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Web Changes
This is where we'll announce the most recent
additions to our web site. If you've visited us before and want to know what's
changed, take a look here first.
Recent Media Coverage of
John Tumazos Very independent Research, LLC
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Thompson Creek may be mulling buy:
analysts
American Metal Market by Mick Bowen
http://amm.com/2008-12-05__15-30-54.html
Independent analyst John Tumazos said there was
a chance Thompson Creek could use cash on hand to acquire any one of a
half dozen molybdenum projects, but added it was just as likely the
company hold on to it in case the price of molybdenum got worse.
Molybdenum oide is currently selling for $9 to 410 a pound, while it
averaged $30 a pound in 2007 and $33 a pound in the first nine months of
this year.
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Alcoa Searches for Fresh Start in
Troubled Market
Wall Street Journal Wed. December 3, 2008 page
B4. by Robert Guy Mathews
John Tumazos an analyst with Very Independent
Research, said the company has few good options as its influence in the
commodity world is nowhere as sure as it once was. "They need to
idle more smelters than they have cut," he said.
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Smaller nickel miners facing an uphill
road
By Michael Cowden October
28, 2008 http://amm.com/2008-10-28__18-37-45.html
Independent analyst John Tumazos also doubted there would be a wave of
consolidation, but said smaller producers could become insolvent and
eventually fail. "Nobody in the nickel business makes money at
$4.50 a pound," he said.
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Nickel premiums steady despite lull
By Michael Cowden October
24, 2008 http://amm.com/2008-10-24__17-15-45.html
Independent mining analyst John Tumazos said current prices don't
justify energy and chipping costs in many cases. however, LME
stockpiles amount to less than 3 percent of world usage, he pointed out,
adding that many stainless steelmakers have been destocking since the
second half of 2006.
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NY group is kicking tires at former
McLouth Steel
By Michael Cowden October
16, 2008 http://amm.com/2008-10-16__17-44-48.html
Still, despite all the economic gloom and doom,
the site's infrastructure and potentially generous government incentives
could make restarting the former mill a good idea, independent industry
analyst John Tumazos said.
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Delay in Rio asset sale to bolster BHP
bid
By Tom Jennemann October
15, 2008
http://www.amm.com/2008-10-15__18-31-08.html
But not everyone sees the divestment delay as a
negative for the Anglo-Australian mining giant. "The drop in oil
prices almost cuts resin feedstock costs in half. Whatever the
packaging business was worth on July 3 as oil peaked, it's probably
worth 25 percent more today because their profit margins should be much
larger because the squeezes are alleviated," said independent metals
analyst John tumazos. "Delaying the sale because of finanical
markets could be clever and a sign of strength and not weakness,
particularly as it relates to the packaging (unit)."
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Analysts mixed on financial crisis impact
on steel M&As
By Maria Guzzo October 7,
2008 http://www.amm.com/2008-10-07__10-38-35.html
Independent steel analyst John Tumazos also is
pessimistic about more mergers and acquisitions occurring anytime soon.
"Steelmakers just got kicked out of 'paradise'," he said, noting that
acquisitions will be a lower priority going forward.
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Surma, Mital optimistic on M&As;
investors not
By Maria Guzzo October 7,
2008
http://www.amm.com/stories/story.asp?file=/2008-10-07__16-48-14.xml
Independent steel analyst John Tumazos also is
pessimistic about more mergers and acquisitions occurring anytime soon.
"Steelmakers just got kicked out of 'paradise'," he said, noting that
acquisitions will be a lower priority going forward.
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SDI mulling flat-roll mill, may target
auto: Busse
By Scott Robertson
September 15, 2008
http://www.amm.com/2008-09-15__17-41-50.html
"SDI earns slightly better margins and returns
than its competitors," John Tumazos, analyst at Very Independent
Research LLC, Holmdel, N.J., said. "there is always room for the
best player," he added.
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Labor deal "expensive" for U.S. Steel
By Scott Robertson August
25, 2008 http://amm.com/2008-08-25__19-29-35.html
John Tumazos analyst at Very Independent
Research, Holmdel, N.J. said investors may be calculating that growth in
other steel production is about to slow due to a drop in global demand.
there is some evidence that tightness in the market for steelmaking
could be easing, he said.
