*Iran is 4th- largest iron ore supplier to China. SHANGHAI/ LONDON, May 21- Iran's government is negotiating a tax of up to 40 percent on iron ore exports to take advantage of a surge in sales to China, aiming to replace revenue from oil and other sources eroded by sanctions.» Read More
*Iran is 4th- largest iron ore supplier to China. SHANGHAI/ LONDON, May 21- Iran's government is negotiating a tax of up to 40 percent on iron ore exports to take advantage of a surge in sales to China, aiming to replace revenue from oil and other sources eroded by sanctions.
CHICAGO, May 20- Caterpillar Inc said late on Monday that it would resume contract talks with the union representing about 800 Milwaukee workers who make specialized mining machinery.
*Japan's reflationary policy helps domestic demand. TOKYO, May 20- Nippon Steel and Sumitomo Metal Corp expects its domestic crude steel output to rise 2 percent in the April-June quarter, as Japan's reflationary policy drives the yen lower and makes the country's goods more competitive.
"You want to be in sectors that sell to the people who benefit from wage inflation: consumers," said John Lomax, head of emerging equity strategy at HSBC. Russian supermarket chain Magnit saw profits jump 28 percent in the first quarter and its shares have returned 190 percent since April 2010, according to Morgan Stanley.
*More low-cost nickel-pig-iron capacity to weigh on prices. HONG KONG, May 16- China's producers of nickel-pig-iron are racing to upgrade their facilities as reduced demand from stainless steel mills and weaker nickel prices drive them to cut costs.
*China expected to spend less on steel. LONDON, May 15- Banks are withdrawing from Europe's troubled steel sector, putting the survival of even some of the most established industry players at risk and forcing companies to seek alternative funding sources.
FRANKFURT, May 15- German steelmaker ThyssenKrupp took another writedown on the value its Steel Americas business, driving it to an unexpected quarterly loss but raising hopes it is closer to selling the troubled asset. At 0820 GMT, ThyssenKrupp shares were up 4 percent at 15.715 euros, among the biggest rises by a European blue-chip stock.
*Banca Monte dei Paschi di Siena rises after results. PARIS, May 15- European shares were mixed in early trade on Wednesday, taking a breather from a sharp rally started in mid-April, with lower-than-expected growth data for Germany and France denting investor appetite.
KABUL, May 15- U.S. forces in Afghanistan are hoping that a small steel industry can be born from the mammoth task of withdrawing equipment by the end of next year, jump-starting a scrap trade and injecting cash into local businesses.
LONDON, May 13- A rush to lock in financing deals for zinc while they are still profitable has been the main driver behind a recent fall in inventories and will keep premiums high for industrial users, industry sources said.
BRUSSELS, May 10- ArcelorMittal, the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe. The $500- billion- a-year steel industry, a gauge of the global economy, has been hit hard by a drop in demand from austerity-ravaged Europe and signs of slowing growth in China.
*ArcelorMittal, BT, Generali results beat expectations. LONDON, May 10- European equities scaled fresh five-year highs on Friday, bolstered by strong earnings numbers from steelmaker ArcelorMittal and telecoms group BT and expectations of continued central bank stimulus.
*India's federal gov't to decide on POSCO iron ore mining licence- court. *POSCO says order will help to expedite project.
Paul Renken, senior geologist and mining analyst at VSA Capital, questions ArcelorMittal's steel prices outlook, and discusses what it could do to reach its higher profit guidance for 2013.
*ArcelorMittal, BT, Generali results beat expectations. LONDON, May 10- European equities punched fresh five-year highs on Friday, continuing to draw support from central bank stimulus, and with steelmaker ArcelorMittal and telecoms group BT jumping on strong earnings.
*India's federal gov't to decide on POSCO iron ore mining licence- court. NEW DELHI, May 10- POSCO's planned $12 billion project in India got a boost on Friday after a top court said the federal government will decide on giving the South Korean steelmaker's long-delayed plant preferential access to iron ore.
LONDON, May 10- European equities edged up to fresh five year highs on Friday, continuing to draw comfort from central bank stimulus and with steelmaker ArcelorMittal jumping on strong earnings. "It's up, up and away," said Justin Haque, a broker at Hobart Capital markets.
At 0603 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.02-0.18 percent.
NEW DELHI, May 10- India's federal government will decide if South Korean steelmaker POSCO can have preferential access to an iron ore mine for its planned $12 billion steel plant, a top court said, providing a boost to the troubled project billed as the country's largest foreign direct investment.
BRASILIA, May 9- President Dilma Rousseff added a new minister to her Cabinet on Thursday, further enlarging a federal government whose rapid growth since her leftist party came to power a decade ago has increased Brazil's heavy tax burden.