1/WALL STREET WATCHES WASHINGTON U.S. lawmakers negotiating a fresh dose of stimulus have reached an impasse. Trillions of dollars injected by the Federal Reserve and huge government spending increases have stemmed coronavirus-linked economic damage, fuelling ... More »
BEIJING (Reuters) – Profits at China’s industrial firms rose for a second straight month and at the fastest pace in over a year, adding to signs the country’s economic recovery from the coronavirus crisis is gaining momentum. The statistics bureau said on Mond... More »
FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, marking a break with tradition under which the business had been sacrosanct for centuries. “Nothing is off-limits anymore,” Martin... More »
LONDON (Reuters) – Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world.... More »
MEXICO CITY (Reuters) – Mexico would accept a U.S. demand on steel in the United States-Mexico-Canada Agreement if the rule took effect at least five years after the trade pact’s ratification, Mexican Foreign Minister Marcelo Ebrard said on Sunday. Mexican law... More »
ROME (Reuters) – ArcelorMittal (MT.AS) is drafting a plan to re-commit to the 2018 deal, under which it bought the troubled Ilva steel plant in southern Italy, on three conditions, Il Messaggero daily reported on Monday. After withdrawing from the contract, th... More »
BEIJING (Reuters) – Many privately held firms in Shandong, China’s third-biggest province by economic output, are struggling to repay short-term debt due to declining industry fundamentals, entangled cross guarantees and ill-managed investments, S&P Global Rat... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Monday demanded Turkey stop its military incursion in Syria and imposed new sanctions on the NATO ally as Trump scrambled to limit the damage from his much-criticized decision to clear U.S. troops from Turk... More »
WASHINGTON (Reuters) – Republican U.S. Senator Lindsey Graham, who has been critical of President Donald Trump’s decision to pull American troops out of northeast Syria, said on Monday he strongly supports Trump’s decision to sanction Turkey over its invasion ... More »
BERLIN (Reuters) – Chancellor Angela Merkel said on Wednesday that the trade conflict between the United States and China was hitting Germany, which has traditionally relied on exports to propel its economy. “We have international uncertainty due to the U.S.-C... More »
BENGALURU (Reuters) – Expansion in India’s manufacturing sector hit its slowest in 15 months in August as demand and output grew at their weakest pace in a year and cost pressures increased, a private sector survey showed on Monday. The survey comes after offi... More »
BEIJING (Reuters) – The spread between seaborne iron ore heading to China and iron ore at China’s ports has widened to the highest in at least two years, following an increase in shipments from Australia and Brazil as disrupted mines gradually come back on tra... More »
BEIJING (Reuters) – Chinese state media said on Sunday the United States has shipped several million tonnes of soybeans to China since the two countries’ leaders met in June, although U.S. government data shows that the volume was much less. The U.S.-China tra... More »
TOKYO/SEOUL (Reuters) – Japan will tighten curbs on exports of high-tech materials used in smartphone displays and chips to South Korea amid a growing dispute over South Koreans forced to work for Japanese firms during World War Two, the industry ministry said... More »
TOKYO (Reuters) – Japan plans to tighten restrictions on the export of high-tech material used in smartphones and chips to South Korea from July 4 in connection with a dispute over a South Korean ruling on war-time forced labor, the Sankei newspaper reported o... More »
WASHINGTON (Reuters) – A wide range of U.S. companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing, electronics and other consumer goods as the Trump administration prepares new tariffs on remai... More »
MEXICO CITY (Reuters) – Mexico’s president and the top U.S. business lobbying group called on President Donald Trump to back down from a threat to impose punitive tariffs on Mexican imports, in a dispute over migration that could shock Mexico’s economy. Trump ... More »
CHICAGO (Reuters) – U.S. President Donald Trump said on Sunday he would raise tariffs to 25 percent from 10 percent on $200 billion of Chinese goods. The United States has levied tariffs on a total of $250 billion of Chinese imports, global steel and aluminum ... More »
MEXICO CITY/OTTAWA (Reuters) – More than six months after the United States, Mexico and Canada agreed a new deal to govern more than $1 trillion in regional trade, the chances of the countries ratifying the pact this year are receding. The three countries stru... More »
WASHINGTON/BRUSSELS/BEIJING (Reuters) – U.S. President Donald Trump’s blunt-force use of tariffs in pursuing his “America First” trade agenda has angered many, from company executives to allied governments and members of both parties of Congress. But there’s o... More »
