The latest commodities markets news and analysis from FriedlNews
Page 1/16

Austrian Commodities Markets Headlines

Agrana’s CEO Expects Sugar Price Hike in 2016

The head of Agrana, Johann Marihart, expects a rise of sugar prices in 2016, even though the good prospects for sugar beet crops this year mean that the sugar production volume will be higher and will thus act as a price-reducing factor. The current four-year high of the world sugar price is due to small stock reserves. However, due to the EU market regulation this factor has only a limited impact on EU prices.

July 7, 2016

Municipal Utilities in Vienna to Downsize

The municipal utilities company in Vienna (Wiener Stadtwerke) is cutting costs. The company intends to downsize, and by 2018 it plans to reduce its staff number (of currently 5500) by 900 in the energy sector. 800 of the affected employees will go into retirement.

June 13, 2016

Voestalpine Secures Large Deal in Texas

Listed steel group voestalpine has secured another large deal in Texas, for U.S. steel manufacturer Big River Steel. The Austrian company is going to supply up to 240,000 tonnes of hot briquetted iron (HBI) per year from 2017 to the U.S. enterprise, it was announced.

June 13, 2016

Austrian Wood Industry Back on Track

Positive trend returned to the Austrian wood industry after three years of contraction. In 2015 the branch recorded 4.8 percent growth and generated sales of EUR 7.49 billion. The branch association expects a slight gain this year.

June 3, 2016

Voestalpine Invested More Than Ever in 2015/16

The Linz-based steel group Voestalpine invested more last financial year than ever before. "With over EUR 1.3 billion this was the year of highest investments in our history and we had no problems with financing this enormous contribution” the head of the group Wolfgang Eder stressed at the annual earnings conference.

June 3, 2016

ÖBIB and IPIC Extend, Update OMV Syndicate Agreement

ÖBIB and IPIC, the key shareholders of oil and gas group OMV, updated and extended their syndicate agreement. Head of state holding ÖBIB, Martha Oberndorfer and chairman of IPIC, the state fund of the United Arab Emirates, Suhail Mohamed Al Mazrouei, who is also Energy Minister of the UAE, signed the modified agreement.

June 2, 2016

Voestalpine Invests EUR 300 Million in Linz this Year

Upper Austrian steel group Voestalpine is going to invest in 2016 some EUR 300 million (USD 334.4 million) in the Linz-based facility, board member Herbert Eibensteiner estimated, a press report indicates.

May 25, 2016

Oil and Gas Production Down in Austria in 2015

The output of crude oil and gas in Austria dropped last year, and more so for EVN subsidiary Rohöl-Aufsuchungs AG (RAG). The total oil production fell by 4.1 percent to 905,932 tonnes, whereas the output of natural gas decreased by 4.3 percent to 1.182 billion cubic metres, the Federal Geological Office (Geologische Bundesanstalt) disclosed.

May 24, 2016

VSE: International Investors Dominate Vienna Stock Exchange

International institutional investors are largest group of investors on the prime market of the VSE Vienna Stock Exchange. They account for some 78 percent of institutional free float of the prime market index ATX Prime stocks, according to a study.

April 12, 2016

Austrians to Save Some EUR 2.3 Billion Due to Low Oil Price

According to economic research agency WIFO the low oil price has allowed Austrians to save some EUR 2.3 billion (USD 2.6 billion) y/y, based on the reference oil price from 2014. Private households alone saved EUR 800-850 million.

February 25, 2016