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Steel Producers

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  • But his first five months as the prime minister has coincided with a surge in imports of both, denting his high-decibel drive to make India an export powerhouse. India's steel imports from China, the world's biggest producer of the alloy, doubled in April-September from a year ago though the country has enough capacity to meet its demand. While India's...

  • *ArcelorMittal gains after results beat forecasts. PARIS, Nov 7- European shares lost ground on Friday as pessimism over economic growth and loan demand in Europe hit bank stocks, while mixed U.S. jobs data did little to buoy investor sentiment. Equities had staged a short-lived rally on Thursday after European Central Bank chief Mario Draghi reiterated plans...

  • LONDON, Nov 7- The price of spot iron ore has sunk to $75.50 per tonne this week, its lowest level since 2009.. It was only in April that José Carlos Martins, executive officer of ferrous and strategy at Vale, the world's largest producer of iron ore, told analysts that "one thing is for sure, the price will not go below $110 on a sustainable basis". Well, here we are with the...

  • PARIS, Nov 7- European shares rose in early trade on Friday, helped by positive corporate results from blue-chips including steelmaker ArcelorMittal as investors awaited key U.S. monthly jobs data. Shares in the world's largest steelmaker gained 3.6 percent after it reported a higher-than-expected profit in the third quarter and said improvements in its...

  • It doesn't take much of a search to find media and analyst reports that reference softness in China's steel market as one of the major reasons for Asian spot iron ore's 43- percent decline this year to a five-year low of $75.60 a tonne on Thursday. It's not just news reports, analysts have also pointed to the slowing growth of China's economy.

  • M&S and Brenntag surge as European shares bounce back Wednesday, 5 Nov 2014 | 12:44 PM ET

    *Marks& Spencer jumps after results. PARIS/ LONDON, Nov 5- European stocks rebounded on Wednesday, helped by positive company results including those from British retailer Marks& Spencer, whose shares surged nearly 10 percent higher. Marks& Spencer jumped 9.7 percent after posting a rise in underlying first-half profit for the first time in four years, beating...

  • FACTBOX-Winners and losers from weak Russian rouble Wednesday, 5 Nov 2014 | 9:13 AM ET

    Russia's exporting energy companies should benefit from a weaker rouble as they sell oil, gas and products in foreign currencies, mainly U.S. dollars, but some are also taking a hit because of large levels of debt held in foreign currencies. Rosneft, Russia's leading oil producer and the world's largest listed oil firm by output, posted 1 billion roubles in third...

  • *Marks& Spencer jumps 8.3 pct after results. British retailer Marks& Spencer surged 8.3 percent after posting a rise in underlying first-half profit for the first time in four years, beating expectations, while German chemicals distributor Brenntag gained 7.8 percent, boosted by forecast-beating earnings. About halfway into Europe's earnings season, 64...

  • Nov 4- The U.S. Labor Department said it filed a lawsuit against the fiduciaries of steelmaker Severstal Wheeling Inc for failing to properly oversee its retirement plans and causing losses of more than $7 million. The department alleged that the fiduciaries- members of Severstal Wheeling's retirement committee, Michael DiClemente and Dennis Halpin, and...

  • What I'm buying now: Dennis Gartman Monday, 3 Nov 2014 | 6:40 PM ET
    Dennis Gartman

    Three commodities are on Dennis Gartman's "buy" list.

  • *Beijing to host APEC summit Nov. 5 to 11. *Steel output in 100- km radius of Beijing to be halted. BEIJING, Oct 31- Chinese steel mills, among the biggest in the world, are altering their production schedules to offset disruption from forced plant closures aimed at curbing choking air pollution during a summit of world leaders in Beijing next month.

  • UPDATE 3-Vale posts surprise loss, shares dive Thursday, 30 Oct 2014 | 12:41 PM ET

    RIO DE JANEIRO, Oct 30- Vale posted a surprise $1.44 billion loss, and its shares tumbled to a 5-1/ 2- year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron ore prices. Vale SA cited low iron ore prices and a weak local currency for the third-quarter loss. Vale is attempting to...

  • *Accidents at Nagoya plant cut FY2014 profit by Y24 bln. TOKYO, Oct 30- Nippon Steel& Sumitomo Metal Corp, Japan's biggest steelmaker, said on Thursday its first-half recurring profit rose 1.5 percent as lower material costs boosted margins and offset appraisal losses on its high-priced stockpiles. But we are keeping our full-year forecast as accidents at the...

  • RIO DE JANEIRO, Oct 29- Wednesday's earnings conference call for Brazilian steelmaker Usiminas was most notable for the absence of any comments or questions on perhaps the biggest issues currently facing the company. The dispute between controlling shareholders and who would lead the company were not mentioned on the call, neither by analysts nor by...

  • METALS-Higher stocks pull nickel back from two-week peak Wednesday, 29 Oct 2014 | 12:25 PM ET

    *Copper dips on caution ahead of Fed meeting. LONDON, Oct 29- Nickel hit two-week highs on Wednesday on concern about declining ore stocks in China but later pared gains as rising inventories showed metal was still available. Three-month nickel on the London Metal Exchange rose 2.3 percent on Wednesday to a session peak of $15,900 a tonne, the strongest since Oct....

  • METALS-Ample supply pulls Nickel back from two-week peak Wednesday, 29 Oct 2014 | 9:19 AM ET

    *Copper dips on caution ahead of Fed meeting. LONDON, Oct 29- Nickel hit two-week highs on Wednesday on concern about declining ore stocks in China but gave up the gains as rising inventories showed metal was still available. "Stock depletion in China at one point or another is going to hamper the ability of China to deliver, and when that becomes apparent, you're...

  • *Copper dips on caution ahead of Fed meeting. LONDON, Oct 29- Nickel hit two-week highs on Wednesday on concern about declining ore stocks in China but gave up the gains as rising inventories showed metal was still available. "Stock depletion in China at one point or another is going to hamper the ability of China to deliver, and when that becomes apparent, you're...

  • SYDNEY, Oct 29- London nickel jumped on Wednesday, adding to a 5 percent gain in the previous session, as worries about declining ore stocks in China set off a buying spree that traders said included purchases by consumers. Nickel was this year's stellar pick for investors after a ban on Indonesian ore exports threatened to starve China's stainless steel mills of...

  • TOKYO/ SINGAPORE, Oct 29- China has boosted exports of steel qualifying for a generous tax exemption to some Asian countries, triggering accusations that mills in the world's biggest producer are taking advantage of the rebate to sell surplus steel cheaply. The steel in question contains boron, an element that can harden steel for uses ranging from...

  • SYDNEY, Oct 29- London nickel added a further 2 percent on Wednesday to 5- percent gains the session before, as worries about declining ore stocks in China set off a buying spree that traders said included purchases by consumers. *Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and...