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May 7, 2021

Iron & Steel (TRBC level 4)

China shares end higher as some IT firms pledge against anti-competition

* SSEC 0.6%, CSI300 0.8% * HK->Shanghai Connect daily quota used 5.2%, Shanghai->HK daily quota used 0.7% * FTSE China A50 +0.5% BEIJING, April 14 (Reuters) – China shares rose on Wednesday, with IT firms leading the gains, as investors cheered internet platform companies pledging to avoid anti-competitive behaviours after......

BHP, Vale Samarco JV files for Brazil bankruptcy protection

FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado/File Photo RIO DE JANEIRO (Reuters) – Samarco Mineracao SA, a joint venture between Brazilian miner Vale SA and BHP Group Ltd, has filed for bankruptcy protection to prevent creditors’......

German steelworkers reach pay deal with union

BERLIN (Reuters) – Germany’s largest trade union, IG Metall, agreed a wage deal on Saturday for the roughly 70,000 workers in the iron and steel industry in north-west Germany. Under the agreement, which runs for 15 months and was struck after seven hours of talks, workers will receive lump-sum payments......

Brazil prosecutors to investigate Vale over Steinmetz complaint

By Gram Slattery, Clara Denina RIO DE JANEIRO (Reuters) – Rio de Janeiro police have begun investigating allegations brought by Israeli billionaire Beny Steinmetz that Brazilian miner Vale illegally concealed from its shareholders the conditions under which Steinmetz’s company BSGR was supposed to mine one of the world’s biggest iron......

U.S. appeals WTO decision in South Korea trade dispute

FILE PHOTO: A logo is pictured on the World Trade Organization headquarters (WTO) in Geneva, Switzerland, March 4, 2021. REUTERS/Denis Balibouse GENEVA (Reuters) – The United States has appealed against a World Trade Organization panel decision which recommended in January that Washington revise a series of duties imposed in the......

Top Chinese steelmaking city to punish firms that stray from anti-pollution plan

FILE PHOTO: Birds fly over a closed steel factory where chimneys of another working factory are seen in background, in Tangshan, Hebei province, China, February 27, 2016. REUTERS/Kim Kyung-Hoon BEIJING (Reuters) – Tangshan, China’s top steelmaking city, said it will punish firms that either have not taken the steps spelled......

China environment minister urges crackdown on steel mills’ illegal production

SHANGHAI/BEIJING (Reuters) – China’s Ministry of Ecology and Environment (MEE) urged top steelmaking city Tangshan to severely crack down on violations of atmospheric environment rules after it found four steel mills failed to implement production curbs during heavy pollution. Tangshan government had issued a second-level pollution alert on March 8,......

Brazil’s Vale agrees to $7 billion Brumadinho disaster settlement

By Marta Nogueira, Tatiana Bautzer RIO DE JANEIRO/SAO PAULO (Reuters) – Brazilian miner Vale SA said on Thursday it has reached a 37.7 billion real ($7 billion) agreement with prosecutors and the state of Minas Gerais to settle claims stemming from the collapse of a mining dam in 2019 which......

Fortescue pays royalties to Aboriginal group, a year late

MELBOURNE (Reuters) – Australia’s Fortescue Metals has pledged to pay nearly A$2 million ($1.4 million) in outstanding royalties to an Aboriginal partner, around a year after they were initially due, a spokesman for the group said on Thursday. The A$1.9 million figure represents full payments for 2019 and comes amid......

UPDATE 1-Thyssenkrupp shares rise on steel spin-off report

(Adds context) FRANKFURT, Jan 18 (Reuters) – Shares in Thyssenkrupp rose on Monday as traders pointed to a Bloomberg report which said that the group was considering a spin-off of its steel business, citing people familiar with the matter. Thyssenkrupp said that in addition to a potential sale of the......

Top five China commodities to eye for growth in 2021

SHANGHAI (Reuters) – A China-led economic recovery should boost demand for these commodities in 2021 after COVID-19 roiled global markets in 2020. FILE PHOTO: Workers pour molten iron into a mould at a workshop in Hangzhou, Jiangsu province, China July 24, 2019. REUTERS/Stringer COPPER Iron ore and steel outperformed in......

Nippon Steel plans to boost overseas capacity, scale down at home

TOKYO (Reuters) – Nippon Steel Corp is planning to raise output capacity in overseas markets such as India and the United States and reduce it in Japan to align with future demand levels, a company executive said. FILE PHOTO: The logos of Nippon Steel Corp. are didplayed at the company......

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