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Steel Producers

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  • China May steel output down 1.7 pct yr/yr -stats bureau Thursday, 11 Jun 2015 | 1:46 AM ET

    SHANGHAI, June 11- China's crude steel output fell 1.7 pct to 69.95 million tonnes in May from a year earlier, data from the National Statistical Bureau showed on Thursday.

  • SINGAPORE, June 10- Iron ore held at its highest level in nearly four months on Wednesday as stocks at China's ports dropped for the eighth consecutive week, helping entrench a recent recovery in prices. Futures of the steel-making commodity in Singapore and China jumped on Wednesday, with iron ore in Dalian hitting its highest since March.

  • MOSCOW, June 8- Russian steel producer MMK said on Monday first quarter revenue had fallen 19.6 percent year-on-year to $1.5 billion largely because of the rouble devaluation, and that net profit reached $196 million. The company, controlled by businessman Viktor Rashnikov, said its EBIDTA- earnings before interest, taxation, depreciation and amortisation-...

  • *Trade surplus $59.49 bln, vs f'cast $44.95 bln. BEIJING, June 8- A bigger-than-expected slide in China's imports in May strengthened expectations more policy stimulus may be needed to avert a sharp slowdown in the world's second-largest economy. We expect trade conditions to continue to be sluggish in the following 4-5 months, with more government policy...

  • NEW DELHI, June 6- India's finance ministry has imposed anti-dumping duties ranging from $180 to $316 per tonne for some industrial-grade stainless steel imported from China, Malaysia and South Korea in a bid to stem surging imports and protect the domestic industry. India consumes about 1 million tonne of this type of stainless steel and more than 40 percent...

  • LONDON, June 5- Markets do not move in straight lines. IO62-CNI= SI> fell relentlessly over the second half of 2014 and first quarter of 2015 to hit a low of $46.70 per tonne at the end of April. It has since bounced back to a current $63.50, lifting some of the pervasive gloom that had enveloped the industry and causing at least some analysts to rein in their previous...

  • MOSCOW, June 4- Russian steelmaker Evraz said on Thursday it had temporarily halted work at its North American Pueblo production plant due to weaker demand. Evraz and other steelmakers which produce metal pipes for the oil and gas industry have been hit by a 40 percent drop in oil prices since June last year. The Denver Post newspaper reported in January that...

  • *Singapore Exchange volumes to reach 1 billion tonnes this year. VIENNA, June 3- The derivatives market for iron ore is reaching a tipping point in its strong growth as steel consumers pile in, with contracts traded outside China expected to reach around a billion tonnes this year. Iron ore derivatives traded on the Singapore Exchange have roughly doubled in...

  • LAUNCESTON, Australia, June 3- How well is the plan by big iron ore miners to displace high-cost iron ore from the seaborne and Chinese domestic markets going? Certainly Chinese trade numbers show that Australia in particular has increased market share in iron ore imports, but the momentum may be stalling. In the first four months of the year, Chinese imports of the...

  • CONCEIÇÃO DO MATO DENTRO, Brazil, June 1- A giant truck carries chunks of sparkling mountainside to a web of yellow conveyor belts at a huge mine in eastern Brazil, a few more hundred tonnes of iron ore that are good for its owner Anglo American but bad for a battered global market. "We'll be competitive wherever the price is," Paulo Castellari, the iron ore head for...

  • *Tata says seeking to tackle $2 bln pension deficit. LONDON, May 29- Tata Steel UK's biggest trade union voted on Friday to go on strike, setting the scene for the biggest labour action in the British steel sector in three decades. "Steelworkers are determined to stand up to Tata," said Roy Rickhuss, general secretary of Community.

  • LONDON, May 29- Tata Steel UK's biggest trade union voted on Friday to go on strike, setting the scene for the biggest labour action in the British steel sector in three decades. Tata Steel did not have any immediate comment about the vote, but previously has said that its actions were aimed at developing an affordable and sustainable pension scheme through...

  • SINGAPORE, May 27- India-focused Vedanta Resources Plc will aim to lift a court-imposed cap on its iron ore output in the country's top state for exporting the commodity, as it prepares to resume mining there in October after a three-year lull. A mining ban that had been in place in the state of Goa since September 2012 was lifted last year, but the resumption of...

  • KIEV, May 24- Shelling by Russian-backed separatists killed at least two people-- one civilian and one Ukrainian serviceman-- in Ukraine at the weekend and halted production at one of Europe's largest coke plants, the police and military said. The weekend attacks put fresh strain on a tenuous ceasefire which has been regularly violated since it was brokered by the...

  • KIEV, May 24- Heavy shelling has killed one civilian in the government-controlled town of Avdiyivka in east Ukraine and halted production at one of Europe's largest coke plants, regional police and Ukrainian steelmaker Metinvest said on Sunday. The Avdiyivka factory, which is owned by Metinvest and produces 40 percent of Ukraine's coke, is the main employer in...

  • KIEV, May 24- Ukraine steelmaker Metinvest said on Sunday it has halted production at its Avdiyivka facility in eastern Ukraine, one of Europe's biggest coke plants, after heavy shelling caused major damage. Avdiyivka produces 40 percent of Ukraine's coke and any production outages will threaten output at the country's steel plants, including two of the...

  • LONDON, May 22- U.S. Steel Corp said it is close to filing several anti-dumping complaints with U.S. authorities, adding it is still having to consider idling more plants because of difficult market conditions. The Pittsburgh- based company has idled plants in Indiana, Illinois, Alabama, Texas, Ohio and Arkansas this year. It's no longer a matter of if we're going to...

  • Not getting the proper policies for US growth: CEO Friday, 22 May 2015 | 5:20 AM ET
    Not getting the proper policies for US growth: CEO

    Mario Longhi, CEO of United States Steel, says that it's a "give and take" when it comes to the US economic outlook.

  • It's also the prize being sought by Charles Li, the chief executive of Hong Kong Exchanges and Clearing, which bought the venerable London Metal Exchange. This is particularly attractive for global investors not big enough to justify the costs and risks involved in establishing a legal entity in China in order to be allowed to trade there.

  • MUMBAI, May 20- India's Tata Steel Ltd said it expected a rebound in steel demand in its home market but another difficult year in Europe, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with a net profit of 10.36...