SAO PAULO _ Companhia Siderurgica Nacional on Thursday reported second-quarter net income of $323.4 million. On a per-share basis, the Sao Paulo- based company said it had net income of 24 cents. This story was generated by Automated Insights using data from Zacks Investment Research.
DALIAN, China, Sept 20- China's steel demand will remain firm despite the country's escalating trade war with the United States, and any efforts by Washington to "sabotage" the Chinese economy will not succeed, the head of China's steel association said. China on Tuesday imposed fresh tariffs on $60 billion worth of U.S. imports, retaliating soon after the Trump...
DALIAN, China, Sept 20- Volumes at China's biggest physical iron ore trading platform may hit record levels this year, with demand for the steelmkaing raw material pushed up as steel output has been strong despite pollution-linked curbs, its president said. Despite production restrictions in many cities including top-producer Tangshan, China's overall...
HELSINKI, Sept 18- Finland's Outokumpu, one of the world's largest stainless steelmakers, said the United States would grant very few steel tariff exemption requests, adding it expected U.S. stainless prices to resume their upward trend as a result. As of Aug. 20, the U.S. Commerce Department had received more than 37,000 exemption requests but approved just...
*Workers' fears of activist Elliott overblown- Sievers. DUESSELDORF, Germany, Sept 18- Thyssenkrupp employees will not block a restructuring of the group as long as their interests are protected, its newly elected works council chief said. I will not back a restructuring of the company against the interests of employees, " Dirk Sievers told Reuters.
*Workers' fears of activist Elliott overblown- Sievers. DUESSELDORF, Germany, Sept 18- Thyssenkrupp employees will not block a restructuring of the group as long as their interests are protected, its newly elected works council chief said. I will not back a restructuring of the company against the interests of employees, " Dirk Sievers told Reuters.
WASHINGTON— President Donald Trump is declaring on Twitter a premature victory from his tariffs. Despite the manufacturing renaissance he claims, it's too soon to determine the full scope of any benefit or harm they might create. THE FACTS: In trade talks with China, Canada and Mexico, it's not entirely clear how much of an advantage the United States has gained...
LONDON, Sept 14- Copper prices fell on Friday as data in China pointing to a cooling economy and sabre rattling in a trade dispute between Washington and Beijing led to fears that Chinese demand for metals would fall more than expected. Worries that the U.S.- China trade dispute will damage growth in China, the world's largest metals consumer, have helped push the...
LONDON, Sept 14- British Steel, Britain's second largest steelmaker, said on Friday it would cut 400 jobs, blaming factors such as the falling pound, which has lost nearly 13 percent of its value since Britain voted to leave the European Union two years ago. The news comes as a blow to steel market bulls betting the sector has put the dark days of a crisis that saw 7,000...
LONDON, Sept 14- Copper prices fell on Friday as data in China pointing to a cooling economy and sabre rattling in a trade dispute between Washington and Beijing led to fears that Chinese demand for metals would fall more than expected. Worries that the U.S.- China trade dispute will damage growth in China, the world's largest metals consumer, have helped push the...
JAKARTA, Sept 14- Several global metals producers have set their sights on Indonesia's nickel reserves to tap an expected surge in demand for the metal for electric vehicle batteries. Indonesia's nickel ore has largely been overlooked by battery producers, as extracting the high purity nickel they need from it requires plants that are more costly and...
*Latest data reaffirms views economy continues to cool. BEIJING, Sept 14- China's growth looks set to cool further in coming months, with a barrage of August economic data doing little to dispel views that domestic demand is softening and government support measures will take some time to kick in. "We believe China's overall economy continues to slow, and this...
*Jan-Aug fixed-asset investment +5.3 pct y/y. BEIJING, Sept 14- China reported better-than-expected industrial output and retail sales on Friday, but a key investment gauge fell to a fresh record low, highlighting the challenges facing Beijing as it tries to support the economy in the face of rising U.S. tariffs. Industrial output rose 6.1 percent in August from...
BEIJING, Sept 14- China's steel output eased in August after hitting a record-high in July, crimped by tough production restrictions in major steelmaking regions as part of efforts to clear the country's smoggy skies. The world's biggest steel maker churned out 80.33 million tonnes of crude steel last month, according to data from the National Bureau of...
*Some in Korea left ruing choice of quota over tariffs. SEOUL/ TOKYO, Sept 13- As much as half of output capacity at some specialty South Korean steelmakers has ground to a standstill as an exemption to U.S. import tariffs they first hailed as a Seoul diplomatic coup turns out to be an quota bottleneck. South Korea was the first country to score the exemption back in...
*reuters:// realtime/verb= Open/url= cpurl:// apps.cp./ Apps/econ-polls? RIC= CNIO %3 DECI Reuters poll on industrial output. BEIJING, Sept 12- China is expected to report investment growth hovered at record lows in August and retail sales were among the weakest since 2003, reinforcing views that domestic demand remains soft and leaving the economy more vulnerable to...
BEIJING, Sept 8- China's trade surplus with the United States widened to a record in August even as the country's export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their cantankerous trade dispute. Over the first eight months of the year, China's surplus with its largest export market has risen...
ZURICH, Sept 7- Swiss steelmaker Schmolz+ Bickenbach has lost a $420 million contract to supply the U.S. Air Force with warhead bodies used in bunker-busting bombs and is considering an appeal, it said on Friday. The company confirmed a Bloomberg report that its U.S. unit lost the five-year deal because its foreign ownership drew complaints from rivals, although...
*Is also negotiating over a labor dispute in Canada. MELBOURNE, Sept 7- Workers at Alcoa's alumina and bauxite operations in Western Australia have voted to reject a proposed workplace agreement and will continue to strike, a trade union said on Friday. U.S. company Alcoa, which has continued to run its operations in the state of Western Australia, said in a...
*Italy's new govt had questions over validity of contract. ArcelorMittal signed a preliminary agreement last year to buy Ilva, which has the largest steel-producing capacity in Europe, but Italy's new government questioned the validity of the contract after it took office in June. "The deal means that public interest will not be served by annulling the tender,"...
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