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Metals and Mining Steel Producers


  • SHANGHAI/ SINGAPORE, June 18- Some Chinese steelmakers are selling their output abroad at a loss, according to traders and a producer, as a group of global industry bodies urged governments to take action over rising shipments from China. China exports around 10 percent of its annual steel output from hundreds of steelmakers and it was unclear the quantity of...

  • LAUNCESTON, Australia, June 17- Something has to give in the Chinese steel sector, given the disconnect between record low steel prices and a recent strong rally in iron ore. While Dalian Commodity Exchange iron ore futures did drop on Tuesday, falling 1.4 percent to end at 442.5 yuan a tonne, the contract rallied 21 percent between its record low on April 10 this...

  • WILMINGTON, Del, June 15- The U.S. Supreme Court ruled on Monday that bankruptcy attorneys must bear the expense of defending their fees, which could make it harder for lawyers to get paid for their often-costly Chapter 11 work. Baker Botts was eventually awarded $117 million for its work, which was considered particularly successful because creditors were...

  • SHANGHAI, June 15- China stocks fell sharply on Monday, hit by a run of bad news over the weekend, including fresh tightening of margin financing and signs of stepped-up IPO issuance. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 2.1 percent, to 5,221.17, while the Shanghai Composite Index lost 2.0 percent, to 5,062.99 points.

  • China May steel output down 1.7 pct yr/yr -stats bureau Thursday, 11 Jun 2015 | 1:46 AM ET

    SHANGHAI, June 11- China's crude steel output fell 1.7 pct to 69.95 million tonnes in May from a year earlier, data from the National Statistical Bureau showed on Thursday.

  • SINGAPORE, June 10- Iron ore held at its highest level in nearly four months on Wednesday as stocks at China's ports dropped for the eighth consecutive week, helping entrench a recent recovery in prices. Futures of the steel-making commodity in Singapore and China jumped on Wednesday, with iron ore in Dalian hitting its highest since March.

  • MOSCOW, June 8- Russian steel producer MMK said on Monday first quarter revenue had fallen 19.6 percent year-on-year to $1.5 billion largely because of the rouble devaluation, and that net profit reached $196 million. The company, controlled by businessman Viktor Rashnikov, said its EBIDTA- earnings before interest, taxation, depreciation and amortisation-...

  • *Trade surplus $59.49 bln, vs f'cast $44.95 bln. BEIJING, June 8- A bigger-than-expected slide in China's imports in May strengthened expectations more policy stimulus may be needed to avert a sharp slowdown in the world's second-largest economy. We expect trade conditions to continue to be sluggish in the following 4-5 months, with more government policy...

  • NEW DELHI, June 6- India's finance ministry has imposed anti-dumping duties ranging from $180 to $316 per tonne for some industrial-grade stainless steel imported from China, Malaysia and South Korea in a bid to stem surging imports and protect the domestic industry. India consumes about 1 million tonne of this type of stainless steel and more than 40 percent...

  • LONDON, June 5- Markets do not move in straight lines. IO62-CNI= SI> fell relentlessly over the second half of 2014 and first quarter of 2015 to hit a low of $46.70 per tonne at the end of April. It has since bounced back to a current $63.50, lifting some of the pervasive gloom that had enveloped the industry and causing at least some analysts to rein in their previous...

  • MOSCOW, June 4- Russian steelmaker Evraz said on Thursday it had temporarily halted work at its North American Pueblo production plant due to weaker demand. Evraz and other steelmakers which produce metal pipes for the oil and gas industry have been hit by a 40 percent drop in oil prices since June last year. The Denver Post newspaper reported in January that...

  • *Singapore Exchange volumes to reach 1 billion tonnes this year. VIENNA, June 3- The derivatives market for iron ore is reaching a tipping point in its strong growth as steel consumers pile in, with contracts traded outside China expected to reach around a billion tonnes this year. Iron ore derivatives traded on the Singapore Exchange have roughly doubled in...

  • LAUNCESTON, Australia, June 3- How well is the plan by big iron ore miners to displace high-cost iron ore from the seaborne and Chinese domestic markets going? Certainly Chinese trade numbers show that Australia in particular has increased market share in iron ore imports, but the momentum may be stalling. In the first four months of the year, Chinese imports of the...

  • Not getting the proper policies for US growth: CEO Friday, 22 May 2015 | 5:20 AM ET
    Not getting the proper policies for US growth: CEO

    Mario Longhi, CEO of United States Steel, says that it's a "give and take" when it comes to the US economic outlook.

  • Trade has to be done under rule of law: US Steel CEO Wednesday, 6 May 2015 | 6:52 AM ET
    Trade has to be done under rule of law: US Steel CEO

    Mario Longhi, U.S. Steel CEO, discusses his company's growth strategy, despite energy, and strong U.S. dollar headwinds, and foreign "dumping," Also Longhi discusses US Steel's "Carnegie way" transformation plan.

  • Don't buy U.S. Steel: Trader Tuesday, 28 Apr 2015 | 5:30 PM ET
    Don't buy U.S. Steel: Trader

    "Fast Money" trader Brian Kelly thinks investors should get out of U.S. Steel after the company cut its 2015 guidance.

  • These iron ore players face metal fatigue: Goldman Sunday, 19 Apr 2015 | 8:43 PM ET
    Bars of pig iron sit on the dockside ahead of export at the Port of Mariupol, one of Ukraine's biggest commercial sea ports, in Mariupol, Ukraine.

    Iron ore's price plunge is likely to start claiming corporate casualties among the industry's smaller players, Goldman Sachs said.

  • Steel hit by strong dollar Friday, 20 Mar 2015 | 1:31 PM ET
    Steel hit by strong dollar

    Analysts expect another tough year for the steel industry, reports CNBC's Morgan Brennan.

  • Union strikes at 9 US refineries amid contract war Sunday, 1 Feb 2015 | 12:04 AM ET
    Tesoro's oil refinery in Los Angeles

    Union leaders called strikes on Sunday at nine U.S. refineries in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants.

  • Why iron ore won’t rebound any time soon Monday, 26 Jan 2015 | 10:53 PM ET
    Rail cars laden with iron ore arrive at the receiving facility at Fortescue Metals' Herb Elliott Port in Western Australia.

    Economists may teach that low prices and declining demand encourage producers to decrease supply, but the iron ore industry may have skipped class that day.