Steel Producers


  • TOKYO, March 17- Tokyo Steel Manufacturing Co will maintain current product prices for delivery in April as customer stockpiles grow after a winter freeze and labour shortages curbed construction projects, said the country's top electric furnace steelmaker.

  • *Mechel should repay $1 bln of debt this year. MOSCOW, March 14- Russia may again have to step in to help coal and steel group Mechel after the country's largest private bank asked for the early repayment of a $150 million loan.

  • *Mechel shares down 14 pct in Moscow, underperforming index. MOSCOW, March 14- Indebted Russian coal miner and steelmaker Mechel is in talks with lenders on refinancing and early debt repayment, the company said on Friday.

  • MOSCOW, March 14- Russian coal miner and steelmaker Mechel is in talks with Alfa Bank, Russia's largest private bank, on paying off a $150 million debt early, Mechel said on Friday. The company's press-service said in an emailed comment that Alfa Bank had asked for the early repayment and the two sides were in discussions.


  • SEOUL, March 14- POSCO's new chief executive said the South Korean steelmaker will restructure non-steel businesses and not make any major investment in increasing steelmaking capacity, in a marked break from the strategy of his predecessor.

  • SEOUL, March 14- POSCO's new chief executive said the South Korean steelmaker will sell non-core assets and list some affiliates to shore up its balance sheet, shying away from major new investments in a marked break from his predecessor's strategy.

  • SEOUL, March 14- POSCO's new chief executive said the steelmaker will shy away from expanding manufacturing capacity for the time being, and raise cash by selling non-core assets and by listing some affiliates- a marked break with the strategy set by his predecessor.

  • SHANGHAI, March 13- Growing jitters about the financial health of bloated industries in China have prompted many banks to cut lending in these sectors by as much as 20 percent, banking and industry sources with knowledge of the matter said.

  • LAUNCESTON, Australia, March 13- Conventional thinking is that iron ore prices have plunged this year because of concerns about China's economic growth outlook, but it's possible the reverse is the case.

  • Australia's iron ore miners hang tough as prices fall Wednesday, 12 Mar 2014 | 5:00 PM ET

    PERTH, March 13- If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd. "Sometimes it hurts a bit, like you copped it in the stomach.

  • *No disruption from political tension in Ukraine. LONDON, March 12- Ukraine- focused iron ore miner Ferrexpo announced its second special dividend in as many years after it posted increased annual profit and said it is on track to boost production this year.

  • *Copper prices melting as Shanghai futures hit lowest since 2009. SYDNEY, March 12- Asian stock markets swung lower on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine to keep investors cautious and commodities under a dark cloud.

  • China concerns take toll on copper, stirs talk of policy easing. turn lower on Wednesday as economic uncertainty in China and. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5 percent.

  • SunCoke said it would initially transfer a 33 percent interest in its Haverhill and Middletown cokemaking facilities in Ohio to SunCoke Energy Partners LP. Apart from the two coke plants to be initially transferred to the MLP, the company has plants in Virginia, Indiana and Illinois as well as in Brazil and India.

  • LONDON, March 11- The recent history of copper and iron ore has been all about China. These price swoons have been triggered by the same fears about the China growth story. Both copper and iron ore markets are reacting to a bearish one-two combination of news out of China.

  • *Unexpected fall in China's exports has increased worries on economy. SINGAPORE/ BEIJING, March 11- China's biggest-listed steel maker Baosteel said a slump in iron ore was' inevitable' and prices had further to fall, as traders said some buyers in the world's top consumer of the raw material were trying to delay shipments after panic selling.

  • European shares mark time, Portugal outperforms Tuesday, 11 Mar 2014 | 5:38 AM ET

    *Portugal leads risers as sovereign yields fall to 4- year lows. LONDON, March 11- European shares steadied after a two-day slide on Tuesday, with concerns over the Ukraine crisis sapping appetite for risk, although Portuguese stocks outperformed on mounting bets for a turnaround in the country's finances.

  • *Baosteel says iron ore prices still too high at above $100/ T. BEIJING, March 11- The recent slide in iron ore prices was "inevitable", with a price above $100 a tonne still too high, the head of China's biggest-listed steel maker Baoshan Iron& Steel said on Tuesday.

  • SINGAPORE, March 11- Chinese steel mills and traders holding iron ore as collateral for financing are rushing to sell to repay loans, traders said, piling more pressure on the steel-making raw material that has lost over a fifth of its value this year.