LAUNCESTON, Australia – If the sharp plunge in China’s exports in February shows anything, it’s that a gap is opening between what the country is shipping out and its still resilient imports of major commodities. Exports dropped 20.7 percent in February from t... More »
FRANKFURT (Reuters) – Germany’s car industry is to invest nearly 60 billion euros ($68 billion) over the next three years on electric cars and automated driving, the head of the VDA car industry association said ahead of the Geneva motor show. “We will invest ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Friday he may extend a March 1 deadline for reaching a trade deal with China while keeping current tariffs in place, adding that the negotiations are “very complicated.” “There is a possibility that I ... More »
SAO PAULO (Reuters) – Miner ArcelorMittal said in a written statement on Friday that it evacuated a Brazilian town of about 200 inhabitants near one of its dams in Minas Gerais state after conducting more rigorous inspections of the structure. The company’s de... More »
GARY, Indiana (Reuters) – United States Steel Corporation founded Gary, Indiana in 1906 – naming it after co-founder Elbert Henry Gary – and the city’s fortunes have been closely tied to the company ever since. When the firm started losing business to cheap As... More »
WASHINGTON (Reuters) – U.S. President Donald Trump’s administration on Sunday lifted sanctions on aluminum giant Rusal and other Russian firms linked to oligarch Oleg Deripaska, defying a Democratic-led push in the U.S. Congress to maintain the restrictions. E... More »
BRUSSELS (Reuters) – European Union countries are expected to next week approve a scheme to limit imports of steel into the bloc following U.S. President Donald Trump’s imposition of tariffs on steel and aluminum entering the United States. The vote on Jan. 16... More »
LONDON (Reuters) – Banksy fans are flocking to the Welsh town of Port Talbot to see a new mural by the elusive British street artist depicting a child covered in snow that is in fact ash from a burning bin. The subversive artist confirmed on Instagram that the... More »
OTTAWA (Reuters) – Canada takes U.S. President Donald Trump’s comments about pulling out of NAFTA seriously and has no indication when the White House might act, Finance Minister Bill Morneau said on Monday. Morneau, speaking to a New York event arranged by Po... More »
WASHINGTON (Reuters) – U.S. President Donald Trump has appointed U.S. Trade Representative Robert Lighthizer to oversee a new round of trade talks with China aimed at defusing longstanding trade tensions and heading off a wider trade war, a White House officia... More »
ABOARD AIR FORCE ONE (Reuters) – U.S. President Donald Trump said on Saturday he will give formal notice to the U.S. Congress in the near future to terminate the North American Free Trade Agreement (NAFTA), giving six months for lawmakers to approve a new trad... More »
BERLIN (Reuters) – The mood among German investors slumped in July to its lowest since August 2012, a survey showed on Tuesday, soured by concerns about escalating trade tensions with the United States. The ZEW research institute said its monthly survey showed... More »
MOSCOW (Reuters) – Russian Prime Minister Dmitry Medvedev has signed a decision imposing extra duties of 25-40 percent on some imports from the United States in response to Washington’s tariff move, the Russian economy ministry said on Friday. The extra duties... More »
WASHINGTON (Reuters) – President Donald Trump is running out of time to deliver a revamp of the North American Free Trade Agreement (NAFTA) he promised for this year and people involved in the talks say the crunch is largely of his administration’s own making.... More »
BERLIN (Reuters) – Germany is worried by signs of weakening in the network of multilateral organizations and agreements designed to foster international cooperation, Chancellor Angela Merkel said on Monday. Merkel blamed the fraying of the multilateral order o... More »
(Reuters) – The Canadian International Trade Tribunal (CITT) said on Monday it has initiated a preliminary dumping inquiry into steel imported from China, South Korea and Vietnam. The tribunal will investigate whether the alleged dumping and subsidizing of “co... More »
BRUSSELS (Reuters) – Europe’s top trade official Cecilia Malmstrom will meet U.S. counterparts Wilbur Ross and Robert Lighthizer in Paris on Wednesday, two days before a temporary reprieve from U.S. steel and aluminum tariffs is due to expire. “A bilateral mee... More »
BEIJING (Reuters) – Steel mills in China are spending big on equipment that shreds cars and other junk metal for use as raw material, as government demands to make smoke-stack industries cleaner continues to reshape heavy manufacturing. Investing in scrap-proc... More »
