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Metals and Mining Steel Producers

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  • *ArcelorMittal has limited China exposure. BRUSSELS, July 31- ArcelorMittal, the world's largest steelmaker, said it would do better in the second half of the year than the first and kept its 2015 profit targets, despite cutting its global forecast for steel demand. ArcelorMittal, which produces 6 to 7 percent of the world's steel, repeated its 2015 for core profit...

  • U.S. steel companies in June had filed a complaint with the U.S. government over cheaper imports of corrosion-resistant steel from China, India, Italy, South Korea and Taiwan, kicking off a process that could end in import duties. Cliffs has taken a hit from weak prices for iron ore, caused by excess supply from major iron ore miners such as Vale SA, Rio Tinto Plc and BHP...

  • Universal Stainless reports 2Q loss Wednesday, 29 Jul 2015 | 7:03 AM ET

    BRIDGEVILLE, Pa. _ Universal Stainless& Alloy Products Inc. on Wednesday reported a second-quarter loss of $356,000, after reporting a profit in the same period a year earlier. On a per-share basis, the Bridgeville, Pennsylvania- based company said it had a loss of 5 cents. Keywords: Universal Stainless& Alloy Products, Earnings Report.

  • BRUSSELS, July 28- EU members have backed the imposition of anti-dumping duties on imports of cold-rolled flat stainless steel from China and Taiwan, according to sources familiar with the decision. The European Union will charge tariffs of between 24.3 and 25.3 percent for sheet, coil and strip imports from China and of 6.8 percent for Taiwanese product,...

  • July 28- Peabody Energy Corp said it was suspending its quarterly dividend, reducing production of steel-making coal and cutting jobs to stem losses as coal prices remain stubbornly low. Peabody said it was cutting 550 jobs, including 300 across mines in Australia and 250 corporate and regional support positions, and closing some offices in Wyoming.

  • AK Steel reports 2Q loss Tuesday, 28 Jul 2015 | 8:39 AM ET

    WEST CHESTER, Ohio— AK Steel Holding Corp. on Tuesday reported a loss of $64 million in its second quarter. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 37 cents per share. Five analysts surveyed by Zacks expected $1.67 billion.

  • United Steelworkers' negotiating committee and Stillwater CEO Michael "Mick" McMullen support it, but workers at the mine in Nye and smelter and the refinery complex in Columbus have said the contract could reduce their take-home pay. An answering machine reached Monday at the United Steelworkers Local 11 -0001 office in Columbus urged Stillwater employees...

  • LONDON, July 27- Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. The first-half drop in China's steel production may look marginal, equivalent as it was to just 5 million tonnes less output than in the first half of last year.

  • LONDON, July 27- Copper prices tumbled to a six-year low on Monday as the latest slide in China's stock markets reinforced gloomy prospects for demand in the world's top consumer of the metal. "The drop in Chinese equities and the negative growth backdrop in China are clearly going to leave you very concerned about Chinese demand in the months ahead," said Nic Brown,...

  • FRANKFURT, July 23- German defence group Rheinmetall and French peer Thales are among several groups interested in a defence electronics business that plane maker Airbus is selling in an effort to streamline its operations, sources familiar with the transaction said. The two companies as well as U.S.-based Raytheon and a number of private equity groups...

  • LONDON, July 23- China's pull on refined metal from the rest of the world was much diminished in the first half of this year. Underlying both trends is China's gradual shift towards self-sufficiency at the refined metal stage of the supply chain. Graphic on China's net trade in refined metals:.

  • MOSCOW, July 23- Severstal, one of Russia's largest steel producers, saw its second-quarter net profit increase by 39 percent quarter-on-quarter because of a stronger rouble, it said on Thursday. Severstal's net profit of $469 million was boosted by a FX translation profit of $130 million, the company, controlled by billionaire Alexei Mordashov, said in a...

  • LAUNCESTON, Australia, July 23- The world is used to seeing China as an importer of raw materials and an exporter of manufactured goods, but a change is occurring that has global implications for commodities. While China is still the world's biggest importer of commodities, the nature of its exports are changing. What is happening in China is that as the country has...

  • MELBOURNE, July 22- London copper slid to two-week lows on Wednesday, despite getting some support from a weaker dollar, reflecting plentiful supply and persistent concern over industrial demand in top consumer China. China's industrial sector still faces significant problems and "arduous efforts" are needed to stabilise the economy, the industry ministry...

  • ATHENS, July 21- Greece risks seeing a wave of companies forced out of business within weeks because of restrictions on foreign transfers that have persisted even after banks reopened this week, the head of the Athens Chamber of Commerce warned on Tuesday. "We must tell you that the vast majority of Greek companies are a step away from being forced to shut down...

  • GIBRALTAR, Mich.— Michigan announced Tuesday that it is providing $2.2 million in incentives for an Ohio company's planned $53 million redevelopment of a former Detroit- area steel mill. It includes $1 million Clean Michigan Initiative Brownfield Redevelopment loan, $1 million Revitalization Revolving loan and $245,000 Clean Michigan Initiative grant.

  • METALS-London nickel jumps after China boosts imports Tuesday, 21 Jul 2015 | 3:48 AM ET

    MELBOURNE, July 21- London nickel jumped on Tuesday after China trade data showed imports of the stainless steel material more than doubled in June, raising hopes that a highly anticipated supply shortfall may finally be beginning to bite. "We would expect the lack of Indonesian ore imports to start to have an impact... although the timing has been difficult to pin...

  • Steel Dynamics meets 2Q profit forecasts Monday, 20 Jul 2015 | 6:15 PM ET

    FORT WAYNE, Ind. _ Steel Dynamics Inc. on Monday reported second-quarter profit of $31.6 million. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 22 cents per share. Steel Dynamics shares have declined roughly 5 percent since the beginning of the year.

  • *Analysts doubt China's economy grew an annual 7 pct in Q2. LONDON, July 17- Copper prices slipped on Friday pressured by uncertainty over demand from top consumer China, but a Chinese stock market recovery and a softer dollar are expected to curb losses. "There is potential for more downside in copper and industrial metals, it really does come down to China, which has...

  • *Analysts doubt China's economy grew an annual 7 pct in Q2. LONDON, July 17- Copper prices slipped on Friday as worries about demand from top consumer China dominated sentiment, but losses are expected to be curbed by a Chinese equity market recovery and softer dollar. "There is potential for more downside in copper and industrial metals, it really does come down to...