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USW-ArcelorMittal
talks halt; strike said unlikely
By Maria Guzzo Aug 11, 2008
http://amm.com/2008-08-11__19-49-46.html
The cost of steel these days could also impact market movements, John
Tumazos, analyst at Very Independent Research LLC, Holmdel, N.J. said.
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SeverCorr
shift in scrap mix a "natural" process
By Michael Cowden August 6,
2008 http://amm.com/2008-08-06__19-14-33.html
No. 1 bundles and No. 1 busheling prices currently stand at a
premium to other grades of steel scrap in the United States and steel
mills could be using other grades to avoid the high tags, according to
John Tumazos, analyst at Very Independent Research LLC, Holmdel, N.J.
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ArcelorMittal said eyeing Alpha bid trumping Cliffs
By Maria Guzzo August 1,
2008 http://amm.com/stories.asp?file=/2008-08-01__21-00-28.xml
"ArcelorMittal has expressed a goal to be more self-sufficient in
metallurgical coal and iron ore," John Tumazos, an analyst with Very
Independent Research, LLC, Holmdel, N.J. said. "It may be that
Mittal considers Alpha to be much more attractive than the typical met
coal opportunity around the globe.
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Teck's $13.8B deal to buy Fording Feeds
M&A fever
By Maria Guzzo July 29,
2008 American Metal Market
http://amm.com/2008-07-29__19-35-57.html
Steelmakers worldwide will be largely unaffected because the existing
combination of ownership of supply and management will be maintained,
John Tumazos, analyst at Very Independent Research LLC, Holmdel, N.J.
said.
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Cliffs risks going from hunter to buyout
target
By Maria Guzzo July 25,
2008 American Metal Market
http://amm.com/stories.asp?file=/2008-07-25__20-24-08.xml
Analyst John Tumazos of John Tumazos Very Independent Research LLC,
Holmdel, N.J. said he, too, understands Harbinger's actions.
"Shareholders own pieces of paper and sometimes they just assume the
piece of paper is going to be the same," he said. "It's always
possible investors at Harbinger thought they were buying mostly into
iron ore and weren't expecting $10 billion worth of coal."
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Mine
start-ups might be least of nickel's worries
By Darcy Keith July 25, 2008 American Metal
Market http://amm.com/2008-07-25__20-25-14.html
"There are a number of
places around the world where the existing production should not be
taken for granted," said analyst John Tumazos of John Tumazos Very
Independent Research, LLC.
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Correnti Departs in Severcorr Reshuffle
Febuary 2008 edition of American Metal market
steel industry analyst John Tumazos said the move
raised several questions. "There's more that we don't know than we
do know," he said. "We would like to think that everyone would be
fairly rewarded."
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HudBay dives
into nickel via Skye buy
By Darcy Keith June 24, 2008
http://amm.com/2008-06-24__21-39-44.html
Fenix contains proven and probable reserves of
41.4 million tonnes of ore grading 1.63-percent nickel, which, according
to John Tumazos of Very independent Research, LLC, represents two to
three years of world consumption. "The deposit is massive. I think
the offer is low and is favorable to HudBay and a little light to Skye.?
Misquote: "proven and probable reserves of
41.4 million"
Correction: 11 billion lb of ni resources or 5
mmt contained NI resources.
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Esmark smells
profit, says Severstal offer falls short
By Michael Cowden, American Metal Market
http://amm.com/2008-06-12__19-42-34.html
The primary concern of Esmark's board should be
finding the best deal for shareholders and making sure "the $17 or $19 check
clears," analyst John Tumazos of Very Independent Research LLc, Holmdel,
N.J. said.
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Vale sparks
takeover talk with $15B Share offering
By Roberta Pregnaca, American Metal Market
http://amm.com/2008-06-10__19-33-15.html
Alcoa has more downstream exposure and might not be
such a good fit with Vale's core competence, according to analyst John
Tumazos, owner of Very independent Research LLC, Holmdel, N.J.
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Galway seeks
steel partner for N.M. mine
By Sean Barry, American Metal Market
http://amm.com/2008-06-05__19-58-37.html
"It's a big-time discovery and my job is to figure
out the best way to maximize the value of this project," Tumazos said.