BEIJING (Reuters) – China reported weaker-than-expected investment and retail sales in April and a drop in home sales, clouding its economic outlook even as policymakers try to navigate debt risks and defuse a heated trade row with the United States. Fixed ass... More »
DALIAN/MANILA (Reuters) – China plans to open more of its futures contracts to foreign investors, a senior official said on Friday, as Beijing launched its “internationalised” iron ore contract as part of a bid to boost its sway over pricing of major commodity... More »
NEW DELHI (Reuters) – India would lodge a trade dispute against the United States at the World Trade Organisation if Washington does not grant it exemptions from higher tariffs on steel and aluminum, three government officials involved in trade talks told Reut... More »
KANE COUNTY, Ill. (Reuters) – Lucas Strom, who runs a century-old family farm in rural Illinois, canceled an order to buy a new $71,000 grain storage bin last month – after the seller raised the price 5 percent in a day. The reason: steel prices jumped right a... More »
BEIJING (Reuters) – China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a spat between the world’s biggest economies in response to U.S. duties on imports of aluminum and steel.... More »
WASHINGTON (Reuters) – The Trump administration this week will unveil the list of Chinese imports targeted for U.S. tariffs to punish Beijing over technology transfer policies, a move expected to intensify trade tensions between the world’s two largest economi... More »
The glass entranceway to Metal Box InternationalÕs toolbox factory is seen in Franklin Park, Illinois, U.S., February 21, 2018. Picture taken February 21, 2018. REUTERS/Timothy Aeppel FRANKLIN PARK, Ill. (Reuters) – Nestled in an industrial park near the end o... More »
FILE PHOTO: South Korean Finance Minister Kim Dong-yeon speaks during his inaugural ceremony in Sejong government complex in Sejong, South Korea, June 15, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea will “deploy all possible means” to respond to U.... More »
U.S. President Donald Trump speaks in support of Republican congressional candidate Rick Sacconne during a Make America Great Again rally in Moon Township, Pennsylvania, U.S., March 10, 2018. REUTERS/Joshua Roberts WASHINGTON (Reuters) – U.S. President Donald ... More »
Senator Elizabeth Warren (D-MA) questions Alex Azar (not pictured) during a Senate Health, Education, Labor and Pensions Committee hearing on his nomination to be Health and Human Services secretary on Capitol Hill in Washington, U.S., November 29, 2017. REUTE... More »
U.S. President Donald Trump listens to reporters as walks with first lady Melania Trump on South Lawn of the White House upon their return to Washington, U.S., from Palm Beach, Florida, March 3, 2018. REUTERS/Yuri Gripas WASHINGTON (Reuters) – A top trade advi... More »
FILE PHOTO: Rep. Kevin Brady (R-TX), Chairman of the House Ways and Means Committee, arrives for a Republican conference meeting at the U.S. Capitol in Washington, U.S., December 20, 2017. REUTERS/Aaron P. Bernstein MEXICO CITY (Reuters) – An influential U.S. ... More »
Britain’s Prime Minister Theresa May talks to Andrew Marr for the Marr Show on BBC television in London, Britain March 2, 2018. Picture taken March 2, 2018. Jeff Overs/BBC/Handout via REUTERS LONDON (Reuters) – British Prime Minister Theresa May told U.S. Pres... More »
U.S. President Donald Trump waves upon his arrival in West Palm Beach, Florida, U.S., March 2, 2018. REUTERS/Kevin Lamarque MEXICO CITY (Reuters) – From a hotel in Mexico City, Ann Wilson, a senior executive at the U.S. Motor and Equipment Manufacturers Associ... More »
Mexico’s chief negotiator Kenneth Smith speaks to journalists at the hotel where the seventh round of NAFTA talks takes place, in Mexico City, Mexico March 2, 2018. REUTERS/Edgard Garrido MEXICO CITY (Reuters) – U.S., Mexican and Canadian trade experts leading... More »
WASHINGTON (Reuters) – U.S. President Donald Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, after his plan to put tariffs on steel and aluminum imports triggered threats of retaliation from trading partners and a slide in s... More »
DETROIT (Reuters) – If U.S. President Donald Trump goes ahead with sweeping tariffs on steel and aluminum imports, it could lower profits for companies making everything from pickup trucks to canned soup, or result in higher prices for consumers. Trump has thr... More »
FILE PHOTO: Steel pipes for sale are displayed at a shop in the Mullae-dong steel product district in Seoul July 13, 2010. REUTERS/Jo Yong-Hak/File Photo SEOUL/SYDNEY (Reuters) – U.S. President Donald Trump’s planned tariffs on steel and aluminum will distort ... More »
FILE PHOTO: A logo of Nippon Steel & Sumitomo Metal Corp is seen outside the company’s headquarters in Tokyo February 7, 2014. REUTERS/Yuya Shino/File Photo TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp (5401.T), Japan’s biggest steelmaker, said on Frid... More »
