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Steel Producers

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  • SAO PAULO, May 18- Brazilian steelmaker Usiminas will turn off two of its furnaces to reduce pig iron production by 120,000 tonnes per month and adapt the operation to lower demand in the steel market, the company said on Monday.

  • *Mining's biggest listing since Glencore in 2011. SYDNEY, May 18- BHP Billiton's spin-off South32 began trading with a market value of about $9 billion on Monday, a third below the highest forecasts and underlining investor nerves about the outlook for the battered mining sector. The cautious response to mining's biggest listing since Glencore Plc in 2011...

  • Last month, solar producer Baoding Tianwei Baobian Electric became China's first ever state-owned company to default on a bond coupon payment, showing Beijing's increasing willingness to let companies go bust in a bid to reform its corporate market. Although onshore and offshore bondholders have equal standing in China's bankruptcy law, lawyers and...

  • --Clyde Russell is a Reuters columnist. SINGAPORE, May 15- Any inquiry into the collapse of iron ore prices by the Australian Senate is likely to provide a great opportunity for political point-scoring for a domestic audience, but won't address the main issue. If any inquiry did go ahead, it would provide a platform for Andrew Forrest, the chief executive of No.4 iron...

  • *Iron ore price fall hits West African mines. PEPEL, Sierra Leone, May 14- Red piles of iron ore and rusting railway wagons in the deserted stockyard at the port of Pepel bear silent witness to a crisis engulfing Sierra Leone's mining industry and threatening others across West Africa. In Pepel, locals anticipated an economic surge for their civil war-ravaged...

  • *Europe bourses in 2015: http://link.reuters.com/pap87v. LONDON/ EDINBURGH, May 14- European shares rose on Thursday, helped by a rally in steel company stocks after a report that the European Commission had opened an anti-dumping inquiry into imports of cold rolled steel from Russia and China. The European Commission has set tariffs on imports of...

  • China shares supported by telecoms, Hong Kong mixed Thursday, 14 May 2015 | 1:05 AM ET

    SHANGHAI, May 14- Telecom stocks in China rose on Thursday after Beijing said it planned to accelerate development of high speed broadband networks, while heavy industries slipped on further evidence of slowing economic momentum. China's money supply grew at its slowest pace on record and investment growth sank to its lowest in nearly 15 years, data for April...

  • SINGAPORE, May 14- China's steel consumption will likely fall 6 percent this year, an industry official from the country said on Thursday, underlining how a slowdown in the world's No. 2 economy will continue to hurt industrial demand. "This year it will continue to be negative growth, minus 6 percent," Wang Liqun, vice chairman of the China Iron and Steel Association,...

  • MELBOURNE, May 14- London copper was steady on Thursday, underpinned by a weaker U.S. dollar after fresh evidence of a soft patch in the world's top economy and by expectations that Beijing would step up stimulus to revive growth. An expected shortfall in nickel ore supplies to China's stainless steel makers is seen underpinning Chinese nickel demand, after...

  • *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...