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Metals and Mining

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  • Nickel prices reached their highest in more than two years on Tuesday with gains of more than 50 percent this year in response to an export ban by top ore supplier Indonesia in January. Nickel is expected to bounce back as long as Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • SYDNEY, May 15- London nickel pared losses on Thursday after plunging nearly 10 percent on a blast of momentum-based sales that gouged into a spectacular rally driven by supply concerns. Nickel prices had surged more than 50 percent this year to reach the highest in two years on Tuesday, after top ore supplier Indonesia banned exports in January.

  • China shares fall on selling of property, mining stocks Thursday, 15 May 2014 | 3:11 AM ET

    HONG KONG, May 15- China shares suffered their biggest loss this month on Thursday as investors sold property and mining shares that recently produced solid gains. Property giants China Vanke Co Ltd shed 0.7 percent, while Poly Real Estate Group Co Ltd was down 2 percent.

  • *Gold steady above $1,300, Chinese buying eases. SINGAPORE, May 15- Palladium and platinum largely held gains from a three-day rally on Thursday as rising labour tensions in major producer South Africa threatened to further impact supply.

  • SYDNEY, May 15- London nickel plunged nearly 10 percent on Thursday as light profit-taking triggered a blast of momentum-based sales after supply concerns fuelled a rally of more than 15 percent in the past week.

  • SINGAPORE, May 15- Palladium and platinum looked likely to extend a three-day rally on Thursday as labour tensions rose in major producer South Africa, threatening to further impact supply from a 16- week strike.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Furious Turks heckled Prime Minister Tayyip Erdogan and jostled his entourage on Wednesday as protests erupted in several cities over a coal mine disaster in which at least 274 people died, making it the worst industrial accident in the nation's history.

  • NEW YORK/ LONDON, May 14- Palladium hit 2-1/ 2 year highs on Wednesday as platinum group metals continued a sensational run higher spurred by continued concerns about supplies from major producer South Africa, while gold rose on expectations of more stimulus measures in Europe.

  • MELBOURNE/ HONG KONG, May 15- The days when Australian mining magnates could dictate terms to Chinese buyers are over. "This may get the wheels turning where other Chinese companies are sitting with big stakes and have an inside track," said Paul Donnelly, executive director at JPMorgan, who works on metals and mining deals.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 245 workers were confirmed killed and around 120 still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • Lonmin: Has breaking point been reached?     Wednesday, 14 May 2014 | 11:35 AM ET

    Tom Wilson, director of intelligence and analysis at Africapractice, discusses the on-going weeks-long strike in Lonmin's South African platinum mines and what it means for the metal.

  • TURKISH MINE OPERATOR SOMA KOMUR SAYS NEARLY 450 OF ITS WORKERS WERE RESCUED AFTER DEADLY FIRE AT COAL MINE.

  • Turkish mine explosion: Death toll rises     Wednesday, 14 May 2014 | 11:16 AM ET

    The death toll following an explosion at a Turkish mine keeps on rising, says Emre Peker, reporter at The Wall Street Journal, adding that demonstrations have started in response to some of the Prime Minister's comments.

  • NEW DELHI/ MUMBAI, May 14- Tata Steel Ltd said a phase of solid economic growth in Europe was supporting a recovery in steel demand in its main market, which also helped the company post results that easily beat analysts' estimates in the March quarter. Tata Steel got a foothold in Europe through its $13 billion acquisition of Britain's Corus in 2007..

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 238 workers were confirmed killed and 120 more still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • FACTBOX-What is the London silver fix? Wednesday, 14 May 2014 | 9:14 AM ET

    May 14- The 117- year-old global benchmark price for spot silver, known as the silver fix, is to be scrapped from August. The fix is set every day at noon by three banks, who get together over the telephone to work out the price at which their customers are willing to buy and sell the metal.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose around one percent on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus measures from the European Central Bank.

  • *Gold reserves fell to unsustainable levels. RABAT, May 13- Morocco's biggest miner Managem has ended gold extraction in the southern Akka gold mines after reserves fell to non-viable levels, leading to the loss of around 300 jobs from its own staff and contractors, it said on Wednesday.