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Steel Producers

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  • 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...

  • NEW DELHI/ BHUBANESWAR, India, July 16- South Korean steelmaker POSCO could scrap plans for a $12 billion project it agreed to set up in India a decade ago, after a new law made it costlier to source iron ore for the plant, a company spokesman told Reuters. The U.S.-listed shares of POSCO fell as much as 3.3 percent to their lowest in more than six and a half years after the...

  • MELBOURNE, July 16- London copper climbed on Thursday as risk appetite revived after Greece's parliament passed severe austerity measures but gains were capped on persistent concern that China's volatile sharemarket could upset early signs of economic recovery. China stocks rebounded on Thursday, but traders were still cautious about whether China...

  • MELBOURNE, July 16- London copper edged up in thin trade on Thursday, but gains were capped by a strong dollar and concern that China's volatile sharemarket could unravel early signs of economic recovery. *Shanghai Futures Exchange copper slipped by 0.4 percent to 40,290 yuan a tonne. *China's economy grew an annual 7 percent in the second quarter, beating...

  • Asia Inc looks to post-sanctions Iran for demand spurt Wednesday, 15 Jul 2015 | 7:22 AM ET

    SEOUL/ NEW DELHI, July 15- From steelmakers to construction firms, industrial companies in Asia hope an end to sanctions in Iran can provide a new source of sorely-needed demand. Shares in GS E&C, which walked away from a $1.2 billion project in Iran five years ago as sanctions escalated, gained nearly 5 percent on Wednesday, and South Korea's construction index...

  • *China Q2 GDP comes in at 7.0 pct vs 6.9 pct in poll. *China floor space sales improve, factory output jumps. LONDON, July 15- Copper and other base metal prices rose on Wednesday after top consumer China reported strong factory output and better-than-expected second-quarter growth, though a renewed slide in Chinese equities kept gains in check.

  • Nickel's fightback begins but obstacles loom Wednesday, 15 Jul 2015 | 6:15 AM ET

    *China's nickel pig-iron producers losing money. LONDON, July 15- Prospects for tighter nickel supplies may have put a floor under prices but any real recovery will need Chinese stainless steel mills to step up their orders and global stockpiles to fall. Prices have climbed back to around $11,500 yet remain at just half the $21,625 hit in May 2014 after Indonesia...

  • *China H1 crude steel output down 1.3 pct on year. SHANGHAI, July 15- China's crude steel output dropped 0.8 percent in June from a year earlier, government data showed on Wednesday, with demand hit by sputtering economic growth and a property slowdown in the world's top producer. But average daily output reached 2.298 million tonnes last month, the highest since...