Metals and Mining Steel Producers

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  • *FTSEurofirst ends up 0.7 percent. MILAN, March 2- European shares rose on Wednesday, with banks making their fifth straight day of gains after previously suffering heavy losses, while eyewear maker Luxottica led the losers after it trimmed its profit guidance. European stock markets slumped at the start of 2016 on concerns about a slowdown in China, the world's...

  • LONDON/ MILAN, March 2- European shares rose on Wednesday, with banks on course for their fifth straight day of gains after previously suffering heavy losses, while Luxottica led losers after a disappointing update. "We do appear to have turned a corner on European markets," said Hantec Markets' analyst Richard Perry. European stock markets slumped at the start of...

  • World stock markets slumped at the start of 2016 on concern about a slowdown in China, the world's second-biggest economy and a leading consumer of oil and metals. But China announced this week it would cut bank reserve requirements and make other structural reforms. That helped real estate prices climb, and Chinese stocks advanced on Wednesday even though...

  • LAUNCESTON, Australia, March 2-- One of the big questions surrounding China's embattled steel sector is whether it can continue to ramp up exports or will protectionism around the globe curb one of the few bright spots for mills in the world's largest producer. So far, India, the United States and Indonesia have imposed some increased duties on steel imports from...

  • LONDON, March 1- Copper prices rose on Tuesday as expectations of further moves by China to try and boost its economic growth boosted sentiment despite more economic data pointing to a continued slowdown in the world's second-biggest economy. China's manufacturing sector shrank in February, surveys showed, prompting smaller companies to shed workers at the...

  • China to lay off 5M to 6M workers in coal, steel sectors

    The country aims to tackle industrial overcapacity and curb pollution.

  • LONDON, March 1- Copper prices steadied on Tuesday as the market shrugged off weak manufacturing data from top consumer China and waited for clues to growth and demand prospects over the coming months. Benchmark copper on the London Metal Exchange was trading up 0.1 percent at $4,700 a tonne at 1047 GMT. China's manufacturing sector shrank in February, surveys...

  • BEIJING, March 1- China aims to lay off 5-6 million state workers over the next two to three years as part of efforts to curb industrial overcapacity and pollution, two reliable sources said, Beijing's boldest retrenchment programme in almost two decades. China's leadership, obsessed with maintaining stability and making sure redundancies do not lead to...

  • *Business surveys show further deterioration in China economy. SHANGHAI, March 1- Activity in China's manufacturing sector shrank more sharply than expected in February, surveys showed on Tuesday, prompting smaller companies to shed workers at the fastest pace in seven years and suggesting Beijing will have to ramp up stimulus to avoid a deeper economic...

  • SHANGHAI, March 1- Activity in China's manufacturing sector shrank for the seventh month in a row in February and more sharply than expected, an official survey showed, suggesting the government will have to ramp up stimulus to avoid a deeper economic slowdown. Some investors had been bracing for a negative after the central bank unexpectedly eased policy late...

  • *Iran steel output expected to triple to 55 mln tonnes by 2025. SEOUL, Feb 29- South Korean steelmaker POSCO said on Monday that it has signed an initial agreement to help build a $1.6 billion steel mill in Iran, looking to tap rising demand in the Middle Eastern country as other markets falter. The lifting of economic sanctions earlier this year on Iran's disputed...

  • Gerdau, Brazil's largest steelmaker and a family company that has made steel for generations, is suspected of evading 1.5 billion reais in back taxes, he said. Search and seizure operations were being carried out at Gerdau offices in the cities of Sao Paulo, Brasilia, Rio de Janeiro, Recife and the company's headquarters in Porto Alegre, police said.

  • Federal police said Gerdau, Brazil's largest steelmaker, is suspected of evading 1.5 billion reais in back taxes. Search and seizure warrants were being carried out at Gerdau offices in the cities of Sao Paulo, Brasilia, Rio de Janeiro, Recife and the company's headquarters in the southern city of Porto Alegre, police said. Andre Gerdau's father, Jorge Gerdau...

  • LAUNCESTON, Australia, Feb 24-- If you were to pick one thing that would do the most to help embattled commodity producers around the world, dealing with China's massive over-capacity would probably rank highest. It's no secret that China's surplus capacity in steel, aluminum, cement, flat glass and other intermediate commodities is keeping prices low and...

  • TOKYO, Feb 23- Asian shares rose to a seven-week high on Tuesday as investors took heart from signs of life in battered energy and commodity markets while European currencies are hampered by worries Britain could exit the European Union. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, hitting its highest level since early January.

  • LONDON, Feb 22- European stocks rose on Monday as firmer mining company shares helped offset concerns about Britain's potential exit from the European Union, and a fall in HSBC. Signs that the European Central Bank would try to protect banks from being hit too hard by negative interest rates lifted euro zone banking stocks, with bonds and shares in Italy and...

  • *Break above $1,790 in zinc to spur further buying. Three-month zinc on the London Metal Exchange jumped to an intraday peak of $1,790 a tonne, the strongest since Oct. 23, extending a near 3 percent gain on Friday. Zinc, which turned back after meeting resistance at its 200- day moving average at $1,790, was up 2.2 percent at $1,782.50 by 1533 GMT.

  • MILAN, Feb 22- European stocks rose on Monday as firmer mining company shares helped to offset concerns about Britain's potential exit from the European Union and a fall in HSBC's shares. Britain's FTSE 100 was up 1.2 percent, while Germany's DAX gained 1.9 percent and France's CAC rose 1.7 percent. Analysts also cited uncertainty over the outcome of Britain's...

  • *Break above $1,790 in zinc to spur further buying. Investor buying lifted industrial metals along with oil and equity markets, including shares in China, the world's top consumer of metals. Three-month zinc on the London Metal Exchange climbed 2 percent to $1,778.50 a tonne by 1040 GMT, the strongest since Oct. 23, extending near 3 percent gains on Friday.

  • MILAN, Feb 22- European shares were higher in early trading on Monday following gains in Asia, and helped by a recovery in the prices of crude oil and other commodities. Miners were the top sectoral gainer, up 2.3 percent, after copper rose to its highest level in over two weeks as an uptick in China's beleaguered steel industry sparked hope for a revival in metals...