Steel Output Mounting The Steel industry, which consists of companies engaged in the extraction of iron ore and coke coal for the processing of iron and steel, has the major chunk of sales concentrated with a few producers. The industry includes metal ore exploration and mining services, iron and steel foundries for smelting, rolling, forging, spinning, recycling, stamping, polishing and plating of iron and steel products such as pipes, tubes, wire, spring, rolls and bars. The largest drivers of steel consumption have historically been the automotive and construction markets, which make up more than 50% of total steel consumption. Other steel consuming industries include appliances, converters, containers, tin, energy, electrical equipment, agricultural, domestic and commercial equipment and industrial machinery. Large automakers such as General Motors, Ford Motor Company ([url=http://www.zacks.com/stock/quote/f]F[/url]), Toyota Motor Corporation ([url=http://www.zacks.com/stock/quote/tm]TM[/url]) and Honda Motor Company ([url=http://www.zacks.com/stock/quote/hmc]HMC[/url]) depend upon the steel industry. ArcelorMittal ([url=http://www.zacks.com/stock/quote/mt]MT[/url]) is ...

For Immediate Release

Chicago, IL – October 28, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: BP plc (BP), ExxonMobil (XOM), Chevron (CVX), U.S. Steel Corp. (X) and POSCO (PKX).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Tuesday’s AnalystBlog:

BP Tops on Better Cost Control

BP plc (BP) reported its third quarter 2009 results of $1.71 per ADS (American Depositary Share), beating the Zacks Consensus Estimate of $1.14 on the back of stronger cost controls and increased upstream volumes. However, in comparison with the year-earlier results, earnings fell approximately

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According to the data released by the World Steel Association (WSA), global steel output increased to 107 million tons in the month of Sep 2009, down marginally (0.6%) from the same month of the previous year. Month-on-month, steel output improved slightly from 106.5 million tons. World crude steel production has continued to show a steady increase since Apr 2009.  Steel production had reached its highest level in July this year on the back of a moderate rise in demand and the resumption of idled facilities by producers. Total output of 103.9 million tons was an improvement of 4% from 99.8 million tons produced in the last month, but down 11.1% year over year.  All major steel producing countries such as China, Japan, Germany, the U.S., Brazil, Turkey, Russia and Ukraine showed peak monthly figures so far this year. Production in the Middle East, where demand was buoyant ...

POSCO (PKX) saw a 22.3% decline in third-quarter revenues to KRW6,851 billion from KRW8,813 billion in the corresponding quarter last year. Operating income declined 48.7% year over year, while net profit was down 6.3%.   The decline in the company’s profit was primarily driven by lower production and a drop in selling prices. The company’s global crude steel production for the quarter was down 8.5%, compared to the year-ago quarter.   Starting from the second half of 2008, global economies have been experiencing a significant slowdown and steel prices have dropped sharply. All the major mills are cutting production in an effort to stabilize prices and market.   The business environment has deteriorated so sharply that POSCO was forced to cut production in December 2008, for the first time in its history. The company is expected to cut production by approximately 2 million tons in 2009.   Back ...

According to data released by the World Steel Association, global steel output reached its highest level in July on the back of moderate rise in demand and resumption of idled facilities by producers. Total output of 103.9 million tons was an improvement of 4% from 99.8 million tons produced in the last month, but down 11.1% year over year.

All major steel producing countries like China, Japan, Germany, the U.S., Brazil, Turkey, Russia and Ukraine showed peak monthly figures so far this year. Production in the Middle East, where demand was buoyant last year due to booming infrastructure spending, edged up by 2.5% in July. Monthly steel output in China, the world’s biggest producer and consumer of steel, climbed 12.6% to 50.7 million tons. Steel production in India also increased, but only by a modest 4.3% to 4.7 million tons during the month.

