Metals and Mining Steel Producers

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  • 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...

  • 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...

  • LAUNCESTON, Australia, Feb 15-- "We don't run our business on hope, we run it with foresight and focus." This focus is helping the world's number two producer of the steel-making ingredient keep underlying earnings positive, even though the spot price of iron ore in Asia Feb. 12, barely one-fifth of what it fetched at its peak in 2011.. Walsh did state that Rio has...

  • BEIJING, Feb 15- China's iron ore imports rose 4.6 percent in January from the same time last year to 82.19 million tonnes, as domestic steel mills replenished inventories with cheap overseas supplies, customs data showed on Monday. Iron ore for immediate delivery to China's Tianjin port fell more than 3 percent in January, after prices tumbled 40 percent in...

  • BEIJING, Feb 14- China's commerce ministry has expressed its concern over European Union's anti-dumping investigations into Chinese steel products and said that trade frictions should be solved through dialogue. The European Union on Friday launched investigations into whether Chinese seamless pipes, heavy plates and hot-rolled flat steel were being...

  • London, Feb 12- Copper gained on Friday along with oil and shares after upbeat U.S. data offered hope of a rebound in economic growth, but metals investors were on edge ahead of the reopening of Chinese markets next week. Federal Reserve raising interest rates despite signs of an economic slowdown in the United States. However, Fed Chair Janet Yellen on Thursday...

  • Britain, France and Germany are among the countries to have asked the European Commission to help Europe's steel industry, which is suffering from falling prices and cheap imports from China and Russia. On Friday, the European Commission announced investigations into whether seamless pipes, heavy plates and hot-rolled flat steel are sold into Europe at...

  • *India spends more than $4 bln on annual coking coal imports. NEW DELHI, Feb 12- India is asking the country's big steelmakers to consider converting local medium-quality coal into premium coking coal to slash an annual import bill of more than $4 billion for buying that grade from countries such as Australia and South Africa. Resurgent local output of...

  • BRUSSELS, Feb 12- European Union regulators opened three new anti-dumping investigations into Chinese steel products on Friday, responding to calls from European industry for protection from cheap imports that they blame for thousands of job losses in Europe. The EU executive also announced provisional anti-dumping duties on cold-rolled flat steel from...

  • *Traders wait for China to reopen with nervousness. London, Feb 12- The price of copper rose on Friday along with oil and European shares on expectations of dovish comments from a senior U.S. Benchmark copper on the London Metal Exchange was trading up 0.7 percent at $4,478 a tonne at 1117 GMT but is on track for its biggest weekly drop in a month.

  • LAUNCESTON, Australia, Feb 11-- When is a bull market not a bull market? The Dec. 11 trough of $37 a tonne was actually the lowest recorded since spot assessments began in late 2008.. The close on Wednesday of $44.50 means iron ore is a mere $7.50 away from the all-time low, with the modest gains in absolute terms providing context to the more impressive percentage rise.

  • VIENNA, Feb 10- Austria's Voestalpine expects duties on cheap imports to take the pressure off Europe's steel industry this year following its worst downturn in about a decade. European steel companies are struggling to cope with sharp price falls and growing overcapacity as China and Russia are accused of exporting massive quantities at artificially low...