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Metals and Mining Steel Producers

  • SHANGHAI, Sept 22- China's Baosteel Group will fully take over Wuhan Steel Group to create the world's second largest steelmaker after ArcelorMittal, as Beijing aims to increase the concentration level of the scattered industry. The new entity will be named China Baowu Steel Group, the Baosteel Group's listed units Bayi Iron& Steel and Baosteel Packaging said...

  • DALIAN, China, Sept 22- Australian iron ore miner Fortescue Metals Group said it hopes strong demand from China will eventually help revive stalled talks with rival Vale SA about blending their ore in the world's top consumer of the steelmaking raw material. The world's No. 4 and No. 1 miner announced in March that they were in talks to blend up to 100 million tonnes...

  • DALIAN, China, Sept 22- China's steel demand is likely to drop for a third year in a row, an industry official said on Thursday, as mills in the world's top producer focus on reducing capacity. China's crude steel consumption slipped 1.9 percent over January to July and there may be a slight drop for the year, said Wang Liqun, vice chairman of the China Iron and Steel...

  • DALIAN, China, Sept 22- China's international commitment to cut its massive steel capacity has to result in a reduction in exports, an official from the World Steel Association said, as countries around the world scrutinise Beijing's progress tackling a chronic glut. While the world's biggest steel producer appears to be throwing more weight behind efforts to...

  • TORONTO, Sept 21- The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, which has been in creditor protection since September 2014, and the court supervising the company's credit protection proceeding, Ontario's government said in a statement. Steel Canada's plants in...

  • What is the impact of Baosteel-Wuhan deal?

    The Baosteel-Wuhan merger will impact a lot of jobs, but Beijing will try to retrain the affected employees, says Patersons Securities' Rob Brierley.

  • SHANGHAI, Sept 20- China's struggling Liaoning province, a bellwether for China's municipal debt, sold bonds on Tuesday at much higher yields than its peers but well below its 2016 highs, suggesting investors see little immediate threat of default. Liaoning is the only province in China in recession and is viewed by analysts as a test of the central government's...

  • SHANGHAI, Sept 20- China's troubled state-owned steelmaker Sinosteel will be permitted to swap 27 billion yuan of debt into equity convertible bonds, the online financial magazine Caixin reported on Tuesday citing anonymous sources. The Sinosteel debt-to-equity swap plan, previously reported by Caixin, would mark the first such swap this year under a wider...

  • Much of iron ore's gains in 2016 have been driven by strong demand from China, with imports up 9.3 percent to 669.65 million tonnes in the first eight months of the year from a year ago. And as yet, there is no sign that China's appetite for imported iron ore is waning, with vessel-tracking and port data suggesting September will be another strong month for the buyer...

  • Much of iron ore's gains in 2016 have been driven by strong demand from China, with imports up 9.3 percent to 669.65 million tonnes in the first eight months of the year from a year ago. And as yet, there is no sign that China's appetite for imported iron ore is waning, with vessel-tracking and port data suggesting September will be another strong month for the buyer...

  • China's bank lending more than doubled in August from the previous month, a report showed on Wednesday, adding to brighter economic readings readings from the country earlier this week. Gauges showed China's factories and retail sectors grew faster than expected in August as a strong housing market and a government infrastructure spending spree...

  • *Ouro Branco plant in Brazil exporting half of output. OURO BRANCO, BRAZIL, Sept 15- Brazil's Gerdau SA, the No. 1 long-steel producer in the Americas, is counting on non-traditional flat-steel exports and a data venture with General Electric Co to help weather a world-steel slump and sharp domestic downturn. Gerdau planned Ouro Branco's $1.5 billion flat-steel...

  • China's bank lending more than doubled in August from the previous month, a report showed on Wednesday, adding to brighter economic readings readings from the country earlier this week. Gauges showed China's factories and retail sectors grew faster than expected in August as a strong housing market and a government infrastructure spending spree...

  • LAUNCESTON, Australia, Sept 14- China's steel and coal sectors provide contrasting stories so far this year, with one failing miserably to curb output and the other cutting so successfully it's led to the unintended consequence of higher prices and imports. China's steel sector, which accounts for about half of global production, continued its recent strength...

  • LAUNCESTON, Australia, Sept 14- China's steel and coal sectors provide contrasting stories so far this year, with one failing miserably to curb output and the other cutting so successfully it's led to the unintended consequence of higher prices and imports. China's steel sector, which accounts for about half of global production, continued its recent strength...

  • SAO PAULO, Sept 13- Latin American stocks and currencies stumbled on Tuesday, weighed by a slump in crude prices and concerns over a possible U.S. interest rate increase this year. Shares of lenders Bradesco SA and Itaú Unibanco SA, as well as state-controlled oil company Petróleo Brasileiro SA, ranked among the biggest losers. Steel makers also fell sharply...

  • LIMA, Sept 13- Peru President Pedro Pablo Kuczynski said a transcontinental railway proposed by China to slash the costs of shipping Brazilian goods to Asia could be too expensive and environmentally harmful to build. Peru and China agreed to study the feasibility of a 5,300- kilometer railroad to link Brazil's Atlantic coast with a port on Peru's Pacific...

  • SAO PAULO, Sept 13- Latin American stocks and currencies fell on Tuesday, weighed down by a slump in crude prices and concerns over a possible U.S. rate increase this year. Shares of lenders Bradesco SA and Itaú Unibanco SA, as well as state-controlled oil company Petróleo Brasileiro SA, ranked among the biggest losers. Steel makers also fell sharply after the U.S....

  • LAUNCESTON, Australia, Sept 13- When the price of a commodity rises by 117 percent in a mere 15 weeks, it's generally a sign that something is amiss in the market, and coking coal's recent stellar run is no exception to this rule. The spot price of Australian premium hard coking coal has surged from $83.40 a tonne on May 31 to $180.90 on Sept. 9. In addition to the spot price...

  • BEIJING, Sept 13- China's factory output and retail sales grew faster than expected in August as a strong housing market and a government infrastructure spending spree underpinned growth in the world's second-largest economy. "It is a good time for China to deliver on structural reform, especially on the SOE side, to restore confidence in the economy," he said,...