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NEWS
Recent Media Coverage
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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 |