U.S. Chief Negotiator John Melle smiles at the hotel where the seventh round of NAFTA talks takes place, in Mexico City, Mexico, March 1, 2018. REUTERS/Edgard Garrido MEXICO CITY (Reuters) – Negotiators trying to rework the NAFTA trade deal on Thursday were hi... More »
Chairman, CEO and President of Nucor John Ferriola and U.S. Steel CEO Dave Burritt flank U.S. President Donald Trump as he announces that the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum during a meeting ... More »
FILE PHOTO: A trader walks the floor of the New York Stock Exchange in New York, U.S., February 6, 2018. REUTERS/Brendan Mcdermid SAN FRANCISCO (Reuters) – The specter of a trade war started by U.S. President Donald Trump rattled Wall Street on Thursday and ex... More »
FILE PHOTO: Canadian Foreign Minister Chrystia Freeland gives a speech during a joint news conference with Mexican Foreign Minister Luis Videgaray and U.S. Secretary of State Rex Tillerson in Mexico City, Mexico February 2, 2018. REUTERS/Henry Romero OTTAWA (R... More »
FILE PHOTO: Steel pipes for sale are displayed at a shop in the Mullae-dong steel product district in Seoul July 13, 2010. REUTERS/Jo Yong-Hak/File Photo HOUSTON/WASHINGTON (Reuters) – The U.S. oil and gas industry on Thursday slammed President Donald Trump’s ... More »
FILE PHOTO: A logo of Nippon Steel & Sumitomo Metal Corp is pictured outside its headquarters in Tokyo November 9, 2012. REUTERS/Yuriko Nakao/File Photo TOKYO (Reuters) – Nippon Steel & Sumitomo Metal Corp (5401.T), Japan’s biggest steelmaker, is worried that ... More »
A Ford worker inspects paint work on the body of a Ford Expedition SUV at FordÕs Kentucky Truck Plant as the No. 2 U.S. automaker ramps up production of two large SUV models in Louisville, Kentucky, U.S., February 9, 2018. REUTERS/Nick Carey LOUISVILLE (Reuter... More »
FILE PHOTO: A logo is seen on the roof of the ArcelorMittal steelworks headquarters in Ostrava, Czech Republic, April 1, 2016. REUTERS/David W Cerny/File Photo ROME (Reuters) – Steelmaker ArcelorMittal has told commissioners running Italy’s Ilva plant that it ... More »
A U.S. flag is seen during a welcoming ceremony in Beijing, China, November 9, 2017. REUTERS/Thomas Peter BEIJING (Reuters) – China’s Foreign Ministry on Monday defended trade with the United States as a win-win scenario ahead of a speech by U.S. President Don... More »
FILE PHOTO: The logo of Kobe Steel (Kobelco) is seen at the company headquarters in Kobe, western Japan October 24, 2017. REUTERS/Thomas White/File Photo TOKYO (Reuters) – Kobe Steel Ltd (5406.T) said on Friday it has been hit with lawsuits over its data tampe... More »
FILE PHOTO: Containers are seen at a port of Shanghai Free Trade Zone, February 11, 2014. REUTERS/Aly Song/File Photo BEIJING (Reuters) – China’s exports and imports unexpectedly accelerated last month in an encouraging sign for the world’s second-biggest econ... More »
A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen ESSEN, Germany (Reuters) – Demand for next-generation lifts and car components enabled Thyssenkrupp (TKAG.DE) to report its highes... More »
Kobe Steel Ltd said on Friday a lack of quality controls and a focus on profits was behind the widespread data tampering that has shaken up the supply chains of car and plane makers around the world. More »
Kobe Steel (5406.T) executives, including President Hiroya Kawasaki, will decide whether to resign to take responsibility for a cheating scandal after a report from independent investigators due by year-end, two sources told Reuters. More »
Embattled Kobe Steel Ltd has decided to withdraw its forecast for the current financial year as it struggles to quantify the impact of its data falsification scandal, the Nikkei business daily reported on Monday. More »
Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker and a shareholder of Kobe Steel Ltd, is willing to provide support to Kobe if it receives any request, the president of Nippon Steel said on Monday. More »
Activity in China's manufacturing sector likely grew at a slightly slower pace in October as the government began a major crackdown on air pollution, ordering many steel mills, smelters and factories to curtail or halt production over the winter, a Reuters pol... More »
Kobe Steel Ltd is considering withdrawing its earnings forecast for this fiscal year as it struggles to quantify the impact of its data falsification scandal, Kyodo reported on Monday. More »
When cheating becomes habitual, the consequences could be costly. More »
Crisis-hit Kobe Steel Ltd (5406.T) said on Friday its steel division has also falsely labeled products, the latest in a string of revelations confirming widespread cheating at the firm that has engulfed its global customers. More »
Boeing Co (BA.N), the world's biggest maker of passenger jets, has used Kobe Steel (5406.T) products that include those falsely certified by the Japanese company, a source with knowledge of the matter told Reuters. More »
