Steel Producers


  • SYDNEY, May 15- London nickel pared losses on Thursday after plunging nearly 10 percent on a blast of momentum-based sales that gouged into a spectacular rally driven by supply concerns. Nickel prices had surged more than 50 percent this year to reach the highest in two years on Tuesday, after top ore supplier Indonesia banned exports in January.

  • SYDNEY, May 15- London nickel plunged nearly 10 percent on Thursday as light profit-taking triggered a blast of momentum-based sales after supply concerns fuelled a rally of more than 15 percent in the past week.

  • MELBOURNE/ HONG KONG, May 15- The days when Australian mining magnates could dictate terms to Chinese buyers are over. "This may get the wheels turning where other Chinese companies are sitting with big stakes and have an inside track," said Paul Donnelly, executive director at JPMorgan, who works on metals and mining deals.

  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • NEW DELHI/ MUMBAI, May 14- Tata Steel Ltd said a phase of solid economic growth in Europe was supporting a recovery in steel demand in its main market, which also helped the company post results that easily beat analysts' estimates in the March quarter. Tata Steel got a foothold in Europe through its $13 billion acquisition of Britain's Corus in 2007..

  • METALS-Nickel slips from 27-month highs, copper gains Wednesday, 14 May 2014 | 6:00 AM ET

    LONDON, May 14- Nickel prices slipped on Wednesday as a rally that had propelled the metal to 27 month highs ran out of steam, but concerns about tightening supplies are likely to keep prices supported. Three-month nickel on the London Metal Exchange fell 1 percent to $20,781 a tonne at 0936 GMT, after rising the last six trading sessions.

  • European shares hit multi-year high, Airbus surges Tuesday, 13 May 2014 | 12:57 PM ET

    *Airbus, ThyssenKrupp help industrial shares. LONDON, May 13- European equities ended higher on Tuesday, with some benchmarks hitting multi-year highs following upbeat company results from major companies such as aerospace giant Airbus and steelmaker ThyssenKrupp.

  • European shares hit multi-year high, industrials up Tuesday, 13 May 2014 | 10:16 AM ET

    *Airbus, ThyssenKrupp help industrial shares. Airbus Group surged 6.3 percent in a relief rally after it reported better-than-expected profits and said its latest jetliner was "progressing towards certification" in time for first delivery by the end of the year.

  • TOKYO, May 13- Sumitomo Metal Mining Co Ltd, Japan's biggest nickel smelter, said there was an increasing risk it could cut production of key stainless steel ingredient ferronickel, amid growing concerns about ore shortages.

  • Europe shares rise on upbeat earnings, Bundesbank talk Tuesday, 13 May 2014 | 7:15 AM ET

    PARIS, May 13- European stocks rose on Tuesday, with a number of benchmarks hitting multi-year highs, boosted by upbeat company results and a report saying Germany's central bank is ready to back new stimulus measures from the European Central Bank.

  • SHANGHAI, May 13- China's crude oil runs, oil demand and total base metals production unexpectedly fell in April from the preceding month, with slackening power generation also fanning concerns that the world's second-largest economy is not yet on a stable footing.

  • European shares extend rally; Airbus surges Tuesday, 13 May 2014 | 4:08 AM ET

    *Airbus surges after better-than-expected results. Airbus Group surged 5 percent in a relief rally after it reported better-than-expected profits and said its latest jetliner, the A350, was "progressing towards certification" in time for first delivery by the end of the year. "Airbus Group results are a decent beat...

  • LONDON, May 13- European shares rose on Tuesday, with a key regional index making fresh six-year highs, as a rally in U.S. shares and upbeat updates from blue-chips such as steelmaker ThyssenKrupp supported risk appetite. Britain's FTSE was up 0.2 percent after briefly hitting its highest point in roughly a year.

  • --Clyde Russell is a Reuters columnist. Global iron ore miners are boosting seaborne supplies of the steelmaking ingredient by about 20 percent over the next two years and believe China will buy most of the extra cargoes. As CISA points out, however, China will still have significant surplus capacity even as outdated and polluting plants are shut down or idled.

  • BEIJING, May 13- China's campaign against pollution and greenhouse gases is hitting early resistance in Guangdong province, where more than 60 manufacturers are holding back from a carbon market launched last year, saying the scheme is unfair and too costly.

  • BEIJING, May 13- As relations between China and Japan plumb a new low, the descendants of hundreds of of Chinese men forced to work in wartime Japan are taking big, modern-day Japanese corporates to court. Japan invaded China in 1937 and ruled parts of it with a brutal hand for the next eight years.

  • MOSCOW, May 12- Russian steelmaker Severstal has received bids from potential buyers for its North American operations, a Russian source familiar with the matter said on Monday. Severstal's operations in the United States consist of steel plants in Dearborn, Michigan and Columbus, Mississippi.

  • SYDNEY, May 12- London nickel jumped by nearly 5 percent on Monday, extending a winning streak that has fuelled gains of more than 12 percent in May alone as investors and consumers stock up on prospects of a worsening supply shortfall later in the year.

  • Nickel prices have soared by nearly 50 percent since January due to a ban on ore shipments from top exporter Indonesia that has triggered hoarding, while speculation sanctions against Russia may hit top nickel producer Norilsk Nickel have poured fuel on the bullish sentiment.