Credit Suisse: Global steel industry has turned a corner
Credit Suisse analysts flagged supply discipline in an improving market and protectionism as two positives for the steel industry in addition to improving demand, and said the sector globally has turned a corner.
But analysts remain wary of the risks of excessive global exports, the side-effects of protectionism and a possible ramp-up of capacity, which they are watching closely, the bank said in a note to clients on Friday.
"Chinese exports remain stable in 2016, which is a positive. Inflationary pressures have increased in 2016 with first iron ore, then scrap and now metallurgical coal increasing (materially), but history shows that low inventory globally and cost inflation are typically prerequisites to kick-start a cycle," the note says. "2016 looks to be a much better earnings year than 2015, and 2017 could be better still."
Credit Suisse also affirmed Brazil's Gerdau as one of its top global picks, together with steel groups Angang, ArcelorMittal, Tata Steel, US Steel and MMK.
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News in: Mining & Metals (Brazil)
Brazil’s Bradesco betting big on water, mining, electricity
BNamericas talks to Fernando Guimarães, project finance head at Bradesco BBI, about the auspicious scenario and recent developments.
Brazilian mining association to represent firms in legal action against state taxes
"This was a very important victory in the supreme court," Ibram president Raul Jungmann said in a statement.
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Other projects in: Mining & Metals (Brazil)
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Other companies in: Mining & Metals (Brazil)
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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Lipari Mineração is a Brazilian mining company focused on the development of its wholly-owned Braúna open-pit diamond project, in Bahia state. The project is South America's fir...
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