Metals and Mining Steel Producers

  • Michael James "Jim" Delligatti, the McDonald's franchisee who created the Big Mac nearly 50 years ago and saw it become perhaps the best-known fast-food sandwich in the world, died Monday at home in Pittsburgh. Delligatti's franchise was based in Uniontown, not far from Pittsburgh, when he invented the chain's signature burger in 1967 after deciding customers...

  • WASHINGTON— In persuading Carrier to keep hundreds of jobs in Indiana, President-elect Donald Trump is claiming victory on behalf of factory workers whose positions were bound for Mexico. By enabling Carrier's Indianapolis plant to stay open, the deal spares about 800 union workers whose jobs were going to be outsourced to Mexico, according to federal...

  • BEIJING/ MELBOURE, Nov 30- An exodus of cash from steel to rubber to zinc threatened a blistering months-long rally across global commodity markets on Wednesday, triggered by fresh concerns about liquidity in China, the world's second largest economy. Coking coal futures and construction product steel rebar posted their biggest one-day falls on record, while...

  • TOKYO, Nov 30- Japanese stocks edged up on Wednesday morning on the back of Wall Street's strength, but gains were limited as most investors stayed on the sidelines ahead of an OPEC meeting to decide on production cuts and a crucial referendum in Italy. On the day, Shigemi expects subdued activity as traders looked to developments at the Organization of the...

  • *Duo already dominant in top producer South Africa. LONDON, Nov 29- Rocketing ferrochrome prices are expected to accelerate consolidation among producers in South Africa, increasing the global stainless steel industry's reliance on mining group Glencore and chrome ore company Samancor. Nearly 60 percent of the world's production of global chrome ore-- used...

  • DUESSELDORF, Germany, Nov 29- Thyssenkrupp's powerful labor chief said workers would resist shutting down capacity in any merger of the German industrial group's European steel business with that of peer Tata Steel. "I don't see any strengthening through a merger with Tata," Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil.

  • *Seeks premium from China mills for 1st time since 2010. That would be a record high and up from a premium of $1.50 for the four-month period through December this year, said one of the sources who works closely with Rio in China. From Chinese mills, Rio initially sought a 15- cent premium, but this week increased it to about $1, said the same source.

  • SINGAPORE, Nov 29- Sales of second-hand ships used to haul commodities such as iron ore, coal, grain and fertiliser have hit a seven-year high in 2016 as the industry creeps out of an eight-year downturn that has sunk several fleets of shippers. "We've seen a lot of interest from Asian buyers in 10-15 year old ships, which is partly due to the surge in rates," said Ziad...

  • LONDON/ FRANKFURT, Nov 28- Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry. Indian-owned Tata Steel, which employs 11,000 people in...

  • SAO PAULO, Nov 28- Share prices across Latin America will likely rise at a slower pace next year as higher U.S. interest rates, a stronger dollar and political turmoil in some of the region's top markets offset the impact of a rally in commodities, Morgan Stanley strategists said on Monday. In terms of countries, Paiva and his team still prefer Peru and Chile over...

  • MUMBAI, Nov 28- Tata Steel UK, the British arm of India's Tata Steel, will hold exclusive talks with trading firm Liberty House to sell its speciality steel business as its parent seeks to offload loss-making assets and restructure European operations. Tata Steel, India's biggest steelmaker by overall capacity, has been trying to restructure its UK business,...

  • *Shanghai rebar steel up nearly 90 pct this year. *Shanghai exchange to limit size of positions of non-members. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing intensely pursues capacity cuts,...

  • LAUNCESTON, Australia, Nov 28- Almost unnoticed, Rio Tinto Chief Executive Jean Sebastien Jacques has ushered the China iron ore elephant out of the room. News that Rio has quietly abandoned its long-held view that China's steel output will rise to 1 billion tonnes a year by 2030 wasn't exactly hidden by Jacques, but neither was it highlighted when the new boss of...

  • The red-hot rally in steel is bound to push iron ore above $80 a tonne for the first time since October 2014, having lifted zinc to a nine-year high. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing...

  • BEIJING, Nov 27- Profit growth in China's industrial sector picked up in October, aided by stronger sales and higher prices, suggesting further strengthening of the world's second-largest economy, though growth was skewed towards high-polluting heavy industry. There has been widespread speculation in China's commodities futures market this year, with...

  • Merkel said Germany, which takes over the G20 presidency next month, would push for a collective solution for the worldwide glut that has dampened steel prices for years and raised tensions between China and other major producers. European and U.S. leaders have pressed China to accelerate capacity cuts, blaming its big exports for slumping prices and accusing...

  • Demand for steel much better than expected: Expert

    S&P Global Platts's Annalisa Jeffries talks about a rally in iron ore on the back of higher steel prices.

  • Jacques, named five months ago to run the world's second-biggest mining company, said it's now clear China's mandate to rid its skies of pollution by restructuring its state-owned coal industry was behind a tripling of coal prices since January. In April, China's State Administration of Work Safety introduced new coal-production caps, restricting the...

  • TORONTO, Nov 23- Four workers at a Sherritt International Corp joint venture in Cuba died on Tuesday, when a municipal bridge they were repairing collapsed, the Canadian miner said on Wednesday. Sherritt, which owns 50 percent of the Moa nickel operation with General Nickel Company SA of Cuba, said the bridge had been damaged by Hurricane Matthew in October and...

  • TORONTO, Nov 23- Four workers at a Sherritt International Corp joint venture in Cuba died on Tuesday, when a municipal bridge they were repairing collapsed, the Canadian miner said on Wednesday. Sherritt, which owns 50 percent of the Moa nickel operation with General Nickel Company SA of Cuba, said the bridge had been damaged by Hurricane Matthew in October and...