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Metals and Mining Steel Producers

  • LONDON, March 23- The political heat is rising in the aluminium market, with a trio of industry bodies calling on the G20 to address global market imbalances resulting from China's burgeoning output. "China's state-sponsored support is contributing to an unsustainable structural overcapacity that will impact growth and contribute to heightened...

  • BRASILIA, March 23- Brazilian steelmaker Usiminas said on Thursday its board has appointed Sergio Leite as the company's new Chief Executive Officer.

  • TORONTO, March 23- Noranda Income Fund said on Thursday zinc output at its Quebec plant, the second-largest in North America, was at 50-60 percent of normal operating levels as a five-and-a-half week long strike dragged on. Typical annual zinc production at the plant is 270,000-275,000 tonnes, Eva Carissimi, chief executive of plant operator Canadian...

  • LONDON, March 23- The political heat is rising in the aluminium market, with a trio of industry bodies calling on the G20 to address global market imbalances resulting from China's burgeoning output. "China's state-sponsored support is contributing to an unsustainable structural overcapacity that will impact growth and contribute to heightened...

  • LONDON, March 23- Liberty House, the industrial and commodities group that is buying up steel assets around the world, is considering investing in the troubled Italian Piombino mill as the global market picks up from a slump, two sources close to the matter said. The mill is owned by Algeria's Cevital Group, which has approached British financier Sanjeev Gupta,...

  • *SHANGHAI COPPER: Shanghai Futures Exchange copper rose 0.6 percent to 47,180 yuan a tonne. Zinc premiums fell $10 to $105- $115, the lowest since August 2015, while Shanghai copper premiums have fallen to around $45, traders and analysts said, the lowest in around a year. *SHANGHAI STOCKS: Shanghai bonded copper stocks are about 620,000 tonnes, according to CRU, up...

  • March 22- No meetings are planned between management and striking workers at Noranda Income Fund's zinc refinery in Quebec, the second biggest in North America, a union official said on Wednesday, as the work stoppage dragged through a sixth week. The two sides last met, along with a mediator, on March 3 but failed to break an impasse over proposed changes to the...

  • SAO PAULO, March 22- Most members of Usinas Siderúrgicas de Minas Gerais SA's board want to oust Chief Executive Officer Rômel de Souza for allegedly taking action to replenish the Brazilian steelmaker's cash balance without the board's permission, three people with knowledge of the matter said on Wednesday. More than half of Usiminas' 11- member board...

  • SAO PAULO, March 22- Most members of Usinas Siderúrgicas de Minas Gerais SA's board want to oust Chief Executive Officer Rômel de Souza for allegedly taking action to replenish the Brazilian steelmaker's cash balance without the board's permission, two people with knowledge of the matter said on Wednesday. More than half of Usiminas' 11- member board say...

  • MELBOURNE, March 22- London copper dropped with other commodities on Wednesday as investors shunned risk on doubts over the economic agenda of U.S. Concerns that the U.S. would not push through corporate tax cuts as promised before the election pulled down stocks in Asia, with the negative sentiment spilling into metals, said analyst Daniel Morgan of UBS in...

  • OTTAWA, March 21- Canada's government, under pressure from domestic steel firms, is expressing concern to U.S. officials about a proposed Buy America policy that could cause heavy Canadian job losses, people familiar with the discussions told Reuters. Commerce Secretary Wilbur Ross in their first conversation on March 9 and underscored worries about...

  • BEIJING, March 18- China should not be singled out in a fight against excess steel capacity that requires stronger global cooperation, Wang Shouwen, a vice commerce minister, said on Saturday. "When we are talking about overcapacity in the steel sector, China should not be singled out. President Donald Trump's choice for top U.S. trade negotiator on Tuesday pledged...

  • Amgen Inc., down $11.50 to $168.61. Adobe Systems Inc., up $4.66 to $127.01. Tiffany& Co., up $2.44 to $92.42.

  • DUESSELDORF, Germany, March 17- Around 72,000 German steel workers will get a 2.3 percent pay hike from April, and another 1.7 percent from next May in a deal struck overnight, one of several sectors in Europe's largest economy to give workers a solid wage rise this year. The deal, which runs until the end of 2018, was reached for steelworkers in northwestern Germany...

  • NEW DELHI, March 17- India's steel minister said he hoped state-owned Steel Authority of India Ltd and ArcelorMittal SA would resolve differences over building an $897 million automotive steel plant before the deadline in May to close the deal. SAIL is banking on the proposed joint venture with the world's number 1 steel producer, ArcelorMittal, to help it move...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country's domestic market to help avert an energy shortage following crisis talks with Prime Minister Malcolm Turnbull. Australia's power supply problems made international...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australian Prime Minister Malcolm Turnbull turned up the heat on Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, on Wednesday ahead of crisis talks about a shortage in the domestic market. "It is not acceptable for Australia... to not have enough gas for its own...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, are set to come under fire to supply more gas to the local market and curb soaring prices in crisis talks on Wednesday with Prime Minister Malcolm Turnbull. The meeting comes days after Australia's energy market...

  • CARNEGIE, Pa. _ Ampco-Pittsburgh Corp. on Tuesday reported a fourth-quarter loss of $43.1 million, after reporting a profit in the same period a year earlier. The Carnegie, Pennsylvania- based company said it had a loss of $3.51 per share. Ampco-Pittsburgh shares have fallen 14 percent since the beginning of the year.

  • BEIJING, March 14- China issued a raft of upbeat data on Tuesday showing the economy got off to a strong start to 2017, supported by strong bank lending, a government infrastructure spree and a much-needed resurgence in private investment. Solid growth is welcome news for China's policymakers as they turn their focus to containing risks from a sharp build-up in...