Metals and Mining Steel Producers

  • GENEVA, June 10- Liberty House Group, which wants to buy the British assets of Tata Steel, has its eye on other steel plants in the United States, Africa and India if the Tata deal doesn't happen, Executive Chairman Sanjeev Gupta told Reuters. Liberty is one of a number of companies that have put forward offers to buy Tata Steel's loss-making UK operations and save...

  • A cargo train outside the Songting Iron & Steel Mill in Tangshan, China, June 6, 2016.

    Local officials and businesses buck Beijing’s efforts to close inefficient industries that are hobbling economic growth. The NYT reports.

  • June 9- Japan said it may ask the World Trade Organization to help resolve a dispute related to India's "safeguard" tariffs on the import of hot-rolled steel. Japan will make repeated requests to the Indian authorities to ensure the consistency of their measures with the WTO agreements, the Japanese Ministry of Economy, Trade and Industry said in its annual...

  • June 8- Japan said it may ask the World Trade Organization to help resolve a dispute related to India's "safeguard" tariffs on the import of hot-rolled steel. India has extended its safeguard import taxes on some steel products until March 2018, in a bid to stop cheap overseas purchases from flooding its market and bolster the domestic steel sector.

  • Beijing, June 8- China's exports fell more than expected in May as global demand remained stubbornly weak, but imports beat forecasts, pointing to improving domestic demand and adding to hopes that the world's second-largest economy may be slowly stabilizing. The improvement likely reflected higher commodities prices but also a pick-up in domestic demand...

  • BEIJING, June 7- China committed during bilateral talks to continue "market-oriented exchange rate reform that allows for two-way flexibility" of its yuan currency, U.S. Lew also said that China officials stressed there is no basis for sustained depreciation of the yuan, which is a major worry hanging over jittery global financial markets.

  • *Funding underlines focus on industrial CCS, shift to China. BRUSSELS, June 6- BHP Billiton on Monday announced a $7.4 million donation to Peking University to develop technology to capture carbon emissions from the iron and steel industries. BHP Billiton CEO Andrew Mackenzie said capturing carbon and finding industrial uses for it had the potential to be a...

  • BEIJING, June 5- China's excess industrial capacity will have a "corrosive" impact on its future growth and efficiency unless it is reduced, U.S. Lew, speaking to students in Beijing, said he hoped to make progress on the excess capacity issue in bilateral meetings with senior Chinese officials starting on Monday in Beijing. "Excess capacity is not just a domestic...

  • BEIJING, June 5- China's excess industrial capacity will have a "corrosive" impact on its future growth and efficiency unless it is reduced, U.S. "Excess capacity is not just a domestic issue in China," Lew said. China has criticized U.S. anti-dumping duties targeting Chinese steelmakers as irrational and harmful to diplomatic ties.

  • TORONTO, June 2- ArcelorMittal, the world's largest steelmaker, is suspending a major project at its Mont-Wright iron ore mine in northern Quebec due to poor market conditions, the company said on Thursday. Oversupply and waning demand have depressed spot iron ore prices to $49.30 a tonne, down from an all-time high of about $190 in 2011.. In 2013, ArcelorMittal...

  • TORONTO, June 2- ArcelorMittal, the world's largest steelmaker, is suspending a major expansion of its Mont-Wright iron ore mine in northern Quebec due to poor market conditions, a spokesman said on Thursday. In 2013, ArcelorMittal sold a 15 percent stake in Mont-Wright to South Korean steelmaker Posco and Taiwan listed China Steel Corp for $1.1 billion.

  • *ECB keeps rates on hold; no supply ceiling from OPEC. LONDON, June 2- Euro zone shares gave away early gains on Thursday after OPEC failed to agree an output ceiling for oil and the European Central Bank revised its inflation and growth forecasts only slightly higher. Oil and gas shares among the top sectoral fallers, down 0.5 percent after an OPEC delegate told...

  • LONDON, June 2- European shares edged into negative territory on Thursday after OPEC failed to agree an output ceiling for oil and the European Central Bank revised its inflation and growth forecasts only slightly higher. Oil and gas shares were the top sectoral fallers, down 1 percent after an OPEC delegate told Reuters that OPEC was not changing its ouptut...

  • LONDON, June 2- Carmakers in Britain are making plans to get more steel from continental Europe, putting pressure on Tata Steel to secure a sale of its troubled UK plants before it loses customers. India's Tata Steel has serious offers on the table after putting its entire UK business up for sale in March to stem heavy losses, blaming costs, market weakness and...

  • BRUSSELS, June 2- Two of Russia's largest steelmakers NLMK and Severstal have made formal complaints against two EU officials, alleging bullying during an EU investigation into whether China and Russia exported steel at unfairly low prices. Tensions between Russia and Brussels have been high since Moscow's seizure of Ukraine's Crimea region in March 2014...

  • MILAN, June 2 (Reuters)- European shares steadied on Thursday, with investors avoiding taking large positions ahead of the European Central Bank's (ECB) policy meeting later in the day, while Voestalpine was boosted by well-received results. However some investors expect some volatility when the central bank's chief Mario Draghi speaks after the policy...

  • China will move closer to launching credit-default swaps for the first time under the recommendations, which were made by the financial derivative committee under the state-controlled National Association of Financial Market Institutional Investors, the sources said. The committee met recently to amend rules governing the rarely used credit risk...

  • SHANGHAI, June 2- China's Hebei Iron& Steel Group, its biggest steelmaker by output, accused the United States of breaching WTO rules and said U.S. protectionism is damaging the world steel trade, in a statement posted on its website on Thursday. The ITC identified 40 Chinese steelmakers and distribution subsidiaries as respondents in its probe, including...

  • SAO PAULO, May 31- A change of chief executive at Brazilian steelmaker Usiminas has accelerated plans for controlling shareholders Nippon Steel& Sumitomo Metal Corp and Ternium SA to break up the company, a source close to the Japanese firm said on Tuesday. The Usiminas board last week appointed veteran executive Sergio Leite to the top job in a contested vote.

  • TOKYO, June 1- Japan's biggest steelmaker, Nippon Steel& Sumitomo Metal Corp, said on Wednesday there was no truth to reports that it was planning to break up its Brazilian affiliate Usiminas. A source close to the Japanese firm said on Tuesday that the recent change of chief executive at Brazilian steelmaker Usiminas has accelerated plans for controlling...