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...» Read More
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.
KeyBanc analyst Phil Gibbs expects U.S. steel consumption to increase just 2 percent this year versus 5 percent in 2014. CNBC's Morgan Brennan reports the slowdown is oil related.
A halving in the price of iron ore this year has been fueled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract.
Businesses are complaining about Beijing's use of non-tariff barriers from customs clearance to quality restrictions to curb raw material imports.
Three commodities are on Dennis Gartman's "buy" list.
Investors should stay away from Brazil amid its presidential election, Dennis Gartman says.
Shares of U.S. Steel are surging after the company announced its Canadian unit will go into creditor protection. CNBC's Sara Eisen has the details.
Ryan Detrick, Schaeffer's Investment Research, turns a technical eye on where he sees the market headed. Technically the S&P 500 still looks pretty good, says Schaeffer.
Nucor CEO John Ferriola discusses the impact of the natural gas revolution on U.S. manufacturing, and how using high quality DRI pellets, or direct reduced iron, lowers its costs and energy consumption while increasing its productivity.
Greg Smith, Group CEO at Global Commodities makes a case for investing in gold even as yellow metal trade relatively lower from its lofty highs.
David Lipschitz, CLSA senior metals and mining Analyst, breaks down U.S. Steel and explains why he is selling.
Yannick Naud, portfolio manager at Sturgeon Capital, explains that ArcelorMittal is his top pick in the steel sector because it should benefit the most from "a rebound in developed markets."
Alexei Mordashov, CEO at Severstal, expects a "significant" increase in steel demand in 2014 but says the problem for steel companies are the margins due to overcapacity.
Australian miners shoveled record tonnages of iron ore in the December quarter, supported by billions of dollars worth of expansion plans coming on stream.
Why Nucor makes a great stock pick in the steel industry right now, with Aldo Mazzaferro, Macquarie Securities.
When the leaders of Mexico and China met last summer, there was much talk of the need to deepen trade. Down on Mexico's Pacific coast, a drug gang was already making it a reality.
CNBC's Morgan Brennan reports steel is staged to benefit from an expected non-residential construction recovery in 2014.
Commodities trader Dennis Gartman shares his top trades to close out the year.
Coal is "a perfect contrarian's play," Dennis Gartman says.
Christine Tan speaks to JC Tsou, Chairman of China Steel, about the firm's leadership style.