Metals and Mining Steel Producers

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  • BEIJING, July 15- China's provinces are pushing back against Beijing's efforts to restrict credit to loss-making enterprises with excess capacity, and are enlisting the support of local bankers to keep financing the targeted sectors, such as steel and coal. As part of China's economic efficiency goals, the State Council earlier this year set capacity...

  • Harsco Metals & Minerals

    Harsco Corporation shares soared over 10 percent on Thursday after the firm made a positive second quarter pre-announcement.

  • SAO PAULO, July 14- Brazil's currency and stocks gained on Thursday on hopes interim President Michel Temer will manage to push through austerity measures following the election of a right-leaning ally as speaker of the lower house of Congress. "Maia will likely fight by Temer's side in seeking to pass fiscal measures in Congress," analysts with H.Commcor...

  • SAO PAULO, July 14- Brazil's currency and stocks jumped on Thursday on hopes interim President Michel Temer will manage to push through austerity measures following the election of a right-leaning ally as speaker of the lower house of Congress. "Maia will likely fight by Temer's side in seeking to pass fiscal measures in Congress," analysts with H.Commcor...

  • ULAANBAATAR, July 14- China and the European Union agreed to establish a bilateral mechanism to deal with overcapacity in steel, Chinese Foreign Minister Wang Yi said on Thursday. China is by far the world's biggest steel producer and its annual output is almost double that of the 28- nation EU. Rival producers have accused China of selling into export markets at...

  • SAO PAULO, July 13- Usinas Siderúrgicas de Minas Gerais SA, Brazil's No. 1 listed flat steelmaker, is asking banks to extend a 120- day standstill agreement covering 4 billion reais in loans that expires next week in a bid to conserve cash, four sources said on Wednesday. Usiminas has contacted Itaú Unibanco Holding SA, Banco Bradesco SA and state-controlled...

  • Hopes for government action to curtail financial turmoil following Britain's decision to leave the European Union had lifted the Mexican peso in the last three trading days. It's a wait-and-see game, " Glauber Romano, a forex trader with Intercam brokerage in Brazil, said. Caution lingered in Brazil ahead of a key vote to elect a new speaker of the lower house of...

  • *China imports 420,000 T of copper in June, down 2.3 percent. LONDON, July 13- Copper surged through the $5,000 a tonne mark on Wednesday to its highest since late April as imports of the metal in top consumer China remained solid in June and as investors bet Beijing will stimulate its economy further. "China... has a lot of refined copper production and it's still able to...

  • BEIJING— EU leaders said Wednesday that they have agreed with China to form a working group to discuss Beijing's overproduction of steel, an issue they say is linked to whether they will grant market economy status to China. European Commission President Jean-Claude Juncker told reporters at the conclusion of a two-day summit in Beijing that "there is a clear...

  • BEIJING, July 13- European Commission President Jean-Claude Juncker told his Chinese counterparts on Wednesday that overcapacity in steel sector is a very serious problem. China is by far the world's biggest steel producer and its annual output is almost double that of the EU. Rival producers have accused China of selling into export markets at below cost...

  • BEIJING, July 13- China should remove barriers and provide better legal certainty for businesses, while all parties must observe international trade systems and their rules, European Commission President Jean-Claude Juncker said on Wednesday. China is by far the world's biggest steel producer and its annual output is almost double that of the EU, with rival...

  • SHANGHAI, July 13- China's Commerce Ministry said on Wednesday the United States had deliberately misinterpreted World Trade Organization rules after the U.S. Commerce Department found in favor of subsidy rates for Chinese steel. The U.S. Commerce Department found in favor of anti-dumping measures for imports of stainless steel sheet and strip from China...

  • *GS hikes nickel forecast by 29 pct to $11,000 in three months. LONDON, July 12- Zinc touched a 13- month peak and nickel hit the highest since last October on Tuesday as speculators piled in after the selection of a new prime minister for Britain and on hopes of more stimulus. "I'm a bit nervous about these rallies, they do seem to be driven by investor buying rather than...

  • MELBOURNE, July 12- London nickel climbed for a third day on Tuesday on Philippine supply concerns, while copper also rose thanks to a robust U.S. labor report that fanned a Wall Street rally and whetted risk appetite. Concerns that the Philippines, China's top supplier of nickel ore used in making stainless steel, may shut some mines after a month-long review that...

  • SHANGHAI, July 12- Baosteel Group, China's second-biggest steelmaker, plans to cut its crude steelmaking capacity over the next two years as part of its efforts to push through supply-side reform, it said on its website on Tuesday. Baosteel's announcement comes as China's government works to reduce capacity gluts in the steel and coal sector.

  • MELBOURNE, July 12- London nickel and copper rose for a third day on Tuesday on Philippine supply concerns, and after investors took heart from a robust U.S. labor report. Concerns that the Philippines, China's top supplier of nickel ore used in making stainless steel, may shut some mines after a month-long review that started in July has boosted nickel prices.

  • LONDON, July 11- A top European share index rose on Monday to post its highest close since Britain voted to leave the European Union, after Theresa May won the race to succeed David Cameron as Prime Minister, reducing political uncertainty in the UK. May's rival for the leadership, Andrea Leadsom, pulled out of the race on Monday, and Cameron said he would resign on...

  • *Shares up in Europe and Asia. LONDON, July 11- Shares rose in Europe and Asia on Monday and the safe-haven yen tumbled against the dollar after upbeat U.S. jobs data, though the prospect of more stimulus to counter a weak global growth outlook kept low-risk sovereign bond yields near record lows. The pan-European FTSEurofirst 300 index and Britain's FTSE 100 both...

  • *Shares up in Europe and Asia. LONDON, July 11- Shares rose in Europe and Asia on Monday and the safe-haven yen tumbled against the dollar after upbeat U.S. jobs data, though the prospect of more stimulus to counter a weak global growth outlook kept low-risk sovereign bond yields near record lows. The pan-European FTSEurofirst 300 index and Britain's FTSE 100 both...

  • It is down about 10 percent so far in 2016, having lost ground in the immediate aftermath of Britain's shock vote last month to leave the European Union, although it has recovered from the lows reached after the June "Brexit" vote. ThyssenKrupp, Germany's biggest steelmaker, said it was in talks with India's Tata Steel about a consolidation of beleaguered...