New Report Preview:

Tenaris (TS) reported 2Q EBITDA of $758.6m, slightly ahead of the Street’s $751.6m, adjusted 1Q EBITDA of $718.2m and the year-ago period’s… more

Our full report is available to subscribers only and provides further thoughts on Tenaris’ 2Q earnings report and conference call as well as the implication for the stock and other equities.

For a copy of our full report and a free trial subscription, please contact us.

New Report Preview:

Rio Tinto plc reported 1H underlying EBITDA of $10.08B, ahead of analysts’ $9.87B but 29% below the year-ago period EBITDA. Lower commodity prices… more

Our full report is available to subscribers only and provides further thoughts on Rio’s 1H earnings report and conference call as well as the implication for the stock and other equities.

For a copy of our full report and a free trial subscription, please contact us.

New Report Preview:

Ternium S.A. (TX) reported 2Q EBITDA of $348.0m, 4% short of the Street’s $363.6m and down 6% from 1Q’s EBITDA of $372.0m.  Management attributed the decrease to… more

Our full report is available to subscribers only and provides further thoughts on Ternium’s 2Q earnings report and conference call as well as the implication for the stock and other equities.

For copy of our full report and a free trial subscription, please contact us.

The number of active oil and natural gas rigs in the United States rose for the second straight week to 1,931 for the week ending August 10, 2012, up 0.1% from the prior week but down 1.4% from the year-ago level.

The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.

The number of rigs in Canada fell again this week by 1.3% to 299 compared with 303 last week and down 35.6% from the year-ago level.

The highest rig count forCanadawas 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.

Source: Baker Hughes Inc.

Steel Market Production Increases – An Italian Courthas stopped the shutdown of Ilva’s 11 million tpy capacity plant in Taranto Italy provided that the plant be upgraded to reduce its environmental impact.

Steel Market Production Increases – Italian Steelmaker Lucchini plans to restart the blast furnace at its Piombino works on August 26 after having stopped it for four weeks due to a weak market – the company is currently running at 1.2-1.4 million tpy of its installed capacity of 2.4 million tpy.

Steel Market Production Increases – Ukrainian steelmaker Alchevsk has announced that it plans to increase production by 21 percent in August to 290,000 tonnes of crude steel for the month.

Sources: Steel Business Briefing and SteelOrbis

New Report Preview:

July net Chinese steel exports dropped 23.5% to 3.13 million tonnes (mt) from 4.09 mt in June, as the combination of government-guided production cuts in late July and a… more

Our full report is available to subscribers only and provides further thoughts on China’s July steel trade balance and steel prices as well as the implications for steel equities.

For a copy of our full report and a free trial subscription, please contact us.

New Report Preview:

Nucor has raised net transaction prices of rebar, merchant bar and beams by $50/ton effective September 1, following the $83/ton increase in scrap prices, ahead of … more.

Our full report, which is available to subscribers only, provides further thoughts about domestic and global steel prices as well as the implication for steel equities.

For a copy of our full report and a free trial subscription, please contact us.