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Steel Producers

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  • U.S. Steel loss narrowed in third quarter Tuesday, 28 Oct 2014 | 5:22 PM ET

    Oct 28- United States Steel Corp reported a narrower third-quarter loss on Tuesday as strong demand from the auto and building industries lifted demand for its products and supported prices. The Pittsburgh- based steelmaker posted a third-quarter net loss of $207 million, or $1.42 a share, compared with a loss of $1.79 billion, or $12.38 a share, during the...

  • 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...

  • Oct 28- Shares of Cliffs Natural Resources Inc shot up as much as 25 percent after the miner said it had "more than enough" liquidity and that it was in talks with three "big steelmakers" to invest in its Bloom Lake iron ore mine in Quebec. Chief Executive Lourenco Goncalves told Reuters that Cliffs was in "active talks" with three equity partners to invest in the...

  • MOSCOW, Oct 28- The rouble weakened further on Tuesday, hitting record lows for the fifth straight day against both the dollar and the euro and increasing pressure on the central bank to take decisive action at a rate meeting later in the week. The rouble has fallen over 20 percent against the dollar this year on falling oil prices, risk aversion towards Russia...

  • DONETSK, Ukraine, Oct 24- The clanging of repairs to tanks and heavy armored vehicles rings out from a factory in eastern Ukraine that is owned by the country's richest man but was taken over by pro-Russian rebels. The steel and energy multi-billionaire is, as always, saying little but showing signs of positioning himself for all possible outcomes to the...

  • Oct 23- Nucor Corp, the No. 1 U.S. steelmaker, posted a higher quarterly profit on Thursday as the growing U.S. economy fueled demand for its products from the auto, construction, and oil and gas industries. Analysts on average expected Nucor to post a profit of 74 cents a share on sales of $5.4 billion, according to Thomson Reuters I/B/E/S. In early trading on the New York...

  • *Poland leads objections, but is not alone. The 28 member states want to set the pace for a global pact to be hammered out in Paris next year with industrial powers from Asia, North America and the rest of the world. Conflict between Ukraine and Russia, the EU's biggest energy supplier, has also focused the EU on reducing its reliance on imported fossil fuels by...

  • MOSCOW, Oct 23- Ukraine's largest steelmaker, Metinvest, has offered holders of its $500 million bond which was due to mature in May 2015 a longer-term bond to November 2017 with an increased interest rate of 10.5 percent per annum. "The Issuer expects its EBITDA and operating cash flow in the second half of 2014 will decrease as compared to the first half of 2014 and...

  • METALS-Copper pressured by strong dollar, growing supplies Wednesday, 22 Oct 2014 | 12:23 PM ET

    *China copper output up 4.9 pct in Sept, new record. *LME week industry gathering continues in London. LONDON, Oct 22- Copper prices edged lower on Wednesday, pressured by a rise in the dollar against the euro and concerns about growing supplies in the market, though prospects of fresh monetary policy measures in Europe and China limited falls.

  • METALS-Copper up on hopes for China, EU policy measures Wednesday, 22 Oct 2014 | 7:24 AM ET

    *China copper output up 4.9 pct in Sept, new record. LONDON, Oct 22- Copper edged up on Wednesday, extending the prior session's biggest one-day advance in two months, on prospects of fresh monetary policy measures in Europe and China, though signs of growing supplies limited gains. This, coupled with prospects of further policy fine-tuning in China-- the world's...

  • WASHINGTON, Oct 21- The U.S. Department of Commerce will terminate a 15- year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities. Duties will apply beginning Dec. 16, according to the letter from Ronald K. Lorentzen, the Commerce Department's deputy assistant secretary for enforcement and...

  • U.S. says to scrap trade deal on Russian steel duties Tuesday, 21 Oct 2014 | 9:26 AM ET

    WASHINGTON, Oct 21- The U.S. Department of Commerce will terminate a 15- year old deal sheltering Russian flat-rolled steel producers from potential steep duties, it said in a letter to Russian authorities published on Monday.

  • BEIJING, Oct 21- China's daily crude steel runs rose 1.3 percent in September to the highest level in three months, data from the country's statistics agency showed, suggesting mills were still close to full capacity despite weak demand and a steep slump in prices. China produced 67.54 million tonnes of crude steel in September, down 2 percent from the previous...

  • *Gulf of Oman port bids to become transhipment centre for region. Instead they can have goods delivered to a port in Oman, outside the Gulf, and bring them into the region by road. The cheeky advertisement has been posted by Sohar Port and Freezone, an ambitious facility on Oman's northern coast about 200 kilometres to the southeast of Dubai.

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • BEIJING/ SHANGHAI, Oct 16- Chinese companies are on a pace to cut capital spending by around 7 percent this year, the biggest annual reduction since the global financial crisis, deepening an economic chill. The cutbacks could persist, indicating that China's economy, which has relied heavily on investment, will need to speed up rebalancing to feed growth.

  • MUMBAI/ LONDON, Oct 15- India's Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva- based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...

  • BEIJING, Oct 15- China's consumer inflation slowed more than expected in September to a near five-year low, adding to concerns that global growth is cooling fast unless governments take bolder measures to shore up their economies. Facing mounting risks to growth and rising risks of deflation, Beijing is widely expected to continue rolling out a steady stream...

  • INTERNATIONAL TRADE COMMISSION SAYS STEEL INDUSTRY IS AT RISK FROM STEEL REBAR IMPORTS FROM MEXICO, TURKEY, CLEARING WAY FOR DUTIES.

  • LONDON, Oct 14- Copper prices rose to a two-week high on Tuesday, buoyed by confidence about the outlook for demand from top consumer China following its plans to step-up infrastructure projects. The outlook for copper, which is mainly used in the power and construction industries, brightened after a senior official at China's economic planner said the...