Metals and Mining Steel Producers

  • SAO PAULO, Dec 15- Mexico's peso strengthened on Thursday after the country's central bank hiked its benchmark interest rate more than expected in a bid to ease pressure on the currency and slow inflation following the U.S. election victory of Donald Trump. The Banco de Mexico hiked its benchmark interest rate median forecast in a Reuters poll of economists,...

  • SALGUEIRO, Brazil, Dec 15- The rusting tracks of Brazil's Transnordestina railway peter out and give way to a dirt trail in a remote corner of the country's arid northeast, far from the ports or farms it was meant to serve. No trains run on these tracks and the cleared path for one of Brazil's most ambitious infrastructure projects is used only by local cars, and the...

  • SMEDEREVO, Serbia, Dec 15- China's Hesteel plans to invest $120 million in 2017 to upgrade Serbian steel mill Zelezara Smederevo, which it bought from the Serbian government this year in the first major Chinese acquisition of a Serbian company. Zelezara Smederevo is the first European steel plant to be bought by a steelmaker from China, which accounts for about...

  • BUENOS AIRES, Dec 14- A World Bank tribunal ordered Venezuela to pay steelmaker Tenaris SA $162 million for expropriating two investments in the country, according to a statement published by the Buenos Aires stock exchange on Wednesday. Luxembourg- based Tenaris, the world's top producer of seamless steel pipes for the energy industry, and its Talta Lda...

  • SAO PAULO, Dec 13- A Brazilian federal court dropped a case against Joseph Safra, the world's richest banker, over an alleged scheme to pay bribes to government officials in return for waiving tax debts. The media office of the Brasilia- based Regional Federal Tribunal for the 1st Region said the decision favoring Safra was approved by the court in a 2- to-1 ruling.

  • *China posts strong retail and factory data. Other metals held earlier gains following strong economic data from top metals consumer China. "I think it's people being cautious ahead of the Fed," said Richard Fu, head of Asia and Pacific at broker Amalgamated Metal Trading in London.

  • TORONTO, Dec 13- Canada's main stock index resumed a recent rally on Tuesday after a slip in the prior session, helped higher by gains among heavyweight banking and energy stocks, while materials stocks weighed. At 10:27 a.m. EDT, the Toronto Stock Exchange's S&P/TSX composite index rose 53.04 points, or 0.35 percent, to 15,340.74. Canadian Natural Resources Ltd...

  • *China posts strong retail and factory data. LONDON, Dec 13- Zinc and other base metals gained on Tuesday after strong retail and factory data in top metals consumer China though further rise in inventories capped copper's gains. China posted its strongest retail sales growth of the year in November and surging steel production lifted factory output.

  • *China posts strong retail and factory data. LONDON, Dec 13- Zinc and other base metals gained on Tuesday after strong retail and factory data in top metals consumer China though copper was weighed down by a further rise in inventories. Data showed that China posted its strongest retail sales growth of the year in November and surging steel production lifted...

  • BEIJING, Dec 13- China posted its strongest retail sales growth of the year in November, while surging steel production lifted factory output, but private investment began to slow again, leaving the economy more reliant on state spending and mounting debt. After a rocky start to the year, China's economy has performed better than expected and looks set to hit...

  • BEIJING, Dec 13- China's steel mills boosted their monthly output at the fastest pace in more than two years in November, data showed, as robust infrastructure demand spurred producers to expand production for a ninth straight month even as coking coal prices bite. Output rose 5 percent to 66.29 million tonnes year-on-year, the fastest growth since June 2014,...

  • BEIJING, Dec 13- China's steel mills increased output in November at their fastest pace in more than two years, data showed on Tuesday, as robust infrastructure demand spurred producers to expand output for a ninth straight month even as coking coal prices bite. Output rose 5 percent to 66.29 million tonnes year-on-year, the fastest growth since June 2014, data...

  • *Modi banned high-denomination banknotes on Nov. 8. GURUGRAM, India, Dec 12- Hundreds of thousands of Indian construction workers have returned home since Prime Minister Narendra Modi abolished high-denomination banknotes, leaving some building sites across the country facing costly delays. A month after Modi's shock move to take away 86 percent of cash in...

  • WASHINGTON, Dec 9- President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair Chinese subsidies for its exports and barriers to imports. Led by Wilbur Ross, a billionaire steel investor and Trump's nominee for...

  • KIEV, Dec 9- Ukraine's largest steel mill, owned by ArcelorMittal, accused local law enforcement agencies on Friday of disrupting the business with unwarranted inspections. The allegations from one of the largest foreign investors in Ukraine could be embarrassing for the government, which is seeking to prove to Western backers and businesses its commitment...

  • *Plans investigation into cast iron from China/ India. *China says WTO rules mean it merits new treatment from Dec. 11. BRUSSELS, Dec 9- The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic...

  • BRUSSELS, Dec 9- The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, a case Beijing said it viewed with deep concern. An official at China's Commerce Ministry said Beijing attached a "high degree of attention and concern" to the case and that Europe's steel problems were due...

  • *China Nov producer prices rise at fastest pace since Oct 2011. BEIJING, Dec 9- China's producer prices rose at the fastest pace in more than five years in November as prices of coal, steel and other building materials soared, boosting industrial profits and giving firms more cash flow to pay off mountains of debt. The stronger-than-expected 3.3 percent surge in...

  • *Mitt Romney, 2012 Republican presidential nominee and former Massachusetts governor. *Jon Huntsman, former Republican Utah governor and ambassador to China under President Barack Obama, ran for Republican presidential nomination in 2012. *John Bolton, U.S. ambassador to the United Nations under President George W. Bush, foreign policy adviser to 2012...

  • *If so, might have to compete with Russia's Summa group. MOSCOW, Dec 8- Russian billionaire Vladimir Lisin is selling a stake of around 1.5 percent in the country's largest steelmaker NLMK, which he controls, the bookrunner for the deal said on Thursday. Forbes magazine ranks Lisin as Russia's eighth richest businessman with a worth of about $9.3 billion.