Metals and Mining Steel Producers

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  • *Britain could invest to help purchaser of Tata steelworks. *Opposition Labour Party says Britain faces steel "emergency". LONDON, April 12- Britain said it could offer state loans to tempt a private bid for Tata's loss-making Port Talbot steelworks as Prime Minister David Cameron scrambles to save at least 10,000 jobs thrown into jeopardy by a global steel...

  • SHANGHAI, April 12- Chinese state-owned steelmaker Sinosteel has once again postponed its deadline to pay off interest on 2 million yuan of enterprise bonds, the company said in a statement on the website of China's bond clearinghouse. The company became the first steel producer to default on domestic bonds on missing the initial deadline on Oct. 12, 2015 and...

  • STRASBOURG, April 11- France's economy minister on Monday sought to pressure the European Commission into raising import tariffs to similar levels as the United States to help Europe's ailing steel industry. France, Britain and Germany are among the countries that have already asked the Commission to help the steel industry, which is suffering from an import...

  • DUISBURG, Germany, April 11- Half of Germany's steelworkers poured onto the country's streets on Monday in protest against the dumping of Chinese steel, EU climate regulations and industry consolidation they fear will cost them their jobs. The size of the demonstrations, organised by powerful trade union IG Metall and supported by Economy Minister Sigmar...

  • LONDON, April 11- British business minister Sajid Javid said on Monday the government would consider co-investing on commercial terms to secure the sale of Tata's UK steelmaking assets. Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of steel, high costs, weak domestic demand...

  • LONDON, April 11- Business minister Sajid Javid said on Monday he was unable to promise that there would be no further job losses in the British steel industry, but that the government was doing all it could to protect workers. Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of...

  • DUISBURG, Germany, April 11- Tens of thousands of German steelworkers took to the streets on Monday, demanding more action against the dumping of cheap Chinese imports and greater job protection amid uncertainty over the future of Thyssenkrupp's steel business. More than 45,000 took part in protests throughout Germany, IG Metall said. Social Democrat Economy...

  • *Greybull deal saves more than 4,400 jobs in UK, 400 in France. As Tata formally announced the sale of its steel assets in Britain, turnaround specialist Greybull Capital LLP said it would buy the Indian company's Long Products Europe division in Scunthorpe, northern England, which employs 4,400. It declined to rule out further purchases of Tata's British steel...

  • DUISBURG, Germany, April 11- German steelworkers took to the streets on Monday, demanding more measures against the dumping of cheap Chinese imports and greater job protection amid uncertainty over the future of Thyssenkrupp's steel business. Germany is Europe's biggest steelmaker and 45,000 workers joined rallies across the country, the IG Metall union...

  • *Greybull deal saves more than 4,000 jobs. Greybull said it would buy Tata's Long Products Europe division in Scunthorpe, northern England, which employs 4,400, while the process to secure a buyer to save the Indian steelmaker's other major plant at Port Talbot in Wales also kicked off on Monday. Greybull said it was arranging a 400 million pound investment and...

  • TOKYO, April 11- Japan's core machinery orders fell 9.2 percent in February from the previous month, Cabinet Office data showed on Monday, in a sign that business investment remains subdued. That compared with a median estimate for a 12.4 percent decline. In January core orders rose 15.0 percent, inflated by large orders from the steel industry.

  • LONDON/ BEIJING, April 9- Britain asked China on Saturday to hurry up in tackling overcapacity in its steel industry, hoping to stem the flood of cheap imports into Europe which India's Tata Steel has blamed for its decision to pull out of the United Kingdom, putting 15,000 jobs at risk. Tata put its entire UK business up for sale last month, including its flagship...

  • LONDON, April 9- Britain asked China to tackle over-capacity in its steel industry on Saturday, hoping to stem the flood of cheap imports into Europe which India's Tata Steel said caused it to pull out of the United Kingdom, putting 15,000 jobs at risk. Tata put its entire UK business up for sale last month, including steel works at Port Talbot in south Wales, saying it...

  • NEW YORK, April 8- The steep decline and subsequent rebound in the U.S. stock market over the first three months of the year were a boon to U.S. small cap managers, who took advantage of what some considered a short window of low prices to add shares in companies ranging from retailers to steel makers. Towle's fund added seven positions to its portfolio of 35 stocks in...

  • LONDON, April 8- Britain's industrial output shrank at the fastest rate in more than three years in the three months to February and the trade deficit ballooned to its widest in eight years, data showed on Friday, adding to worries of a broader economic slowdown. Some of these dangers now appear to be materialising, with industrial output-- which makes up 15 percent...

  • NEW DELHI, April 8- India's steel ministry is considering appealing to Prime Minister Narendra Modi to back a proposal to toughen up anti-dumping rules to tackle a flood of cheap imports threatening its steel industry, a government source said. India is among a number of countries and groups such as the European Union weighing up taking further measures...

  • The problems facing Europe's steel makers

    Chinese exports are a factor in the European steel industry's downturn, according to Alessandro Abate, head of metals & mining at Berenberg.

  • *EU, Ukraine have huge stake in making treaty work. GORODOK, Ukraine, April 8- Ukraine's Association Agreement with the European Union was meant to lure the bread basket of the former Soviet Union away from its longstanding ties with Russia by offering better access to the EU market. The disruption sent exports to Russia into freefall and depressed sales to the...

  • *Wants competitive power prices from UK government. MUMBAI, April 7- Sanjeev Gupta, the boss of metals trader Liberty House Group who wants to buy Tata Steel Ltd's loss-making British operations, says he has the financial resources to match his ambitions. Hitting back at critics who have questioned his capacity to take on a business dragged down by heavy debt and...

  • April 7- U.S. agricultural commodities trader Cargill Inc said on Thursday its profit rose 8 percent, boosted by stronger results in food ingredients and grain handling which offset losses in its beef, oil and shipping businesses. Minneapolis- based Cargill said net earnings totaled $459 million for the quarter ended Feb. 29, up from $425 million in the same...