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Steel Producers

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  • Not getting the proper policies for US growth: CEO

    Mario Longhi, CEO of United States Steel, says that it's a "give and take" when it comes to the US economic outlook.

  • It's also the prize being sought by Charles Li, the chief executive of Hong Kong Exchanges and Clearing, which bought the venerable London Metal Exchange. This is particularly attractive for global investors not big enough to justify the costs and risks involved in establishing a legal entity in China in order to be allowed to trade there.

  • MUMBAI, May 20- India's Tata Steel Ltd said it expected a rebound in steel demand in its home market but another difficult year in Europe, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with a net profit of 10.36...

  • MUMBAI, May 20- India's Tata Steel Ltd said it expected a rebound in steel demand in its home market and modest growth in Europe this year, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with a net profit of 10.36...

  • MISRATA, Libya, May 20- Libyan steelmaker Lisco is struggling to keep its mill rolling in a war zone, no easy feat when the power cuts off every night, shippers are reluctant to dock and foreign contractors are long gone. Lisco Chairman Mohamed Abdelmalik al-Faqih may have an office overlooking the Mediterranean, but the steel plant in Libya's third-largest city...

  • NEW YORK, May 19- Cable and wire manufacturer Southwire has taken steps to ensure supplies to its Kentucky rod plant continue, a spokesman said on Tuesday, as a lockout at supplier Century Aluminum Co's nearby smelter enters its second week. Century, controlled by Glencore Plc, does not expect production to be affected at the smelter during the dispute, Century...

  • HOUSTON, May 19- Marathon Petroleum Corp said on Tuesday it was disappointed by the rejection of a contract offer by striking workers at the company's Galveston Bay Refinery in Texas City, Texas. The stoppage at the Galveston Bay Refinery has become especially bitter as the union said the company was pushing proposals that would eliminate job security and roll...

  • TEXAS CITY, Texas, May 18- Hourly workers at Marathon Petroleum Corp's Galveston Bay, Texas, refinery voted on Monday to continue a strike, rejecting a contract proposal developed by a federal mediator aimed at ending a stoppage that has lasted three-and-a-half months. The workers voted by secret ballot at their Texas City, Texas, union hall within sight of the...

  • SAO PAULO, May 18- Brazilian steelmaker Usiminas will turn off two of its furnaces to reduce pig iron production by 120,000 tonnes per month and adapt the operation to lower demand in the steel market, the company said on Monday.

  • *Mining's biggest listing since Glencore in 2011. SYDNEY, May 18- BHP Billiton's spin-off South32 began trading with a market value of about $9 billion on Monday, a third below the highest forecasts and underlining investor nerves about the outlook for the battered mining sector. The cautious response to mining's biggest listing since Glencore Plc in 2011...

  • Last month, solar producer Baoding Tianwei Baobian Electric became China's first ever state-owned company to default on a bond coupon payment, showing Beijing's increasing willingness to let companies go bust in a bid to reform its corporate market. Although onshore and offshore bondholders have equal standing in China's bankruptcy law, lawyers and...

  • --Clyde Russell is a Reuters columnist. SINGAPORE, May 15- Any inquiry into the collapse of iron ore prices by the Australian Senate is likely to provide a great opportunity for political point-scoring for a domestic audience, but won't address the main issue. If any inquiry did go ahead, it would provide a platform for Andrew Forrest, the chief executive of No.4 iron...

  • *Iron ore price fall hits West African mines. PEPEL, Sierra Leone, May 14- Red piles of iron ore and rusting railway wagons in the deserted stockyard at the port of Pepel bear silent witness to a crisis engulfing Sierra Leone's mining industry and threatening others across West Africa. In Pepel, locals anticipated an economic surge for their civil war-ravaged...

  • *Europe bourses in 2015: http://link.reuters.com/pap87v. LONDON/ EDINBURGH, May 14- European shares rose on Thursday, helped by a rally in steel company stocks after a report that the European Commission had opened an anti-dumping inquiry into imports of cold rolled steel from Russia and China. The European Commission has set tariffs on imports of...

  • BEIJING— The most successful of China's entrepreneurs have created some of the world's biggest companies and amassed stunning fortunes. One of China's best-known entrepreneurs, this former English teacher from the eastern city of Hangzhou is credited with laying the foundation for e-commerce in China by founding Alibaba in 1999 to link Chinese suppliers...

  • China shares supported by telecoms, Hong Kong mixed Thursday, 14 May 2015 | 1:05 AM ET

    SHANGHAI, May 14- Telecom stocks in China rose on Thursday after Beijing said it planned to accelerate development of high speed broadband networks, while heavy industries slipped on further evidence of slowing economic momentum. China's money supply grew at its slowest pace on record and investment growth sank to its lowest in nearly 15 years, data for April...

  • SINGAPORE, May 14- China's steel consumption will likely fall 6 percent this year, an industry official from the country said on Thursday, underlining how a slowdown in the world's No. 2 economy will continue to hurt industrial demand. "This year it will continue to be negative growth, minus 6 percent," Wang Liqun, vice chairman of the China Iron and Steel Association,...

  • MELBOURNE, May 14- London copper was steady on Thursday, underpinned by a weaker U.S. dollar after fresh evidence of a soft patch in the world's top economy and by expectations that Beijing would step up stimulus to revive growth. An expected shortfall in nickel ore supplies to China's stainless steel makers is seen underpinning Chinese nickel demand, after...

  • *China investment growth rate sinks. LONDON, May 13- Copper fell on Wednesday as weak economic data from top consumer China dominated sentiment, but expectations of further monetary and fiscal stimulus helped limit losses. Fixed-asset investment is a crucial driver of growth in China.

  • *Electrical steel from China, Japan, Korea, Russia, U.S. BRUSSELS, May 13- The European Union will impose anti-dumping duties from Thursday on imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, its second set of measures this year to protect European steel producers. Duties of 28.7 percent will cover imports from...