Metals and Mining Steel Producers

  • Thyssenkrupp reduces full year guidance

    Guido Kerkhoff, CFO of Thyssenkrupp, explains why the steel producer has cut its profit forecast on the back of falling earnings.

  • Pisani: China growth still an issue

    CNBC's Bob Pisani looks at market action today as commodity issues in China are affecting the materials sector in the U.S.

  • *Mining shares hit by weak China data. LONDON, May 9- Britain's top share index closed lower on Monday, extending its biggest weekly drop since February, as a slump in mining stocks outweighed a rally in travel and leisure stocks. The UK mining index slumped 7.9 percent on poor China trade data and a stronger dollar.

  • *Stainless steel mills unconvinced by China industrial activity. LONDON, May 9- Copper hit its lowest in nearly a month on Monday as weak trade data from top consumer China highlighted poor demand growth prospects and the dollar rose after a Fed official kept rate hike expectations intact. Benchmark copper on the London Metal Exchange was down 1.8 percent at...

  • SHANGHAI/ SINGAPORE, May 9- Chinese commodities dived on Monday, led by 6 percent falls in steel and iron ore futures, as deepening worries about China's demand extended a fortnight of sharp drops and false rebounds in the country's market for industrial metals. Speculative funds rushed into China's commodities futures last month, betting the country's...

  • Speculative funds had rushed into China's commodities futures last month, betting that the country's economy was bottoming out, alarming exchanges and regulators who feared a new bubble was forming as volumes and prices soared. China's three commodity exchanges have taken a string of aggressive measures, including raising trading margins, daily movement...

  • LONDON, May 6- Nickel prices bounced on Friday as the dollar slid, but the market is braced for another sell-off by funds reversing bets on higher prices, with expectations of an oversupplied market adding to the pressure. Benchmark nickel on the LME ended up 0.5 percent at $9,065 a tonne. Nickel gained more than 11 percent last month on speculation over the...

  • MOSCOW, May 6- Russian steelmaker MMK will use funds it is to receive from selling part of its stake in Australian iron ore company Fortescue to repay debt over 2017-2019, Chief Financial Officer Sergey Sulimov said on Friday.

  • *FTSEurofirst 300 down around 1 pct. LONDON, May 6- European shares fell on Friday, with steelmaker ArcelorMittal and hedge fund Man Group among the worst performers. Man Group slumped 8.5 percent after Citigroup cut its rating on the stock to "sell" from "buy."

  • LONDON, May 6- Nickel held near two-week lows on Friday as the market braced for another sell-off by funds reversing bets on higher prices, while expectations of an oversupplied market added to the pressure. Benchmark nickel on the London Metal Exchange was unchanged at $9,020 a tonne at 1112 GMT. Nickel gained more than 11 percent last month on speculation of...

  • MOSCOW, May 6- MMK, one of Russia's largest steelmakers, said it expected better financial results in the second quarter after reporting a 39 percent drop in first-quarter core earnings on Friday due to weak domestic demand and low prices. MMK shares were up 1.7 percent at 0950 GMT, outperforming Moscow's broader MICEX index, which was down 0.7 percent.

  • *Shanghai rebar has worst week since 2009 launch. *Concern that optimism over China's economy fading. Commodities linked to China's steel sector, which led the mid-April rally, were the hardest hit on Friday, on worries that demand in the world's biggest steel consumer could soon wane.

  • *Asia ex- Japan shares poised for biggest weekly drop in 12 weeks. LONDON, May 6- Stock markets in Europe and Asia struggled on Friday and only monthly U.S. nonfarm payrolls numbers stood in the way of shares globally racking up their biggest falls since mid-February. Stock markets in Europe lost half a percent in the first hour of trade, weighed down by a 4 percent fall...

  • *Nudges up forecast for China, cuts forecast for Brazil. BRUSSELS, May 6- ArcelorMittal, the world's largest steelmaker, said on Friday it was slightly more positive about the steel market, helped by a modest improvement in prospects for China, though it kept its forecast for 2016 earnings unchanged. Steelmakers worldwide have been battered by a plunge in prices...

  • China dominates global steel industry: Kallanish

    When it comes to steel, are the Chinese dumping in Europe or not? Kallanish director, Paul Mullins weighs in.

  • *Concern that China's steel demand could soon wane. Commodities linked to China's steel sector, which led the mid-April rally, were the hardest hit, deepening this week's losses as concerns emerged that demand in the world's biggest steel consumer could soon wane. The price declines suggest that Chinese exchanges have succeeded in popping the bubble, at least...

  • May 5- Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui, Bloomberg reported. The sale process is already underway, Bloomberg reported, citing two people with direct knowledge of the matter. Rotterdam- based Louis...

  • *Dalian iron ore, Shanghai rebar down for third day. Mixed signals on China's economic health have also weighed on sentiment, breaking earlier perceptions that the world's second-largest economy had stabilized. Trading volumes have tapered off from record highs hit in April after China's securities regulator told commodity exchanges in Shanghai, Dalian...

  • WASHINGTON, May 4- The U.S. Commerce Department on Wednesday said it would slap preliminary duties on imports of welded stainless pressure pipe from India after finding the goods were being dumped in the U.S. market at below market prices. The preliminary decision came in response to a complaint brought last year by Bristol Metals, a subsidiary of U.S. steel...

  • WASHINGTON, May 4- The U.S. Commerce Department on Wednesday said it would slap preliminary duties on imports of welded stainless pressure pipe from India after finding the goods were being dumped in the U.S. market at below market prices.