Metals and Mining Steel Producers

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  • *South Korea already filed WTO appeal over U.S. duties. LONDON, Sept 14- Turkey is considering lodging an appeal with the World Trade Organization against a U.S. move to slap anti-dumping duties on imports of Turkish steel pipes, an industry group told Reuters. In a big win for U.S. steel pipe makers, the U.S. International Trade Commission ruled last year that imports...

  • BEIJING, Sept 13- China's output of key industrial commodities including coal and steel weakened in August, as government measures to cut smog ahead of World War Two commemorations further cut production already lowered by a slowing economy. Growth in China's investment and factory output missed forecasts in the month, pointing to a further cooling in the...

  • BEIJING, Sept 13- China produced 66.94 million tonnes of crude steel in August, down 3.5 percent on the year, hit by weak demand and the closure of industrial plants in northern China to reduce air pollution ahead of World War Two commemorations. Total steel production in the first eight months of the year reached 543 million tonnes, down 2 percent on the year, the...

  • LONDON, Sept 11- BHP Billiton last month revised downwards its forecast of "peak steel" production in China, the world's largest producer of the stuff. After all, these are two of the world's largest producers of iron ore and China is the world's largest buyer of their product. For BHP and Rio and their shareholders "peak steel" in China is more than just an academic...

  • MOSCOW, Sept 9- Russian coal and steel producer Mechel has signed a debt restructuring deal with the country's second-largest state bank, VTB, leaving it one step away from reaching an agreement with all three of its main lenders. VTB has agreed to restructure Mechel debt worth 70 billion roubles, the bank and the miner said on Wednesday. The restructuring...

  • *Some foreign steelmakers planning return to Iran. MANILA/ LONDON, Sept 8- Any global steelmakers hoping a potential end to sanctions on Iran will fully revive what was once a multi-billion dollar import market for their product will be disappointed as Tehran is boosting local output and expects its own exports to grow. South Korea's POSCO and a company owned by...

  • XUZHOU, China, Sept 7- Two years after China unveiled a sweeping plan to rebuild Silk Road trade links with Europe and Asia, machinery maker XCMG Group has opened a factory in Uzbekistan, sent 300 staff abroad and set ambitious goals to grow overseas. "This is China's grand strategy," said Hanson Liu, assistant president at Xuzhou Construction Machinery Group, which...

  • LONDON, Sept 3- On the London Metal Exchange benchmark nickel for three-month delivery is currently trading around $10,000 per tonne. Nickel hit a low of $9,100 during its "flash crash" of Aug. 12, within spitting distance of the low of $8,850 recorded in October 2008, the month after the fateful " Lehman Moment." When nickel recorded that historic low back in October...

  • Why Rio Tinto isn't fretting over China's slowdown Thursday, 3 Sep 2015 | 8:18 PM ET
    A worker walks among coils of galvanized steel at a steel factory.

    Rio Tinto says China's steel production will grow modestly until 2030 but demand will increase in other emerging markets in Southeast Asia and India, the Financial Times reports.

  • COLUMN-Why is nickel trading like it's 2008? Andy Home Thursday, 3 Sep 2015 | 10:34 AM ET

    LONDON, Sept 3- On the London Metal Exchange benchmark nickel for three-month delivery is currently trading around $10,000 per tonne. Nickel hit a low of $9,100 during its "flash crash" of Aug. 12, within spitting distance of the low of $8,850 recorded in October 2009, the month after the fateful "Lehman Moment". When nickel recorded that historic low back in October...

  • *China official factory PMI 49.7 in August vs 50.0 in July. LONDON, Sept 1- Copper prices fell on Tuesday as expectations of weak demand from top consumer China were fuelled by data showing the country's manufacturing sector contracting at its fastest pace in three years. "Looking at fundamentals, China and demand, it's not looking terribly healthy," said Sergey...

  • Shares in the South African division of ArcelorMittal slumped 23 percent in Johannesburg to a 13- year low of 9.01 rand after the news. ArcelorMittal said in a statement that trading conditions had continued to worsen since it started reviewing its long steel business in July, adding that higher South African import duties would only bring relief over the...

  • ArcelorMittal said in a statement that trading conditions have continued to worsen since it started reviewing its long steel business in July, adding that the higher import duty will only bring relief over the medium to long term. ArcelorMittal said it had started discussions with unions about the closure of two mills, cutting as many as 400 jobs, at its plant in...

  • So the last week was spent riding the wave of volatility and now people are starting to have a deeper think about what the fall in China really means for Japan. " "Weak demand from China is expected to continue to weigh on Japan's production going forward so China worries may persist," said Masaru Hamasaki, head of market& investment information department at Amundi...

  • German car makers are reviewing how many vehicles to send to China or the U.S., and U.S. dealers say they expect to get more Mercedes, Audi and BMW sport utility vehicles to sell as a result. Most global automakers have significant manufacturing operations in China they want to keep running. Before the market declines and the currency devaluation, demand for SUVs...

  • TOKYO, Aug 27- Japan's Nikkei share average extended the previous day's gains on Thursday after a strong rebound on Wall Street and continued calm in Chinese markets eased investors' fears of a prolonged global market rout. North America and Europe are doing just fine and that's what really drives things as far as Japan is concerned--the shopping malls of rich...

  • SAO PAULO, Aug 26- While many of Brazil's largest companies have grown savvy about hedging their debt against big currency swings, an increasing number could feel the heat from the real's plunge to a more than 12- year low due to poor planning and rising debt, bankers said. Debt refinancing and hedging costs are rapidly rising as Brazil's economy falls into...

  • COLUMN-Worried about China? Ask a metals trader: Andy Home Wednesday, 26 Aug 2015 | 10:36 AM ET

    LONDON, Aug 26- Everyone's worried about China. But while the rest of the world seems shocked that all is not as it should be in the industrial powerhouse that is China, metal traders have been grappling all year with the implications of a Chinese slowdown. Right now sentiment is king across all markets with fear and panic breeding more fear and panic, but industrial...

  • VIENNA, Aug 26- Austrian high-end steel maker Voestalpine might not stick to its plan to start building a specialised steel plant in China this year but still wants to expand there in the long term, its chief executive told Reuters in an interview. Voestalpine has been relatively shielded from the slump in Chinese markets and cheaper Chinese steel exports as it...

  • --Clyde Russell is a Reuters columnist. The scaling back of BHP's China steel forecast leaves Sam Walsh, the chief executive of rival Rio Tinto, as one of the last holdouts for a peak above 1 billion tonnes. Walsh is starting to cut a lonely figure when it comes to China's peak steel, with the market consensus increasingly swinging behind the view of the China Iron&...