Again talking of asset sales and senior management changes.With this news hitting the media the price will explode.

It still looks as though the sellers are in quite strong this am. It will be interesting to see when they decide to step aside.

Ok who bagged 3.7m + 1.3m????

Also another 2 large buy trades. whats the crack? anyone....

Looking at the order book at the of the sessions. It seems that the sellers still have the upper hand in this stock.

More pain today? Again looking at the order book for Corus, it seems as though the sellers are still here in big numbers. They seem to be taking a position very early.
When will this share turn

Corus much more tham most - this stock has now lost 40% in the space of 4 weeks...just when Corus returned to operating profit and issued a trading announcment ahead of market expectations. I am beyond pain.

Anyone heard of any rumours of corus splitting up ie,UK going back to British Steel?I've heard a few recently.

I heard something in the Nl press on this but sounds like media speculation...can't imagine it happening given the commercial performance...now selling off their alumimium interests would be much more interesting and feasible one would think

Don't usually write on message boards, but enjoy reading them. Thought this may be of interest to those who haven't seen it.

Tuesday May 25, 03:37 PM

Corus Group Plc
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Kumba signs 5-yr supply contract with CORUS

JOHANNESBURG, May 25 (Reuters) - South Africa's biggest iron ore producer Kumba Resources has signed a contract with Anglo-Dutch steel group Corus for a five-year supply of Sishen iron ore, the group said on Tuesday.

Kumba, which also has interests in base metals, heavy minerals and coal, is majority owned by mining giant Anglo American Plc .

It said the contract was the first to include an option to purchase new iron ore products from Kumba's Sishen mine expansion project.

The expansion will take Sishen's current output of 27 million tonnes a year to 28 million tonnes by the end of 2004, with a further increase to 38 million tonnes by 2007, Kumba said.

The final feasibility study for the project would be completed in August 2004 and was expected to be approved for implementation the following month.

Is there any one who still belives in Corus?
Tell me why.

Hit disproportionately by oil price shock, interest rates and general negative sentiment these last few weeks - due for a pretty big bounce so long as the volumes get back up to around 50mm levels. Undervalued, needs to break through 34 pence then should get back to 37-38 pence.

6% up today and now standing at 34p again. Still looks cheap. Needs to maintain steady momentum next week in early trading and if so expect a recovery. The problem with this stock is the short term heavy trades that can
mask its real value. I still believe this is a solid recovery stock for 2004.

Now standing at 39 pence. Whew, glad I kept the faith!

If the aluminium deal goes through we should see much more upward movement. Looking at the TA, if it can sustain at this level then breakthrough the next resistance should not take place until 44 - 45 pence. I really believe that this share will be in a different league by year end. It's like the perfect sunny day after the perfect storm - all the macros moving in the right direction and more good news anticipated. This is still a company with problems but highly sensitive to good news in high volume trading. Still looks a decent buy.

I'm fed up rattling on to myself about Corus. The recovery is well underway. At 40.5 in closing today. No resistance until 45 pence if it sustains. This is without news on the alu business but a bid of $1Bn could be very close leaving them free of this millstone and with financing to manage the restructuring to a close. CS is in the best shape it's been in in years but nobody's listening...I'll get my coat..

Corus US ended way higher today. Opening tomorrow 41.25 - 41.75 ??

Joe, sorry, I'm listening, am in as well (from 34.25). For me I see this as a long term investment which could make a seriously nice amount of money, agree that CS. is in the best shape it's ever been in a long while.

Keep the faith Seymour - hold long and you will be rewarded... a lot of people come in and out of this stock given the volumes but the long term trajectory is what's important - I genuinely believe could see your investment doubling in 12 months if things fall into place as there is now every chance they will. The recovery is well and truly underway and the market is waking up to the inherent value in this company.

Still kicking myself for not hanging on to them when I was long @ 4.25 at 400p/p back in Mar 03, 4.25 / 37.75 x 400 = 13,400 :o((((

Buying at 4.25 was a brave call...I jumped back into the water at 16p and even then heart in mouth time for several months. That would have been 935% at today's close which is quite impressive but I can totally understand selling out earlier.

Dongkuk Steel Bids for Stake in Corus's U.K. Steel Slab Plant
June 30 (Bloomberg) -- Dongkuk Steel Mill Co., South Korea's third-largest maker of the metal, is bidding for a stake in Corus Group Plc's Teesside steel plant in England to secure supplies of slab, the raw material used in steel plates.

Dongkuk submitted a non-binding letter of intent late last month to buy the mill in northern England, spokesman Kim Eung Sung said. Corus Chief Executive Philippe Varin last week said the company wants to sell as much as 80 percent of the mill and is in talks with potential buyers.

Dongkuk didn't give details on its bid for the plant, which employs 2,000 people and produces 3.4 million metric tons of steel slabs a year. The Seoul-based steelmaker is accelerating efforts to secure raw materials as rising demand from China boosts prices and delivery delays from long-term suppliers strain supplies.

``This is positive news because Dongkuk will be able to secure supplies at lower costs,'' said Park Chang Suk, an analyst at LG Investment Trust Management Co. in Seoul. Buying a stake in the Teesside mill would help Dongkuk Steel cut its raw material costs by as much as 7 percent a year, Park estimates.

Dongkuk has been buying about 2.6 million tons of steel slabs from Japan, Brazil and Australia each year, with 65 percent of imports based on long-term contracts. The company earlier this month agreed to buy 600,000 tons of slabs for at least a year from China's Jiangsu Shagang Group Co.

Rising Prices

Steel prices have risen partly because of higher demand in China, where the economy expanded 9.1 percent last year. Prices of slabs imported by China rose 34 percent to $445 a ton in the first four months of this year, according to Metal Bulletin's data.

Dongkuk raised prices of its steel plates used in ships and construction five times this year to pass on higher raw material costs. It raised prices of steel plates used in ships 70 percent to 715,000 won ($621) this year and the price of steel plates used in construction and machinery 66 percent to 715,000 won.

Sumitomo Metal Industries Ltd., Japan's third-largest steelmaker, on Monday denied a U.K. newspaper report that it offered to buy a majority stake in Corus's Teesside mill. The Observer reported that Sumitomo and Brazil's Cia. Siderurgica Nacional SA, Latin America's second-biggest steelmaker, are front- runners to buy a majority stake in the plant.



To contact the reporter on this story:
Meeyoung Song in Seoul at msong2@bloomberg.net.

To contact the editor responsible for this story:
Peter Langan at plangan@bloomberg.net.

Last Updated: June 30, 2004 03:47 EDT