Steel Producers
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--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, June 17- It may be too early to start beating the drums of victory for free-market capitalism, but there are signs that China is stepping back from attempts to control the iron ore market.
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SOUTH MILWAUKEE, Wis.-- Caterpillar Inc. says it is placing about 260 production employees at its South Milwaukee plant on indefinite layoff because of weaker demand for mining equipment. The Milwaukee Journal Sentinel reports the layoff notices come just three days after members of United Steelworkers Local 1343 ratified a six-year labor contract.
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The plant, the largest capital investment by a manufacturer in northeast Ohio since the 1960 s and Youngstown's first new steel mill since the 1920 s, is a big example of the money that has flowed into the state's industrial sector in recent years thanks to the surge in U.S. natural gas and oil drilling.
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The plant, the largest capital investment by a manufacturer in northeast Ohio since the 1960 s and Youngstown's first new steel mill since the 1920 s, is a big example of the money that has flowed into the state's industrial sector in recent years thanks to the surge in U.S. natural gas and oil drilling.
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NEW YORK-- Shares of AK Steel Holding Corp. rose Thursday after the company raised prices for carbon flat-rolled steel products. THE BIG PICTURE: AK Steel makes flat-rolled carbon, stainless and electrical steel products for the automotive, construction and infrastructure, manufacturing and electricity industries among others.
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Nucor said the nonresidential construction segment still lacks "sustained momentum" but is gradually improving. The company forecast earnings per share for the second quarter, ending June 29, of 25 to 30 cents, down from 35 cents a year earlier. Nucor shares were up 3 percent at $45.24 in morning trading on the New York Stock Exchange.
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GENEVA, June 13- The European Union said on Thursday it had lodged a complaint at the World Trade Organisation against China's imposition of anti-dumping duties on imports of stainless steel tubes, six months after Japan filed a similar case.
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June 13- Steelmaker Nucor Corp said on Thursday that it expects earnings to fall in the second quarter compared with a year earlier, and that its steel mills' operating performance has deteriorated from the first quarter of 2013.. The company forecast earnings per share for the second quarter ending June 29 of 25 to 30 cents, down from 35 cents a year earlier.
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SHANGHAI, June 13- China plans to scrap a decade-old iron ore import licensing system this year, an industry source with direct knowledge of the matter said, opening up an import market that takes two-thirds of the world's international iron ore trade.
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June 12- Cliffs Natural Resources Inc said on Wednesday it was suspending work on its $3.3 billion chromite-mining project in northwestern Ontario, a move that dimmed hopes for development of the region's mineral-rich Ring of Fire.
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June 12- Cliffs Natural Resources Inc said on Wednesday it is "temporarily suspending" work on its $3.3 billion chromite-mining project in northwestern Ontario, casting doubt on development hopes for the region's mineral-rich Ring of Fire.
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June 12- Cliffs Natural Resources Inc said on Wednesday it is "temporarily suspending" work on its $3.3 billion chromite project in northwestern Ontario, raising questions about the development of the region's mineral-rich Ring of Fire.
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The departure of precious metals miner Polymetal and steelmaker Evraz after less than two years signals the end- for now- of a move into the major league that had been expected to pave the way for more Russian arrivals.
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Jack Welch, Jack Welch Management Institute founder, says for the past six months demand for industrial products tied to copper and steel have increased.
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BEIJING, June 8- China's General Administration of Customs released preliminary trade data for May on Saturday. Following are tables showing selected commodity and energy trade volumes compared with the previous month and a year earlier, as well as year-to-date figures. Detailed final figures will be released later this month.
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BEIJING, June 8- China's imports of major commodities all rose in May, even as overall imports weakened, as favourable price movements and an easing of port congestion conspired to boost inward shipments of everything from copper to soybeans.
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SHANGHAI, June 7- Some Chinese steelmakers are tentatively curbing output by starting plant maintenance, as weak steel prices squeeze margins, but the cuts look like being too little and too late to support prices at the lowest in more than nine months.
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*Steel mill in question now belongs to ArcelorMittal. KIEV, June 6- A Ukrainian court has renewed proceedings in a long-frozen trial in which two local businessmen are challenging the nationalisation of a large steel mill which has since been sold to ArcelorMittal, court files show.
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PARIS, June 6- While French President Francois Hollande is at pains to repair his fraught relations with business, his industry minister has other ideas- or so many entrepreneurs and even some government colleagues believe.
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PORT TALBOT/ NEW DELHI, June 6- In the shadow of Britain's largest steel works, the town of Port Talbot braces itself after Tata Steel's $1.6 billion writedown. "It's just the kind of a business you don't want to be in, especially their UK assets, they are higher costs," said Willem Schramade, materials equity analyst for the 7 billion euros Global Equity fund at Robeco. "
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