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Steel Producers

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  • MOSCOW, July 31- Russian stock indexes erased early gains on Thursday, falling into the red by evening, as global markets declined and Russia waited to see details of further European Union sanctions over the conflict in Ukraine.

  • *Eramet says Norilsk would sell to Asia if targeted by West. PARIS, July 30- An embargo against Norilsk Nickel as part of Western sanctions against Russia would hurt nickel users in Europe and the United States rather than Norilsk itself, the head of French mining group Eramet said.

  • *Mozambique bets on India's growing demand for coal. LONDON, July 30- Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector.

  • China's local GDP data points to recovery, rebalancing Wednesday, 30 Jul 2014 | 2:26 AM ET

    BEIJING, July 30- China's regional economies enjoyed a revival in growth in the second quarter, data from provincial governments showed, chiming with earlier figures that suggest a burst of government stimulus measures is re-invigorating activity. Growth also diverged sharply between eastern and western China.

  • July 29- United States Steel Corp reported a narrower second-quarter loss on Tuesday as steel prices improved, but the impact of bad weather, higher repairs and maintenance costs continued to weigh on earnings. Net loss narrowed to $18 million, or 12 cents a share, in the three months to end-June from $78 million, or 54 cents, a year earlier.

  • *Second-quarter adj. profit 2 cents/ shr vs est loss 4 cents/ shr. July 29- AK Steel Holding Corp reported a surprise quarterly profit as prices rose and it shipped more steel, sending its shares up nearly 8 percent to their highest in two years.

  • July 29- AK Steel Holding Corp reported a surprise adjusted profit for the second quarter as shipments rose. Steel prices in North America are near two-year highs, helped by firm U.S. economic growth. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the second quarter, from $40.4 million, or 30 cents per share, a year earlier.

  • AK Steel's loss narrows as shipments rise Tuesday, 29 Jul 2014 | 8:39 AM ET

    July 29- U.S. steelmaker AK Steel Holding Corp reported a smaller second-quarter loss, helped by higher shipments. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the quarter ended June 30, from $40.4 million, or 30 cents per share, a year earlier. Net sales rose 9 percent to $1.53 billion.

  • Finland's Outokumpu trims quarterly loss on cost cuts Thursday, 24 Jul 2014 | 2:11 AM ET

    HELSINKI, July 24- Finnish stainless steel maker Outokumpu on Thursday reported a smaller-than-expected underlying loss in the second quarter, helped by cost-cuts, but forecast a slighty bigger loss for the third quarter. Outokumpu trimmed its underlying operating loss to 6 million euros from 87 million euros in the same quarter a year earlier.

  • NEW YORK, July 22- Egypt's steel companies have filed a petition against rebar and wire rod imports from China, Turkey and Ukraine, one of its top steelmakers said on Tuesday, the latest move in a years-long quest to protect the fledging industry from low-priced imports. "How can rebar and wire rod enter Egypt with zero customs?

  • *Beijing trying to end years of support for bloated sector's such as steel. TANGSHAN, China, July 23- In Tangshan, a polluted industrial Chinese city that produces more steel a year than the entire United States, the Xinming Steel Pipe Plant shut earlier this month leaving more than 400 workers and a host of creditors unpaid.

  • *China output near record levels, CIS growth strong. China produces around half the world's steel, but output growth remained strong at 3.6 percent in North America and at 1.8 percent in the CIS- the third and fourth-largest producing regions after Asia.

  • In the Gaza Strip, Israeli jets, tanks and artillery continued to pound Gaza as the death toll from a two-week conflict topped 500. Malaysia has reached an agreement with the leader of the separatist group to retrieve the bodies of the victims from last week's downing of a Malaysia Airlines passenger jet as well as the plane's two black boxes, Malaysian Prime Minister Najib Razak said on Tuesday.

  • July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.

  • July 21- Steel Dynamics Inc will buy Severstal's Columbus mini-mill for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. AK Steel said the deal also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.

  • European shares buoyed after miners receive China boost Wednesday, 16 Jul 2014 | 4:04 AM ET

    Dutch blue chip toolmaker ASML, down 1 percent, and Swedish telecoms firm Tele2, down 1.1 percent, both reported better-than-expected quarterly earnings but had a cautious tone for their full-year outlook statements. Analysts at Espirito Santo said that "uncertainty remains high" for Tele2.

  • European shares rise as miners buoyed by China growth Wednesday, 16 Jul 2014 | 3:13 AM ET

    EDINBURGH, July 16- European shares gained in early deals on Wednesday, buoyed by strength in miners after Chinese growth slightly beat expectations, hinting at resilient demand in the world's largest metals consumer.

  • India may appeal parts of WTO steel ruling Tuesday, 15 Jul 2014 | 11:56 AM ET

    NEW DELHI, July 15- India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute.

  • But Washington sees bright side of findings. GENEVA, July 14- World Trade Organization judges said on Monday the United States broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies.

  • WASHINGTON, July 14- The United States is studying a World Trade Organization ruling about anti-subsidy duties imposed on some Indian steel products and will consider all available options, the office of the U.S.