Metals and Mining Steel Producers

  • *China's steel sector debt estimated at $500 billion. LONDON, Aug 18- Debt in the world's top 30 steel companies totals a record $150 billion, international accountancy firm EY said on Thursday, adding governments' action to support the sector would work only if matched with more radical industry restructuring. The debt of the top 30 companies is dwarfed by...

  • Total onshore issuance was 2.9 trillion yuan in July, the People's Bank of China data showed, 700 billion yuan less than in June. Corporate non-financial bond issuance rose 78.8 billion yuan to 716.9 billion yuan while municipal bond issuance fell sharply by 632.8 billion yuan to 395.5 billion yuan. Recent controversies surrounding repeated defaults by...

  • SAO PAULO, Aug 16- The Mexican peso continued to strengthen on Tuesday, reaching its highest in more than three months, despite comments from an influential Federal Reserve policymaker who said U.S. interest rates could rise as soon as next month. The peso had hit an over three-month high of 17.9010 per U.S. dollar during the session, but pared gains after William...

  • SHANGHAI, Aug 16- Sinosteel, the troubled Chinese steelmaker which became one of the first state-owned firms to encounter bond repayment problems in 2015, is in the final stages of completing a debt-to-equity swap plan, online financial magazine Caixin reported on Tuesday. The plan has been submitted to the State Council, China's cabinet, for approval and will...

  • SAO PAULO, Aug 15- Brazil's steelmaker Companhia Siderúrgica Nacional posted a second-quarter loss of 43 million reais, missing an analyst consensus for a profit of 38 million reais. Earnings before interest, tax, debt and amortization, a measure of operating profitability known as EBITDA, came in at 576 million reais, below a consensus estimate of 842 million...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. The decline partly reflects China's efforts to address a chronic glut. In the months ahead, further capacity cuts, mostly via stricter...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. Daily output averaged 2.15 million tonnes last month after a surprise increase to an all-time high of 2.32 million tonnes in June, according...

  • Aug 12- China's average daily crude steel fell in July from a record high in the previous month, government data showed on Friday, as Beijing's environmental clampdown curbed production in the world's top steel producer. Tougher environmental inspections of mills across China, including in the major producing city of Tangshan, had led to some closures, as...

  • Aug 12- China's crude steel output rose 2.6 percent from a year ago to 66.81 million tonnes in July, data from the National Bureau of Statistics showed on Friday.

  • *Nippon Steel could consider consolidation of Japan facilities. TOKYO, Aug 12- A soaring yen in the wake of Britain's decision to leave the European Union may stymie a possible recovery in Japanese demand for steel, said an official at the country's top maker of the material. Nippon Steel& Sumitomo Metal Corp Executive Vice President Toshiharu Sakae said that a...

  • FRANKFURT, Aug 11- German industrial group Thyssenkrupp reported an unexpectedly sharp drop in demand from customers hit by weak oil and raw materials prices, sending its revenues down 12 percent in the quarter to the end of June and knocking its shares. But Chief Financial Officer Guido Kerkhoff said it was too early to speak of a sustainable upturn in European...

  • Glencore reports a significant fall in commodity production

    John Meyer, analyst at SP Angel, comments on the latest production report from Glencore.

  • SAO PAULO, Aug 10- Latin American currencies pared gains on Wednesday as crude prices turned negative, taking the shine off an extended rally in emerging markets. Brazil's real posted fresh one-year highs close to 3.10 per U.S. dollar but reduced gains in early afternoon trade. Shares in builder Cyrela SA were the biggest losers in Brazil's benchmark Bovespa...

  • China, which buys about two-thirds of global seaborne iron ore, imported 88.4 million tonnes in July, the second-highest amount on record, according to customs data. In the first seven months of the year China has imported 582 million tonnes of iron ore, up 8.1 percent on the same period in 2015 and putting it on track for full-year imports near 1 billion tonnes,...

  • China, which buys about two-thirds of global seaborne iron ore, imported 88.4 million tonnes in July, the second-highest amount on record, according to customs data. In the first seven months of the year China has imported 582 million tonnes of iron ore, up 8.1 percent on the same period in 2015 and putting it on track for full-year imports near 1 billion tonnes,...

  • *China ramps up NPI, stainless steel output. MELBOURNE, Aug 9- London copper drifted on Tuesday as inflation in China eased in July, highlighting worries about the health of the world's top copper consumer after imports fell last month. China's exports and imports fell more than expected in July in a rocky start to the third quarter, pointing to further weakness in...

  • *China ramps up NPI, stainless steel output. MELBOURNE, Aug 9- London copper drifted on Tuesday as inflation in China eased in July, highlighting worries about the health of the world's top copper consumer after imports fell last month. China's exports and imports fell more than expected in July in a rocky start to the third quarter, pointing to further weakness in...

  • WASHINGTON, Aug 5- The U.S. Commerce Department on Friday set final anti-dumping duties on hot-rolled flat steel from Japan, South Korea, Turkey, Britain, Brazil, the Netherlands and Australia on Friday, locking in import taxes of 3.7 percent to about 34.3 percent for five years. The department also imposed final anti-subsidy duties of 3.9 to 11.3 percent against...

  • NEW DELHI, Aug 5- State-run Steel Authority of India Ltd has earmarked 40 billion rupees for capital expenditure in the 2016/ 17 fiscal year and expects its annual sales to grow by more than 10 percent. SAIL, India's biggest state-owned steel company, is trying to cut costs by producing more from its new efficient units and by adding value to its product line,...

  • BEIJING, Aug 5- China's regional economies showed a marked divergence in performance in the first half of 2016, with provinces reliant on steel making and mining reporting weak or no growth but some larger cities thriving. The northeastern steel-making province of Liaoning reported its economy shrank by 1 percent in the first half of 2016 from the same period...