Metals and Mining Steel Producers

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  • MAGNITOGORSK, Russia, Nov 27- Russian steel producer MMK could increase its dividend payments from 20 percent of net profit in 2016, but not up to 50 percent, Deputy Chief Executive Sergei Sulimov said on Friday. "We consider a payment of 50 percent of net profit a lot for the capital-intensive metals industry," Sulimov said. The decision will be made in April or May...

  • Iron ore has bleak outlook: Metals expert

    Market sources predict iron ore prices could go below $40 per tonne, says Annalisa Jeffries, associate editorial director for Asia metals at Platts.

  • LONDON, Nov 26- Copper prices bounced to their highest in nearly two weeks as the dollar's uptrend faltered and funds started to reverse some of their bets on lower prices. Benchmark copper on the London Metal Exchange was up 2.2 percent at $4,649 a tonne at 1108 GMT. The metal used in power and construction earlier hit $4,741, a high since Nov. 16.

  • BERLIN, Nov 26- Steelworkers in the western German state of North Rhine-Westphalia will receive a pay rise of 2.3 percent next year, despite tough conditions in the industry, union IG Metall said on Thursday. The steel industry has been severely hit by a global crisis in the sector that is fast rising up the political agenda in Europe, where many steelmakers lay...

  • LONDON, Nov 25- Copper prices fell on Wednesday as bearish sentiment due to an oversupplied market and weak demand growth from top consumer China was reinforced by a stronger dollar. Economic and manufacturing slowdown in China, which accounts for about half of global copper consumption estimated at around 23 million tonnes, has seen demand growth rates slide...

  • MANILA, Nov 23- Copper and nickel tumbled to multi-year lows and oil extended losses on Monday as commodities bore the brunt of another selloff, reflecting growing worries over China's economic fate and a strengthening dollar. Persistent fears that China, a top consumer of many commodities from copper to iron ore and rubber, "might stumble a bit more" are feeding...

  • Steel industry feels the pain of China's slowdown

    Workers are protesting for back pay and medical insurance after the shutdown of the Tangshan Songting steel mill, which is just one of numerous Chinese mills to go under.

  • *Zinc hit 6- yr low on Thursday as China output weighed. *Copper, aluminium touch fresh 6-1/ 2 year lows. A surge of refined output from China has been weighing on the whole zinc market all year, "said Caroline Bain, senior commodities economist at Capital Economics in London.

  • *Zinc had hit 6- yr low on Thursday as China output weighed. LONDON, Nov 20- Zinc prices surged nearly 6 percent on Friday after top Chinese smelters agreed to cut output next year by 500,000 tonnes, sparking worries about shortages. A surge of refined output from China has been weighing on the whole zinc market all year, "said Caroline Bain, senior commodities...

  • *London copper facing biggest weekly loss this year. MELBOURNE, Nov 20- London nickel slumped to its weakest level in more than a decade on Friday, as traders shorted the metal used by China's struggling stainless steel industry, gripped by a wider downturn across industrial metals demand. The collapse of nickel prices, the first industrial metal to drop to levels...

  • MELBOURNE, Nov 20- London copper teetered towards fresh six-year lows on Friday and was set to notch up its biggest weekly drop for the year as traders and consumers continue to short metals that are linked to China's "old" manufacturing-led economy. Metals that supply China's worsening steel industry- zinc and nickel- have been worst hit as China transitions to a...

  • *Nickel, zinc seen as casualties of China steel woes-trader. LONDON, Nov 19- Base metals fell to multi-year lows on Thursday as worries that supply cuts are not enough to balance a market battling weak demand in top metals user China. "The dollar on a day to day basis drives the price but the bigger picture is not enough production cutbacks and we still see very...

  • *Shfe nickel, zinc, seen as casualty of China steel woes-trader. MELBOURNE, Nov 19- London copper edged up on Thursday but remained near its lowest in more than half a decade, as persistent concerns about ebbing demand from top metals user Chinese eclipsed the impact of a slightly softer dollar. "We are already seeing the start of the next bull market in commodities,"...

  • LAUNCESTON, Australia, Nov 18-- Nobody is happy with China's steel sector, certainly not producers in the rest of the world complaining about dumping and not even the Chinese, who are battling increasing losses amid a supply glut. Record low prices, increasing calls from the rest of the world's steelmakers for measures to halt the flow of cheap Chinese exports are...

  • Nov 17- Coal and iron ore producer Cliffs Natural Resources Inc said it would temporarily halt operations and cut 450 jobs at its Northshore iron ore mine in Minnesota by Dec. 1, aiming to lower costs at a time when miners battle weak prices and demand. Cliffs has already temporarily idled operations at its United Taconite mine in Minnesota in August and said on...

  • Nov 17- Coal and iron ore producer Cliffs Natural Resources Inc said it would temporarily halt all operations at its Northshore iron ore mine in Minnesota by Dec. 1, aiming to reduce costs at a time when miners are hit by weak prices and low demand. The company, which has previously idled the United Taconite mine, said it will continue to operate the Hibbing Taconite...

  • Nov 17- Coal and iron ore producer Cliffs Natural Resources Inc said it would temporarily halt all operations at two iron ore projects in Minnesota by Dec. 1, aiming to reduce costs at a time when miners are hit by weak prices and low demand. The company, which has previously idled the United Taconite mine, said it will continue to operate the Hibbing Taconite mine in...

  • Nov 17- Coal and iron ore producer Cliffs Natural Resources Inc said it would temporarily halt iron ore pellet production at its Northshore plant in Minnesota by Dec. 1. The company said that existing demand will be met from its current iron ore inventory. "The historic high tonnage of foreign steel dumped into the U.S. continues to negatively impact the steel...

  • China's overcapacity problem: US Steel CEO

    Mario Longhi, U.S. Steel CEO, discusses what's driving steel prices lower and provides his outlook on the industry.

  • SHANGHAI/ MANILA, Nov 17- Chinese steel prices hit record lows on Tuesday amid prolonged worries over shrinking demand in the world's top consumer that market sources say has forced one of the country's largest private producers to cease output. On Tuesday, Chinese steel prices plumbed a record low of 1,748 yuan a tonne, down nearly 37 percent since the beginning...