Metals and Mining Steel Producers

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  • *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,...

  • BRASILIA, March 31- Brazilian prosecutors charged Joseph Safra, ranked as the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving up to $500 million in corporate tax debts, the prosecutors' office said in a statement on Thursday. Safra, the majority owner of the Brazilian bank Banco Safra SA, was...

  • *China consider developing CDS market- sources. *More bond defaults being allowed in China, but cautiously. SHANGHAI, March 31- In a sign China is exploring ways to allow more bond defaults without destabilizing the market, a state body has circulated plans to introduce credit-default swaps and other derivatives, sources said, so investors can hedge risk in its...

  • BRASILIA, March 31- Brazilian prosecutors charged Joseph Safra, the world's richest banker, in connection with an alleged scheme to pay bribes to government officials in return for waiving $500 million in corporate tax debts, the prosecutors' office said in a statement on Thursday. Safra, the majority owner of the Brazilian bank Banco Safra SA, was not directly...

  • LONDON/ PORT TALBOT, Wales, March 31- Prime Minister David Cameron said there was no guarantee a buyer could be found for Britain's biggest steel producer after Tata Steel announced it was pulling out, and a state takeover was not the answer. Tata's biggest plant in Port Talbot, south Wales, is losing around $1.4 million a day as a result of depressed steel prices and...

  • *Comes at a time when China facing anti-dumping complaints. BEIJING/ SHANGHAI, March 31- China's top listed steelmaker Baosteel expects output this year to rise about 20 percent, even as the country steps up efforts to slash a huge overcapacity that has boosted cheap exports and caused some producers elsewhere to shut. "Of course China is the epicentre where...

  • LONDON, March 31- British Prime Minister David Cameron will hold an emergency meeting to tackle the crisis hitting the country's steel industry on Thursday after India's Tata Steel said it would pull out, putting thousands of jobs at risk. The move leaves 15,000 workers at plants including the country's largest steel works in Port Talbot, south Wales, facing an...

  • March 31- Japan plans a wave of new coal-fired power stations as the country's electricity retail market opens up from April 1, allowing new entrants to compete for a market of 85 million customers with sales of about $70 billion. In the biggest shakeup in the industry's history in Japan, regional utilities are losing their monopoly rights for the most lucrative...

  • BEIJING/ SHANGHAI, March 31- China's top listed steelmaker Baoshan Iron and Steel Co. Ltd expects its total output to rise about 20 percent in 2016, even as the country steps up efforts to slash a massive capacity glut amid a rise in anti-dumping complaints. Total steel capacity in China is estimated at around 1.2 billion tonnes and is expected to further...

  • SHANGHAI, March 31- China stocks held steady on Thursday morning after the previous session's 2 percent jump, as markets took comfort in the likely prospect that U.S. interest rates will rise at a slower pace. Federal Reserve Chair Janet Yellen's remarks earlier in the week that the United States should proceed cautiously as it looks to raise rates continued to...

  • SHANGHAI, March 31- China's top listed steelmaker Baoshan Iron and Steel Co. Ltd said its total output will rise about 20 percent in 2016, even as the government steps up efforts to cut capacity amid a rise in anti-dumping complaints. Total steel capacity in China is currently estimated at around 1.2 billion tonnes and that is expected to further increase this...

  • *Shedding UK could enable Tata Europe-Thyssenkrupp merger. Since the multi-billion-euro takeovers of Europe's Arcelor and Corus by Indian giants Mittal and Tata in 2006 and 2007, dealmaking in Europe's steel industry has been all but paralysed as cash-starved producers battled the global economic crisis and a slowdown in China that encouraged it to...

  • LONDON, March 30- British business minister Sajid Javid said he did not think that Tata Steel's British steel-making assets should be nationalised and there was more that the European Union could do to help the industry via import tariffs. Javid told BBC television that the steel industry had asked for higher import tariffs and the EU had responded.