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Metals and Mining Steel Producers

  • MELBOURNE, March 22- London copper dropped with other commodities on Wednesday as investors shunned risk on doubts over the economic agenda of U.S. Concerns that the U.S. would not push through corporate tax cuts as promised before the election pulled down stocks in Asia, with the negative sentiment spilling into metals, said analyst Daniel Morgan of UBS in...

  • OTTAWA, March 21- Canada's government, under pressure from domestic steel firms, is expressing concern to U.S. officials about a proposed Buy America policy that could cause heavy Canadian job losses, people familiar with the discussions told Reuters. Commerce Secretary Wilbur Ross in their first conversation on March 9 and underscored worries about...

  • BEIJING, March 18- China should not be singled out in a fight against excess steel capacity that requires stronger global cooperation, Wang Shouwen, a vice commerce minister, said on Saturday. "When we are talking about overcapacity in the steel sector, China should not be singled out. President Donald Trump's choice for top U.S. trade negotiator on Tuesday pledged...

  • DUESSELDORF, Germany, March 17- Around 72,000 German steel workers will get a 2.3 percent pay hike from April, and another 1.7 percent from next May in a deal struck overnight, one of several sectors in Europe's largest economy to give workers a solid wage rise this year. The deal, which runs until the end of 2018, was reached for steelworkers in northwestern Germany...

  • NEW DELHI, March 17- India's steel minister said he hoped state-owned Steel Authority of India Ltd and ArcelorMittal SA would resolve differences over building an $897 million automotive steel plant before the deadline in May to close the deal. SAIL is banking on the proposed joint venture with the world's number 1 steel producer, ArcelorMittal, to help it move...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country's domestic market to help avert an energy shortage following crisis talks with Prime Minister Malcolm Turnbull. Australia's power supply problems made international...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australian Prime Minister Malcolm Turnbull turned up the heat on Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, on Wednesday ahead of crisis talks about a shortage in the domestic market. "It is not acceptable for Australia... to not have enough gas for its own...

  • *Australia faces gas shortage despite exports soaring. SYDNEY, March 15- Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, are set to come under fire to supply more gas to the local market and curb soaring prices in crisis talks on Wednesday with Prime Minister Malcolm Turnbull. The meeting comes days after Australia's energy market...

  • BEIJING, March 14- China issued a raft of upbeat data on Tuesday showing the economy got off to a strong start to 2017, supported by strong bank lending, a government infrastructure spree and a much-needed resurgence in private investment. Solid growth is welcome news for China's policymakers as they turn their focus to containing risks from a sharp build-up in...

  • SHANGHAI, March 14- China's steel output in the first two months of 2017 rose 5.8 percent from the same period a year ago, data showed on Tuesday, as mills boosted production amid higher prices and firm demand as Beijing moves to cut excess capacity in the sector. China's steel output for January and February combined rose to 128.77 million tonnes, the National...

  • BEIJING, March 14- China's factory output and fixed-asset investment grew more strongly than expected in the first two months of the year, but retail sales disappointed after the government reduced a tax break on small cars. China combines January and February activity data in a bid to smooth out seasonal distortions caused by the timing of the long Lunar New...

  • Treasury Secretary Steven Mnuchin will be "pushing hard" to advance U.S. interests in his debut meeting with Group of 20 counterparts this week, including reaffirming commitments to avoid competitive currency devaluations, a senior Treasury official said on Monday. Mnuchin, who will attend a meeting of finance ministers and central bank governors from the...

  • Chinese tourists wear masks as protection from the pollution outside the Forbidden City during a day of high pollution in Beijing, China.

    China's government is using worries about pollution to push for radical changes in the industrial and energy sectors. Investors may benefit.

  • SAO PAULO, March 10- Shares in Vale SA fell on Friday, bringing their losses over the past two weeks to nearly a fifth, as investors fretted over the impact of a potential drop in iron ore prices on the world's largest producer of the steel-making raw material. Shares are still up 26 percent this year, among the biggest gainers on Brazil's benchmark Bovespa stock...

  • LONDON, March 10- Britain's 6 billion pounds terrorism reinsurance fund hopes to extend its cover to include cyber attacks on property, chief executive Julian Enoizi said. Pool Re, set up in 1993, acts as a backstop to insurers paying out claims on property damage and business interruption. In 2002, Pool Re extended its cover to include chemical and biological...

  • LAUNCESTON, Australia, March 9- China's imports of major commodities remained robust in February, underlining the recent positive trend, but also masking a few areas of emerging concern. Imports of crude oil, coal, iron ore and copper were all lower in February than in January, but once adjusted to a daily basis, the picture remained one of strength.

  • TOKYO, March 9- Japan on Thursday asked the World Trade Organization to set up a dispute settlement panel to examine India's safeguard duties on steel imports which it says may be violating the WTO rules. Japan in December asked for WTO dispute consultations with India over steel safeguard duties and a minimum import price for iron and steel products.

  • SHANGHAI, March 9- China stocks closed at two-week lows on Thursday, as energy shares tumbled on diving oil prices while global investors turned cautious ahead of a widely expected hike in U.S. interest rates next week. China's producer price index unexpectedly jumped 7.8 percent in February from a year earlier, while consumer inflation slowed to 0.8 percent...

  • *Energy shares in China, HK drop after oil price plunge. SHANGHAI, March 9- Benchmark stock indexes in China and Hong Kong fell on Thursday as a plunge in oil prices weighed on energy sector shares, and as global investors turned cautious ahead of a widely expected hike in U.S. interest rates next week. Shares fell across the board in China and Hong Kong, with the energy...

  • LAUNCESTON, Australia, March 9- China's imports of major commodities remained robust in February, underlining the recent positive trend, but also masking a few areas of emerging concern. Imports of crude oil, coal, iron ore and copper were all lower in February than in January, but once adjusted to a daily basis, the picture remained one of strength.