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Steel Producers

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  • *China investment growth rate sinks. LONDON, May 13- Copper fell on Wednesday as weak economic data from top consumer China dominated sentiment, but expectations of further monetary and fiscal stimulus helped limit losses. Fixed-asset investment is a crucial driver of growth in China.

  • *Electrical steel from China, Japan, Korea, Russia, U.S. BRUSSELS, May 13- The European Union will impose anti-dumping duties from Thursday on imports of a grade of electrical steel from China, Japan, Russia, South Korea and the United States, its second set of measures this year to protect European steel producers. Duties of 28.7 percent will cover imports from...

  • *Iron ore seen at average $56/ T in 2015, $58 in 2016. Prices for the steel-making ingredient have rebounded more than a third since touching a decade-low of $46.70 a tonne in April, a sharp rally that could be curbed as top Australian and Brazilian miners stick to plans to boost output even as China's demand-growth slows. Benchmark 62- percent grade iron ore will...

  • *China bonded aluminium premiums drop $15 to $230. MELBOURNE, May 12- London copper climbed on Tuesday as the dollar came back off its highs, while investors looked to the second half of the year for a boost to metals demand in China following the latest interest rate cut. A slowdown in China's property sector, a major consumer of metals, has hurt copper demand but...

  • May 12- The United Steelworkers union has rejected a pay deal from Century Aluminum for workers at the fourth-largest aluminium smelter in the United States, the local branch said on Tuesday, and a lockout is now set to go ahead. Unionised workers at the Century Aluminum smelter in Hawesville, Kentucky, had voted on Monday on the revised labour deal after...

  • HOUSTON, May 11- Striking workers at BP Plc's Whiting, Indiana, refinery ratified a new four-year contract on Monday, formally ending a three-month work stoppage, said the president of the United Steelworkers local chapter representing the hourly employees. The workers are scheduled to begin returning to work on May 18 in staggered groups, said USW Local 7 -1...

  • China's state firms cool on new derivatives power Monday, 11 May 2015 | 5:00 PM ET

    *China lets about 100 more firms trade overseas derivatives. HONG KONG/ BEIJING, May 12- Chastened by several high-profile calamities in the recent past, many of the state companies China has freed to trade overseas derivatives will be sitting on their hands, put off by the risks or a lack of expertise. Last week China's State-owned Assets Supervision and...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 11- China's efforts to re-energise its economy through interest rate cuts are probably not enough to give much of a boost to commodity import demand, but oddly enough may act to boost some commodity exports. However, for China's commodity demand to rise in any meaningful way, it's likely that fiscal...

  • Strong U.S. dollar pressures jobs at exporters Friday, 8 May 2015 | 10:28 AM ET

    The appreciation in the currency weighed on first quarter profits across corporate America, including at soft drink giant PepsiCo Inc and toothpaste producer Colgate-Palmolive. Steel, the rise in the value of the dollar reduced profits from its sales to Europe, while also making steel from South Korea more competitive abroad, helping to force layoffs of...

  • LAUNCESTON, Australia, May 8- If the state of China's economy was to be judged solely on the strength of imports of major commodities, it would be a reasonable conclusion that things were pretty much fine. But look a little further into the figures and concerns start to arise, perhaps not to the extent that China's economy is in deep trouble, but enough to suggest...

  • METALS-London copper drifts ahead of U.S. jobs report Thursday, 7 May 2015 | 8:58 PM ET

    MELBOURNE, May 8- London copper slipped on Friday, weighed by a stronger dollar and worries over consumption in top metals consumer China, and as traders took risk off the table ahead of a major U.S. jobs report. *The most-traded July copper contract on the Shanghai Futures Exchange eased 0.1 percent to 45830 yuan a tonne. *Century Aluminum rejected a...

  • *Rio defies critics of its China steel demand forecast. "With iron ore now trading around $60 a tonne delivered into China, we have more to do to ensure that we maintain the margin between ourselves and other producers," Chief Executive Sam Walsh said at the global miner's Australian annual meeting. Rio Tinto and rivals Vale and BHP have ramped up output over the past...

  • Trade has to be done under rule of law: US Steel CEO

    Mario Longhi, U.S. Steel CEO, discusses his company's growth strategy, despite energy, and strong U.S. dollar headwinds, and foreign "dumping," Also Longhi discusses US Steel's "Carnegie way" transformation plan.

  • U.S. steel companies want Russian trade deal axed Tuesday, 5 May 2015 | 10:42 PM ET

    WASHINGTON, May 5- U.S. steel producers on Tuesday demanded the Department of Commerce scrap a trade deal sparing Russian producers of carbon steel plate from import duties. Nucor Corp, SSAB Enterprises LLC and Arcelor Mittal USA said a flood of cheap cut-to-length carbon steel plate was hurting the local industry. Last week, Nucor and SSAB Enterprises launched...

  • NEWCASTLE, South Africa, May 5- ArcelorMittal's South African unit will cut second-quarter production by 6 percent at its Newcastle plant due to slack demand from its domestic market, it said on Tuesday. The plant is ArcelorMittal's third-largest in South Africa by output. President Jacob Zuma's government announced plans three years ago to invest $95...

  • BRASILIA, May 4- Industrial output in Brazil probably fell in March for a second straight month on falling auto and steel production, increasing expectations that Latin America's largest economy will tumble into a recession. Brazil's economy, hurt by a combination of high inflation, rising interest rates and tighter government spending, is expected to shrink...

  • MELBOURNE, April 30- London nickel rallied 3 percent on Thursday, echoing gains in Shanghai, as buyers rushed into the contract on pent up supply worries, forcing a flurry of short-covering ahead of a long weekend. London nickel has defied long held expectations of a deficit, slumping to six-year lows mid-month, as China's vast stainless steel industry has bought...

  • Don't buy U.S. Steel: Trader   Tuesday, 28 Apr 2015 | 5:30 PM ET
    Don't buy U.S. Steel: Trader

    "Fast Money" trader Brian Kelly thinks investors should get out of U.S. Steel after the company cut its 2015 guidance.

  • LONDON, April 28- A jump in stainless steel output in top producer China drove global production to another record high last year, outstripping demand growth and weighing on prices, an industry report showed on Tuesday. China, which produces about half the world's stainless steel, saw output jump 14 percent year-on-year to 21.7 million tonnes, while the Americas...

  • LAUNCESTON, Australia, April 28- China's import volumes of iron ore and coking coal are looking increasingly disconnected despite the price of both steel-making ingredients tumbling. Chinese iron ore miners are struggling to compete with imports in the wake of collapse in the spot Asian price from above $190 a tonne in February 2011 to a record low of $46.70 on...