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Steel Producers

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  • LAUNCESTON, Australia, July 13- China's commodity imports for the first half of the year go some way to confirming what is already known about the state of the world's second-biggest economy, and also offer some pointers for the rest of 2015.. Although the dynamics vary across the major commodities, there are some clear trends that have emerged in the first six...

  • JOHANNESBURG, July 12- Africa's largest steel maker, ArcelorMittal South Africa, has asked the government to impose a 10 percent import duty on steel and in return it may offer shares to black empowerment partners, a newspaper reported on Sunday. "Rome is burning, every single day the industry loses millions and it is really, really concerning," Paul O'Flaherty, the...

  • BARRANCABERMEJA, Colombia, July 9- The hulking backhoe dredges up rocks and silt from the shallows of the muddy Magdalena River in the first laborious step to transform the waterway into an engine of economic growth. By clearing logjams, the aim is to allow big cargo barges to steam up 900 km from the Caribbean coast to Puerto Salgar, close to the capital Bogota.

  • MEXICO CITY, July 8- Mexico unveiled news measures to protect its struggling steel industry on Wednesday as slack global demand, oversupply from China and cheap imports from Russia have hammered steelmakers in Latin America's second largest economy. The measures come a month after Mexico imposed provisional import duties on hot-rolled steel from Germany,...

  • *China stock prices dive as regulator warns of "panic". MANILA/ LONDON, July 8- Iron ore tumbled to a 10- year low on Wednesday while Dalian futures plunged to a record low as the selloff in China- traded commodities showed no sign of letting up amid bearish views on the economy and following steep losses in equities. China's worries for once overshadowed Greece, which...

  • China funds target commodities after slump in equities Wednesday, 8 Jul 2015 | 4:37 AM ET

    HONG KONG/ BEIJING, July 8- Chinese hedge funds have been big short sellers of locally traded commodities, including iron ore, steel and rubber, after redeploying cash from tumbling equity markets where authorities have slapped curbs on trading, fund managers and traders said. There had been forced liquidation on China's commodities markets due to margin calls...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, July 8- Australia's major iron ore miners have had a torrid year so far, battling low prices, engaging in an ugly slanging match with each other and dealing with persistent questions about the wisdom of their expansion strategies. The Minerals Council of Australia's report, entitled "Iron Ore: The Bigger...

  • SINGAPORE, July 6- Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. "As far as Greece is concerned, if we are going to see a drawn-out period of uncertainty, that may be...

  • METALS-Copper tracks equity markets lower, for now Friday, 3 Jul 2015 | 10:39 AM ET

    LONDON, July 3- Copper slipped on Friday alongside other markets on worries about the fallout from Greece, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. Greece will vote on Sunday in a bailout referendum that could decide whether the country stays in the euro zone.

  • *Japan Q3 aluminum premiums fall to 6- year low. LONDON, July 3- Copper was slightly lower on Friday as worries about demand from top consumer China resurfaced, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Japan Q3 aluminium premiums fall to 6- year low. LONDON, July 3- Copper held firm on Friday, helped by a lower dollar and expectations that further price falls could cause production cuts, but a seasonal demand lull is likely to check gains. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • China uses more than a billion tonnes of iron ore a year to make steel- 14 times the consumption of the United States- but Beijing's efforts to shift the economy to consumer-led growth means steel consumption is peaking faster than expected. "It's clear China can no longer consume all the iron ore that's out there, so something's got to give," said James Wilson, a...

  • NEW DELHI, July 2- For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. India's top business groups are now calling for a slowdown in the process as they try to...

  • LAUNCESTON, Australia, July 1- "New normal" is a term coined about China's transition to slower but hopefully more sustainable economic growth, but it can be equally applied to many commodity markets. The big picture is that Australia is receiving less money for its commodity exports, with the value dropping 11 percent to A $174 billion in the 2014-15 fiscal year...

  • LONDON, June 30- Nickel tumbled to a six-year low on Tuesday and other metals also fell as speculators sold off on worries over excess supply, uncertainty in top metals consumer China and the Greek debt crisis. The CTAs are looking to run the metals down where they can, "said Robin Bhar, head of metals research at Societe Generale in London. "Things are very volatile...

  • BEIJING, June 29- Northern China's Hebei, the country's biggest steelmaking province, produced 16.11 million tonnes of the material in May, down 2.4 percent on the year, hit by weak underlying demand and a seasonal construction downturn. China's Ministry of Industry and Information Technology is about to release details of a plan to curb nationwide capacity by...

  • HOUSTON, June 26- Union workers at Exxon Mobil Corp's Beaumont, Texas, refinery agreed to an unusually long six-year contract on Thursday night, which sources say the company pushed to assure no work stoppages during a contemplated multibillion-dollar expansion. Members of United Steelworkers union Local 13 -243 voted by secret ballot on the contract offer,...

  • HOUSTON, June 26- Unionized workers at Exxon Mobil Corp's Beaumont, Texas, refinery agreed to an unusually long six-year contract on Thursday night, which sources say the company pushed to assure no work stoppages during a contemplated multibillion-dollar expansion. Members of United Steelworkers union Local 13 -243 voted by secret ballot on the contract...

  • "We now see little prospect of a sustainable nickel price or stainless stocking upturn ahead of the July/August holiday period," Citi said. But it is also symptomatic of a reassessment of the bullish supply story that has been bubbling away in the nickel market since Indonesia banned nickel ore exports at the start of 2014, at a stroke cutting the raw materials...

  • June 22- Steel Dynamics Inc forecast a drop in second-quarter adjusted profit, citing a fall in average selling prices due to steel imports staying higher than anticipated. The steelmaker said it expected adjusted earnings of 20- 24 cents per share for the current quarter, significantly less than the 31 cents per share it earned in the same period a year ago.