Steel Producers
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HONG KONG, April 2- Hong Kong shares ended a choppy Tuesday slightly higher as markets reopened after the long Easter break, buoyed by gains in index heavyweight HSBC Holdings that outweighed weakness in the Chinese banking sector. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.8 percent.
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HONG KONG, April 2- Hong Kong shares were flat on Tuesday as markets reopened after a break for Easter, weighed down by lingering weakness in the mainland Chinese market and underwhelming U.S. data. At midday, the Hang Seng Index was up less than 0.1 percent, while the China Enterprises Index of the top Chinese listings in Hong Kong was down 0.8 percent.
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NEW YORK, March 28- Metals trader and miner Psons, owned by Indian entrepreneur Pradeep Agarwal, has opened a subsidiary in Switzerland, to grow its iron ore business and look for new mining investment opportunities, a company executive said on Thursday.
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*Without traders, China mills face greater cashflow risk. SINGAPORE, March 28- Burdened with massive stockpiles of steel and slowing demand growth, some loss-making Chinese traders have asked mills for rebates on metal that has fallen in value since they bought it.
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SINGAPORE, March 27- London copper edged up on Wednesday as promising U.S. data injected some optimism about demand for industrial metals, but still modest buying in top consumer China and euro zone bank run worries kept a lid on gains. The outlook has been further muddied as Cyprus- driven sovereign debt worries hang over the euro zone.
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FRANKFURT/ VIENNA, March 26- When Wolfgang Eder and his team started looking around for a site for a new plant for Voestalpine, the Austrian steelmaker he heads, they had 17 sites in eight countries on their list.
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*China to boost domestic iron ore output by 20 mln T in 2013. Global miners Vale of Brazil, as well as Australia's BHP Billiton and Rio Tinto, have banked on sustained increases in iron ore demand from China to justify massive expansion plans.
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WASHINGTON, March 21- U.S. steel companies on Thursday urged Congress and the White House to take action against what they said was a flood of unfairly traded steel from China, partly by reforming U.S. trade laws to make it easier to win import protection.
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WASHINGTON, March 21- U.S. steel companies on Thursday urged Congress and the White House to take action against what they said was a flood of unfairly traded steel from China, partly by reforming U.S. trade laws to make it easier to win import protection.
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*Cyprus closed awaiting vote on tax deal. LONDON, March 19- European shares fell in choppy trade by midday on Tuesday as investors tried to hold their nerve after Cyprus's bailout package stoked anxiety about the euro zone's debt crisis.
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NICOSIA- Cyprus's parliament is set to reject a divisive tax on bank deposits in a vote scheduled for Tuesday, a government spokesman says, a move that will push the island closer to a default and banking collapse. (EUROZONE- CYPRUS/, expect by 1100 GMT/ 7 AM EDT, by Michele Kambas and Karolina Tagaris, 760 words). -CYPRUS- FRANCE/, moved, 260 words.
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PERTH, March 19- Australia's big iron ore miners have cautioned that China can no longer be counted on for unchecked opportunity, warning of volatile markets and softer prices as growth in China's steel production slows.
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PERTH, March 19- Global miner Rio Tinto Ltd said it expects iron ore prices to come under pressure in the second half of the year on slower growth in steel demand from top customer China and increased supply.
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*Traders blame poor demand, dire steel market in Europe. LONDON, March 15- Prices for ferro-tungsten, a hard metal used in tool steels and light bulbs, have fallen to a more than two-year low in Europe, with traders blaming the continent's ailing steel industry and muted manufacturing activity.
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LONDON, March 15- Diesel is now six times more expensive than natural gas on an energy-equivalent basis in the United States, a gap that is unsustainable. As Herbert Stein, chief economist to President Richard Nixon noted, if something cannot go on forever, it will stop. Half of all refuse trucks sold in the United States last year run on gas.
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Oleg Deripaska, the CEO of the world's largest aluminum company Rusal said global commodity producers need to cut output by up to 10 percent.
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March 14- Steelmaker Nucor Corp forecast a drop in first-quarter earnings per share on Thursday, and said its mills have not seen the seasonal improvement they usually do in the first quarter. At the same time, Nucor said its downstream steel products business has seen a seasonal slowdown, and it expects "a modest loss" in that segment.
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GOA, India, March 14- Rising Indian coal imports are the knight in shining armour for producers from the Americas through Africa to Asia-- at least that's the impression the industry is keen to give.
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TOKYO, March 14- The Nikkei average is expected to tread in range on Thursday following two straight days of losses, while investors await the confirmation of Bank of Japan leadership nominees by parliament this week.
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*Voestalpine to invest 550 mln euros in new plant. VIENNA, March 13- Austrian steelmaker Voestalpine has picked Texas as the location for a new 550 million euro sponge iron plant, a sign that cheap U.S. energy prices are attracting industrial investment as Europe lags behind.