Metals and Mining


  • LONDON, Sept 19- The zinc rally has run out of steam. But the benchmark LME three-month price has over the last couple of weeks retreated from above $2,400 per tonne to a current $2,260. The LME's Commitments of Traders Report showed money managers trimming their net long position by 12,271 lots, or 306,775 tonnes, in the week to Sept. 12.

  • SYDNEY, Sept 19- Australia's miners face tough times amid a meteoric fall in the price of their cash cow, iron ore, but there are plenty of reasons to believe the rest of the economy can weather the storm and perhaps even profit from it.

  • The headwinds faced by China's massive steel sector- falling profit margins and growing dependence on handouts- are shared by other key industrial and infrastructure-related sectors, including aluminium, cement and coal.

  • TORONTO, Sept 18- United States Steel Corp's Canadian unit had sought a wide ranging set of relief measures from the Ontario government before it filed for creditor protection in Canada earlier this week, according to a source familiar with the matter.

  • LONDON, Sept 18- Copper and other base metals slipped on Thursday, pressured by a sharp rise in the dollar after the U.S. Three-month copper on the London Metal Exchange slid 1.1 percent to $6,851.25 a tonne by 1437 GMT, reversing small gains in the previous session.

  • METALS-Copper falls as Fed rates outlook lifts dollar Thursday, 18 Sep 2014 | 6:09 AM ET

    *Copper to fall to $6,200 in 12- mth horizon- Goldman Sachs. LONDON, Sept 18- Copper slipped on Thursday, pressured by a sharp rise in the dollar after the U.S. Prices have lost momentum since hitting a one-week high at $6,992 a tonne earlier this week, but are still well above a 12- week low of $6,734 hit on Sept. 11.

  • Vale CEO: Iron ore prices will rise by year-end  Thursday, 18 Sep 2014 | 12:44 AM ET

    Murilo Ferreira, CEO of Vale, tells CNBC's Sri Jegarajah why he isn't worried about the recent slump in iron ore prices. He also explains why he remains upbeat on China.

  • Sept 17- Nucor Corp shares rose to a six-year high on Wednesday after the steelmaker said it would report higher-than-expected third-quarter earnings. Nucor said it expected to post a third-quarter profit of 70 cents to 75 cents per share.

  • Nucor said on Monday it would buy Gallatin Steel, the U.S. joint venture between ArcelorMittal and Gerdau, for $770 million to expand into flat-rolled steel market in the growing pipe and tube business. In the current quarter ending Sept. 30, Nucor also expects to gain from write down of assets and high levels of imports due to downward pressure on pricing.

  • Steelmaker Nucor forecasts higher third-quarter profit Wednesday, 17 Sep 2014 | 9:14 AM ET

    Sept 17- Steelmaker Nucor Corp said it expects higher third-quarter profit, citing a rise in profitability from some steel products. The company forecast third-quarter profit of 70- 75 cents per share. It posted a profit of 46 cents per share for the third quarter last year.

  • NEW YORK, Sept 17- Auxilium Pharmaceuticals shares surged in brisk premarket trading Wednesday, a day after receiving an unsolicited offer from Endo International. Analysts said the offer could complicate Auxilium's buyout of Canadian eye drug maker QLT Inc, whose U.S. shares were down 11.3 percent in light trading.

  • LONDON, Sept 17- Indonesia's tin exports slumped to a one-year low of 3,595 tonnes in August. And they are set to fall further in September. This sort of price support action from Indonesia is becoming part and parcel of the global tin market.

  • *Report of targeted stimulus to big China banks. LONDON, Sept 17- Copper edged up on Wednesday on a report that China's central bank will provide the country's biggest banks with fresh loans to bolster the economy of the world's largest metals consumer.

  • LAUNCESTON, Australia, Sept 17- Who to believe? In theory, the Chinese ban from the start of 2015 on coal imports above certain ash and sulphur contents appears to favour Indonesia, the world's biggest shipper of thermal coal, over Australia, the world's top exporter of metallurgical coal and number two for thermal coal.

  • MELBOURNE, Sept 17- London copper climbed on Wednesday to near its highest in a week as the market edged away from expectations that the Federal Reserve would bring forward its timeline to raise interest rates at its meeting this week. *The most-traded November copper contract on the Shanghai Futures Exchange rallied 2.1 percent to 49,590 yuan a tonne.

  • BEIJING, Sept 17- Nearly four years after a massive state-run steel mill on the outskirts of Beijing was closed to help cut smog in the Chinese capital, little has been done to clean up the contaminated site.

  • Mining giants may hoard cash as iron ore prices sag Tuesday, 16 Sep 2014 | 5:00 PM ET

    Stung by slower growth in China, global miners have reined in expansion plans and brought in new management to sell assets and drive their mines harder, raising hopes that BHP Billiton alone could hand back up to $8 billion to investors.

  • RUSTENBURG, South Africa, Sept 16- South African platinum miner Vincent Nyeleka has just moved up in the world, leaving behind a cramped hovel that he rented for a new, three-bedroom house he can call his own.

  • Petra says rare blue diamond sold for $27.6 mln Tuesday, 16 Sep 2014 | 2:51 AM ET

    Sept 16- London- listed Petra Diamonds Ltd said it sold a rare blue diamond found at its mine in South Africa for $27.6 million. The company recovered the 122.52- carat diamond in June from its Cullinan mine, a site with a long and illustrious history of producing high-value stones.

  • SINGAPORE, Sept 16- Gold clung to small overnight gains on Tuesday but investors refrained from taking big positions in the metal as they waited for the start of a Federal Reserve policy meeting for clues on when the U.S. central bank could raise interest rates. *Spot gold was little changed at $1,233.20 an ounce by 0025 GMT.