"we're looking at possibly bringing in a steel company as a partner similar
to what General Moly Inc. has done. We're also looking at bringing in
financial partners."
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Severstal's
Esmark bid might be hard to beat
By Scott Robertson, American Metal Market
http://amm.com/2008-05-30__20-03-28.html
"If Franklin is backing Severstal, then it's a done
deal," said John Tumazos, analyst at john Tumazos Very Independent Research,
Holmdel N.J. "Presumably, Franklin is a knowledgeable shareholder as a
large institution. If they are backing Severstal that should get it
done."
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GM truck, SUV
cutbacks could trickle upstream
By Michael Cowden, American Metal Market
http://amm.com/2008-04-29__20-03-26.html
The real problem for the steel industry is not
declining auto sales, but supply constraints of raw materials such as iron
ore and metallurgical coal, according to john Tumazos of John Tumazos Very
Independent Research, LLC Holmdel, NJ.
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Esmark deal pales next to old W-P bid
By Scott Paterson, American Metal market
http://amm.com/com/2008-05-01__15-47-28.html
"The market got better, but
(Wheeling-Pittsburgh's) operations got worse," analyst John Tumazos
said. "The problem with comparing this offer to CSN's is that things
change over time. Wheeling-Pitt installed the electric-arc furnace
(at Mingo Junction, Ohio) and it obviously is not working properly based
on their financial numbers. But even forgetting those numbers,
it's better to sell early. CSN would have brought in slabs that would
have bypassed those molten steel operations."
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Nucor loses appeal in libel suit
gsrg - nucor loses appeal vs Tumazos 4-24-08.pdf
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Nucor Loses Bid
to Reinstate Libel Lawsuit Against Prudential
by Linda Sandler (Bloomberg)
Full Story
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ATI Stock
Climbs on Rumors about takeover by U.S. Steel
John Tumazos, analyst at John Tumazos Very Independent
Research LLC, Holmdel N.J. said he did not see how either company would
benefit from such a combination. He said he didn't believe U.S. Steel
would but ATI as U.S. Steel is seeking "bolt-on" extensions with large
synergies to existing U.S. iron ore, sheet, and tube or East European sheet
units.
American Metal Market, by Maria
Guzzo: April 7, 2008
http://amm.com/wrappers/story.asp?file=/2008-04-07__18-51-50.xml
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Duluth
Metals to present at JTVIR Metals Conference March 27, 2008
http://www.duluthmetals.com/s/NewsReleases.asp
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Taseko
Mines to present at JTVIR Metals Conference
http://www.tasekomines.com/tko/newsreleases.asp?reportid=292166
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Dofasco sues
for iron ore mine
By Naomi Powell The Hamilton Spectator March 14, 2008 page A16
Dofasco.doc
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Tumazos Sees Global Economic `Boom' on Low Rates
Mar. 11 (Bloomberg) -- John Tumazos, founder of
Very Independent Research LLC, spoke yesterday with Bloomberg's Tom Keene
from Holmdel, New Jersey, about commodity prices, the gold market and the
global economy.
weblink
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Interview with
John Tumazos
htttp://www.wsw.com/webcast/vir/video.html
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Hot-roll band
prices surge to new highs: Benchmarker
American metal Market by Maria
Guzzo http://amm.com/2008-02-13__19-25-29.html
John Tumazos, analyst at John Tumazos Very
Independent Research LLC, Holmdel, N.J., said the price hikes "reflect
December/ January scrap cost increases, which mills are now trying to
recover with a time lag after the fact."
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Century Aluminum
Sunday (Charleston, WV)
Gazette-Mail Sunday Feb 3, 2008 "Century has to face the numbers" By George
Hohman
Chief Operating Officer Wayne Hale said in September
that alumina accounts for 37 percent of Ravenswood's costs; electricity,
26 percent; labor, 16 percent; carbon, 8 percent; and other raw
materials, 12 percent. John tumazos, an independent analyst, said
Ravenswood's expenses are in the ballpark when compared to others.
