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Metals and Mining Steel Producers

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  • LAUNCESTON, Australia, Aug 11- China's imports of major commodities are holding up well, according to market consensus, but that in itself is quite concerning for the overall state of the world's second-biggest economy. The fact commodity imports haven't weakened does allow some of the more alarmist views of China's economy to be discounted.

  • *China's devaluation triggers knee-jerk profit-taking. *China- related shares outperform, steelmakers top gainer. TOKYO, Aug 11- Japan's Nikkei share average edged down on Tuesday, erasing its earlier rise to near its 18 1/ 2- year high hit earlier this year, as investors took profits after the Chinese central bank devalued the yuan.

  • *China- linked stocks hit after July PPI, exports data. Companies with heavy exposure to China such as steelmakers and some trading houses also came under pressure after Beijing released disappointing trade data at the weekend. "The market is digesting the weekend data from U.S. and China.

  • SYDNEY, Aug 6- Global miner Rio Tinto on Thursday posted sharply lower first-half profits on sliding metal prices and pledged $1 billion in cost cuts this year. Miners have been among the worst performers on London's FTSE index of blue-chip companies so far this year, hit by oversupply and slowing growth in major consumer China. The FTSE 350 mining index has...

  • MANILA, Aug 6- China's biggest physical iron ore trading platform is considering collecting deposits from market members including miners and steelmakers to curb the risk of them defaulting amid volatile prices, its president said. Rebounding to $65 a tonne in June from below $47 in April, the glut-hit commodity slid to a decade-low of $44 in July before...

  • A 60 percent plunge in the yen in the past three years is prompting automakers and other manufacturers to heed Prime Minister Shinzo Abe's call to build at home and help revive Japan's sluggish economy, lifting demand for steel that is used in cars and for construction. The optimism contrasts with the view on steel mills in China, India and South Korea, where...

  • TANGSHAN, China, Aug 6- Struggling from weak demand and facing new rules to clean up pollution, some firms in China's top steel producing city have scaled back production or even closed completely, lifting local steel prices off 20- year lows. Tangshan, which is 200 km east of Beijing and produces more steel a year than the United States, has been on the frontline of...

  • TANGSHAN, China, Aug 6- Struggling from weak demand and facing new rules to clean up pollution, some firms in China's top steel producing city have scaled back production or even closed completely, lifting local steel prices off 20- year lows. Tangshan, which is 200 km east of Beijing and produces more steel a year than the United States, has been on the frontline of...

  • LONDON, Aug 5- Copper's there. So too are aluminium and nickel. Leaving aside Greece, banks are not failing, credit is not evaporating and industrial production is not imploding.

  • Aug 3- Coal miner Alpha Natural Resources Inc became the latest company to file for Chapter 11 bankruptcy due to a steep fall in coal prices. Walter Energy Inc and Patriot Coal Corp filed for bankruptcy protection earlier this year. The company and its affiliates operate more than 50 underground and surface mines, and more than 20 coal preparation facilities in...

  • LONDON, Aug 3- Copper prices hit six-year lows on Monday as manufacturing data from top consumer China and a slide in Shanghai equities reinforced concern about economic growth prospects. The metal used in power and construction was at $5,161 at 0942 GMT from $5,230 at Friday's close. July manufacturing activity in China fell at its fastest pace in two years,...

  • GENEVA, July 31- China failed to comply with a World Trade Organization ruling that found its tariffs on a type of speciality steel products breached global trade rules, a WTO panel said in a ruling on Friday. The ruling noted, however, that China had stopped applying the tariffs in April, while the WTO hearings were going on, more than four and a half years after the...

  • US wins WTO ruling on Chinese speciality steel tariffs Friday, 31 Jul 2015 | 11:25 AM ET

    GENEVA, July 31- China failed to comply with a World Trade Organization ruling that found its tariffs on a type of speciality steel products breached global trade rules, a WTO panel said in a ruling on Friday. The United States brought the case in 2010 after China slapped punitive duties on U.S. exports of grain oriented flat-rolled electrical steel, used in the...

  • BRUSSELS, July 31- China's steel demand will shrink this year and lead to a flood of exports, ArcelorMittal said on Friday, highlighting the growth problems facing the world's top consumer and producer of the construction material. In dollar terms, ArcelorMittal only sells 1 percent of its steel to China compared to 46 percent to Europe, including Russia and...

  • *ArcelorMittal has limited China exposure. BRUSSELS, July 31- ArcelorMittal, the world's largest steelmaker, said it would do better in the second half of the year than the first and kept its 2015 profit targets, despite cutting its global forecast for steel demand. ArcelorMittal, which produces 6 to 7 percent of the world's steel, repeated its 2015 for core profit...

  • U.S. steel companies in June had filed a complaint with the U.S. government over cheaper imports of corrosion-resistant steel from China, India, Italy, South Korea and Taiwan, kicking off a process that could end in import duties. Cliffs has taken a hit from weak prices for iron ore, caused by excess supply from major iron ore miners such as Vale SA, Rio Tinto Plc and BHP...

  • BRUSSELS, July 28- EU members have backed the imposition of anti-dumping duties on imports of cold-rolled flat stainless steel from China and Taiwan, according to sources familiar with the decision. The European Union will charge tariffs of between 24.3 and 25.3 percent for sheet, coil and strip imports from China and of 6.8 percent for Taiwanese product,...

  • July 28- Peabody Energy Corp said it was suspending its quarterly dividend, reducing production of steel-making coal and cutting jobs to stem losses as coal prices remain stubbornly low. Peabody said it was cutting 550 jobs, including 300 across mines in Australia and 250 corporate and regional support positions, and closing some offices in Wyoming.

  • LONDON, July 27- Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. The first-half drop in China's steel production may look marginal, equivalent as it was to just 5 million tonnes less output than in the first half of last year.

  • LONDON, July 27- Copper prices tumbled to a six-year low on Monday as the latest slide in China's stock markets reinforced gloomy prospects for demand in the world's top consumer of the metal. "The drop in Chinese equities and the negative growth backdrop in China are clearly going to leave you very concerned about Chinese demand in the months ahead," said Nic Brown,...