The revelation that Japan's third-biggest steelmaker Kobe Steel Ltd (5406.T) fabricated data for some of its aluminum and copper and other products has left affected manufacturers scrambling to pin down the potential impact. More »
Europe's Airbus does not buy products directly from Japan's Kobe Steel but is investigating whether any of its suppliers have been affected by a cheating scandal at the Japanese group, an Airbus spokesman said. More »
U.S. President Donald Trump arrives at Joint Base Andrews, Maryland as he returns back from Bedminster, New Jersey to participate in the Celebrate Freedom Rally in Washington, July 1, 2017. REUTERS/Yuri Gripas U.S. President Donald Trump spoke to Chinese Presi... More »
Kosei Shindo, president of Nippon Steel & Sumitomo Metal Corp, makes a speech at a ceremony to welcome newly-hired employees in Tokyo, Japan April 3, 2017. REUTERS/Kim Kyung-Hoon Japanese steelmakers are concerned at “protectionism” by U.S. President Donald Tr... More »
An employee works at a steel factory in Dalian, Liaoning Province, China, July 4, 2016. China Daily/via REUTERS Washington’s move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to t... More »
China will continue to cut excess capacity in the steel sector in 2018, National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe said at a news conference on Monday. More »
China will ensure prices stay basically stable this year while at the same time deepening price reform, a vice chairman at the state planner said on Monday. More »
The logo of German steel-to-elevators group ThyssenKrupp AG is pictured during the company’s annual news conference in Essen, Germany, November 24, 2016. REUTERS/Wolfgang Rattay/File Photo Germany’s Thyssenkrupp (TKAG.DE) has looked at the option of splitting ... More »
Workers direct a crane lifting newly made steel bars at a factory in Dalian, Liaoning province, China, October 13, 2015. REUTERS/China Daily/File Photo China needs to reallocate half a million steel and coal workers in 2017 due to capacity cuts in these indust... More »
FILE PHOTO: People walk along a village road on a polluted day after the Chinese Lunar New Year holidays on the outskirts of Langfang, Hebei province, China, February 3, 2017. REUTERS/Jason Lee/File Photo China is considering forcing steel and aluminum produce... More »
Chimneys of a steel factory are pictured at an industrial area in Kawasaki, Japan, January 16, 2017. Picture taken January 16, 2017. REUTERS/Kim Kyung-Hoon Japan is threatening to take India to the WTO over restrictions that nearly halved its steel exports to ... More »
U.S. Commerce Secretary Penny Pritzker speaks during an interview with Reuters in Bogota, Colombia, October 20, 2016. REUTERS/Felipe Caicedo Massive government investment in China’s semiconductor industry risks distorting the global market for integrated circu... More »
Banks in the central Chinese province of Henan have pledged to extend more than 450 billion yuan ($67.47 billion) in new loans to “key sectors” this year to aid their restructuring efforts, the local regulator said in a notice published on Sunday. More »
BEIJING China’s Premier Li Keqiang told European Union officials on Wednesday that the country was committed to market reforms and remained determined to tackle a steel capacity glut that has sharpened tensions between the two sides. Li, speaking at an EU-Chin... More »
BEIJING European Commission President Jean-Claude Juncker told his Chinese counterparts on Wednesday that overcapacity in steel sector is a very serious problem. China is by far the world’s biggest steel producer and its annual output is almost double that of ... More »
CUBATAO, Brazil On a warm September morning in 2014, the 10-man board of Brazilian steelmaker Usiminas met on the ninth floor of a blue glass tower in Sao Paulo. In the room, the board members grappled over whether to fire the company’s chief executive and two... More »
LONDON Britain said on Sunday that UK steel producers must be considered for infrastructure and other government contracts involving steel supplies, as part of plans to find a long-term solution to a crisis in the industry. The government is looking for ways t... More »
SHANGHAI/SINGAPORE China’s mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country’s mammoth resource sector will drive up prices for raw materials. The fun... More »
BEIJING China said on Monday it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 percent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given. It was the first time China has giv... More »
TOKYO Toyota Motor Corp (7203.T) said on Monday it would halt production at all car assembly plants in Japan from Feb. 8 to Feb. 13 due to a steel shortage following an explosion at a steel plant of one of its affiliates. The world’s biggest automaker said on ... More »
BEIJING China’s output of electric power and steel fell for the first time in decades in 2015, while coal production dropped for a second year in row, illustrating how a slowing economy and shift to consumer-led growth is hurting industrial consumers. China’s ... More »
