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Metals and Mining

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  • Dec 10- Glencore promised on Wednesday to focus on returning cash to shareholders rather than spending it on a disruptive expansion of output that could weigh on prices of the commodities it mines and trades. Some of Glencore's senior executives are among the largest shareholders in the company. Glencore shares are roughly flat on the year but have performed...

  • LONDON, Dec 10- Global demand for OPEC crude in 2015 will be less than expected and far below its current output, the group said on Wednesday, pointing to a hefty supply surplus without OPEC output cuts or a slowdown in the U.S. shale boom. The report follows OPEC's decision last month not to prop up prices by cutting output. Top exporter Saudi Arabia urged fellow...

  • Dec 10- Glencore promised on Wednesday to focus on returning cash to shareholders rather than spending it on a disruptive expansion of output that could weigh on prices of the commodities it mines and trades. Excess capital will be returned to shareholders via dividends, share buybacks and/or other special distributions, Glencore's chief financial officer...

  • LONDON, Dec 10 (Reuters)- Copper slipped on Wednesday from two-week highs hit in the previous session, with hopes for more monetary policy easing in China overshadowed by worries over swelling supplies and weak global growth. Data out earlier showed China's consumer inflation hit a five-year low of 1.4 percent in November, stoking expectations that Beijing...

  • *Freeport, Jiangxi agree 16.3- pct hike in 2015 TC/RCS- sources. *TC/RC benchmark seen at $107 a tonne/ 10.7 cents a pound. SYDNEY, Dec 10- London copper prices slipped on Wednesday from two-week highs hit the session before, after a short-covering rally lost momentum and as focus shifted to looming oversupply next year.

  • LONDON, Dec 9- Rising demand led by the United States and tighter supplies will boost the diamond market in coming years, but challenges to growth will include access to financing and the need for increased marketing, consultancy Bain said on Tuesday. Rising demand in the United States, the top retail market for diamond jewelry, followed by China and India, will...

  • Asian spot iron ore is down 48 percent from the start of the year to Monday's close of $69.70 a tonne, while spot thermal coal at Australia's Newcastle Port, an Asian benchmark, has slumped 28 percent to $62.25 a tonne in the week ending Dec. 5. The case for a stabilisation in prices followed by a modest rally next year is largely built on the view of more high-cost...

  • BEIJING, Dec 9- Northern China's Hebei province, the country's dominant steel producing region, is set to move 16 million tonnes of output capacity to the coast in a step aimed at "upgrading" the sector. The Shougang Group- China's biggest steel mill formerly based in Beijing- has already shifted all its production facilities to Hebei's Caofeidian port.

  • SINGAPORE, Dec 9- Gold gave up some of its overnight gains on Tuesday as the dollar recovered from losses and oil prices weakened, dulling the metal's appeal as a hedge. *Spot gold had slipped 0.2 percent to $1,200.26 an ounce by 0036 GMT. *Gold jumped more than 1 percent on Monday on a brief surge of late-day technical buying as it breached the $1,200- per-ounce level...

  • NEW YORK, Dec 8- Oil production from the United States' biggest shale plays is poised to keep expanding at the same breakneck pace into early next year, according to new U.S. projections released on Monday that highlighted a slow response to tumbling prices. Oil production from the three main plays- the Bakken, Eagle Ford and Permian Basin- is set to rise by some...

  • GENEVA, Dec 8- An appeals board of the World Trade Organization reversed much of an earlier ruling against the United States on Monday, but it said U.S. duties on Indian steel broke WTO rules and asked the United States to bring them into line with its regulation. An unnamed Indian official told Reuters when the case was launched in 2012 that the United States argued...

  • *Steep year-on-year drop in China's coal, iron ore imports. SHANGHAI, Dec 8- China's monthly imports of most major commodities rose in November on favourable prices and stockpiling, although a gloomy outlook for steel dragged iron ore arrivals down to their second lowest this year. "New environmental rules that will come into force on Jan. 1, 2015 could slow steel...

  • KIEV, Dec 8- Ukraine's government has allowed state energy company Ukrinterenergo to import electricity from Russia to cover current power shortages caused by a lack of coal, the Ukrainian energy ministry said. Ukraine and Russia have joint electricity systems and there are no technical obstacles to such imports, but analysts say importing electricity is...

  • BHP Billiton names spin-off company South32 Monday, 8 Dec 2014 | 2:30 AM ET

    MELBOURNE, Dec 8- A planned spin-off of businesses by global miner BHP Billiton will be called South32 when it seeks multiple stock listings next year, BHP said on Monday. The new name recognizes that most of South32's operations are in the southern hemisphere, with its two regional centers- Australia and South Africa- linked by the thirty-second parallel south...

  • *Energy squeeze since June after Russia gas cut off. Without Russian natural gas imports since June and hit by separatist violence that has disrupted its own coal mining, Ukraine has been forced to introduce mass electricity cuts. To help keep coal-fired power plants operating it turned to South Africa for one million tonnes of coal and received three...

  • *Energy squeeze since June after Russia gas cut off. Without Russian natural gas imports since June and hit by separatist violence that has disrupted its own coal mining, Ukraine has been forced to introduce mass electricity cuts. To help keep coal-fired power plants operating it turned to South Africa for one million tonnes of coal and received three...

  • *Gold falls as much as 1.6 pct before paring losses. LONDON, Dec 5- Gold fell more than 1 percent on Friday after U.S. Spot gold was down 0.7 percent at $1,196.86 an ounce at 1426 GMT, while U.S. gold futures for December delivery were down $9.90 an ounce at $1,197.80.

  • *U.S. Esmark Inc says interested in plant. BELGRADE, Dec 5- Serbia is inviting bids for an 80- percent stake in a loss-making steel mill, aiming to ease pressure on the country's finances. But in a loan deal with the International Monetary Fund agreed last month, the government committed to cut subsidies in order to curb the deficit and cap debt seen at 70 percent of...

  • *Copper eyes biggest weekly rise since late Aug. KUALA LUMPUR/ SYDNEY, Dec 5- London nickel prices rose to their highest in more than two months due to tight supplies of ore, while copper was on track to post its biggest weekly rise since August as prices rebounded from falls earlier in the week. "High-grade nickel ore prices in China have been moving up slowly over the...

  • SINGAPORE, Dec 5- India's iron ore imports rose to a record 6.76 million tonnes in the first seven months of its fiscal year as sliding global prices and limited supply at home pushed steel producers to buy the raw material overseas, industry data showed on Friday. Formerly the world's No. 3 supplier of iron ore, India has been importing over the last two years due to...