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Steel Producers

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  • After 125 years, Alcoa looks beyond aluminum Thursday, 26 Jun 2014 | 6:39 PM ET

    June 26- Alcoa Inc, the company that helped create the aluminum industry more than a century ago, is reinventing itself as a manufacturer of specialized components for aerospace and automotive customers, including some that contain no aluminum at all.

  • UPDATE 2-Alcoa to buy aerospace company Firth Rixson Thursday, 26 Jun 2014 | 9:34 AM ET

    June 26- Aluminum group Alcoa Inc expanded its aerospace business and took a step away from the light metal on Thursday, announcing a $2.85 billion deal to buy a company that makes jet engine parts, largely out of nickel-based alloys and titanium.

  • BRUSSELS, June 26- The European Commission has launched an investigation into Chinese and Taiwanese stainless steel makers after a complaint from European rivals who say they are exporting at unfairly low prices.

  • *Growing supply may help China gain upper hand in pricing. SHANGHAI, June 26- Brazil's Vale, the world's biggest iron ore miner, is starting to offer discounts on shipments of the steelmaking raw material to top consumer China, joining Australian rivals in cutting prices following a global surge in production.

  • SYDNEY, June 24- BHP Billiton is looking at more job cuts at its flagship Australian iron ore division as a way to reduce costs, as ore prices slump and pressure mounts to rein in spending.

  • SYDNEY, June 24- BHP Billiton is planning to cut more jobs at its flagship Australian iron ore division as it seeks to reduce costs, following a slump in iron prices. A BHP spokeswoman said it was not possible to put a number on how many jobs would be targeted, and declined to confirm an Australian Broadcasting Corp radio report that the number could reach 3,000..

  • LAUNCESTON, Australia, June 23- The brouhaha over suspected metal financing fraud at China's Qingdao port is likely to cause short-term angst, but longer-term gains.

  • 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.

  • METALS-Copper firms on China stimulus outlook Tuesday, 17 Jun 2014 | 3:58 AM ET

    *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.

  • METALS-Copper climbs on China stimulus outlook Monday, 16 Jun 2014 | 10:50 PM ET

    *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.