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| 22 Jul | No more holding back for Usiminas |
| Usiminas’ $14bn investment plan, recently unveiled by newly installed president Marco Antonio Castello Branco, was warmly welcomed by its shareholders following complaints that the group had become too conservative with its investment decisions. Acquisitions are next in line for the new head. |
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| 16 Jul | Steelmakers flex their muscles on contracts |
| Ever since, steelmakers informed contract customers of a $250/t price increase to cover higher raw material costs they have been at daggers drawn. Many end-users were caught unaware that their annual contracts did not mean a guaranteed fixed price for the steel they bought. Both sides seem to be mellowing but the damage done maybe long term for steelmakers.
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| 14 Jul | Steel shares suffer from profit taking |
| The bears have taken over the stock markets and the trading screens across the world have been a sea of red. Many analysts were puzzled, not by the bearish nature of the market, but by the initial assault on steelmakers’ stocks, which were totally unwarranted based on fundamentals. |
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