Metals and Mining Steel Producers

  • LONDON, April 27- Prime Minister David Cameron said on Wednesday there was no guarantee that efforts to save the British steel industry would be successful, trying to manage expectations that the government can save thousands of jobs. Cameron has said his government will do all it can to secure a buyer for Tata Steel's businesses in Britain, keen to make sure the...

  • CORRECTED- UK PM CAMERON SAYS THERE IS NO GUARANTEE OF SUCCESS IN SAVING UK STEEL INDUSTRY.

  • SHANGHAI, April 27- A surge of volatility in China's once placid commodities futures markets has rattled industrial players who use them for hedging, with some taking losses or cutting exposure, driven out by a flood of speculative money from hedge funds and retail investors. Rebar futures, for example, are up more than 50 percent so far in 2016 after six straight...

  • SYDNEY, April 27- A bad debt blowout is likely to end a dream run of six straight years of record profits for Australia's banks as they report half-yearly earnings next week, piling pressure on a sector already on the defensive over a series of financial scandals. The increase in bad debts of about A $3.4 billion, according to an estimate by UBS, could pull interim...

  • NEW YORK, April 26- U.S. Steel Corp has launched a campaign to prevent imports from China's largest steel producers, it said on Tuesday, the boldest step yet by a U.S. company as a trade brawl with the world's largest steel producer escalates. The petition, known as Section 337 and used to protect against intellectual property theft, listed some of China's top...

  • NEW YORK, April 26- U.S. Steel Corp has launched a campaign to prevent imports from China's largest steel producers, it said on Tuesday, the boldest step yet by a U.S. company as a trade dispute with the world's largest industrial metal producer intensifies. In a complaint to the U.S. International Trade Commission, the U.S. steelmaker called on regulators to...

  • NEW YORK, April 26- U.S. Steel Corp has filed a complaint with U.S. regulators calling for an investigation into China's largest steel producers over alleged price fixing and circumvention of import duties, it said on Tuesday.

  • *Dalian iron ore falls 6 pct, Shanghai rebar down nearly 4 pct. *China has moved this week to crack down on price surge. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou increased trading margins and fees in response to last week's spike in prices and volumes, which some analysts said were not matched by fundamentals for the underlying commodities.

  • LONDON, April 26- Nearly 240 million tonnes of steel rebar traded on the Shanghai Futures Exchange last Thursday. That was equivalent to around a third of China's steel production last year, not just of construction-destined rebar but of every imaginable type of steel product. And if that sounds like a lot of steel, consider the fact that on March 10 this year...

  • SHANGHAI, April 26- Chinese firms have cancelled or delayed at least 99.5 billion yuan of planned bond issuance so far this month, as investor concerns over debt defaults mount. More than 100 firms have delayed or cancelled issues, according to data compiled from China's two main clearinghouses for the interbank market and the interbank market operator.

  • *Dalian iron ore falls 6 pct, Shanghai rebar down nearly 4 pct. MANILA, April 26- Iron ore and steel futures in China fell sharply on Tuesday after authorities raised transaction costs to cool last week's rapid gains in Chinese commodities, which had raised fears of an unstable speculative bubble forming. China's top commodity exchanges in Dalian, Shanghai and...

  • SHANGHAI, April 26- China's top steel making province will ban the reopening of steel mills that had been previously ordered to shut down, the official Xinhua News Agency reported on Tuesday, as soaring steel prices lure back producers. Hebei accounts for just under a quarter of steel production in China, by far the world's top steel producer and consumer.

  • *Dalian iron ore falls over 5 pct after hike in transaction cost. MANILA, April 26- Iron ore and steel futures in China fell back again on Tuesday after authorities raised transaction costs to cool rapid gains that had raised concerns that an unstable speculative bubble was forming. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou have...

  • Hong Kong shares also weakened, tracking regional markets, as investors braced for central bank policy meetings in the United States and Japan this week. Profits at China's state-owned firms fell 13.8 percent in the first quarter from a year earlier, the Ministry of Finance said on Tuesday. The Institute of International Finance estimated that global...

  • SAO PAULO, April 25- Latin American stocks fell on Monday at the start of Brazil's corporate earnings season, dragged down by lower commodities prices ahead of central bank meetings in the United States and Japan this week. Brazil's Bovespa stock index slipped nearly 2 percent, underperforming the broader MSCI Latin American stock index, as shares of miner Vale...

  • BRASILIA, April 25- Brazilian steelmaker Usiminas said on Monday it may raise prices further in Brazil if international steel prices continue to remain high.

  • LONDON, April 25- What is going on in China? That question looms largest of all in determining whether base metal prices have bottomed out. This is largely because what China is currently importing says more about supply than demand.

  • MANILA, April 25- Shanghai aluminum futures jumped 4 percent to their highest in nearly 10 months on Monday, tracking gains of the metal on the London Metal Exchange amid optimism on demand picking up in top consumer China. *The most-traded aluminum for June delivery on the Shanghai Futures Exchange rose as far as 13,075 yuan a tonne, its strongest since July 2,...

  • *EM miners, energy credits showing most distress. LONDON, April 22- Defaults among junk-rated emerging market companies are ticking higher, spelling danger for yield-seeking investors who may have been lured back to these assets by this year's price rallies in metals and oil. "You are seeing more distress, and defaults are rising," said Bill Perry, a fund manager at...

  • LONDON, April 22- Aluminium hit a fresh seven-month peak on Friday and copper touched its strongest in a month, but many analysts were wary that prices were stretched and could be due a correction lower with demand still patchy. Strong buying lifted metals in the European afternoon as stops were hit and speculators chased prices higher after they rallied on...