
2013=>117
2014=>110
2015=>95
2016=>70

2018=>559
voda 25 december 2013 15:41
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Weer een analist die positief over Arcelor is!

De Fed start in januari met het afbouwen van het monetaire verruimingsbeleid. Wat betekent dit voor dividendaandelen in 2014? En welke aandelen kunnen het in 2014 goed gaan doen?


Peter Berger van Beursplein6.nl had er een interview over met Belegger.nl.

Hoewel dividendaandelen altijd interessant zijn volgens Berger, is de beslissing van de Fed om van start te gaan met de tapering volgens hem wel degelijk van invloed. ‘In 2013 hebben we kunnen zien dat bedrijven door de historisch lage rente veel eigen aandelen hebben kunnen inkopen. Ook de dividenduitkeringen waren hierdoor heel mooi.’

2014 zal er volgens Berger wellicht wat dat betreft wat anders uitzien. ‘Als de afbouw van het monetaire beleid ietsje harder gaat en de rente hoger wordt, zal er gewoon minder ruimte zijn voor die bedrijven om eigen aandelen in te kopen. Lenen wordt dan simpelweg duurder.’

Volgens de analist kan dit betekenen dat dividenduitkeringen wat afnemen of zullen worden stopgezet. ‘Wij maken ons daar niet zo veel zorgen over. Het is uiteindelijk zaak dat je bedrijven kiest die ook zonder het gratis geld van de Fed goed zullen presteren.’

Dividend Aristocrats Index

Naar welke aandelen moeten beleggers dan kijken voor 2014? Het is volgens Berger goed om te kijken naar bedrijven die al jarenlang hun dividend verhogen en een lage pay out-ratio hebben. Een lage pay out-ratio zorgt ervoor dat er ruimte blijft om het dividend te blijven verhogen.

‘Daarnaast kun je kijken naar de Aristocrat-index. Bedrijven in deze index hebben al minstens 25 jaar achtereen hun dividend verhoogd. Je kunt daarbij denken aan bedrijven als Chevron, Exxon, Coca-Cola en Johnson & Johnson. Dit zijn stuk voor stuk mooie dividendaandelen die wij in 2014 graag kopen, zij het tegen een lagere koers.’

Aandelen voor 2014

‘Aandelen die het volgens ons goed kunnen gaan doen in 2014 zijn logisch gezien de aandelen uit de wat meer cyclische sector. Dit komt door een herstel van de wereldeconomie. Denk daarbij aan aandelen zoals ArcelorMittal.

Daarnaast is er ook nog een aantal aandelen van de Nederlands-Belgische markt die het goed kunnen gaan doen. Denk bijvoorbeeld aan Galapagos en Arseus.’

www.beursplein6.nl/research/dividenda...
GVteD 25 december 2013 22:18
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www.beursduivel.be/column/2644269/inz...

En nog eentje voda

Op de Nederlandse Beurs valt vooral ArcelorMittal op, dat best aardig staat gewaardeerd op dit moment en komend jaar kan profiteren
[verwijderd] 25 december 2013 22:23
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Gewoon komend half jaar naar de €20 knallen!
GVteD 25 december 2013 22:25
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ArcelorMittal Debt And Capital Analysis
Dec. 25, 2013 7:37 AM ET | About: MT


Over the past few weeks I have been watching the recent developments of the Steel & Iron industry. This has provided an excellent opportunity to search for stocks in this sector for investment purposes. One company I think is very interesting to analyze is ArcelorMittal (MT). While there are many different factors to look at and consider when investing, in the article below I will look at the debt side of the company. I will analyze ArcelorMittal's total debt, total liabilities, debt ratios and what analyst and other top investors believe about this company. From this analysis we should get an idea if the company is highly leveraged and how much to expect in return for investing in this company over the long term.

As the number is currently well below 1, this indicates that ArcelorMittal has more assets than total debt. Because this number is extremely low (0.22), this metric indicates very low financial risk to the company.

Analyst Outlook

Currently, many analysts have a good outlook for ArcelorMittal. Over the next few years analysts at MSN money are predicting ArcelorMittal to have an EPS of $-0.08 for FY 2013 and an EPS of $1.02 for FY 2014. Analysts at Bloomberg are estimating ArcelorMittal's revenue to be at $80.68B million for FY 2013 and $86.15B million for FY 2014.

