steel

Japanese investors were giddy with excitement as positive earnings reports and the announcement of a major merger flooded the news. The Nikkei 225 advanced 1.1% on Friday, while markets in Hong Kong and China remained closed for the Lunar New Year.

Anglo-Australian mining company Rio Tinto (RIO) made a $3.5 billion bid for Riversdale Mining (RFLMF). The offer values Riversdale at about A$15 a share, Reuters reported. That's a 6% premium on Riversdale's close on Dec. 3. The shares rose today to A$16.31 each. "While discussions with Rio...

Walter Energy Inc. (WLT), a southern Appalachia producer of coal for making steel, agreed to buy Canadian company Western Coal Corp. (WTN) for C$3.3 billion ($3.3 billion). Walter Energy made an offer of C$11.50 per share in cash or 0.114 of a Walter Energy share for each share of Western Coal,...

A building boom -- and the constrained supply of materials due to mandated energy cuts -- sent Chinese cement, metal and building-equipment stocks up Thursday. Meanwhile, Hong Kong and Japanese exporters benefited from improving consumer sentiment and falling unemployment in the U.S.

Mining company Rio Tinto (RIO) produced record quantities of iron ore in the third quarter on rampant demand from China. The company produced a whopped a 47.6 million tons of iron ore in the three months to September, BBC News said. Sponsored Links China is importing huge amounts of iron ore...

Toyota Motor (TM) has reached an agreement with one of the world's largest steelmakers that raises prices the automaker pays for steel, according to a report. Under terms of the pact, Toyota will pay an additional 20,000 yen ($220) a metric ton to Nippon Steel in the April-September period compared...

Big Steel is finally turning around, and U.S. Steel is one of the leaders. The giant global producer is well positioned to be a key player in promising U.S. and European markets, and is deftly situated in terms of raw materials and financial resources.

News that business inventories and industrial production are rising suggests the U.S. economic recovery is on track. But unlike previous recessions, there are five potential "potholes" in the road ahead. Declining employment and increasing commercial real estate foreclosures are two possible biggies.

The U.S. International Trade Commission's decision favoring domestic steelmakers over Chinese exporters brought an immediate condemnation from China. It also likely ensures that the growing spat, which also includes Europe, will extend into 2010.