Metals and Mining
Steel Producers
Harrison, a septuagenarian known for turnarounds of Canadian railroads, also slammed the Rail Customer Coalition for not discussing its complaints with him first. A Rail Customer Coalition spokesman said its letter reflected "broad agreement" among its members- which include chemical and agricultural companies, steel makers and beer producers- that "...
CNBC's Dominic Chu takes a look at several companies that will likely benefit from President Trump's new executive order which streamlines the approval process for infrastructure projects.
The rally in zinc, used for galvanising steel, comes as China steps up plans to develop infrastructure while capacity cuts in its steel industry reform boost prices, said analyst Daniel Hynes of ANZ in Sydney. "There a fair level of scepticism at the start of the year when China's infrastructure projects were announced but we're seeing much...
MELBOURNE, Aug 16- London zinc was edging towards its highest in a decade on Wednesday, boosted as a months-long rally in steel prices also pushes up markets for steelmaking raw materials. *LME aluminum hit its highest since November, 2014 at $2,065 a tonne as Chinese capacity cuts extend to the sector as Beijing tries to clean up its skies ahead of the winter...
BEIJING, Aug 15- The International Monetary Fund on Tuesday urged China to set more ambitious targets for its coal and steel industries to cut excess production capacity and bring more efficient plant on line as Beijing bids to steps up economic reforms. China, the world's top steel and coal producer, has vowed to launch a campaign to cut excess capacity in...
*U.S. steel stocks down 10 pct since July tariff delay. LONDON/ WASHINGTON, Aug 15- U.S. "Based on Ross's recent statements and our discussions with trade lawyers engaged in section 232, we still expect measures that will have a positive impact on U.S. steel prices," said Seth Rosenfeld, a steel industry analyst at Jefferies in London.
NORWOOD, Ohio— Herbie Mays is 3 M proud, and it shows— in the 3 M shirt he wears; in the 3 M ring he earned after three decades at the company's plant in suburban Cincinnati; in the way he shows off a card from a 3 M supervisor, praising Mays as "a GREAT employee." Barely 10 miles from his ranch-style brick home in this blue-collar city, GE Aviation has been expanding— and hiring.
BEIJING/ MANILA, Aug 14- China was pressuring its iron ore traders to stop buying the commodity from North Korea even before a United Nations Security Council vote this month to ban the trade as punishment for Pyongyang's missile tests, two traders said. The U.N. Security Council unanimously passed a resolution on Aug. 6 banning North Korea's exports of coal, iron,...
BEIJING, Aug 14- The typical summer lull across China's steel sector never arrived this year as mills have churned out record volumes in a rush to fill a supply gap caused by government-mandated closures and to cash in on high margins. China typically sees a slowdown in steel output because construction demand slows as building activity drop during the high...
*China July activity indicators all grow less than expected. BEIJING, Aug 14- China's strong economic growth showed visible signs of fading in July as lending costs rose and the gravity-defying property market cooled, though activity levels generally remained solid, propped up by a year-long construction spree. But economists do not expect any hard landing,...
*Market brushes off data indicating slowing China growth. SHANGHAI, Aug 14- China stocks were higher at the end of the morning session Monday following sharp falls on Friday, largely shrugging off official data indicating slowing growth in the world's second-largest economy. The Shanghai index fell 1.6 percent on Friday, its worst daily performance this year.
BEIJING, Aug 14- China's steel output hit a monthly record in July at 74.02 million tonnes, up 10.3 percent on a year ago as mills in the world's top producer continued to ramp up production even as Beijing intensified its war on smog. "However, due to Beijing's crackdown on low-end rebar and capacity cutbacks in the steel sector, mills are spurred by rallying profits...
*China July activity indicators all grow less than expected. *Industrial output +6.4 pct vs poll +7.2 pct. BEIJING, Aug 14- China's factory output slowed more than expected in July while investment and retail sales also disappointed, reinforcing views that the world's second-largest economy is starting to lose some steam as lending costs rise and the property...
LAUNCESTON, Australia, Aug 11- Anyone betting that the rally in China's steel and iron ore prices is going to continue unabated can't say they haven't been warned. In the past this sort of concern has translated into actions to cool markets, such as tighter trading rules on China's domestic exchanges, increased regulation and a ramping up of what could be...
LAUNCESTON, Australia, Aug 11- Anyone betting that the rally in China's steel and iron ore prices is going to continue unabated can't say they haven't been warned. In the past this sort of concern has translated into actions to cool markets, such as tighter trading rules on China's domestic exchanges, increased regulation and a ramping up of what could be...
*Russia's outstanding foreign debt seen shrinking further. But hard currency borrowing from Russia has declined since 2014, when Western sanctions were first imposed due to Russia's annexation of Crimea and its support of anti- Kiev rebels in eastern Ukraine. "Russia is a benign story-- supply risk is very low," said Chris Perryman, a portfolio manager at...
*Russia's outstanding foreign debt seen shrinking further. But hard currency borrowing from Russia has declined since 2014, when Western sanctions were first imposed due to Russia's annexation of Crimea and its support of anti- Kiev rebels in eastern Ukraine. "Russia is a benign story-- supply risk is very low," said Chris Perryman, a portfolio manager at...
BRUSSELS, Aug 10- The European Union has imposed provisional import duties of as much as 28.5 percent on certain Chinese corrosion-resistant steels after an eight-month investigation found that the products benefited from unfair subsidies. The Aug. 9 decision by the European Commission followed a complaint by steel association Eurofer whose members...
*Q3 EBIT 620 mln eur vs Reuters poll avg 493 mln eur. FRANKFURT, Aug 10- Thyssenkrupp will not be rushed into any deal with Tata Steel to merge their European steel businesses, its chief financial officer said, pouring cold water on investor hopes for a quick agreement. Britain's Sky News reported on Wednesday that Tata Steel was on the brink of detaching its British...
MELBOURNE, Aug 10- London copper and aluminium paused near their highest in more than two years on Thursday, amid profit-taking in wider markets as investors fretted about the simmering tensions between the United States and North Korea. Industry reform across China's steel and aluminium sectors that has seen capacity closures has helped drive the rally in...