Het hele raport is te vinden op
seekingalpha.com/article/1915961-arce...
buffalo1 26 december 2013 09:00
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Kooplijst 2014: Jos Versteeg

DONDERDAG 26 DECEMBER 2013, 08:13 uur | 297 keer gelezen

De laatste weken van 2013 zijn ingegaan en dus gaat de redactie van Belegger.nl op zoek naar de kooplijstjes voor 2014. Voor welke aandelen verwachten experts dat 2014 een topjaar wordt? Vandaag de favoriete aandelen van Jos Versteeg van Theodoor Gilissen.

Versteeg gaat voor SBM Offshore, Randstad en ArcelorMittal.

SBM Offshore

‘De eerste is voor mij de meest duidelijke: SBM offshore. De komende jaren worden zo’n 50 projecten verwacht. Aan het begin van het jaar is er in Afrika, om precies te zijn in Angola, een kans op een flinke order. Ze hebben een orderportefeuille van vijf keer de omzet, inclusief de lange termijn orders. Het aandeel heeft een groot koerspotentieel. Mijn koersdoel is 20 euro.’

Randstad

‘Randstad is dit jaar al behoorlijk wat uitgelopen op het herstel in Europa. Het aandeel is al 60 procent gestegen dit jaar, maar ik verwacht een verdere stijging. Dankzij verbeteringen in Europa en dan vooral in Frankrijk. Daar is het slecht gegaan, maar Randstad heeft daar flink wat reorganisatie gedaan. Dit is gedaan en als het straks beter gaat in Frankrijk, Duitsland en Nederland, kan Randstad hiervan profiteren. De marges zijn vanaf september een stuk beter geworden. En je zal zien dat als de marges weer goed zijn, er meer aandacht kan zijn voor groei. Dit soort vroeg cyclische sectoren kan dan goed herstellen.

Wanneer het herstel er eenmaal is, kan het heel hard gaan met bedrijven als Randstad. Je ziet dat analisten hun taxatie ook flink verhogen. Ons koersdoel is 52,50 euro. Er zit dan ook een flink koerspotentieel in.’

ArcelorMittal

‘Arcelor is natuurlijk wereldwijd nummer 1 in de staalsector met een relatief grote positie in Europa. De bezetting in Europa is slecht tot matig, de helft van de fabrieken is dicht. Dit betekent dus eigenlijk dat als de Europese economie wat verbetert, dat allicht de vraag naar staal ook verbetert en dat dan de positie van Arcelor ook verbetert.

We gaan er eigenlijk vanuit dat in de loop van dit jaar de Europese situatie verbetert, door bijvoorbeeld Europese maatregelen die de Europese import moeten beschermen. Daarbij heeft Arcelor ook herstructureringsmaatregelen doorgevoerd (ontslagen) waardoor de kosten omlaag gaan. Kortom, een betere bezetting en lagere kosten zorgen ervoor dat je een verbeterende nettowinst krijgt.’
Candelll 26 december 2013 10:21
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ArcelorMittal to restart Spanish galvanizing line: reports Steel Business Briefing 02:04
mvliex 1 26 december 2013 11:10
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quote:

GVteD schreef op 25 december 2013 22:25:

ArcelorMittal Debt And Capital Analysis
Dec. 25, 2013 7:37 AM ET | About: MT

Over the past few weeks I have been watching the recent developments of the Steel & Iron industry. This has provided an excellent opportunity to search for stocks in this sector for investment purposes. One company I think is very interesting to analyze is ArcelorMittal (MT). While there are many different factors to look at and consider when investing, in the article below I will look at the debt side of the company. I will analyze ArcelorMittal's total debt, total liabilities, debt ratios and what analyst and other top investors believe about this company. From this analysis we should get an idea if the company is highly leveraged and how much to expect in return for investing in this company over the long term.

As the number is currently well below 1, this indicates that ArcelorMittal has more assets than total debt. Because this number is extremely low (0.22), this metric indicates very low financial risk to the company.

Analyst Outlook

Currently, many analysts have a good outlook for ArcelorMittal. Over the next few years analysts at MSN money are predicting ArcelorMittal to have an EPS of $-0.08 for FY 2013 and an EPS of $1.02 for FY 2014. Analysts at Bloomberg are estimating ArcelorMittal's revenue to be at $80.68B million for FY 2013 and $86.15B million for FY 2014.

Het hele raport is te vinden op
seekingalpha.com/article/1915961-arce...

