Metals and Mining Steel Producers

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  • FORT WAYNE, Ind. _ Steel Dynamics Inc. on Monday reported second-quarter profit of $142 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share. Steel Dynamics shares have increased 57 percent since the beginning of the year.

  • LAUNCESTON, Australia, July 18- Iron ore's wild price gyrations this year may be masking a small, but significant, shift in the underlying fundamentals for the steel-making ingredient. This provides some fundamental justification for the rally in spot prices, with the China benchmark index up almost 35 percent so far this year. China's imports have jumped 9.1...

  • LONDON, July 18- British Prime Minister Theresa May visits Wales' First Minister Carwyn Jones on Monday and said she is committed to working with the Welsh government and Tata Steel to find a solution to the steelmaker's troubles. Tata Steel has paused the sale of its Port Talbot plant in southern Wales, partly due to Brexit uncertainty. "My government is committed...

  • TOKYO, July 15- Japanese aluminium products makers such as UACJ Corp and Kobe Steel are boosting output capacity in the United States in a bid to snare market share as automakers turn to the lighter metal to meet stricter environmental rules. UACJ, Japan's biggest rolled-aluminium products maker, began production of sample aluminium sheets for autos last...

  • TOKYO, July 15- Japanese aluminum products makers such as UACJ Corp and Kobe Steel are boosting output capacity in the United States in a bid to snare market share as automakers turn to the lighter metal to meet stricter environmental rules. UACJ, Japan's biggest rolled-aluminum products maker, began production of sample aluminum sheets for autos last month at...

  • 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, 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.