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Steel Producers

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  • MOSCOW, March 19- Russian steelmaker MMK reported its highest core earnings since 2009 on Thursday, helped by a weaker rouble, which cut its costs in dollar-terms in 2014 and is expected to reduce them further in 2015.. MMK, controlled by businessman Viktor Rashnikov, joins other Russian exporters who have benefitted from a 43- percent decline in the rouble...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, March 19- It's become conventional wisdom that the commodities boom is over, and while the era of rising prices is gone, figures from the Australian government suggest the surge in volumes is well under way. Australia is the world's top shipper of iron ore and metallurgical coal, number two in thermal...

  • SYDNEY/ NEW YORK, March 18- Australia's Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, pulled a $2.5 billion high-yield bond issue after investors rattled by tumbling ore prices balked at the offer, sending its shares to six-year lows. The scrapped refinancing deal is the latest sign of anxiety about massive oversupply in the iron ore...

  • LONDON, March 17- A 15 percent rally in European shares this year has driven valuations to seven-year highs, leading investors to seek whatever bargains are left in distressed sectors such as banks and mining. The rally, fuelled by the European Central Bank's asset-purchase progamme, has pushed the average price-to-book multiple on the STOXX Europe 600 index...

  • *Europe's manufacturing center shifts to Germany and hinterland. *UK, France, Spain and Italy seen losing industrial capacity. BRUSSELS, March 15- Once depicted as a "Blue Banana" stretching from Manchester to Milan, Europe's industrial heartland has moved eastwards just as its political center of gravity has shifted to Germany.

  • HOUSTON, March 16- A tentative national agreement to end a six-week strike at twelve U.S. refineries has struggled to win ratification at eight plants as workers and companies struggle to settle local issues, according to union officials. The deal reached on Thursday by the United Steelworkers and lead industry negotiator Royal Dutch Shell Plc to end the...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, March 13- Is China's President Xi Jinping walking in the footsteps of Margaret Thatcher, and if so, how far is prepared to go down the path of the former British leader? Xi is trying to shift China to a consumption-led growth model, and away from the heavy industries that, similar to Britain a century and half...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, the labor group and people familiar with the negotiations said on Thursday. "We salute the solidarity exhibited by our membership," said USW International President Leo Gerard. Lead industry negotiator Royal Dutch...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, sources familiar with the negotiations for a new labor accord said on Thursday. The tentative national agreement may not end strikes at all 12 refineries that have suffered walkouts as issues unique to local union...

  • SAO PAULO, March 12- Brazilian steelmaker Cia Siderurgica Nacional SA expects to double its sales on the U.S. market in 2015 to 600,000 tonnes with the help of a stronger dollar, the company's head of sales said on Thursday. Brazil's currency, the real, has weakened nearly 17 percent against the dollar so far in 2015 and is trading near 11- year lows.

  • HOUSTON, March 11- The United Steelworkers union signaled that lead refinery owner representative Shell Oil Co may offer a possible settlement in the coming days that could end the largest refinery strike in 35 years. "Policy committee traveling to Houston to review any proposals. The national agreement being negotiated by the USW and Shell Oil, the U.S. arm of...

  • *EU, Indonesia, India, Turkey have imposed duties in 2015. This year alone, measures taken to protect steelmakers have been taken in the European Union, Indonesia, India, Turkey, and now Iran. "A steel import tax has been imposed... to protect local steel mills against dumping of China, Russia and Turkey," said Keyvan Ja' fari Tehrani, head of international affairs at the...

  • LONDON, March 11- Ukrainian miner Ferrexpo said higher iron ore pellet premiums and lower production costs helped offset a steep fall in iron ore prices and limit the fall in its annual core profit to just 2 percent. Benchmark iron ore prices fell 28 percent last year due to a supply glut and Ferrexpo said it expects 2015 prices to be "materially below" last year's...

  • ALMATY, March 11- Kazakh President Nursultan Nazarbayev said on Wednesday he will seek re-election in a snap poll next month, which will almost certainly see him extend his 26 years at the helm of the oil-exporting nation by another five. The authoritarian leader's decision to run in the election on April 26 will for now end speculation over his would-be...

  • --Clyde Russell is a Reuters columnist. Steel industry officials in China, the destination of two-thirds of the world's seaborne iron ore, will also tell you how their industry suffers from overcapacity, poor profits and the economy's shift to consumption-led growth. The big three miners, Brazil's Vale, BHP Billiton and Rio Tinto, along with number four, Fortescue...

  • China's Jan-Feb crude steel output falls 1.5 pct on year Wednesday, 11 Mar 2015 | 1:36 AM ET

    SHANGHAI, March 11- China's crude steel output dropped 1.5 percent to 130.5 million tonnes for the first two months of this year, data from the National Bureau of Statistics showed on Wednesday, as a supply glut and slower demand growth forced mills to curb output.

  • PERTH, Australia, March 10- Citi on Tuesday forecast iron ore prices would drop to around $50 a tonne in the short term as demand from Chinese steel mills wanes and oversupply grips the international seaborne markets. "Chances are with the steel margins where they are, there will be a fall in iron ore prices to around $50 a tonne," Citi iron ore and steel trading head...

  • LONDON, March 9- China will be the key determinant of industrial metal prices this year. In the aluminium market, for instance, what China imports from the rest of the world is far less significant for prices than what it exports. Copper is arguably the last of the base metals in which China is still an unequivocal importer.

  • *Coal imports 15.26 mln t, down 9 pct vs Jan, down 33 pct on yr. *Copper imports 280,000 t, down 26 pct on yr. BEIJING, March 8- China's imports of commodities eased again in February, as the Lunar New Year holiday week took a bite out of shipping volumes, preliminary customs data showed on Sunday.

  • *$35 bln poured into Europe stocks, bonds since QE unveiled. PARIS, March 6- European stocks ended slightly higher on Friday, with shares in stainless steel producers surging after news the European Union was set to impose anti-dumping duties on imports from China and Taiwan. Finland's Outokumpu jumped 18 percent, Spain's Acerinox gained 6 percent and...