Metals and Mining Steel Producers

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  • *China, HK market head into Chinese Spring Festival. SHANGHAI, Feb 5- China stocks dipped on Friday morning with participants taking the view that government moves to raise investment ceilings for overseas investors won't lead to an immediate surge in foreign buying of Chinese equities. China unveiled new rules on Thursday that would allow investors under the...

  • *Coming Up: U.S. Factory orders Dec at 1500 GMT. MELBOURNE, Feb 4- London copper rose for second day to the most in a month as a falling U.S. dollar spurred interest in commodities, including oil, that prompted investors shorting the market to close their positions ahead of the Lunar New Year holiday. China's copper imports surged by 18 percent in December and reached...

  • Some 50 million tonnes of excess steel capacity was shut last year in China, which produces about half the world's 1.6 billion tonnes of steel, and whose major steelmakers lost 53.1 billion yuan from January to November.. China steel rebar prices have gained 1.7 percent this year to 1,826 yuan a tonne following the cutbacks. Outside China, another 20 millions...

  • NEW DELHI/ MANILA, Feb 3- State-run Indian company KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from trade sanctions. Companies such as KIOCL and aluminium maker NALCO, which is considering setting up a $2...

  • LONDON, Feb 3- The crisis in the British steel industry risks becoming a "death spiral", according to Angela Eagle, business spokeswoman for the country's opposition Labour Party. Of the top 10 national producers only one, India, raised production last year, according to the World Steel Association. In Europe, debate is raging about whether to grant China market...

  • China's investments were now focused on fixing weak points and structural adjustments, including infrastructure in the central and western regions, education and healthcare sectors, he said. Xu also said that China's basic infrastructure investment growth increased 15 percent last year. Beijing's attempts to curb overcapacity will increase...

  • LONDON, Feb 1- The U.S. economy eked out anemic growth in the final three months of 2015, and the struggling performance of the oil and gas sector was a major contributor to the slowdown. Real gross domestic product rose at an annualized rate of 0.7 percent in the fourth quarter, down from 2.0 percent in the third and 3.9 percent in the second, the Bureau of Economic...

  • *To rationalise production in Europe and Brazil. The restructuring announced on Monday includes the closure of two rolling mills in France, one threading line in Germany and a heat treatment line in Scotland, leading to the loss of about 1,000 jobs on top of previously announced cuts. "Our plan significantly adjusts our industrial footprint in Europe to address...

  • SHANGHAI, Feb 1- Activity in China's manufacturing sector contracted at its fastest pace in almost three-and-a-half years in January, missing market expectations, an official survey showed on Monday. "In the meantime, China has started an aggressive capacity reduction in many sectors, which could add downward pressure on the bulk commodity prices over time."

  • Toyota may halt Japan output on steel shortage Saturday, 30 Jan 2016 | 3:24 AM ET
    A Toyota dealership in Deerfield Beach, Florida.

    Toyota Motor said it may halt production at domestic plants early next month due to a steel shortage after an explosion at a plant operated by an affiliate.

  • European shares end week higher after BOJ rate move Friday, 29 Jan 2016 | 12:33 PM ET

    MILAN/ LONDON, Jan 29- European equities ended the week on a high after the Bank of Japan stunned markets on Friday by voting narrowly to introduce negative interest rates in a bid to revive inflation. Japan's central bank said it would charge 0.1 percent for excess reserves parked with it, an aggressive deflation-fighting policy pioneered by the European...

  • "The Commission's decision... clearly shows that the scale of the crisis affecting the European steel sector has not yet fully registered with Brussels," said Gareth Stace, director of UK Steel. According to UK Steel, China accounts for more than 45 percent of the UK rebar market, up from zero four years ago. Kathleen Walker Shaw, European Officer for UK union GMB, said: "...

  • *Weak prices, China dumping weighing on Indian steelmakers. MUMBAI, Jan 29- India's JSW Steel Ltd said on Friday that its output and sales for the fiscal year to March will fall short of its target due to a delay in capacity addition, as it reported a $136 million quarterly loss. A sharp increase in imports from Japan and South Korea, who have free trade agreements with...

  • MILAN/ LONDON, Jan 29- European equities looked set to end the week on a high after the Bank of Japan stunned markets on Friday by voting narrowly to introduce negative interest rates in a bid to revive inflation. Japan's central bank said it would charge 0.1 percent for excess reserves parked with it, an aggressive deflation-fighting policy pioneered by the...

  • BRUSSELS, Jan 29- The European Union will impose duties on imports from China on steel used to reinforce concrete while its investigation into dumping by Chinese producers continues, the EU's official journal said on Friday. UK Steel, an industry body, criticised the ruling. "The Commission's decision... clearly shows that the scale of the crisis affecting the...

  • The Dec. 23 incident in Ukraine was the first cyber attack to cause a power outage, and is one of just a handful of incidents in which computer hacking has caused physical effects on infrastructure rather than the loss or theft of electronic data. A similar attack in the United States could cripple utilities and leave millions of people in the dark, costing the...

  • *Cevian, Union Investment criticize raised dividend. FRANKFURT, Jan 28- Indebted German industrial group Thyssenkrupp faced calls on Thursday from two influential shareholders not to pay a dividend, but to strengthen its balance sheet instead. Chief Executive Heinrich Hiesinger warned on Thursday that the company's ability to hit its financial forecasts...

  • But as ever with these figures, there is plenty of devil in the detail and it seems it is China's internal market dynamics that are the key factor at work right now. Any read-through to the health or otherwise of manufacturing activity is being swamped by the profusion of supply developments as China's own producers react to collapsing prices.

  • BRUSSELS, Jan 28- The European Union will impose duties on imports of cold-rolled flat steel from China and Russia while its investigation into alleged dumping by the two countries continues. The European Commission has set provisional duties of up to 16 percent for China and of up to 26 percent for Russia, according to sources familiar with the Commission's...

  • SAO PAULO, Jan 28- Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults. Scenting an opportunity, U.S. restructuring shops including FTI Consulting Inc, Houlihan Lokey Inc, and...