However, global steel production was down

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Chinese Metals Boosted by Stimulus

Tony Daltorio, The Investment U Research Team

At least one government stimulus package seems to be working right now. But, it’s not the United States. If only our stimulus program was as successful as the “cash for clunkers.” Unfortunately, we’re closer to clunker with the rest of economic stimulus.

The stimulus package we’re talking about is in the country that many pundits love to hate – China. So far this year, China’s economy has accounted for virtually all of the world’s economic growth. Including China, global growth is 1.6 percent. Without it, growth was flat to slightly down.

Here are just a couple examples of China’s successful stimulus:

China’s auto market is now growing at 50% per year and has surpassed the United States as the world’s ...

POSCO (PKX) recently announced that its Mexico CGL (Continuous Galvanizing Line) has started shipping its first products on June 25. The Mexico CGL, which will annually produce 400 thousand tons of high-end zinc-plated steel alloy plates and zinc-plated steel plates for automobiles, began its commercial operation on June 4. The company is focusing on rapidly increasing the proportion of value-added products, such as cold-rolled steel, automotive steel plates and electric steel sheets, in its product mix. POSCO expects demand for steel plates in South Korea to rise to 16 million tons by 2011 from 10.7 million tons in 2007. In July 2008, POSCO started the construction of a 2 million ton capacity steel plate plant at Gwangyang Steelworks in Korea. The company targets to complete the construction of this plant by October 2010. Upon completion of the plant, POSCO’s steel plate production will reach 7.25 million ...

This blog post is published by Seeking Alpha on 6/5/09:Author: Dian L. Chu, 06/01/09Rio Tinto became the first of the three big iron ore suppliers to agree to a 33% cut of the benchmark iron ore price starting April 2009 with Japanese mills including Nippon Steel as well as South Korea's POSCO. However, China bucked protocol and rejected the agreement. CISA (China Iron Steel Association) is

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

The AES Corp (AES) Michael Baker Corp (BKR) Ctrip.com International Ltd (CTRP) Huaneng Power International Inc (HNP) POSCO (PKX) Sanofi-Aventis SA (SNY) Telefonica SA (TEF) UGI Corp (UGI) Westpac Banking Corp (WBK) WMS Industries Inc (WMS) View the entire Zacks #1 Rank List.

"AES" Free Stock Analysis: Buy? Sell? Hold?"BKR" Free Stock Analysis: Buy? Sell? Hold?"CTRP" Free Stock Analysis: Buy? Sell? Hold?"HNP" Free Stock Analysis: Buy? Sell? Hold?"PKX" Free Stock Analysis: Buy? Sell? Hold?"SNY" Free Stock Analysis: Buy? Sell? Hold?"TEF" Free Stock Analysis: Buy? Sell? Hold?"UGI" Free Stock Analysis: Buy? Sell? Hold?"WBK" Free Stock Analysis: Buy? Sell? Hold?"WMS" Free Stock Analysis: Buy? ...

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

Achillion Pharmaceuticals Inc (ACHN) Advance Auto Parts Inc (AAP) Advantest Corp (ATE) Agree Realty Corp (ADC) Aluminum Corp of China Ltd (ACH) Amkor Technology Inc (AMKR) ARYx Therapeutics Inc (ARYX) Barloworld Ltd (BRRAY) Bio-Reference Laboratories Inc (BRLI) The Buckle Inc (BKE) California Pizza Kitchen Inc (CPKI) Cerus Corp (CERS) Chipotle Mexican Grill Inc (CMG.B) Coca-Cola Enterprises Inc (CCE) Crucell NV (CRXL) D R Horton Inc (DHI) Dana Holding Corp (DAN) Delhaize Group (DEG) Diageo Plc (DEO) Distribucion Y SVC (DYSVY) Emergency Medical Services Corp (EMS) Gen-Probe Inc (GPRO) Healthcare Services Group Inc (HCSG) HLS Systems International Ltd (HOLI) ICU Medical Inc (ICUI) Keppel Corporation Ltd (KPELY) L'Oreal SA (...