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Steel Producers

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  • Asian spot iron ore is down 48 percent from the start of the year to Monday's close of $69.70 a tonne, while spot thermal coal at Australia's Newcastle Port, an Asian benchmark, has slumped 28 percent to $62.25 a tonne in the week ending Dec. 5. The case for a stabilisation in prices followed by a modest rally next year is largely built on the view of more high-cost...

  • BEIJING, Dec 9- Northern China's Hebei province, the country's dominant steel producing region, is set to move 16 million tonnes of output capacity to the coast in a step aimed at "upgrading" the sector. The Shougang Group- China's biggest steel mill formerly based in Beijing- has already shifted all its production facilities to Hebei's Caofeidian port.

  • GENEVA, Dec 8- An appeals board of the World Trade Organization reversed much of an earlier ruling against the United States on Monday, but it said U.S. duties on Indian steel broke WTO rules and asked the United States to bring them into line with its regulation. An unnamed Indian official told Reuters when the case was launched in 2012 that the United States argued...

  • *Steep year-on-year drop in China's coal, iron ore imports. SHANGHAI, Dec 8- China's monthly imports of most major commodities rose in November on favourable prices and stockpiling, although a gloomy outlook for steel dragged iron ore arrivals down to their second lowest this year. "New environmental rules that will come into force on Jan. 1, 2015 could slow steel...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Dec 8- It's getting harder to pull together a convincing, all-encompassing narrative for China's commodity imports, with the November trade data showing a fractured picture. While China also remained a net exporter of refined fuels in November, it was only just, with customs data showing net exports of...

  • *Copper eyes biggest weekly rise since late Aug. LONDON, Dec 5- Copper and other base metals fell on Friday, pressured by a buoyant dollar and concern about a possible early hike in U.S. interest rates following upbeat U.S. jobs data. Copper added about 1.5 percent for the week, the biggest weekly gain since late August.

  • *U.S. Esmark Inc says interested in plant. BELGRADE, Dec 5- Serbia is inviting bids for an 80- percent stake in a loss-making steel mill, aiming to ease pressure on the country's finances. But in a loan deal with the International Monetary Fund agreed last month, the government committed to cut subsidies in order to curb the deficit and cap debt seen at 70 percent of...

  • *Copper eyes biggest weekly rise since late Aug. KUALA LUMPUR/ SYDNEY, Dec 5- London nickel prices rose to their highest in more than two months due to tight supplies of ore, while copper was on track to post its biggest weekly rise since August as prices rebounded from falls earlier in the week. "High-grade nickel ore prices in China have been moving up slowly over the...

  • A handful of countries contributes most to climate Friday, 5 Dec 2014 | 4:17 AM ET

    China and the United States combine for more than two-fifths. China accounts for about 30 percent of global emissions. U.S. government estimates show China doubling its emissions by 2040, barring major changes.

  • SINGAPORE, Dec 5- India's iron ore imports rose to a record 6.76 million tonnes in the first seven months of its fiscal year as sliding global prices and limited supply at home pushed steel producers to buy the raw material overseas, industry data showed on Friday. Formerly the world's No. 3 supplier of iron ore, India has been importing over the last two years due to...

  • BEIJING, Dec 5- The Chinese government has ordered its most polluted province, Hebei, to draw up fresh plans to "upgrade" its economy in a bid to ease its dependence on heavy industries like steel and cement, the Economic Observer newspaper reported on Friday. Hebei, which surrounds the capital Beijing, is China's biggest steel producer and home to seven of the...

  • SAO PAULO, Dec 3- In a sign of the distortions plaguing Brazil's stagnant economy, a wide range of companies are sharply cutting back output of their main products to instead sell electricity back into the national grid because it is more profitable. Usiminas, Brazil's biggest producer of flat steel, said in its latest earnings report that revenues from...

  • Bearish Chinese bets fuel iron ore rout Tuesday, 2 Dec 2014 | 6:37 PM ET
    Trucks at an iron ore mine

    A halving in the price of iron ore this year has been fueled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract.

  • SINGAPORE, Dec 3- A halving in the price of iron ore this year has been fuelled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract on the Dalian exchange, in the process giving China the pricing power it has long craved. Analysts say its clout on iron ore could become even greater if, as proposed, it lets foreigners...

  • *Saipem, Salzgitter slide as Russia scraps pipeline project. BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia...

  • *China official PMI seen at 50.6 vs 50.8 in October. BEIJING, Nov 27- Growth in China's manufacturing sector likely slowed slightly in November as demand remained sluggish, a Reuters poll showed. Industrial Bank Co. Ltd, in a research note, said consumption only showed good signs at an online "singles' day" promotion by Alibaba Group Holding on Nov. 11 and steel...

  • STRASBOURG, France, Nov 26- The European Commission presented a 300 billion euro plan on Wednesday to boost Europe's stagnant economy, but some doubted private investors would stump up the funds, 15 times the EU contribution, needed to make it work. France and Italy, which have been demanding action to boost economic growth, cautiously welcomed the scheme but some...

  • *Sources say China ready to cut rates again. LONDON, Nov 24- Copper prices slipped on Monday, reversing hefty gains from the previous session which followed China's surprise interest rate cut, as investors focused on the uncertain outlook for metals demand from the world's top consumer. Three-month copper on the London Metal Exchange was down 0.5 percent at...

  • -Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Nov 24- What was lacking at BHP Billiton's annual meeting was an admission that what has effectively happened with iron ore is that the company's shareholders are subsidizing the profits of Chinese steel mills. It was around this time that BHP, its Anglo-Australian rival Rio Tinto, newcomer Fortescue...

  • *China bonded copper premiums slip $5 to $60- $70. SYDNEY, Nov 21- London nickel climbed to a five-week top on Friday, on track for its biggest weekly gain since early May, as Chinese stainless steel mills used up ore stockpiles amid a disruption in supplies from the Philippines. China's mills have been supplementing their nickel ore stocks with shipments from the...