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Metals and Mining Steel Producers

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  • *China import tariffs 24.3-25.2 pct, for Taiwan 10.9-12 pct. BRUSSELS, March 25- The European Union will impose anti-dumping duties from Thursday on imports of cold-rolled stainless steel sheet from China and Taiwan, according to a notice on Wednesday in the EU's Official Journal. Eurofer has said China and Taiwan shipped 620 million euros of cold-rolled...

  • BRUSSELS, March 25- The European Union will impose punitive anti-dumping duties from Thursday on imports of stainless steel cold-rolled sheet from China and Taiwan, according to a notice on Wednesday in the EU's Official Journal. Eurofer has said China and Taiwan shipped 620 million euros of cold-rolled stainless steel into the EU in 2013, some 17 percent of...

  • MELBOURNE, March 24- London copper stretched gains to hit the highest in more than two months on Tuesday, as a weaker dollar fueled chart-based buying, but traders said consumers were still holding back on the hope of weaker prices. *Three-month copper on the London Metal Exchange jumped to $6,203.50, the loftiest since Jan. 5, before easing to $6,180 a tonne by 0106...

  • SHANGHAI, March 23- Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. In a draft of a revised restructuring plan for the industry issued late last week, Beijing included a line saying it would support mills' efforts to buy assets abroad, with...

  • Steel hit by strong dollar Friday, 20 Mar 2015 | 1:31 PM ET
    Steel hit by strong dollar

    Analysts expect another tough year for the steel industry, reports CNBC's Morgan Brennan.

  • LONDON, March 20- The iron ore market is turning ever more ugly. The price of ore for immediate delivery to China's Tianjin port is currently assessed by The Steel Index at $54.50 a tonne. "Peak steel" was penciled in for the next decade, an assessment that looks ever more questionable as China's steel producers reel from a toxic mix of slowing demand from the property...

  • China slowdown pushes coal, iron ore to fresh lows Friday, 20 Mar 2015 | 4:00 AM ET

    By Henning Gloystein SINGAPORE, March 20- Key Asian mining markets are being thrown into crisis by China's slowdown and industrial reforms, with coal and iron ore prices falling this week to levels last seen before the global financial crisis. Benchmark Australian coal settled below $60 a tonne on Thursday, the lowest price since before 2008/ 2009. Prices of...

  • March 19- Nucor Corp, the No.1 U.S. steelmaker, cut its profit forecast for the first quarter, saying higher imports were hurting steel prices. Nucor expects imports to slow down in the second quarter, but remain at "excessively high levels", the company said on Thursday. Nucor estimated earnings of 10- 15 cents per share for the first quarter ending April 4.

  • U.S. steelmaker Nucor cuts profit forecast Thursday, 19 Mar 2015 | 9:23 AM ET

    March 19- U.S. steelmaker Nucor Corp cut its first-quarter profit forecast, hurt by a fall in steel prices due to higher imports. Nucor estimated on Thursday earnings of 10- 15 cents per share for the quarter ending April 4. The company had earlier said it expected profit to be above 35 cents per share earned a year earlier.

  • MOSCOW, March 19- Russian steelmaker MMK reported its highest core earnings since 2009 on Thursday, helped by a weaker rouble, which cut its costs in dollar-terms in 2014 and is expected to reduce them further in 2015.. MMK, controlled by businessman Viktor Rashnikov, joins other Russian exporters who have benefitted from a 43- percent decline in the rouble...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, March 19- It's become conventional wisdom that the commodities boom is over, and while the era of rising prices is gone, figures from the Australian government suggest the surge in volumes is well under way. Australia is the world's top shipper of iron ore and metallurgical coal, number two in thermal...

  • SYDNEY/ NEW YORK, March 18- Australia's Fortescue Metals Group Ltd, the world's fourth-largest iron ore miner, pulled a $2.5 billion high-yield bond issue after investors rattled by tumbling ore prices balked at the offer, sending its shares to six-year lows. The scrapped refinancing deal is the latest sign of anxiety about massive oversupply in the iron ore...

  • LONDON, March 17- A 15 percent rally in European shares this year has driven valuations to seven-year highs, leading investors to seek whatever bargains are left in distressed sectors such as banks and mining. The rally, fuelled by the European Central Bank's asset-purchase progamme, has pushed the average price-to-book multiple on the STOXX Europe 600 index...

  • *Europe's manufacturing center shifts to Germany and hinterland. *UK, France, Spain and Italy seen losing industrial capacity. BRUSSELS, March 15- Once depicted as a "Blue Banana" stretching from Manchester to Milan, Europe's industrial heartland has moved eastwards just as its political center of gravity has shifted to Germany.

  • HOUSTON, March 16- A tentative national agreement to end a six-week strike at twelve U.S. refineries has struggled to win ratification at eight plants as workers and companies struggle to settle local issues, according to union officials. The deal reached on Thursday by the United Steelworkers and lead industry negotiator Royal Dutch Shell Plc to end the...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, March 13- Is China's President Xi Jinping walking in the footsteps of Margaret Thatcher, and if so, how far is prepared to go down the path of the former British leader? Xi is trying to shift China to a consumption-led growth model, and away from the heavy industries that, similar to Britain a century and half...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, the labor group and people familiar with the negotiations said on Thursday. "We salute the solidarity exhibited by our membership," said USW International President Leo Gerard. Lead industry negotiator Royal Dutch...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, sources familiar with the negotiations for a new labor accord said on Thursday. The tentative national agreement may not end strikes at all 12 refineries that have suffered walkouts as issues unique to local union...

  • SAO PAULO, March 12- Brazilian steelmaker Cia Siderurgica Nacional SA expects to double its sales on the U.S. market in 2015 to 600,000 tonnes with the help of a stronger dollar, the company's head of sales said on Thursday. Brazil's currency, the real, has weakened nearly 17 percent against the dollar so far in 2015 and is trading near 11- year lows.

  • HOUSTON, March 11- The United Steelworkers union signaled that lead refinery owner representative Shell Oil Co may offer a possible settlement in the coming days that could end the largest refinery strike in 35 years. "Policy committee traveling to Houston to review any proposals. The national agreement being negotiated by the USW and Shell Oil, the U.S. arm of...