--INDIA 'S STEEL CONSUMPTION IS EXPECTED TO GROW 16% ANNUALLY UNTIL 2012 (TWICE AS FAST AS IN THE PAST FIVE YEARS) FUELED BY DEMAND FOR CONSTRUCTION PROJECTS WORTH $1 TRILLION. THE CONSTRUCTION INDUSTRY, GROWING 60% A YEAR, WILL KEEP STEEL MILLS RUNNING AT NEAR FULL CAPACITY. GLOBAL STEEL PRICES TO RISE IN 2008 AND 2009.
-- JSW STEEL IN RECENT QUARTERS HAS BEEN BY FAR THE BEST PERFORMING STEEL COMPANY IN INDIA
--JSW STEEL PLANS TO BUY A U.S. PLANT FOR $1.2 BILLION, ITS FIRST PURCHASE IN THE US. THE PURCHASE WOULD ALLOW JSW STEEL TO SHIP RAW-STEEL SLABS TO THE U.S. TO MAKE PRODUCTS USED BY SHIPBUILDERS AND ENERGY COMPANIES. LARGER RIVALS TATA STEEL AND ESSAR STEEL HAVE MADE OVERSEAS ACQUISITIONS TO SELL MORE PROFITABLE PRODUCTS AND WIN CUSTOMERS OUTSIDE ASIA.
--THE COMPANY IS EXPANDING PRODUCTION TO 10 MILLION TONNE FROM THE CURRENT 3.8 MILLION TONNE.
--JSW STEEL HAS ACQUIRED TWO MORE LICENCES FOR EXPLORING COAL MINES IN MOZAMBIQUE, AS IT BOOSTS EFFORTS TO BUILD COAL SUPPLIES TO MEET ITS EXPANDING STEEL PRODUCTION.
-- JSW STEEL SHOULD BE THE BEST PERFORMER IN THE STEEL SECTOR AND GIVEN THE BOOMING MKT FOR STEEL OVER THE NEXT COUPLE OF YEARS IT SHOULD OUTPERFORM THE MKT. BUY AND HOLD OVER THE NEXT YR @650 AND ADD AT DIPS TO 630-610 FOR TGT 1000-1200 ..
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment