The European Union should consider granting more free carbon allowances to most efficient energy- intensive companies and exclude such permits from trading, according to the EU steel industry lobby Eurofer.
BHP Billiton Ltd. , Vale SA and Rio Tinto Group , the world’s three largest mining companies, are set for record profit totaling $52 billion as they accelerate earnings growth at the expense of their biggest customers.
ThyssenKrupp AG, Germany’s largest steelmaker, is among producers considering whether to use derivatives to fix future iron-ore costs after the collapse of a four-decade-old system that set prices annually.
ArcelorMittal and competitors in Europe will probably curb steel production to support prices as they struggle to pass on higher raw-material costs, just as a regional debt crisis and rollbacks in state spending cut demand.
Glencore International Plc won European Union approval for its $33 billion takeover of Xstrata Plc after offering to end a zinc-purchase agreement with Nyrstar NV and to sell its stake in the largest producer of the metal.