WEST CHESTER, Ohio— AK Steel Holding Corp. on Tuesday reported a smaller loss in its second quarter, and topped analysts' expectations. The West Chester, Ohio- based company posted a loss of $17.1 million, or 13 cents per share, compared with a loss of $40.4 million, or 30 cents per share, in the same quarter a year earlier.» Read More
Nucor forecast earnings between 35 cents and 40 cents a share, up from 27 cents a share a year earlier. The plant started production in December, and volume has been better than expected but yield needs work, Nucor said. Made from iron ore, direct reduced iron is a raw material used to make steel, and a substitute for scrap, Nucor's traditional feedstock.
LONDON, June 20- Global crude steel production rose at an annual 2.2 percent rate in May as output in China hit new record levels and North American and European mills cranked up production, industry data showed, pressuring prices the world over.
*Hyundai swaps aluminium hood with steel for new Genesis. SEOUL, June 20- About four years ago, Hyundai Motor considered shifting from steel to aluminium body parts for its Genesis sedan to make it lighter, more fuel-efficient and more competitive with German luxury marques, two people familiar with the matter said.
STAVROPOL, Russia, June 19- The Russian government is in talks with state banks on providing 180 billion roubles as part of a restructuring package for indebted coal producer and steelmaker Mechel, Economy Minister Alexei Ulyukayev said on Thursday.
WASHINGTON/ NEW YORK, June 17- The U.S. steel industry is considering challenging a trade deal with Russia that governs imports of hot-rolled steel, potentially reviving a decades-old dispute amid mounting tensions over Russia's actions in Ukraine, two sources said.
STEEL INDUSTRY CONSIDERS CHALLENGING SUSPENSION AGREEMENT ON ANTIDUMPING DUTIES ON RUSSIAN HOT-ROLLED STEEL IMPORTS- SOURCES.
NEW YORK, June 17- The Italian government has asked ArcelorMittal SA to consider investing in or buying troubled Italian steel producer Ilva, the chief executive officer of the world's largest steelmaker said on Tuesday.
*Shanghai copper premiums slip by $2.50 to $65- $85. SYDNEY, June 17- London copper steadied on Tuesday after China's leaders reaffirmed a 7.5 percent economic growth target this year, with prospects of further stimulus lifting Shanghai copper to its highest in more than a week.
--Clyde Russell is a Reuters columnist. For almost three decades after he lost to Ronald Reagan, the United States found itself consuming more imported oil, coupled with a declining trend in domestic crude and natural gas output.
*Iraq tensions underpin oil, metals prices. SYDNEY, June 17- London copper was a touch firmer on Tuesday after China's leaders reaffirmed a 7.5 percent economic growth target this year, with prospects of further stimulus lifting Shanghai copper to its highest in more than a week.
Loudi, CHINA, June 15- ArcelorMittal, the world's top steelmaker, said on Sunday it would use its Chinese joint venture to tap into the country's fast-growing car market, helping offset slackening steel demand on the back of a slowing economy.
SHANGHAI, June 13- China's crude steel output hit a record of 70.43 million tonnes in May, up 2.6 percent from a year ago, government data showed on Friday, as steel mills in the world's biggest producer looked to meet strong demand.
*Kazakhstan seeking to diversify economy. BOROVOYE, Kazakhstan, June 12- Kazakhstan will suspend corporate and land tax for 10 years for foreign investors setting up businesses outside its oil industry in new incentives meant to diversify the economy, President Nursultan Nazarbayev said on Thursday.
Still, prices of the alloy are not far off their lowest level in four years, constrained primarily by a 30 percent price decline in raw materials such as iron ore, but also by plentiful supplies in Europe.
SHANGHAI, June 8- China's imports of major commodities fell in May from the previous month, official customs data showed on Sunday, as companies scaled back on orders after robust shipments in the previous months caused a supply overhang. High stocks and a poor import arbitrage also kept buyers away, "said Lian Zheng, a base metals analyst at Xinhu Futures.
SHANGHAI, June 8- China's imports of major commodities fell in May from the previous month, customs data showed on Sunday, as companies scaled back on orders after robust shipments in the previous months caused a supply overhang. China, the world's largest energy consumer, imported 26.08 million tonnes, or 6.14 million barrels per day of crude oil in May.
However, Andrew Mackenzie said that despite the iron ore market facing temporary overcapacity, there was enough demand coming back from China and elsewhere to justify the firm's capacity increase.
**Pilgrim's Pride Corp, the second largest U.S. chicken processor, raised its offer for Hillshire Brands Co, escalating a bidding war with Tyson Foods Inc for the maker of Jimmy Dean sausages. **Germany's Siemens said on Tuesday it called off the sale of its baggage handling and postal automation business.
SYDNEY/ MELBOURNE, May 29- The Australian government cleared on Thursday a $1 billion bid by Chinese state-owned Baosteel Resources for iron ore miner Aquila Resources Ltd, removing the only regulatory hurdle to the deal.
SYDNEY, May 28- London copper steadied on Wednesday after hitting a near three-month peak the previous day with prices supported by improving demand in top consumer China, while London nickel firmed as unrest at a New Caledonian mine kept supply threats in focus.