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Metals and Mining

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  • DALIAN, China Sept 25- China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

  • SYDNEY, Sept 25- Adani Mining on Thursday took a step closer to the development of a A $2.2 billion coal mining project in Australia after the federal government approved construction of a rail haulage line.

  • BHP plays down chance of recovery in iron ore prices Thursday, 25 Sep 2014 | 2:30 AM ET

    SYDNEY, Sept 25- Global miner BHP Billiton on Thursday played down the chance of a recovery in iron ore prices, saying that recent declines reflected the reality of demand and supply in the market for the steel-making ingredient.

  • VANCOUVER, Sept 25- The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations. The industry has geared itself around $1,200, "said Joseph Foster, portfolio manager at institutional investor Van Eck Global.

  • BHP freezes pay for chief and top executives Thursday, 25 Sep 2014 | 12:16 AM ET

    BHP Billiton freezes pay for its executives and management team, as the downturn across the mining sector continues. The Financial Times reports.

  • Can Australia survive the iron ore slump?  Wednesday, 24 Sep 2014 | 9:34 PM ET

    Mike Harrowell, Director, Resources Research at BBY, discusses the impact of falling iron ore prices on major miners like BHP Billiton.

  • *Norilsk in talks to buy palladium from Russia's cenbank. NEW YORK/ LONDON, Sept 24- Gold fell on Wednesday as the dollar climbed to levels not seen in four years and global shares rebounded, while investors remained cautious ahead of U.S. economic data due later in the week.

  • DICKINSON, N.D., Sept 24- Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, U.S. Energy Information Administration chief Adam Sieminski said in an interview on Wednesday.

  • METALS-Nickel gains as buyers come back after slide Wednesday, 24 Sep 2014 | 12:40 PM ET

    LONDON, Sept 24- Nickel rose on Wednesday as investors saw a recent slide in prices as a buying opportunity ahead of expected shortages, while copper recovered after hitting a fresh three-month low as uncertainly about global growth weighed on markets.

  • Three month nickel on the London Metal Exchange was up 0.6 percent at $17,225 a tonne by 1051 GMT, after touching $16,483 on Tuesday, the lowest in over five months. Investors piled into the market earlier in the year, sending prices to a peak of $21,625 in May, the highest in over two years, after top exporter Indonesia imposed a ban on shipments of unprocessed ore.

  • Axiom wins long battle to develop Solomons nickel Wednesday, 24 Sep 2014 | 4:50 AM ET

    *Axiom says wins Solomon Islands nickel mine court battle. SYDNEY, Sept 24- Tiny Australian prospector Axiom Mining has won a three-year court battle against Japanese giant Sumitomo Metal Mining to exploit a giant nickel discovery in the South Pacific' s Solomon Islands left idle for more than half a century.

  • MELBOURNE, Sept 24- London copper climbed away from three-month lows on Wednesday as markets grew more confident over global growth signals, although a looming oversupply of the metal kept its advance in check.

  • -Clyde Russell is a Reuters columnist. Again, that price level hasn't been clearly spelt out, but I would imagine the big three have a number in mind somewhere above $90 a tonne, with $110 likely viewed as a ceiling.

  • MELBOURNE, Sept 24- London copper was stuck near three-month lows on Wednesday as more evidence of brighter economic prospects in the United States failed to overcome jitters over Chinese growth and swelling supply of the metal.

  • MELBOURNE, Sept 24- London copper was stuck near three year lows on Wednesday as more evidence of brighter economic prospects in the United States failed to overcome jitters over global growth and swelling supply.

  • A toxic combination of bountiful supply and slower demand growth in top importer China have hammered iron ore prices to five-year lows, the hardest hit among industrial commodities this year.

  • Gaurav Sodhi, Resources Analyst at Intelligent Investor, discusses why major producers like Vale are cranking up iron ore output despite the recent slump in prices.

  • LONDON, Sept 23- West African nations hit by the Ebola virus epidemic will need international help to rebuild for years to come and it is time for mining companies and business to get involved, the head of the African Development Bank said on Tuesday.

  • METALS-Copper steadies after China factory data Tuesday, 23 Sep 2014 | 12:33 PM ET

    *China manufacturing unexpectedly picks up in Sept. LONDON, Sept 23- Copper prices steadied on Tuesday, after touching three-month lows in the previous session, as manufacturing data from top consumer China helped allay some fears about the outlook for demand.

  • New dawn for Mexican steel puts Brazil in the shade Tuesday, 23 Sep 2014 | 11:23 AM ET

    MEXICO CITY/ RIO DE JANEIRO, Sept 23- Mexico is emerging as the preferred choice for investors in Latin American steel making as a landmark energy reform and exposure to a U.S. recovery help outshine regional rival Brazil, where the gloom of recession has taken hold.