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Metals and Mining Steel Producers

  • *One case involves steel shipments diverted via Vietnam. *Vietnam says ready to work with EU anti-fraud office. But according to a filing on the Vietnamese trade ministry's website, OLAF is investigating 190 cases of Chinese coated steel coils that arrived in Portugal, Spain and Poland from Vietnam in 2013-2014..

  • *Q2 core profit $1.90 bln vs Reuters poll $1.97 bln. BRUSSELS, Nov 8- ArcelorMittal warned of slower earnings this quarter citing higher coal prices and lower U.S. steel prices after the world's largest steel producer missed core third-quarter profit expectations on Tuesday. Prices for Australian premium hard coking coal have surged to $250 per tonne from...

  • TOKYO, Nov 8- Nippon Steel& Sumitomo Metal Corp, the world's third-biggest steelmaker, does not expect coking coal prices to fall any time soon as China's steelmakers maintain high output while the country's coal producers trim supply, an executive said. Prices of coking coal and coke, which typically account for 20 percent of steel production costs, have rallied...

  • BEIJING, Nov 8- China's imports of commodities slowed to the lowest in months in October, as a week-long holiday closed factories, a weakening currency made foreign raw material more expensive and higher prices for products like crude oil hurt demand, analysts said. China's total exports and imports were lower than expected, adding to the doubts about a pick up in...

  • BEIJING, Nov 8- China's exports and imports fell more than expected in October, with weak domestic and global demand adding to doubts that a pick-up in economic activity in the world's largest trading nation can be sustained. Indeed, China's imports of iron ore, crude oil, coal and copper all fell in October, after its robust demand drove global prices of many major...

  • The probe will determine whether imports of hot-rolled and cold-rolled steel made in China that is further processed in Vietnam are circumventing previous anti-dumping and anti-subsidy duties on Chinese steel, the Commerce Department said in a filing with the International Trade Commission. The move adds a new twist to heightened trade tensions between...

  • *China blast furnaces operating at 4- month low rate- Custeel.com. *Jiangsu Shagang Group suspends a rebar output line- Custeel.com. In Tangshan, a major steel-producing city in China's Hebei province, furnaces were running at 84 percent of capacity last week, versus around 90 percent in August, the data shows.

  • SYDNEY, Nov 7- London copper eased in early trading on Monday on a stronger U.S. dollar and a shift into U.S. equities, but the Shanghai futures contract started firmer. *The most-traded copper contract on the Shanghai Futures Exchange rose 0.48 percent to 39,380 yuan a tonne. *Japan's Mitsubishi Corp raised its full-year net profit forecast by 32 percent as it...

  • BERLIN, Nov 5- German Economy Minister Sigmar Gabriel called for a resumption of long-stalled efforts to negotiate a global free trade accord on Saturday, warning that a proliferation of bilateral trade deals could lead to varying standards and rules. Gabriel welcomed an offer made by China during his visit to begin intensive discussions with Germany and the...

  • LAUNCESTON, Australia, Nov 4- Rio Tinto's decision to quit the world's largest undeveloped iron ore deposit in Guinea is essentially a bet on how quickly and cheaply the new Chinese owners can develop the mine. Investors have generally welcomed the sale of the Simandou project by Rio to Chinese metals producer Chinalco for between $1.1 billion and $1.3 billion,...

  • SYDNEY, Nov 4- Insolvent Australian industrial group Arrium Ltd's U.S. based Moly-Cop division has been sold to private equity firm American Industrial Partners for $1.23 billion, two sources close to the deal said, ending a drawn out sale process. Moly-Cop, which makes steel balls to grind ore and operates mostly in the United States and Latin America, also...

  • FRANKFURT, Nov 3- German steelmaker Salzgitter said on Thursday its nine-month pretax profit was at the bottom end of analysts' forecast range, with the summer quarter hampered by maintenance and repair work and a seasonal decline in demand. The company said it made a pretax profit of 21 million euros in the period, compared with its own poll of analysts which...

  • SYDNEY, Nov 2- An odd mix of policy action in China and policy failure at home is proving an unlikely tonic for Australia's growing budget deficit, perhaps even enough to forestall a near-term downgrade of the country's pristine AAA credit rating. The conservative government of Malcolm Turnbull has been scrambling to placate ratings agency S&P Global Ratings...

  • TOKYO, Nov 1- Nippon Steel& Sumitomo Metal Corp posted a plunge in profits for the six months to September, but the top steelmaker of Japan defied estimates by retaining its annual outlook at a time when higher raw material costs have led to a cut by others. "Looking at the recent orders from customers, we see solid demand in auto and construction segments in Japan...

  • SAO PAULO, Oct 28- Brazilian stocks rose 0.5 percent on Friday, with shares of steelmaker Usinas Siderúrgicas de Minas Gerais SA leading gains after cost-cutting measures sharply narrowed its quarterly loss. Usiminas, as Brazil's largest flat steelmaker is commonly known, posted a third-quarter net loss of 107 million reais, compared with a year-earlier...

  • TOKYO, Oct 28- Japan's second-biggest steelmaker JFE Holdings Inc halved its full-year profit forecast on Friday, blaming the recent surge in prices for coking coal. JFE, the world's No.8 steelmaker in 2015, now expects its annual consolidated recurring profit for the current financial year to come in at 30 billion yen, down from its previous estimate of 65...

  • MUMBAI, Oct 27- Tata Steel Ltd's plans for its European steel business are unchanged and the debt-laden firm is still seeking a partner for a joint venture to run the assets, according to a source present at a closed-door analyst briefing on Thursday. The process was suspended in July because of uncertainty over Britain's vote to leave the European Union.

  • SHANGHAI, Oct 27- China is set to hit its 2016 target for crude steel capacity cuts by late October, with additional reductions expected in the last two months of the year, an industry association said on Thursday. A worldwide steel glut has stoked trade disputes between China, the world's top maker of the construction material, and other producers such as the...

  • *China to step up copper imports by year-end. Benchmark copper was unchanged at $4,736 a tonne, following a 2.1 percent advance on Tuesday, when prices hit a two-week high on talks of further fiscal stimulus by top consumer China, which could lift demand for most metals. China is expected to step up copper imports in the coming months as a weaker yuan opens up...

  • *Q3 profit at 1.03 trillion won vs 652 billion won year ago. POSCO, the world's fourth-biggest steelmaker in 2015, said on Wednesday that its consolidated operating profit rose to 1.03 trillion won in the third quarter, up from 652 billion won a year earlier and its strongest quarterly result since the second quarter of 2012.. Steel prices in China, the world's...