Ben blij dat de meeste negatieve trollen weg zijn en dat hier weer meer inhoudelijke berichten worden geplaatst maar bovenstaande geeft natuurlijk ook een heel verkeerd beeld van het artikel door het enkele positieve feit te vermelden en alle negatieve niet. Eigenlijk is het artikel meer negatief dan positief. Dus dit hoort er dan ook bij.


ArcelorMittal's total debt to total assets ratio has increased over the past three years from 0.19 to 0.22. As the total debt to total assets ratio has increased, this indicates that since 2010, ArcelorMittal has added more total debt value than total asset.
+
In looking at ArcelorMittal's total liabilities to total assets ratio over the past three years, we can see that this ratio has also increased from 0.52 to 0.54. I do not like the fact that ArcelorMittal increased the debt side of its balance sheet.
+
Compared with 2010, ArcelorMittal's debt-to-equity ratio has increased. The ratio has increased from 1.09 in 2010 to 1.21 in 2012. I prefer companies that have a very low or minimal debt-to-equity ratio. It is basically a signal of a conservative balance sheet.

As the ratio is currently well above 1, this indicates that shareholders have invested more than suppliers, lenders, creditors and obligators. 1.21 indicates a high amount of risk for the company. As the ratio is above 1 and considered high, so is the risk for the company.
+
Over the past three years, ArcelorMittal's capitalization ratio has increased from 0.23 in 2010 to 0.29 in 2012. This implies that the company has less equity compared with its long-term debt.
+
Over the past three years, the cash flow to total debt ratio has increased. The ratio has increased from 0.23 in 2010 to 0.20 in 2012 TTM. This is a good signal. It means that ArcelorMittal improved its cash flow metrics in the past 3 years.

As the ratio is below 1, this implies that the company does not has the ability to cover its total debt with its yearly cash flow from operations. The ideal is finding stocks that have ratios well above 1.


En ja, heb call-opties MT dus ben gebaat bij een stijgende koers!
voda 26 december 2013 15:51
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Flat steel to vibrate in China amid weak performance later this year

Last week, domestic steel market edged down slightly as a whole with few market transactions. Social inventory began to increase, weakening the market confidence. Among them, flats price is relatively stronger than that of construction steel. Price of HRC and medium plate in key cities endured ups and downs while HRC in most areas remained stable.

Mr Wang Jinsheng vice chairman of Tianjin Association of Metal Material Trade, pointed out that the price of medium plate began to slump after recent increase. Medium plate price of key steelmakers in Handan and WuAn stopped increasing and dropped slightly last Friday. AOG of common plate in North China increased slightly which eased the resources shortage to some extent. It is predicated that flats will vibrate amid weak performance at the end of this year. Also, we shall not omit its possibility of declining.

Mr. Wang pointed out that the aforementioned situation is mainly caused by the following factors:

i) Weekly inventory of HRC began to increase. According to market surveillance, on December 20, inventory of HRC in 29 key cities totaled 3.6024 million tonnes; that in Shanghai was 0.923 million tonnes, Guangzhou was 0.775 tonnes, Tianjin was 0.227 million tonnes, Handan was 0.132 tonnes; CRC inventory reached 1.5314 million tonnes; medium plate inventory amounted to 1.316 million tonnes.

ii) Short of capital at the end of this year also imposed some pressure to the market. Domestic stock and futures market performed weak under the pressure of money shortage, which as a result affect the spot market.

iii) PMI of HSBC manufacturing in December eased back slightly which will impact the market to some extent.

iv) Market transaction is not satisfied after key steelmakers hiking the prices. Angang hiked HRC price for January, 2014 by 50 yuan per tonne following Baosteel and WISCO. Hebei Steel gave no subsidy for HRC in December, which made traders hike the market price, resulting in unsatisfied market transactions.

Source - www.steelhome.cn/en
China steel information centre and industry database
voda 26 december 2013 15:52
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Tough times ahead for Chinese steel companies

Chinese steel companies are now in a state of "lofty production, high costs, low prices and poor profitability", National Business Daily reported, citing Zhang Changfu, deputy chairman of the China Iron and Steel Association (CISA) at a conference.

Losses of Chinese steel companies have reached an "unbearable" level, Mr. Zhang pointed out, citing that Chinese domestic steel settlement price averaged 3,462 yuan per tonne in the first ten months of this year, down 8.9% from the corresponding period of 2012.