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U.S. Steel to
raise production at Stelco facilities
American Metal Markets
http://amm.com/2008-02-04__15-44-12.html By Michael Cowden
One industry analyst said the depreciating dollar was a concern. It is
unclear whether U.S. Steel will earn suitable returns from Stelco unless
exchange rates change, according to John C. Tumazos, head of John Tumazos
Very independent Research LLC, Holmdel, N.J.
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SSAB said in
talks to divest Ipsco's tubular operations
American Metal Market by Michael
Cowden
http://amm.com/wrappers/story.asp?file=/2008-02-04__20-42-29.xml Feb 4,
2008.
"The price SSAB paid was very generous," said John
Tumazos of John Tumazos Very Independent Research LLC, Holmdel, NJ.
And SSAB might be "very Happy" to exit a product line or two in order to
reduce debt and capital employed, especially in the face of turmoil in
the credit markets, he said.
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Alcoa awaits BHP
decision as Rio offer deadline looms
American Metal Market by Mathew Lerner
http://amm.com/2008-02-05__19-02-19.html Feb 5, 2008
Alcoa could
be taking a two-track approach, according to John C. Tumazos of John Tumazos
Very Independent Research, LC, Holmdel, NJ. Alcoa owns only 9 percent
of the stake it purchased with Chinalco, meaning it directly controls no
more than 1 percent of Rio stock. Alcoa might swap that stake for a
specific asset or flip it later at a profit, he said.
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USS reportedly
eyeing Bulgaria mill acquisition
American Metal Market
http://amm.com/2008-01-30__20-15-40.html By Maria Guzzo
"It makes sense to integrate it with Belgrade and Kosice into their
system. Their advantage is defined as how efficient they could
make them all." said John Tumazos, head of Very independent Research
LLC, Holmdel, N.J., who added that although he had heard nothing about
the negotiations, such a purchase could be beneficial to the
Pittsburgh-based steelmaker.
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Hot-roll band on
strong drive in US, world export markets
American Metal Markets
http://amm.com/2008-01-30__20-12-53.html By Michael Cowden
"Currency fluctuations could be partially accountable for the difference
between U.S. and Chinese prices, as the U.S. dollar continues to weaken
while the Chinese Yuan strengthens, said John Tumazos, analyst at John
Tumazos Very Independent Research LLC, Holmdel, N.J. And, of course,
low customer inventories are encouraging North American steelmakers to
increase domestic market prices, he added.
Tumazos speculated that world export prices might be rising as U.S. mills
divert supplies away from export markets to long-standing distributor
customers- a move that might at first glance appear counterintuitive, given
strong prices abroad. "You can sell to the person you get the highest
bid from, or you can go out and serve the customer who orders from every
month," he said.
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Duluth Complex
projects move forward
Article from The Northern Miner, Volume 93 Number
47, Jan 14-20, 2008
"In a third-quarter conference call, Teck chief executive Don Lindsay
told research analyst John Tumazos that there was "nothing material to
report" on Mesaba, and that there "won't be for some time.""
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Alcoa's Stint
in the Minor Leagues
Tuesday January 29, 2008 edition of the Wall
Street Journal page C1
By 2015, the Middle East smelters could
produce aluminum 25% cheaper than Alcoa does now, says John Tumazos, who
runs a metals-research concern called Very Independent Research. "It
will be very difficult for Alcoa to compete," he says.
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Steel mat feel
minimal recession fallout
Article from American Metal Market January 22,
2008 http://amm.com/2008-01-22__19-22-39.html
"The outlook for metal industries in general remains strong, according to
John Tumazos, founder of John Tumazos Very Independent Research LLC,
Holmdel, NJ. Companies such as U.S. Steel and Nucor could even use
the market downturn as an opportunity to buy back shares at bargain prices."
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Anglo American May
Buy Brazil Projects
Friday January 18, 2008 edition of the Wall Street
Journal page 9
"It is a coup that Anglo American is doing this deal," said John Tumazos,
an analyst with Very Independent Research, LLC. "All the iron-ore
producers of the world envy Vale's spectacular resources in Brazil and would
like to have something like it" He said the price is justified, given
the entry into a rich market
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SeverCorr
squeeze-out aimed at four top execs.
Article from American Metals
Markets. SeverCorr squeeze-out aimed at
four top execs
2007 news articles |
