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Metals and Mining Steel Producers

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  • --Clyde Russell is a Reuters columnist. The scaling back of BHP's China steel forecast leaves Sam Walsh, the chief executive of rival Rio Tinto, as one of the last holdouts for a peak above 1 billion tonnes. Walsh is starting to cut a lonely figure when it comes to China's peak steel, with the market consensus increasingly swinging behind the view of the China Iron&...

  • MELBOURNE, Aug 25- BHP Billiton promised to keep its dividends even as it reported its worst underlying profit in a decade on Tuesday, hurt by plunging iron ore, copper, coal and oil prices. BHP and its peers have been hit after they hiked output of iron ore, copper and coal just as demand growth slowed in China, the top global metals consumer, and have been slashing costs...

  • Nikkei tumbles 4 percent after wild day of trading Tuesday, 25 Aug 2015 | 2:49 AM ET

    TOKYO, Aug 25- Japanese stocks fell for a sixth consecutive day on Tuesday in a volatile session that saw indexes seesaw between losses and gains before retreating late in the session on worries about China's slowing economy. The benchmark index opened down 2 percent, clawed its way back into the black by lunch and then fell sharply again in afternoon as...

  • TOKYO, Aug 25- Japan's Nikkei share average dropped sharply in extremely volatile conditions in late afternoon trade, pressured by European investors' selling as the market is still haunted by fears of a hard-landing in China. This risk has now come to the forefront, "Rie Shigekawa, portfolio manager at Fidelity Worldwide Investment in Japan.

  • TOKYO, Aug 25- Japan's Nikkei share average changed course in extremely volatile trading and rose on Tuesday morning after solid U.S. stock futures eased concerns a global stock rout rooted in China worries would continue. At the outset, after shares plunged in New York, the Nikkei touched a fresh six-month low. The selloff in risk assets gathered pace, with U.S....

  • SHANGHAI, Aug 24- Baoshan Iron& Steel, China's biggest listed steel company, reported a modest increase in first-half profit on Monday, citing easing demand in its domestic market. China's steel sector is grappling with chronic overcapacity, tougher environmental measures and an economic slowdown that is hitting demand for industrial metals.

  • LONDON, Aug 24- Copper prices tumbled to six-year lows on Monday alongside Shanghai equities on growing nervousness about economic activity and demand prospects in top industrial metals consumer China. The metal used in power and constriction was at $4,897 a tonne at 1121 GMT from $5,055 at Friday's close. The perception that the Chinese government can...

  • *Iron ore miners hit hard by economic slowdown in China. SYDNEY, Aug 24- Australia's Fortescue Metals Group on Monday said annual profit dropped nearly 90 percent to $316 million, the latest iron ore miner to report sharply lower earnings on weak prices for the steel-making ingredient as China's economy slows. At 0036 GMT, Fortescue was 7 percent lower at A $1.78.

  • Drawing new price tags, "said retired farmer Daulet Ishimbayev who supplements his pension by selling fruit and vegetables in a makeshift kiosk in an Almaty suburb. Heaps of melons from Uzbekistan and crates with Kyrgyz grapes contrasted with modest-looking tomatoes and cucumbers from southern Kazakhstan, the only local produce on sale.

  • *China flash PMI shrinks at fastest pace in nearly 6-1/ 2 years. *China refined nickel imports nearly double in July. LONDON, Aug 21- Copper tumbled on Friday, heading for a seventh consecutive weekly loss, as poor factory data in China sparked alarm in global markets and fanned fears of a slide in metals consumption in the world's top copper buyer.

  • *China refined nickel imports nearly double in July. *China aluminium semis exports second lowest this year. MELBOURNE, Aug 21- London copper resumed its fall on Friday and was facing its seventh weekly loss, as poor factory growth in China fanned fears its economy was worsening, but the $5,000 support level held for now.

  • LAUNCESTON, Australia, Aug 20- Take two top mining executives and ask them about China. "difficult to call at the moment with what we see in China," Glasenberg said. "That's the one we are all struggling to read, demand in China."

  • TOKYO, Aug 20- Japanese stocks fell for a third day to a three-week low on Thursday morning on worries about China's economy and Wall Street weakness, but SoftBank Group Corp soared on news its president will buy the company's shares. SoftBank jumped 3 percent and was the most traded stock by turnover after President Nikesh Arora said he is buying about 60 billion...

  • SAO PAULO, Aug 19- Cia Siderúrgica Nacional SA, the debt-laden Brazilian steelmaker, is likely to decide between global advisory firms Rothschild and Lazard Ltd to coordinate the sale of some non-essential assets, a source with knowledge of the situation said on Wednesday. Rothschild has topped mergers and acquisitions advisory in Brazil so far this year,...

  • FAIRFIELD, Ala.— U.S. Steel Corp. said Monday that it will close its Fairfield Works mill, one of the largest remaining pieces from Birmingham's years as a Southern steel-making giant. "Any time you're talking about a major layoff, it's no good news at all," Fairfield Mayor Kenneth Coachman said. The plant is just outside the city limits of its namesake town, but...

  • STOCKHOLM— Norway's $870 billion sovereign wealth fund has excluded four Asian companies over environmental concerns linked to their palm oil activities in Indonesia. Acting on a recommendation from its ethical council, Norway's central bank on Monday said the fund would divest from South Korean steelmaker Posco, its subsidiary Daewoo International...

  • *Will no longer invest in Korea's Posco, Daewoo International. Construction firm IJM Corp Bhd and conglomerate Genting Bhd, both of Malaysia, and steelmaker POSCO and conglomerate Daewoo International Corp of South Korea, were removed from the fund. At the start of 2015, the Norwegian fund owned shares worth 1.49 billion Norwegian crowns in Posco, 67.5 million...

  • I’m negative on steel: Commodities economist Monday, 17 Aug 2015 | 2:10 AM ET
     I’m negative on steel: Commodities economist

    Caroline Bain, senior commodities economist at Capital Economics, explains why she’s negative on steel.

  • HONG KONG— China's unexpected move this week to lower the value of its tightly-leashed currency, the yuan, sent shockwaves through global financial markets. The effect on prices in shops for clothes or electronics or other China- made products might be limited overall, particularly if the yuan doesn't fall further. Lower prices are possible in industries such...

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and departures at this gateway to northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting to...