Metals and Mining Steel Producers

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  • LONDON, April 5- The British government opened talks on Tuesday with potential buyers for Tata Steel's UK operations, including Sanjeev Gupta's commodities company Liberty Group, as it stepped up its battle to find a buyer for the loss-making business. Britain's business minister Sajid Javid was later due to fly to Mumbai to meet Tata Chairman Cyrus Mistry to...

  • *FTSEurofirst 300 touch lowest since Feb. 26. MILAN/ LONDON, April 5- European shares fell on Tuesday to touch their lowest level in almost six weeks, led lower by German stocks after industrial orders in Europe's biggest economy unexpectedly dropped. Germany's DAX fell 2.3 percent, underperforming a 1.7 percent drop for the pan-European FTSEurofirst 300 which...

  • LONDON, April 5- Support for Britain to stay in the European Union rose in the last month, suggesting a crisis in the steel industry and attacks in Brussels have not boosted the campaign for an exit, according to an ORB poll for the Daily Telegraph. Support for the "In" campaign was up by four percentage points compared to a similar poll carried out last month, which the...

  • *Sale will allow Vale to focus on core mining businesses. SAO PAULO/ FRANKFURT, April 5- Brazilian miner Vale SA has agreed to sell its 27 percent stake in the struggling CSA steel plant to Germany's Thyssenkrupp for a token sum, the two parties said, confirming a Reuters report from Friday. Thyssenkrupp will become the 100 percent owner and have a free hand to do what...

  • TOKYO, April 5- Japan's crude steel output for April-June will fall 2.4 percent from a year earlier to the lowest for the quarter in seven years, the government said on Tuesday. That would come as the latest in a series of signals of economic slowdown, clouding the outlook for Prime Minister Shinzo Abe's drive to reflate the economy and spurring calls for more...

  • SAO PAULO, April 4- Brazilian miner Vale SA said on Monday it will sell its entire 26.87 percent stake in the struggling CSA steel plant to Germany's ThyssenKrupp for a token value, in a bid to focus on core mining businesses with commodity prices at historic lows. The CSA plant cost $10 billion to build and was Brazil's most expensive ever foreign investment...

  • BEIJING, April 3- Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel...

  • LONDON, April 3- Britain said on Sunday that UK steel producers must be considered for infrastructure and other government contracts involving steel supplies, as part of plans to find a long-term solution to a crisis in the industry. "By changing the procurement rules on these major infrastructure projects we are backing the future of UK steel- opening up...

  • PORT TALBOT, Wales/ LONDON April 3- The closure of Tata Steel's operations in Britain would leave a hole in manufacturers' supply chains, dealing a blow to thousands of smaller firms across the country and creating a logistical headache for the car industry. India's Tata Steel, Britain's biggest producer, put all of its operations up for sale, including the...

  • LONDON, April 3- Britain said on Sunday that all public sector contracts that involve steel supplies must specifically consider UK steel companies as part of plans to find a long-term solution for the country's steel industry. "By changing the procurement rules on these major infrastructure projects we are backing the future of UK steel- opening up...

  • LONDON, April 2- Britain's Prime Minister David Cameron wants Britain and China to work together to tackle over-capacity in the steel industry and that the G20 could be a good forum to address it later in the year, his spokesman said on Saturday. Steelmakers in Britain pay some of the highest energy costs and green taxes in the world, but the government says the...

  • NEW YORK/ SAO PAULO, April 1- Brazilian iron ore miner Vale SA is finalizing a proposal to sell its 26.87 percent stake in a steel slab plant that cost nearly $10 billion to build to Germany's Thyssenkrupp for $1 plus the assumption of some debt, a source close to the deal said. The plant, Brazil's most costly foreign investment project ever, reported 2.6 billion euros...

  • *Tata put UK steel ops up for sale this week. FRANKFURT/ DUESSELDORF, April 1- India's Tata Steel and Germany's Thyssenkrupp have been talking about combining their European steel operations, a person aware of the talks said on Friday. German newspaper Rheinische Post reported earlier on Friday that Tata Steel was in advanced talks to buy a stake in...

  • US Steel CEO: Our industry can't compete with level playing field

    Mario Longhi, CEO of U.S. Steel, talks about the state of manufacturing in the U.S. and the steel sector in China.

  • FRANKFURT, April 1- German engineering exports to the United States, their top destination, are likely to slow sharply this year due to drastically lower fracking investments, a weaker global economy and a more stable exchange rate, an industry association said. The United States became the biggest market for German engineering exports last year, with sales...

  • *FTSEurofirst 300 index falls over 2 percent. LONDON, April 1- European equities tumbled to a one-month low on the first trading day of the quarter on Friday, with energy stocks hit by weaker oil prices while Osram retreated after it was dropped from Apple's top supplier list. "More dollar weakness seems likely for now, which could have a negative effect on European...

  • The announcement that India's Tata Steel is abandoning Britain has hammered home the threat to developed countries' steel industries from a glut caused by over-capacity in China, which has led to a collapse in the global price of commodity steel used mainly in construction. Firms from Europe, Japan and South Korea say they are trying to keep afloat by...

  • SYDNEY, April 1- Copper futures were slightly firmer on Friday following an overnight spurt of end-of-quarter selling. *The most-traded copper contract on the Shanghai Futures Exchange rose 0.33 percent to 37,000 yuan a tonne. *Guinea and Burkina Faso plan to take back hundreds of unused mining permits for re-auction, ministers said this week, as governments...

  • SHANGHAI, April 1- Activity in China's manufacturing activity unexpectedly expanded in March for the first time in nine months, an official survey showed on Friday, adding to hopes that downward pressure on the world's second-largest economy is easing. However some economists said the timing of the long Lunar New Year holiday that month might have distorted...

  • BRASILIA/ SAO PAULO, March 31- Brazilian prosecutors on Thursday charged Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving tax debts. Safra, who alongside his family owns Banco Safra SA and a number of private-banking institutions including Switzerland's J Safra Sarasin,...