Metals and Mining Steel Producers

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  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest listed flat steelmaker, on Wednesday picked veteran executive Sergio Leite as its chief executive officer. Leite was elected in a board meeting in Belo Horizonte, Brazil, where the company known as Usiminas is based, according to a securities filing. Ronald Seckelmann will remain the...

  • SAO PAULO, May 25- Usinas Siderúrgicas de Minas Gerais SA has picked veteran executive Sergio Leite as its new CEO, a source briefed on the matter said on Wednesday, as the Brazilian flat steelmaker battles to turn around a business hurt by a steep recession, foreign imports and rising debt. The media office of Belo Horizonte- based Usiminas, Brazil's largest...

  • *Cameron says serious offers for Tata Steel UK. *UK government confident its support will secure deal. NAGOYA, Japan/ LONDON, May 25- Tata Steel has received a number of serious offers for its businesses in Britain, Prime Minister David Cameron said on Wednesday as steel workers marched past Downing Street to put pressure on the government to get a deal.

  • *Industry says China not ready for market economy status. *China says those who blame it are protectionist. Steelmakers have been hit by a plunge in steel prices, which Europe and the United States have blamed on a surge in cheap exports from China that has exacerbated the impact of a collapse in demand following economic crisis.

  • SHANGHAI, May 25- Sinosteel, a Chinese state-owned steelmaker, said it will extend until June 14 the registration period for early redemption on a putable bond that investors could originally elect to redeem last October. The statement posted on the website of one of China's main bond clearinghouses on Tuesday marked the tenth time Sinosteel has extended the...

  • RIO DE JANEIRO/ SAO PAULO, May 24- Brazilian police said on Tuesday they investigated local units of three international steelmakers in a second-straight day of raids probing graft at the country's state-controlled oil producer, Petroleo Brasileiro SA. Police and prosecutors allege that Apolo Tubulars, which is 50 percent owned by United States Steel, and...

  • Tata Steel to trim list of bidders

    The Indian steelmaker is expected to pick which interested groups will advance in the sale process for its UK operations.

  • Chinese iron ore futures traded on the Dalian Commodity Exchange surged by 90 percent from their December low to the peak on April 25. They have since slumped by 25 percent after the Beijing authorities and China's exchanges enacted measures to curb speculative buying. The difference becomes even more stark when looking at prices outside of China's domestic...

  • SAO PAULO, May 23- Italian industrial conglomerate Techint Group on Monday bought 193.5 million reais worth of shares in Usinas Siderúrgicas de Minas Gerais, as part of a capital plan aimed at shoring up the Brazilian steelmaker. Techint, through several units, including steelmaker Ternium SA, bought 38.7 million shares in Usiminas, as the company is known, to...

  • LAUNCESTON, Australia, May 23- China's imports of iron ore are likely to have maintained their recent strength in May, as top suppliers Australia and Brazil continue to squeeze market share from smaller rivals. The ongoing robustness in iron ore imports make sense given China's steel mills are continuing to crank out products at elevated rates amid hopes for a...

  • SHANGHAI, May 21- U.S. efforts to protect its steel industry will not solve the sector's fundamental problems, which stem from past protectionist measures, China's Ministry of Commerce said on Saturday. The comments were posted on the ministry's website following a decision on Friday by the U.S. International Trade Commission to continue probing imports of...

  • Expects slower near-term growth in China: Pro

    Ewen Cameron Watt, senior director at BlackRock Investment Institute, talks about the China’s steel industry and its impact on the domestic and international markets.

  • China is biggest problem for steel oversupply: CEO

    Cliffs Natural Resources chairman, president & CEO, Lourenço Gonçalves, explains why it's time to take action on the glut in the steel market.

  • LAUNCESTON, Australia, May 19- If you want an example of how not to solve an intractable problem, look no further than the tit-for-tat measures on steel announced by the United States and China. China slammed the U.S. tariffs, accusing Washington of "unfair methods during the anti-dumping and anti-subsidy investigation into Chinese steel products."

  • US hikes taxes on China steel imports

    The Commerce Department is raising its import duties on Chinese steelmakers by more than a five-fold increase.

  • BEIJING, May 18- China's central government-controlled firms will cut steel production capacity by 10 percent over the 2016-2017 period, the cabinet said on its microblog on Wednesday. Coal production capacity would also be cut by 10 percent at these firms over the same period, the statement said, without specifying what the 2016-2017 period meant.

  • BEIJING, May 18- China's central government-controlled firms will cut steel production capacity by 10 percent over the 2016-2017 period, the cabinet said on its microblog on Wednesday. Coal production capacity will also be cut by 10 percent at these firms over the same period, the statement said, without specifying what the 2016-2017 period meant.

  • BEIJING, May 18- The United States has employed "unfair methods" during an anti-dumping investigation into Chinese cold-rolled steel products and should rectify its mistakes as soon as possible, China's Commerce Ministry said on Wednesday. "China urges the United States to strictly obey World Trade Organization rules and rectify its mistaken methods as soon...

  • *China says to maintain steel export tax rebates. *U.S. a small export market for China steel. SHANGHAI/ WASHINGTON, May 18- China said it would persist with controversial tax rebates to steel exporters to support the sector's painful restructuring programme, defying a United States move to impose punitive import duties on Chinese steel products.

  • *China home prices post fastest growth in two years in April. MELBOURNE, May 18- London copper sank to its lowest since mid February on Wednesday as the dollar rallied after a stream of encouraging U.S. economic data supported the case for more rate rises this year. The most-active Shanghai Futures Exchange copper contract ended down 1.1 percent at 35,380 yuan a...