Metals and Mining Steel Producers

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  • *Break above $1,790 in zinc to spur further buying. Investor buying lifted industrial metals along with oil and equity markets, including shares in China, the world's top consumer of metals. Three-month zinc on the London Metal Exchange climbed 2 percent to $1,778.50 a tonne by 1040 GMT, the strongest since Oct. 23, extending near 3 percent gains on Friday.

  • MILAN, Feb 22- European shares were higher in early trading on Monday following gains in Asia, and helped by a recovery in the prices of crude oil and other commodities. Miners were the top sectoral gainer, up 2.3 percent, after copper rose to its highest level in over two weeks as an uptick in China's beleaguered steel industry sparked hope for a revival in metals...

  • MELBOURNE, Feb 22- London copper rose to its highest in more than two weeks on Monday as the resignation of the head of China's securities regulator and an uptick from the country's beleaguered steel industry sparked hope for metals demand. China's major stock indexes opened higher on Monday, as investors welcomed news over the weekend that Xiao Gang, chairman...

  • MELBOURNE, Feb 22- London copper rose to its highest in nearly two weeks on Monday after the resignation of the head of China's securities regulator, and an uptick from the country's bealeagured steel industry, sparking hope for metals demand. *Shanghai Futures Exchange copper rallied 0.9 percent to 36070 yuan a tonne. *Iron ore prices rallied nearly 5 percent on...

  • HONG KONG, Feb 19- Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world's busiest sea routes. We have been hit by a perfect storm- huge order books, China slowdown, the end of quantitative easing, lurking European monetary...

  • LONDON, Feb 19- Liberty Steel has expanded its investment in the troubled UK steel sector by buying a second plant, but warned it could move planned work overseas if it could not secure a reliable and affordable energy supply. Sanjeev Gupta, executive chairman of Liberty Group, said his hope was to move equipment from the plant to Wales to increase steelmaking at...

  • LONDON, Feb 19- The U.S. oil and gas industry has lost around 100,000 jobs over the last 16 months, according to the U.S. Bureau of Labor Statistics. Employment losses worldwide are probably at least double that figure. And these are only people employed directly by oil and gas producers, drilling contractors and other oilfield services firms.

  • RIO DE JANEIRO, Feb 18- Brazilian miner Vale SA produced record amounts of iron ore, nickel, copper, cobalt and gold as it battled a slump in global metals prices by boosting output in search of greater market share. Vale and its rivals are betting on their lower costs and higher volumes pushing out smaller rivals and stabilizing prices even as demand slows in China,...

  • RIO DE JANEIRO, Feb 18- Brazilian miner Vale SA produced record amounts of iron ore, nickel, copper, cobalt and gold as it battled a slump in global metals prices by boosting output in search of greater market share. Fourth-quarter iron ore production rose 2.4 percent year on year to 88.4 million tonnes, its largest ever fourth-quarter total, the company said on...

  • MELBOURNE, Feb 18- Australia has asked its anti-dumping regulator to fast track advice on whether swelling shipments of steel and aluminium from some Asian countries, including China, have unfairly hurt local businesses, industry minister Christopher Pyne said. China is the world's top manufacturer and consumer of steel and aluminium, but a huge...

  • SAO PAULO, Feb 17- Usinas Siderúrgicas de Minas Gerais SA's board on Wednesday declined to discuss a capital injection and a refinancing deal with banks to help the struggling steelmaker but will consider the proposals on March 3, two sources with direct knowledge of the matter said. At stake is the survival of Usiminas, which was founded 53 years ago to help...

  • SAO PAULO, Feb 17- Management at Brazilian steelmaker Usiminas will propose a capital increase of 1 billion reais to its board of directors on Wednesday, newspaper Estado de S. Paulo reported, citing sources close to the company. Representatives at Brazil's largest listed flat steelmaker, known formally as Usinas Siderúrgicas de Minas Gerais SA, could not...

  • *China's economic fundamentals unchanged- state planner. The string of assurances comes ahead of two high-profile political events for China: a meeting of G20 finance chiefs in Shanghai later this month and next month's annual gathering of China's legislature- where the next five-year economic development plan will be finalised. "China's economic...

  • *Mills' plight highlights Pakistan privatisation struggles. KARACHI, Feb 17- Once the producer of almost half the country's steel needs, state-owned Pakistan Steel Mills' cavernous factory buildings on the outskirts of Karachi stand eerily still. The company has $3.5 billion in debt and accumulated losses, loses $5 million a week and has not produced steel at...

  • BRASILIA, Feb 16- Brazil will accept payment from Iran in euros and other currencies for planes, cars and machinery to sidestep lingering U.S. sanctions on the oil-rich nation, Trade Minister Armando Monteiro told Reuters on Tuesday. Monteiro is the first Brazilian official to confirm that Latin America's biggest economy could accept payment in currencies...

  • BRAZIL'S MONTEIRO SAYS GOV'T COULD ANALYZE NEW CREDIT LINES FOR STEELMAKERS TO INCREASE EXPORTS.

  • "I wouldn't consider it a turning point- that would be too optimistic," Heinz Joerg Fuhrmann said on the sidelines of the Stahlmarkt 2016 steel industry conference in Duesseldorf. Fuhrmann ruled out Salzgitter taking part in any consolidation of Europe's steel industry despite dire conditions caused largely by cheap Chinese imports, which industry chiefs...

  • LAUNCESTON, Australia, Feb 16- China's imports of major commodities presented a "steady-as-she-goes" picture in January, which doesn't sound that exciting but should go some way to hosing down some of the more alarmist fears over the state of the world's second-biggest economy. Worries flared over China's currency valuation, credit risks and capital outflows,...

  • *Tumbling commodity prices hit Indonesia hard. CILEGON, Indonesia, Feb 16- At a factory surrounded by towering steel mills on the west side of Indonesia's Java island, German engineering giant Siemens is ramping up production of steam condensers, turbines and other specialist parts to fit out power stations across the world. The plant, a small repair shop 30 years...

  • BRUSSELS, Feb 15- Thousands of steel workers marched through Brussels on Monday to demand the European Union maintain its defences against cheap Chinese imports, which industry chiefs said were destroying jobs and the environment. The Commission is scheduled to propose later this year whether to grant China market economy status, which Beijing says is its...