Nucor Corporation (NUE) has agreed to buy an independent producer of hollow structural section steel tubing, Southland Tube, for $130 million.
Earlier this year, crude oil prices plunged to a low of $26 per barrel and natural gas prices faced significant pressure. While the price per barrel has recently climbed to about $50, many exploration and production companies failed, or were on the brink of failure, over the past year as borrowing rates surged and the ability to service debt was in peril.
Gold Prices May Bounce in Pre-Positioning for FOMC Meeting
Shares in Alacer Gold have slipped after the Turkey-focused gold miner cut its output guidance for the year, citing production delays. Alacer said it has faced delays in accessing higher grade ore at the Marble Pit site, which had led to production delays in the third quarter. Alacer now expects to produce between 115,000 to 125,000 ounces of gold in 2016, down from its previous estimate of 150,000 to 170,000 ounces.
Stocks of interest on the Australian share market AQG - ALACER GOLD - down 7 cents, or 2.8 per cent, at $2.44 Turkey-focused miner Alacer Gold has cut its output guidance and raised cost guidance for 2016, ...
Shares in Alacer Gold have slipped four per cent after the Turkey-focused gold miner cut its output guidance for the year, citing production delays. Alacer said it has faced delays in accessing higher grade ore at the Marble Pit site, which had led to production delays in the third quarter. Alacer now expects to produce between 115,000 to 125,000 ounces of gold in 2016, down from its previous estimate of 150,000 to 170,000 ounces.
Gold Coast sugarcane farmers are preparing to truck some of their crop to NSW in an attempt to salvage something from this year's harvest. Growers on the northern end of the Gold Coast have been scrambling to get this summer's crop crushed after a fire shut down the region's only mill late last month. Already delayed after repairs to the Rocky Point Sugar Mill, local growers were facing a disastrous harvest when the 130-year-old facility was damaged in the blaze on November 29.
Britain's industrial production has taken an unexpected tumble, hurt by a sharp slide in oil and gas extraction, official data showed on Wednesday. Output sank 1.3 percent in October compared with activity in September, the Office for National Statistics (ONS) revealed in a statement. Production was hurt by the shutdown of the Buzzard North Sea oil field -- one of Britain's biggest -- which was closed for maintenance, the ONS noted.
Nigeria's biggest power station shows the huge problems that President Muhammadu Buhari must overcome if he is to fulfil his promise to tackle chronic electricity shortages and reform an economy in recession. On the outskirts of Lagos, three out of six turbines lie idle at the Egbin plant, starved both of gas due to militant attacks on pipelines that supply the station - and of funds that would allow its owners to buy alternative fuels and even implement an expansion plan. Buhari won last year's presidential election with pledges to increase power capacity exponentially during his four-year term and meet the demands of Nigeria's 180 million people entirely within a decade.
Oil prices rallied strongly following the apparently successfully OPEC production cut meeting, but the cartel’s habit of cheating is putting a ceiling on gains
Iran was set to sign preliminary agreements with Total and Shell Wednesday to develop major oil and gas fields as it seeks to boost its output, an oil official said. The deals include a $10-12 billion expansion of the South Azadegan oil field and another project at the Yadavaran oil field, both in southwestern Iran, as well as an offshore gas field near Kish Island in the Gulf. The official, speaking on condition of anonymity, did not specify how the projects would be divided between France's Total and Anglo-Dutch giant Shell.
Oil & Gas stocks surged in the wake of the OPEC deal, but some intense profit taking and falling oil prices could upend the rally
The much coveted OPEC output cut was praised by Venezuela’s President Nicolas Maduro, but the slightly higher oil prices are unlikely to save the country from a collective default
Turkey-focused miner Alacer Gold has cut its output guidance and raised cost guidance for 2016 citing production delays. It now expects to produce between 115,000 to 125,000 ounces of gold, down from its previous estimate of 150,000 to 170,000 ounces. The gold miner said, while it has revived production that had been impacted due to delays in accessing higher grade ore in the Marble Pit site, the slower than expected flow of solution will mean it will not meet the earlier guidance and that it expects the shortfall to be made up in 2017.
Oil markets showed little sign of live after the API reported a significant build in crude inventories in Cushing, whilst reporting an overall crude draw
Although it was a relatively sound trading day overall, Tuesday was marred by nervousness and hesitation for some struggling companies and oil futures.
Gold Prices – One More Dump Then Higher?
Crude Oil Back and Fill Action at the Breakout Level
After four sessions of gains that brought prices to their highest levels in more than a year, oil futures slipped on Tuesday. By midday, January WTI prices were down nearly 1.85%, while February Brent Crude prices were down about 1.75%.
Iran is now able to sell as much oil as it wants and to any country it “deems appropriate” according to President Rouhani
Gold Prices and US Dollar Pause Ahead of FOMC
One of the primary driving forces behind the surge in steel ETF has been Donald Trump's win.
Towering above the Moselle valley in northeast France are two rusting testaments to the dashed hopes of Francois Hollande's presidency that loom large over the election of his successor next year. Five years after steel giant ArcelorMittal snuffed out the last two blast furnaces in a crucible of France's heavy industry, the workers who fought to save their beloved "cathedrals", as they call them, are still seething. Lakshmi Mittal, the Indian billionaire owner of the sprawling steelworks that runs between the towns of Florange and Hayange, is the target of much of their ire.