Metals and Mining Steel Producers

  • BRASILIA, May 10- Brazilian stocks and the real jumped on Tuesday as impeachment proceedings against leftist President Dilma Rousseff got back on track, fueling optimism that a new pro-market administration could take over on Thursday. On Tuesday, Attorney General Eduardo Cardozo, the government's top lawyer, asked the Supreme Court to annul impeachment...

  • XIANGFEN COUNTY, China, May 11- When falling commodity prices and listless demand forced China's Shanxi Zhongsheng Steel Co Ltd to close in October, it was sitting on roughly enough unsold steel to lay high-speed train tracks from San Francisco to the Mexican border. China supplies half the world's steel and despite global oversupply, produced a record amount...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares. JSW Steel said in a statement it was evaluating UK steel assets...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed, worrying bankers about its high debt levels and pulling down JSW shares on Tuesday. Mumbai- based JSW Steel unsuccessfully bid in 2014 to buy some assets...

  • *Iron ore in Dalian down more than 4 pct at close. Retail buyers rushed into China's commodities futures in April, hoping a stabilizing economy would boost demand for raw materials, lifting prices and volumes of everything from steel to cotton. China's main commodity exchanges in Dalian, Shanghai and Zhengzhou have since imposed measures to rein in speculative...

  • 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.