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Metals and Mining Steel Producers

  • Steel executives send letter to President Trump

    CNBC's Morgan Brennan reports on a letter sent to President Trump from steel executives.

  • WASHINGTON, Aug 24- American steel industry executives have appealed directly to President Donald Trump for immediate import restrictions in a letter seen by Reuters, as a U.S. Commerce Department steel national security probe languishes and steel imports surge back to 2015 levels. Imports captured 30 percent of the U.S. market in June, according to Commerce...

  • JOHANNESBURG, Aug 24- Copper rose to a near three-year high on Thursday on signs of stronger demand in top consumer China while inventories fell in London warehouses. Copper, which is up nearly 20 percent this year, has benefited from supply disruptions and declining stocks with firm demand from China also supporting. CHINA IMPORTS: July imports of refined...

  • JOHANNESBURG, Aug 24- Copper rose to a near three-year high on Thursday on signs of higher demand in top consumer China while inventories fell in London warehouses. Copper, which is up nearly 20 percent this year, has benefited from supply disruptions and declining stocks with firm demand from China also supporting. CHINA IMPORTS: July imports of refined copper...

  • TOKYO, Aug 24- Japan's Nikkei share average fell to a 3-1/ 2- month low on Thursday, dragged down by Wall Street losses, a stronger yen and steel makers after reports that the country's biggest producer was cutting prices. Shares on Wall Street fell overnight after a threat from U.S. President Donald Trump to shut down the government if Congress fails to fund a Mexico...

  • TOKYO, Aug 24- Japan's Nikkei share average slipped towards a 3-1/ 2- month low on Thursday, dragged down by Wall Street losses, while steel makers fell after reports that Toyota Motor Corp was looking to cut the price of steel supplied to component makers. Japanese shares took their cues from Wall Street, which fell overnight as a threat from U.S.

  • *Three-month nickel on the London Metal Exchange gained 0.9 percent to $11,770.00 a tonne by 0125 GMT, after touching $11,825 overnight, the highest since last November. *The most-traded nickel contract on the Shanghai Futures Exchange rose 2.62 percent to 94,500 yuan a tonne, the highest since early March. *SHANGHAI COPPER: Shanghai Futures Exchange copper was...

  • SHANGHAI, Aug 23- China's main stock indexes ended little changed on Wednesday, with profit taking in steel firms offsetting a rise in banks ahead of earnings reports that could set the tone for financials for the rest of the year. A statement from the China Iron and Steel Association that it saw little room for further price surges dragged on the sector and...

  • *Final dividend rises to $0.43 from $0.14. It generated more cash than even in some years of the mining boom, slashed net debt by nearly $10 billion to $16.3 billion and tripled its final dividend to $0.43 a share. Underlying profit of $6.7 billion was below expectations for $7.4 billion, according to Thomson Reuters I/B/E/S, but the market focused on the lower debt...

  • LONDON, Aug 22- Copper hit a three-year high and nickel touched its strongest in eight months on Tuesday as mostly technical signals prompted speculators and funds to pour more cash into base metals. "There's nothing really fundamental to drive things onwards from here, so I think it's a bit of misplaced euphoria and trend-following buyers jumping on the...

  • *Final dividend rises to $0.43 from $0.14. It generated more cash than even in some years of the mining boom, slashed net debt by nearly $10 billion to $16.3 billion and tripled its final dividend to $0.43 a share. "Net debt looks very impressive... so the cash looks like it was applied to deleveraging versus extra dividends," Shaw and Partners analyst Peter O'Connor...

  • *Final dividend increased to $0.43 from $0.14. SYDNEY, Aug 22- Global mining giant BHP Billiton committed to quitting its underperforming U.S. shale oil and gas business on Tuesday, as it posted a surge in annual underlying profit to $6.7 billion. The world's biggest mining house, which was buoyed by a recovery in industrial commodities markets, pleased...

  • SYDNEY, Aug 22- Global mining giant BHP Billiton posted a surge in annual underlying profit to $6.7 billion on Tuesday, but missed forecasts, and said it was putting its U.S. shale assets up for sale. "Net debt looks very impressive.. so the cash looks like it was applied to deleveraging versus extra dividends," Shaw and Partners analyst Peter O'Connor said.

  • BHP tripled its final dividend to $0.43 a share, also below expectations, but pleased shareholders with a focus on reducing net debt, which was cut by nearly $10 billion. "Net debt looks very impressive.. so the cash looks like it was applied to deleveraging versus extra dividends," Shaw and Partners analyst Peter O'Connor said. Fund managers including Elliott...

  • There's no question we're in an economic trade war and have been for many many years: Zekelman

    Barry Zekelman, Zekelman Industries CEO, weighs in on President Trump's trade agenda, specifically with China.

  • Paul O'Malley, managing director, Bluescope Steel says rising energy costs are a major reason for a profit warning.

  • 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 "...

  • These stocks poised to benefit from Trump infrastructure agenda

    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...