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Metals and Mining

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  • SYDNEY, March 25- London copper edged up to its highest in nearly a week on Tuesday, with the market supported by hopes China will act to support its economy after a survey showed manufacturing contracted in the first quarter.

  • *China focus shifts to market forces from direct govt interference. BEIJING, March 25- China has dropped a long-standing target to bring 60 percent of its steel sector under the control of its 10 biggest enterprises by 2015, a goal that has been criticised by companies such as Baosteel for causing a build-up of unprofitable capacity.

  • BEIJING, March 25- China's policymakers have again promised to make it easier for steel mills to merge and consolidate, but they appear to have ditched a long-standing target to bring 60 percent of the sector under the control of its 10 biggest enterprises by 2015..

  • SYDNEY, March 25- London copper was treading water on Tuesday, with hopes of economic stimulus by Beijing providing a floor for prices after a survey showed that growth in the country's factories slowed for a fifth month in March. *The most-traded June copper contract on the Shanghai Futures Exchange edged up by 0.1 percent to 45,300 yuan a tonne.

  • NEW YORK/ LONDON, March 24- Gold prices tumbled about 2 percent on Monday, the biggest one-day drop in nearly two months, as hedge funds dumped the precious metal on fears that rising U.S. interest rates could spark a further retreat from last week's six-month high.

  • LONDON, March 24- The palladium-backed exchange-traded fund due to be launched in Johannesburg by Absa Capital on Thursday has already amassed 8,600 ounces of metal to back its shares, Absa's head of exchange-traded products said on Monday.

  • *Palladium hits 2-1/ 2 year high on supply worries, new ETFs. LONDON, March 24- Gold prices tumbled to a one-month low on Monday as expectations that U.S. interest rates could rise in early 2015 supported the dollar and prompted investors to cash in gains made during the metal's recent rally to six-month highs.

  • The EPA veto was issued after President Barack Obama, a Democrat, became president in 2009. Conservatives have accused Obama of waging a "war on coal," a reference to the administration's efforts to reduce greenhouse gas emissions, including those from coal-burning power plants.

  • U.S. top court declines to hear mining permit case Monday, 24 Mar 2014 | 9:41 AM ET

    WASHINGTON, March 24- The U.S. Supreme Court on Monday delivered a blow to Arch Coal Inc by declining to hear its challenge to an Obama administration decision to block an environmental permit for a coal mining project in West Virginia.

  • *Factory output in China fells to eight month low in March. *Premiums for China bonded copper stocks drop $5 to $95/ 115- Shmet. LONDON, March 24- Copper steadied on Monday as investors saw last week's fall to 3-1/ 2 year lows as overdone, and as the latest batch of weak data from China spurred hopes that authorities would introduce measures to support the economy.

  • *Factory output in China fells to eight month low in March. *Premiums for China bonded copper stocks drop $5 to $95/ 115- Shmet.

  • MANILA, March 24- The Philippine finance minister said he will push mining companies to pay bigger shares of their revenue to the government even though the industry maintains that taxes are already too high and higher ones could kill the business. President Benigno Aquino, seeking to raise revenue from mining, has met stiff resistance.

  • *Premiums for China bonded copper stocks drop $5 to $95/ 115- Shmet. SYDNEY, March 24- London copper recouped early losses on Monday as hopes grew that China would step in to support its economy after a private survey showed expansion in factories slowed for a fifth month in March.

  • SYDNEY, March 24- London copper slipped on Monday after growth in China's factories slowed for a fifth month, while worries about the health of its credit markets also clouded the demand outlook. *The most-traded June copper contract on the Shanghai Futures Exchange slipped by 0.4 percent at 44,960 yuan a tonne.

  • March 21- AK Steel Holding Corp forecast a bigger loss for the first quarter as an unplanned blast furnace outage in its Kentucky plant hurt shipments and drove up costs. AK Steel estimated a net loss of 44 cents to 49 cents per share for the first quarter. AKS shares were up about 3 percent at $6.89 on the New York Stock Exchange.

  • *Palladium hits highest since Aug. 2011. LONDON, March 21- Gold rose on Friday ahead of a series of speeches by U.S. Fed officials including Richard Fisher, James Bullard and Narayana Kocherlakota are due to speak later on Friday after Fed Chair Janet Yellen surprised markets mid-week by suggesting the possibility of raising interest rates early next year.

  • AK Steel forecasts first-quarter loss as costs go up Friday, 21 Mar 2014 | 8:51 AM ET

    March 21- U.S. steelmaker AK Steel Holding Corp forecast a loss in the first quarter, blaming higher costs related to the cold weather and blast furnace outages. The company forecast a loss of 44 cents to 49 cents per share for the first quarter. Analysts on average were expecting a profit of 5 cents, according to Thomson Reuters I/B/E/S.

  • *Premier Li Keqiang says China to speed up investment, construction plans. LONDON, March 21- Copper rose on Friday and was set to close the week flat after falling more than 4 percent last week, steadying as worries abated about credit conditions and the economy in China.

  • *Launch of two palladium ETFs in South Africa lifts metal. LONDON, March 21- The price of autocatalyst metal palladium hit its highest since August 2011 on Friday as a miners' strike in South Africa ground on and concerns grew that the standoff between major producer Russia and the West over Ukraine could escalate.

  • *Bonded copper premiums in China fall by $10 to $105- $125- Shmet. SYDNEY, March 21- London copper climbed on Friday but was set to close the week flat, not far above 3-1/ 2- year lows, as worries about China's economy clouded the outlook for demand.