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Metals and Mining Steel Producers

  • SHANGHAI, Sept 7- Dongbei Special Steel Group Co Ltd, the steelmaker whose default in March helped spark a sharp correction in Chinese onshore corporate debt, said it is unable to make a timely payment on another bond. The firm, owned by the Liaoning provincial government, has already defaulted on multiple bonds in 2016. In July, Investors holding around 2.2 billion...

  • LONDON, Sept 6- When G20 leaders met in the Chinese city of Hangzhou this week, they did so under, if not quite blue skies, at least smog-free skies. And although Beijing has committed to eliminating a very large amount of steel capacity, 150 million tonnes over a five-year period, it is highly unlikely to stem the flow of steel products into the rest of the world.

  • LONDON, Sept 6- When G20 leaders met in the Chinese city of Hangzhou this week, they did so under, if not quite blue skies, at least smog-free skies. And although Beijing has committed to eliminating a very large amount of steel capacity, 150 million tonnes over a five-year period, it is highly unlikely to stem the flow of steel products into the rest of the world.

  • *European officials privately fret about access to China market. BEIJING, Sept 6- China is lauding its successful hosting of the G20 summit in scenic Hangzhou, with open confrontation largely avoided and broad consensus reached over the fragile state of the global economy and the need for a wide range of policies to fix it. There was even a joint announcement by...

  • SHANGHAI, Sept 6- The northern Chinese province of Shanxi, the country's biggest coal producing region, has awarded 947.78 million yuan to six major coal enterprises this year for shutting down surplus capacity, one of the firms said late on Monday. In a notice to the Shanghai Stock Exchange, Datong Coal Industry Co. Ltd said it alone had received 312.16 million...

  • HANGZHOU, China Sept 5- G20 leaders have pledged to work together to address excess steel capacity that has punished the global industry with low metal prices for years while raising tensions between China and other major producers. A statement from the White House said that leaders at the G20 summit in Hangzhou, eastern China, on Monday accepted that...

  • MELBOURNE, Sept 5- London copper hovered near its weakest in two months on Monday as the dollar gained ground and as investors bet that more mine supply would drag on prices for the rest of the year. Fed rate hikes, slower-than-expected capacity reduction in aluminum in China and a near-term oversupply threat in the global copper market, " Argonaut Securities said...

  • *New yuan loan f'cast 750 bln yuan vs July's 463.6 bln yuan. BEIJING Sept 5- Signs of strength in China's industrial sector should give Beijing room to push much-needed reforms through the end of the year, though trade and investment are expected to remain weak, according to Reuters polls ahead of a flurry of August data. Growth momentum from a housing recovery and...

  • SHANGHAI, Sept 5- Unlisted Dongbei Special Steel Group Co Ltd, having defaulted on several bonds earlier this year, said on Monday it would delay the disclosure of its interim financial information. The troubled Liaoning province-owned steelmaker was scheduled to publish its first-half information on August 31. "The company is accelerating debt...

  • SHANGHAI, Sept 5- Central China's Henan province will cut annual coal capacity by 62.54 million tonnes and crude steel by 2.4 million tonnes over the 2016-2018 period as part of efforts to tackle nationwide supply gluts in the sectors, Xinhua news agency reported. The Henan provincial government said in an overcapacity "roadmap" that it would work to dispose of "...

  • MELBOURNE, Sept 5- London copper hovered near its weakest in two months on Monday as the dollar gained ground and as investors bet that more mine supply would drag on prices for the rest of the year. *Shanghai Futures Exchange copper ended the overnight session down 0.2 percent at 36,470 yuan a tonne. *Hedge funds and money managers reduced their net long positions...

  • G-20 is conduit for global issues resolution: OECD

    Angel Gurria, Secretary-General of the OECD, speaks on corporate tax avoidance, global trade growth and confronting China's excess capacity.

  • *G20 leaders converge on Hangzhou for Sept 4-5 summit. His warning on Sunday followed bilateral talks with Barack Obama that the U.S. president described as "extremely productive", but which failed to bring both sides closer on thornier topics such as tensions in the South China Sea. With the summit taking place after Britain's vote in June to exit the European...

  • His warning on Sunday followed bilateral talks with Barack Obama that the U.S. president described as "extremely productive", but which failed to bring the two sides closer on thorny topics such as tensions in the South China Sea. With the summit tucked in between Britain's surprise vote in June to exit the European Union and the U.S. presidential election in...

  • His warning on Sunday followed bilateral talks with Barack Obama that the U.S. president described as "extremely productive," but which failed to bring the two sides closer on thorny topics such as tensions in the South China Sea. With the summit tucked in between Britain's surprise vote in June to exit the European Union and the U.S. presidential election in...

  • HANGZHOU, China, Sept 4- It is crucial for China to set up a mechanism to address its problem of industrial overcapacity, European Commission President Jean-Claude Juncker said on Sunday, saying it was "unacceptable" that the European steel industry had lost so many jobs in recent years. Speaking at a news conference at a G20 summit in the eastern Chinese city of...

  • LONDON, Sept 2- Copper was little changed on Friday as investors digested lower than forecast U.S. payrolls growth, while lead, zinc and tin hit multi-month peaks on tightening supplies, environmental curbs and upbeat factory data in China. On-warrant or available copper stocks on the London Metal Exchange have jumped 170 percent since June 1..

  • WASHINGTON, Sept 2- The U.S. International Trade Commission voted on Friday to lock in duties on imports of cold-rolled steel flat products from Brazil, India, South Korea and Britain but said imports from Russia were not injuring the U.S. industry. The U.S. Commerce Department had previously found the products from Brazil, India, South Korea and Russia were being...

  • ITC SAYS DOES NOT FIND THAT IMPORTS OF COLD-ROLLED STEEL PRODUCTS FROM RUSSIA INJURE U.S.

  • ITC SAYS FINDS IMPORTS OF COLD-ROLLED STEEL PRODUCTS FROM BRAZIL, INDIA, KOREA AND BRITAIN INJURE U.S.