STEEL INDUSTRY AND TRADE – AUSTRALIA

US expansion and local relief for BlueScope

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Original article by Tim Binsted
The Australian Financial Review – Page: 13 & 18 : 27-Oct-15

Shares in BlueScope Steel closed 10.6 per cent higher at $A4.50 on 26 October 2015, after the group revealed that its Port Kembla steelworks will stay open. BlueScope had previously warned that it would have to close the last blast furnace unless costs were reduced. BlueScope has negotiated a deal with Port Kembla workers which includes a wage freeze and job cuts, while the New South Wales Government will defer payroll taxes for three years. BlueScope will also buy out Cargill’s 50 per cent stake in the North Star mill in the US.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, CARGILL INCORPORATED, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Arrium chief slams inaction on dumping

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Original article by Tim Binsted
The Australian Financial Review – Page: 26 : 19-Feb-15

Australian-listed steelmaker and iron ore miner Arrium has posted a 2014-15 interim loss of $A1.5bn. The result was marred by $A1.3bn worth of impairment charges associated with its iron ore assets. The group’s mining division posted operating earnings of $A77m, compared with $A423m previously. CEO Andrew Roberts has urged the Anti-Dumping Authority to act more quickly to curb the importation of low-cost steel

CORPORATES
ARRIUM LIMITED – ASX ARI, AUSTRALIA. ANTI-DUMPING AUTHORITY, ALLAN GRAY AUSTRALIA PTY LTD, SOUTHERN IRON PTY LTD

Arrium plunge in wake of raising

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Original article by Matt Chambers, Barry FitzGerald
The Australian – Page: 19 : 19-Sep-14

The share price of steel and iron ore miner Arrium fell on 18 September 2014 after its capital raising. The company wanted to raise $A754 million. However, only 79 per cent of institutional shareholders participated, raising $A465 million. Arrium’s stock dropped by $A0.0165 to a record low of $A0.40

CORPORATES
ARRIUM LIMITED – ASX ARI, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD