Metals and Mining Steel Producers

  • BEIJING, Aug 26- China and the United States are still in frequent discussion about a bilateral trade pact, despite a challenging global trade environment, a Chinese commerce official said on Thursday. The United States- China's second-largest trade partner after the European Union- has imposed anti-dumping and countervailing duties on Chinese products and...

  • MELBOURNE, Aug 26- London zinc rallied to its highest in 15 months on Friday as fresh shutdowns in China's steel sector added to mine supply concerns to ignite a short-covering rally. China plans to cut steel production by 2.91 million tonnes this year in inner Mongolia, an industry group reported on its website on Friday. As China steel mills shutter, steel prices...

  • SAO PAULO, Aug 24- Nippon Steel and Sumitomo Metal Corp is working on a plan to split Usinas Siderúrgicas de Minas Gerais SA into two separate units, in a last ditch attempt to end a two-year battle with Techint Group for control of the Brazilian steelmaker, two people familiar with the matter said on Wednesday. Techint Group, the other controlling shareholder of...

  • BEIJING, Aug 24- China's northern Hebei, which accounts for a quarter of China's steel output, is lagging far behind in its plan to reduce steel and iron producing capacity, data released by the provincial state planner showed on Wednesday. The disappointing data from the Hebei Development and Reform Commission showed the difficulties that China faces trying...

  • CAPE TOWN, Aug 23- ArcelorMittal's South African business and the country's government have agreed a new pricing model aimed at bolstering the domestic steel sector and reviving the economy. The company was fined a record 1.5 billion rand on Monday for setting prices at the level consumers would have to pay for imported steel, but Trade and Industry Minister...

  • LAUNCESTON, Australia, Aug 22- A year ago it's likely you would have got better odds that Fortescue Metals Group and Bluescope Steel would go under rather than double profits, given the dire outlook for both iron ore and steel products at that time. Of course, both Fortescue, Australia's third-biggest iron ore miner, and Bluescope, the nation's most valuable steel...

  • Bluescope Results

    Bluescope Steel MD and CEO Paul O'Malley says a broad-based cost reduction program drove the company's profitability.

  • Call of the day: Steel stocks

    The "FMHR" traders and Rob Sechan, UBS Private Wealth Management, discuss KeyBanc's bearish downgrades of steel stocks.

  • NEWARK, N.J.— Stacks of leafy greens are sprouting inside an old brewery in New Jersey. "What we do is we trick it," said David Rosenberg, co-founder and chief executive officer of AeroFarms. The company is in the process of building what an industry group says is the world's largest commercial vertical farm at the site of an old steel mill in New Jersey's largest city.

  • *China's steel sector debt estimated at $500 billion. LONDON, Aug 18- Debt in the world's top 30 steel companies totals a record $150 billion, international accountancy firm EY said on Thursday, adding governments' action to support the sector would work only if matched with more radical industry restructuring. The debt of the top 30 companies is dwarfed by...

  • Total onshore issuance was 2.9 trillion yuan in July, the People's Bank of China data showed, 700 billion yuan less than in June. Corporate non-financial bond issuance rose 78.8 billion yuan to 716.9 billion yuan while municipal bond issuance fell sharply by 632.8 billion yuan to 395.5 billion yuan. Recent controversies surrounding repeated defaults by...

  • SAO PAULO, Aug 16- The Mexican peso continued to strengthen on Tuesday, reaching its highest in more than three months, despite comments from an influential Federal Reserve policymaker who said U.S. interest rates could rise as soon as next month. The peso had hit an over three-month high of 17.9010 per U.S. dollar during the session, but pared gains after William...

  • SHANGHAI, Aug 16- Sinosteel, the troubled Chinese steelmaker which became one of the first state-owned firms to encounter bond repayment problems in 2015, is in the final stages of completing a debt-to-equity swap plan, online financial magazine Caixin reported on Tuesday. The plan has been submitted to the State Council, China's cabinet, for approval and will...

  • SAO PAULO _ Companhia Siderurgica Nacional on Monday reported a loss of $16.3 million in its second quarter. On a per-share basis, the Sao Paulo- based company said it had a loss of 1 cent. This story was generated by Automated Insights using data from Zacks Investment Research.

  • SAO PAULO, Aug 15- Brazil's steelmaker Companhia Siderúrgica Nacional posted a second-quarter loss of 43 million reais, missing an analyst consensus for a profit of 38 million reais. Earnings before interest, tax, debt and amortization, a measure of operating profitability known as EBITDA, came in at 576 million reais, below a consensus estimate of 842 million...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. The decline partly reflects China's efforts to address a chronic glut. In the months ahead, further capacity cuts, mostly via stricter...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. Daily output averaged 2.15 million tonnes last month after a surprise increase to an all-time high of 2.32 million tonnes in June, according...

  • Aug 12- China's average daily crude steel fell in July from a record high in the previous month, government data showed on Friday, as Beijing's environmental clampdown curbed production in the world's top steel producer. Tougher environmental inspections of mills across China, including in the major producing city of Tangshan, had led to some closures, as...

  • Aug 12- China's crude steel output rose 2.6 percent from a year ago to 66.81 million tonnes in July, data from the National Bureau of Statistics showed on Friday.

  • *Nippon Steel could consider consolidation of Japan facilities. TOKYO, Aug 12- A soaring yen in the wake of Britain's decision to leave the European Union may stymie a possible recovery in Japanese demand for steel, said an official at the country's top maker of the material. Nippon Steel& Sumitomo Metal Corp Executive Vice President Toshiharu Sakae said that a...