Siemens AG is considering selling its VAI metals technologies unit as Chief Executive Officer Joe Kaeser evaluates the portfolio of Europe’s largest engineering company, according to three people with knowledge of the matter.
Posco had its credit rating lowered one level to the second-lowest investment grade by Moody’s Investors Service on concern South Korea’s largest steelmaker will struggle to cut debt amid a tough sales environment.
ArcelorMittal Chief Financial Officer Aditya Mittal comments on challenges for the steel industry including the European Union carbon price. He was speaking today on a call with reporters. The Luxembourg-based company is the world’s biggest steelmaker.
U.S. Steel Corp. and AK Steel Holding Corp. gained after after Goldman Sachs Group Inc. raised its rating on the unprofitable companies to buy from sell and said the outlook for the domestic steel industry is improving because of higher demand.
U.S. stocks rose, after the Standard & Poor’s 500 Index climbed for four straight weeks, as Exxon Mobil Corp. and U.S. Steel Corp. led a commodity rally while investors awaited data on employment and economic growth.