The price falls greatly eroded profit margins in Chinese steel industry, he added.
According to data from the CISA, Chinese steel industry posted a profit of 11.68 billion yuan in the first eleven months of the current year and the profit margin was only 0.48%, indicating a profit of 28 yuan per tonne steel on average. The main business profit of steel companies hit merely 5.8 billion yuan, indicating a profit of only 4.2 yuan per tonne for one tonne of steel produced.

Large and medium-sized steel companies witnessed an improvement in their profit in the third quarter, but on the whole domestic steel prices remained in recession and the situation can hardly change in the short term. Moreover, Chinese steel industry, plagued by financial strain, is still in a midst of resolving overcapacity and the situation of excess capacity is expected to continue into next year.

Meanwhile, Mr. Zhang gave a forecast of 782 million tonnes of crude steel output for the whole of 2013 and said it may grow at a rate of 2-3% to reach 800 million tonnes next year.

He also warned that steel companies and steel traders shall be well prepared for a continuing tough time in the future.

Miao Changxing, deputy director of industrial policy department of the Ministry of Industry and Information Technology also pointed out that overcapacity remains as a big threat for Chinese steel industry and main tasks for the industrial transformation and upgrading include giving support to technical innovation of enterprises, promoting green and low-carbon development, resolving severe overcapacity, accelerating elimination of backward capacity, stimulating merging & acquisitions, speeding up transformation and upgrading of enterprises and optimizing industrial layout, etc.

He also disclosed that the MIIT is working to draw up a document for improving industrial policies aimed to promote transformation and upgrading in steel industry and the government is stepping up efforts to formulate stricter standards for environmental protection.

Source - www.steelhome.cn/en
China steel information centre and industry database
voda 26 december 2013 15:53
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Imported iron ore stockpiles up in China

Stockpiles of iron ore at 25 major Chinese ports increased last week, according to Tuesday's Xinhua-China iron ore index report.

At the end of the December. 17 to December 23 period, inventories of imported iron ore in ports stood at 85.40 million tonnes, up 1.56 million tonnes or 1.86% over the previous period.

The index, compiled through research and analysis of 25 major sea ports, showed that the price index for iron ore imports with a 62% purity grade decreased two points from the previous week to 133, and the index for iron ore imports of 58% purity grade fell two points to 120.

The report said that steelmakers showed little desire to buy iron ore as the downstream market has not rebounded and most traders were maintaining a wait-and-see attitude.

The report predicted that the drop in steel demand will have a negative impact on iron ore trading and it is unlikely that there will be large-scale purchase orders of iron ore next week.

Source – Xinhua
voda 26 december 2013 15:54
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New walkout planned by TATA Steel contractors in Scunthorpe

Scunthorpe Telegraph reported that contractors on the TATA Steel works in Scunthorpe will stage a second walk-out on Saturday (December 28) in pursuit of a pay rise.

The 50 strikers are refractory builders employed by Tubecityims and members of the construction industry UCATT.

They staged their first 16-hour walk-out on Tuesday at 6 AM and manned picket lines outside the A18 entrance of the TATA Steel works for more than two hours. Their employers have so far declined to make a comment.

UCATT regional organiser Mr John McIntyre said last year his members had received a 4% rise following a two-year pay freeze.

But the company had made no offer for 2013 since last December.

Mr McIntyre said that "We would consider any offer, but anything below one per cent would be deemed derisory. The company has failed to enter into sensible negotiations and as a result members overwhelmingly felt they had no option but to take industrial action."

A TATA Steel spokesman said that "A number of employees from Tubecityims, a contractor working on the Scunthorpe site, have voted to take strike action on December 17 and December 28. This dispute is solely between Tubecityims and some of its employees and not TATA Steel. TATA Steel has taken steps to ensure there is no disruption to production."

Source - www.scunthorpetelegraph.co.uk
voda 26 december 2013 15:54
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New model to tackle excessive steel capacity in China

Tangshan Iron and Steel Group Co Ltd is leading the effort to go abroad as the country's steel and iron industry struggles with overcapacity, reports Du Juan from Tangshan, Hebei province.

Against the background of the overcapacity problem in China's steel industry, Deutsche Bank AG said that it has, together with Duferco SA, an international steel dealer, arranged an USD 800 million structured prepayment term loan facility for Tangsteel in Tangshan, an industrial city in northeastern Hebei province.

It is the largest structured commodity trade financing facility ever completed for a Chinese company.

