Fortescue Metals Group Ltd (FMG.AX)
|Market Cap (Mil.):||$10,711.47|
|Shares Outstanding (Mil.):||3,113.80|
* Fortescue to make early $500 million repayment on Friday
* Fortescue shares down 4 pct; Rio, BHP at multi-week lows (Recasts, updates prices)
* Union says stoppages planned at low tide for minimal impact
BEIJING, July 17 - Zheng Boping, vice-general manager of Hunan Valin Steel, one of China's biggest steel producers, is being investigated for accepting bribes, state prosecutors said on Thursday.
* Rio Tinto Q2 output up, Fortescue sees more China mines closing (Updates prices)
SYDNEY - Fortescue Metals Group Ltd, Australia's third-biggest iron ore producer, said on Wednesday the closure of more Chinese domestic iron ore production is inevitable, helping the market to rebalance.
* China economy grew 7.5 pct in Q2 vs 7.4 pct forecast * China June steel output hit record high 2.31 mln T/day * Rio Tinto Q2 output up, Fortescue sees more China mines closing By Manolo Serapio Jr SINGAPORE, July 16 - Steel and iron ore futures in China steadied near seven-week highs on Wednesday after data showed the Chinese economy grew slightly faster than expected in the second quarter. Both commodities rose to their highest level since late May on Tuesday ah
* Australia's Fortescue misses "stretch" production guidance
* Weak prices credit negative for Fortescue, Atlas - Moody's
SHANGHAI/SINGAPORE - Global miners Rio Tinto and Fortescue Metals Group are making deeper cuts in prices of low-grade iron ore cargoes to China, as competition heats up in the world's top buyer amid rising supply.
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