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Steel Sector Boost in China Due to Go...

by wireworld on 06/12/2012 - 04:41 pm
Tags: Market Stats, Press Releases

The main thrust of the recently announced stimulus package includes several items which will favour the steel industry. There are plans to increase investment in infrastructure projects. Subsidies will be given to the home appliance sector to produce energy efficient products. Moreover, funds are being released to build two new major steel plants in the south of the country.

 



The concept appears to be to undertake projects which will not create the significant inflationary pressures which occurred in the previous package. Loosening bank lending is not part of this latest plan.

 



The main plank of the package, to expand investment in infrastructure, will provide a boost ...

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Libya's Lisco Resumes Steel Melting a...

by wireworld on 06/11/2012 - 05:50 pm
Tag: Press Releases

Libyan steelmaker Lisco has resumed most steel production processes including melting operations, after more than a year of suspension due to conflict that saw the north Africa nation's former dictator, Muammar Gaddafi, overthrown and killed.

 



The state-owned steelmaker resumed steel melting last month and was slowly ramping up steel production volumes, chairman Mohamed Elfighi reported.  It hopes it will be able to reach its full capacity of about 1.7 million-1.8 million tonnes by the end of the year.

 

 

"All Lisco plants are now back to work except the hot strip mill plant," Elfighi said in an emailed statement.  "The direct reduction plant is working, t ...

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Steel Plants Sruggle Amid Stagnant Ma...

by wireworld on 06/08/2012 - 03:30 pm
Tag: Press Releases

Standing in the shop full of local and imported steel products on De La Thanh Street, saleswoman Nguyen Thi Thuy said she had not received any customers all day.  “We have never seen sales as slow as they are now. Our sales are down 30 percent over the same period last year. Last year, we suffered a big loss. However, I think that this year’s loss will be even bigger.”

 

 

Thuy said her shop used to purchase hundreds of tons of steel from local producers and importers, but the steel volume sometimes was not enough to meet customers’ demand. However, in recent months her shop has only bought less than a hundred tons due to lowered demand.  With f ...

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Optical Cable Jumps on Fiscal 2Q Report

by wireworld on 06/08/2012 - 04:24 pm
Tag: Press Releases

Optical Cable Corp. shares surged after the fiber optic cable maker reported its fiscal second-quarter results.

 



The Roanoke, Va., company said it earned $949,000, or 15 cents per share, in the three months ended April 30. In the year-ago quarter Optical Cable took a loss of $90,000, or 2 cents per share. Its revenue grew 28 percent, to $22.1 million from $17.2 million.

 



The company said sales reached a record high during the quarter. Its net sales to customers grew 20.5 percent and sales to non-U.S. customers grew 56 percent. It said it expects fiber optic cable demand to remain strong for the rest of its fiscal year.