Mr Frank Wu regional head of structured commodity trade finance Asia Pacific, for global transaction banking at Deutsche Bank said that "Like Tangsteel, there are many strong and active players in the steel industry in China that continue to contribute to its economic growth. This round of financing is meant to support Tangsteel's export of high-end cold rolled steel products.”

He said increasing exports of steel products from such Chinese companies can help utilize the capacity in the domestic market.

Behind this comprehensive and supportive cooperation among the international bank, steel trader and the Chinese steelmaker is a "smart model" for making full use of the advantages of each party to survive the market, said Zhang Tieshan, a senior analyst from steel information provider Mysteel.com.

He said that "There are various ways for Chinese steel companies to go abroad in addition to just selling products.”

Source - www.chinadaily.com
Candelll 27 december 2013 10:58
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We believe the ArcelorMittal/Nippon Steel & Sumitomo Metal Corporation consortium’s interest in buying our facility is confirming its future value to the NAFTA steel industry and securing our 1,600-plus local jobs and continued economic impact in Alabama for generations to come,” Posey said.

Because operations at the mill will continue, state and local officials say the millions of dollars in subsidies provided to the company to attract the plant to the region remain a good investment.

“We fully expect development around the mill to continue. In fact, we think there has been some hesitancy by companies because they didn’t know who the new owners would be and now I think we will see even more projects related to the steel mill,” said Troy Wayman, vice president of economic development for the Mobile Area Chamber of Commerce
www.tuscaloosanews.com/article/201312...
voda 27 december 2013 12:23
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Chinese steel price dips pulled by falling long steel price

Steel market in China has cooled off during winter with plummeting construction activity. Nearly 2% dip in long steel price had cascading impact of 1% dip in steel price index.

Long steel price levels take flack during winter in Northern China owing to freezing winter affecting the construction activity.

However flat market exhibited resilience remaining unchanged for the second week on the trot with demand from white good sector and auto sector remained steady.

Source – Strategic Research Institute
voda 27 december 2013 12:24
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Japan 2013 crude steel output at 6 year high

Japan’s crude steel output is expected to surge to a six year high in the fiscal year to March 2014, driven by strong demand for infrastructure works amid higher government spending and a rush to build houses ahead of a sales tax hike next year.

Japan's ministry of economy, trade and industry said that Japan’s crude steel output for the period is projected to rise 4.3% from a year ago to 111.88 million tonnes. That would be highest since Japan’s output hit a record of 121.51 million tonnes in fiscal year 2007.

Mr Ryuichi Yamashita director of iron and steel division at the ministry, told a news conference, referring to Prime Minister Shinzo Abe’s push to revitalise Japan’s economy said that “The biggest contributor for a high steel output this year is a rise in construction and infrastructure works on the back of Abenomics.”

Infrastructure spending tops Abe’s agenda alongside nudging the central bank to take aggressive steps to end deflation.

Steel products used for infrastructure works got a lift from his stimulus programme, which included additional spending of JPY 5 trillion (USD 47.95 billion) on public works. However, steel exports for fiscal 2013 are expected to drop from a year ago despite a weaker yen.

Source - Reuters
voda 27 december 2013 12:27
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China steel industry posts CNY 157 billion profit in 11 months - NDRC

The profit of China steel industry in the first ten months of 2013 is reported to be 157 billion yuan, increasing by 39.9% year on year. And that for ferrous metals mining and dressing industry increased 0.5% to CNY 76.4 billion while that in steel smelting and processing industry hit CNY 68.2 billion up 1.3% from the prior year.

Steel and Raw Material Output in Jan to Nov 2013

Product Output Changes (YoY)
Crude steel 71286 7.80%
Steel products 79878 11.50%
Coke 43595 8.10%
Ferroalloy 3259 12.40%

Unit: 10000 tonnes

In the first eleven months of 2013, China exported 56.97 million tonnes of steel products and 3.92 million tonnes of coke, up 12% year on year and surging 310% year on year respectively. Meanwhile, China imported 510,000 tonnes of semis, 12.87 million tonnes of steel products and 746.1 million tonnes of iron ore sand, increasing 56.2%, up 2% and gaining 10.9% year on year.

In November, China exported 5,000,000 tonnes of steel products and 680,000 tonnes of coke, down 70,000 tonnes and up 160,000 tonnes compared to the prior month respectively. Meanwhile, China imported 1,250,000 tonnes of steel products, increasing by 110,000 tonnes from last month.

Source - www.steelhome.cn/en
China steel information centre and industry database
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