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Steel Producers

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  • TANGSHAN, China, May 16- Credit controls imposed on China's debt-ridden steel sector have left many producers unable to afford upgrades needed to survive the country's war on pollution, and 80 million tonnes of capacity could shut in two years, an industry official said.

  • *Coming Up: U.S. Housing starts, Building permits April at 1230 GMT. Copper prices have been underpinned by tight supply and falling stocks amid the peak season for demand. "Copper prices have broken out of their recent range, but in the near term I question how much further they can go," said Tim Radford, analyst at adviser Rivkin in Sydney.

  • May 16- Alcoa Inc said it had reached a tentative agreement on a new five-year labor contract with the unionized workers at 10 U.S. metal plants shortly before the expiration of their previous labor contract.

  • May 15- Negotiators for Alcoa Inc and unionized workers at 10 U.S. plants were "very far part" on several key issues, including wages and healthcare premium increases, with less than 12 hours before the expiration of their labor contract, the United Steelworkers said on Thursday.

  • METALS-Nickel recoups some losses after falling 10 pct Thursday, 15 May 2014 | 12:26 PM ET

    LONDON, May 15- Nickel prices recouped some losses on Thursday, paring an earlier 10 percent fall as investors seized the opportunity to jump back into a market, where there are expectations of future gains as supply shortages become more severe.

  • LONDON, May 15- Nickel rebounded on Thursday, paring an earlier 10 percent loss as investors seized the opportunity to jump back into the market, where there are expectations of future gains as supply shortages become more severe.

  • Nickel prices reached their highest in more than two years on Tuesday with gains of more than 50 percent this year in response to an export ban by top ore supplier Indonesia in January. Nickel is expected to bounce back as long as Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • Banks vie for fees as Nordic deal scene ignites Thursday, 15 May 2014 | 5:39 AM ET

    *Nordics increase share of Europe's M&A, listings. STOCKHOLM, May 15- Scandinavia has become a hot spot in Europe's corporate dealmaking scene this year, almost doubling its share of merger and acquisition activity and listing more companies than anywhere but Britain.

  • SYDNEY, May 15- London nickel pared losses on Thursday after plunging nearly 10 percent on a blast of momentum-based sales that gouged into a spectacular rally driven by supply concerns. Nickel prices had surged more than 50 percent this year to reach the highest in two years on Tuesday, after top ore supplier Indonesia banned exports in January.

  • SYDNEY, May 15- London nickel plunged nearly 10 percent on Thursday as light profit-taking triggered a blast of momentum-based sales after supply concerns fuelled a rally of more than 15 percent in the past week.

  • MELBOURNE/ HONG KONG, May 15- The days when Australian mining magnates could dictate terms to Chinese buyers are over. "This may get the wheels turning where other Chinese companies are sitting with big stakes and have an inside track," said Paul Donnelly, executive director at JPMorgan, who works on metals and mining deals.

  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • NEW DELHI/ MUMBAI, May 14- Tata Steel Ltd said a phase of solid economic growth in Europe was supporting a recovery in steel demand in its main market, which also helped the company post results that easily beat analysts' estimates in the March quarter. Tata Steel got a foothold in Europe through its $13 billion acquisition of Britain's Corus in 2007..

  • METALS-Nickel slips from 27-month highs, copper gains Wednesday, 14 May 2014 | 6:00 AM ET

    LONDON, May 14- Nickel prices slipped on Wednesday as a rally that had propelled the metal to 27 month highs ran out of steam, but concerns about tightening supplies are likely to keep prices supported. Three-month nickel on the London Metal Exchange fell 1 percent to $20,781 a tonne at 0936 GMT, after rising the last six trading sessions.

  • European shares hit multi-year high, Airbus surges Tuesday, 13 May 2014 | 12:57 PM ET

    *Airbus, ThyssenKrupp help industrial shares. LONDON, May 13- European equities ended higher on Tuesday, with some benchmarks hitting multi-year highs following upbeat company results from major companies such as aerospace giant Airbus and steelmaker ThyssenKrupp.

  • European shares hit multi-year high, industrials up Tuesday, 13 May 2014 | 10:16 AM ET

    *Airbus, ThyssenKrupp help industrial shares. Airbus Group surged 6.3 percent in a relief rally after it reported better-than-expected profits and said its latest jetliner was "progressing towards certification" in time for first delivery by the end of the year.

  • TOKYO, May 13- Sumitomo Metal Mining Co Ltd, Japan's biggest nickel smelter, said there was an increasing risk it could cut production of key stainless steel ingredient ferronickel, amid growing concerns about ore shortages.

  • Europe shares rise on upbeat earnings, Bundesbank talk Tuesday, 13 May 2014 | 7:15 AM ET

    PARIS, May 13- European stocks rose on Tuesday, with a number of benchmarks hitting multi-year highs, boosted by upbeat company results and a report saying Germany's central bank is ready to back new stimulus measures from the European Central Bank.

  • SHANGHAI, May 13- China's crude oil runs, oil demand and total base metals production unexpectedly fell in April from the preceding month, with slackening power generation also fanning concerns that the world's second-largest economy is not yet on a stable footing.