LONDON, Nov 25- Copper prices fell on Wednesday as bearish sentiment due to an oversupplied market and weak demand growth from top consumer China was reinforced by a stronger dollar. Economic and manufacturing slowdown in China, which accounts for about half of global copper consumption estimated at around 23 million tonnes, has seen demand growth rates slide...» Read More
BlueScope Steel, Australia's largest steelmaker, posted a net loss before restructuring charges in line with market forecasts as it overhauled its Australian business, and slashed hefty debt levels and said its second-half loss should be smaller.
India's Tata Steel, the world's No.7 steelmaker, posted an unexpected quarterly loss, its first in more than two years, as higher raw material costs and weak demand in Europe hurt margins.
China’s steelmakers will see a rebound this year thanks to weakening iron ore prices and potential policy easing in the property sector, Helen Lau, senior analyst metals and mining at UOB Kay Hian in Hong Kong, told CNBC on Wednesday.
China's steelmakers have racked up $400 billion in debt, which some may struggle to repay, making them a potential drag on a banking sector already facing rising bad loans from the property sector and local governments.
America’s infrastructure can and should be built with American steel. That is why current Buy America provisions are so important, and why efforts to circumvent these provisions, such as California used in the Bay Bridge project, need to be stopped.
The coming of the next “big one” led to the use of Chinese steel in the rebuilding of a national icon - one of the busiest bridges in the world: The San Francisco-Oakland Bay Bridge. Looming natural disasters, willful neglect and infirmity of America’s infrastructure demand our rebuilding. Reconstruction, however, is going to require Sino steel.
The FMHR traders break down today's headlines: the major indices are positive, the consumer sentiment, and jobless claims. Also, sharing perspective on JNPR, with Brian Marshall, ISI Group analyst.
Shares of Schnitzer Steel are getting slammed today after the company reported they expect Q1 results to be lower than outlook. Also, gold is hurting to hold onto early gains and US homebuilders confidence rose for the third consecutive month today. CNBC's Fast Money traders and Dan Dicker, Merblock president weigh in.
The main topic of discussion this morning was Mario Draghi's interview in the Financial Times, where he warned that any country trying to leave the euro zone would still face austerity measures and would be "in a much weaker position." He reiterated no increase in the current bond buying program, and no printing money.
The “Mad Money” host answers his “Mad Mail and reports back on some viewer questions from earlier in the week.
Ephrem Ravi, Head of Metals & Mining Sector, Asia Ex-Japan Equity Research at Barclays Capital says there is over-capacity in the steel industry, though value investors may find bargains in some steel stocks.
Edward Meng, CFO of China Gerui Advanced Materials Group says the company is seeing very strong demand despite the slowdown in China because the firm makes make high quality, specialty steel.
Seasonal uptick in steel stocks makes it worth looking at for December, Fast Money pros say.
The following are some of the mid-day’s biggest movers. Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!
Nucor Corp. is one of the largest steel producers in the US, and pays a healthy four percent yield, says Mad Money's Jim Cramer. Discussing what's ahead for the steelmaker, with Dan DiMicco, Nucor CEO.
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We pulled together a list of Jim Cramer's favorite dividend plays. Read on and pick one or two for your portfolio.
In this market, you need names that pay dividends, Cramer says, and this stock is one on his buy list.
Nucor Corporation is a best of breed steel maker with a juicy dividend, says Mad Money's Cramer. This is a classic cyclical stock that's paying investors to wait for things to get better, and it belongs in your portfolio.
The Fast Money traders weigh in on AK Steel's downgrade, and Deborah Weinswig, Citigroup provides insight on the retail sector.