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Steel Producers

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  • UPDATE 1-China to cut steel exports in 2015 - CISA Monday, 6 Oct 2014 | 10:14 AM ET

    MOSCOW, Oct 6- China will likely decrease steel exports in 2015 following the cancellation this year of export incentives such as tax rebates, a China Iron Ore and Steel Association official told Reuters on Monday. Next year we forecast that the Chinese exports will decrease compared with this year, "Chi Jingdong, deputy secretary general of CISA told Reuters at...

  • LONDON/ MELBOURNE, Oct 6- BHP Billiton aims to cut its iron ore production costs by more than 25 percent and squeeze more tonnes from its mines as it aims to overtake rival Rio Tinto as the world's cheapest producer, the world's largest miner said on Monday. The focus of mining companies has shifted towards cost cutting as iron ore prices have dropped from about $190...

  • *Iran steel exports surge to 1.26 mln T from Jan- July 2014. *Foreign firms line up to tap Iran steel sector- Tehran. LONDON/ MOSCOW, Oct 5- Iran is increasing steel exports and courting foreign investors in an ambitious bid to quadruple steel output in a decade and replace at least a small part of the massive revenue it loses due to sanctions on its oil sales.

  • *Financing fraud at Qingdao port delaying expected nickel deficit. *China exports more than 50,000 T nickel in June-Aug. SYDNEY, Oct 3- A commodity fraud at China's Qingdao port has hit bank financing of metal deals, sparking a surprise jump in nickel exports and pushing back expectations of a global supply shortage of the metal used mainly in stainless steel.

  • MOSCOW, Oct 1- Russia's VTB Bank, one of the country's largest, will drop a lawsuit against debt-laden coal and steel producer Mechel if an agreement over its debt is reached, Andrei Kostin, the head of VTB, said on Wednesday.

  • MOSCOW, Oct 1- Russia's Gazprombank does not rule out filing a lawsuit against debt-laden coal and steel producer Mechel, Interfax news agency quoted the lender's head, Andrei Akimov, as saying on Wednesday. Mechel wants its main creditor banks- VTB, Sberbank and Gazprombank- to restructure its debt.

  • Shares jumped after Andrei Kostin, the head of Russia's VTB Bank, said the lender was "not afraid" of investing in Mechel.

  • Russian bank VTB says "not afraid" to invest in Mechel Wednesday, 1 Oct 2014 | 3:33 AM ET

    MOSCOW, Oct 1- Andrei Kostin, the head of VTB Bank, one of Russia's largest, said on Wednesday the lender was "not afraid" of investing into debt-laden coal and steel producer Mechel. He also said he was sure that Russian banks would find the necessary funds to service Mechel's $1 billion borrowed from a syndicate of Western banks.

  • BEIJING, Oct 1- Growth in China's manufacturing sector held up in September but remained subdued in a sign that the world's second-largest economy is still struggling to recover its growth momentum.

  • MOSCOW, Sept 29- Evraz North America, the U.S. unit of Russian steelmaker Evraz, wants to raise about $400 million from an initial public offering of between 25 percent and 35 percent of its shares, two banking sources in Moscow said on Monday.

  • MOSCOW, Sept 29- Evraz North America, the U.S. unit of Russian steelmaker Evraz, wants to raise about $400 million from an initial public offering of between 25 percent and 35 percent of its shares, two banking sources in Moscow said on Monday.

  • UNIT OF RUSSIAN STEELMAKER EVRAZ WANTS TO RAISE ABOUT $400 MLN FROM IPO OF 25-30 PCT OF ITS SHARES- BANKING SOURCES IN MOSCOW.

  • LONDON, Sept 29- Copper prices fell to their lowest level in almost three months on Monday, weighed down by a sharp rise in the dollar and uncertainty about the outlook for growth in China, its top consumer.

  • SYDNEY, Sept 29- London copper slipped to its lowest in more than three months on Monday, pressured by a stronger dollar and questions over economic growth in top metals user China.

  • SYDNEY, Sept 29- London copper slipped to its lowest in more than three months on Monday, pressured by a stronger dollar and questions over economic growth in top metals user China.

  • UPDATE 1-Steelmaker Evraz's U.S. unit files for IPO Friday, 26 Sep 2014 | 1:05 PM ET

    Sept 26- Evraz North America Ltd, the U.S. unit of Russia's largest steelmaker Evraz Plc, filed with U.S. regulators in an initial public offering of ordinary shares.

  • Steelmaker Evraz's U.S. unit files for IPO Friday, 26 Sep 2014 | 12:29 PM ET

    Sept 26- Evraz North America Ltd, the U.S. unit of Russia's largest steelmaker Evraz Plc, filed with U.S. regulators in an initial public offering of ordinary shares. Citigroup and Goldman Sachs& Co were underwriting the IPO, the company told the U. S Securities and Exchange Commission in a preliminary prospectus on Friday.

  • RIO DE JANEIRO, Sept 26- Brazilian steelmaker Usiminas said on Friday its board had dismissed Chief Executive Julian Eguren in a divided vote, as two controlling stakeholders clashed over the appointment of senior managers in the firm.

  • DALIAN, China Sept 25- China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

  • -Clyde Russell is a Reuters columnist. Again, that price level hasn't been clearly spelt out, but I would imagine the big three have a number in mind somewhere above $90 a tonne, with $110 likely viewed as a ceiling.