|last edit 830||days ago|
ArcelorMittal, the world's largest producer of steel, warned on Friday of lower profits this year but surprised the market by managing to cut its debt to the lowest level since the company was created in 2006.
The company, which produces about 6 percent of the world's steel, said it expected core profits to drop to between $6.5 and $7 billion in 2015, from... read more
Well - here is a shocking news report.
It would seem that Al-Tuwairqi of Saudi Arabia and POSCO of South Korea, who together invested in the TSML DRI plant in Pakistan, have been unable to secure the low-cost natural gas needed to operate the new DRI facility. Requests to the government of Pakistan to consider TSML?s position have seemingly been ignored; with... read more
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Andrzej M Kotas
Metals Consulting International Limited