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Metals and Mining

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  • 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...

  • WILLISTON, N.D./ HOUSTON, Dec 5- U.S. energy firms are swiftly shifting drilling rigs away from less productive areas and hunkering down in sweet spots of North Dakota and Texas shale oil fields as they try to lift output and cut costs in response to the toughest crude market in years. Rig deployments or applications for new well permits fell by half in recent months...

  • Bearish Chinese bets fuel iron ore rout Tuesday, 2 Dec 2014 | 6:37 PM ET
    Trucks at an iron ore mine

    A halving in the price of iron ore this year has been fueled in part by Chinese speculators who built up huge short positions on the one-year-old futures contract.

  • RBA to stay on hold well into next year: AMP   Monday, 1 Dec 2014 | 10:31 PM ET
    RBA to stay on hold well into next year: AMP

    Shane Oliver, Head of Investment Strategy & Chief Economist at AMP Capital Investors, outlines his expectations for the central bank after it left rates on hold at 2.5 percent on Tuesday.

  • Reading BHP's plan for deeper cost cuts   Sunday, 23 Nov 2014 | 9:53 PM ET
    Reading BHP's plan for deeper cost cuts

    Gavin Wendt, Founding Director & Senior Resource Analyst at Mine Life, says the miner's announcement on Monday is a move to reassure markets that it can handle the fall in commodity prices.

  • Why are miners ramping up iron ore output?   Wednesday, 19 Nov 2014 | 10:38 PM ET
    Why are miners ramping up iron ore output?

    John Wilson, Stock Broker at Morgans Financial, says persisting demand and false expectations for prices to remain stable are leading big miners to ramp up production.

  • Australian exports to China still face hurdles Tuesday, 18 Nov 2014 | 6:14 PM ET

    A trade deal signed with great fanfare between China and Australia may not provide Australia with the economic boost that many anticipate.

  • China protectionism threatens commodity imports Thursday, 13 Nov 2014 | 6:20 PM ET

    Businesses are complaining about Beijing's use of non-tariff barriers from customs clearance to quality restrictions to curb raw material imports.

  • Here's why iron ore will stay below $100 a tonne   Wednesday, 12 Nov 2014 | 5:35 PM ET
    Here's why iron ore will stay below $100 a tonne

    Due to ongoing structural shifts in the sector, iron ore prices are unlikely to recover beyond $100 a tonne, says Daniel Hynes, Senior Commodity Strategist at ANZ.