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Materials and Metals

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  • *Silver, platinum, palladium all decline. LONDON, July 6- Gold fell on Monday as a robust dollar outweighed the impact of lower equity markets and some retail demand after a Greek vote rejected the terms of a bailout package that could set Athens on a path out of the euro zone. Spot gold was down 0.3 percent at $1,163.50 an ounce by 0956 GMT, while U.S. gold futures were...

  • SINGAPORE, July 6- Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. "As far as Greece is concerned, if we are going to see a drawn-out period of uncertainty, that may be...

  • German minister backs K+S's Potash bid rejection Saturday, 4 Jul 2015 | 1:38 PM ET

    FRANKFURT, July 4- A German regional minister gave his backing to potash miner K+ S's rejection of an $8.8 billion- euro takeover bid by Canada's Potash Corp of Saskatchewan, saying K+ S should remain a German company. Tarek Al-Wazir, minister of economy in K+ S's home state of Hesse, said on Saturday he would support K+ S's efforts to make sure regional jobs and value...

  • July 3- About 5,000 residents evacuated after the derailment of a freight train carrying flammable and toxic gas in eastern Tennessee were allowed home on Friday as investigators looked into the cause of the fiery accident. Authorities were examining the black box from the CSX Corp train that derailed with one tank car bursting into flames at midnight...

  • July 3- Investigators on Friday were looking into what caused a freight train carrying flammable and toxic gas to derail and catch fire in Tennessee, forcing the day-long evacuation of 5,000 people, officials said. The flames that engulfed a car of the CSX Corp train in Blount County, near Maryville in eastern Tennessee, late Wednesday were extinguished by late...

  • METALS-Copper tracks equity markets lower, for now Friday, 3 Jul 2015 | 10:39 AM ET

    LONDON, July 3- Copper slipped on Friday alongside other markets on worries about the fallout from Greece, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. Greece will vote on Sunday in a bailout referendum that could decide whether the country stays in the euro zone.

  • *Japan Q3 aluminum premiums fall to 6- year low. LONDON, July 3- Copper was slightly lower on Friday as worries about demand from top consumer China resurfaced, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Japan Q3 aluminium premiums fall to 6- year low. LONDON, July 3- Copper held firm on Friday, helped by a lower dollar and expectations that further price falls could cause production cuts, but a seasonal demand lull is likely to check gains. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Flooding stalled mining in Chile. MELBOURNE/ TOKYO, July 3- Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn out clean,...

  • FRANKFURT, July 3- Canada's Potash Corp of Saskatchewan said it was confident of addressing concerns raised by K+ S over its 7.9 billion euro takeover proposal for the German potash miner, giving K+ S's stock a boost. Potash Corp on Friday said its 41 euros- per-share proposal balanced the interests of investors and other stakeholders, including employees.

  • China uses more than a billion tonnes of iron ore a year to make steel- 14 times the consumption of the United States- but Beijing's efforts to shift the economy to consumer-led growth means steel consumption is peaking faster than expected. "It's clear China can no longer consume all the iron ore that's out there, so something's got to give," said James Wilson, a...

  • SEOUL, July 3- South Korea's Hanwha Chemical Corp said there had been an explosion at one of its plastic production plants, leaving five dead and one person missing. The explosion occurred during welding work to expand a waste water disposal facility at its No.2 plant, located in Ulsan, about 300 kilometers southeast of Seoul, the company said in a statement on...

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.

  • FRANKFURT, July 2- German potash miner K+ S rejected Potash Corp of Saskatchewan's 7.9 billion euro takeover bid on Thursday, saying it was too low and that the Canadian suitor could be planning to dismantle the company, putting jobs at risk. K+ S, which is the world's largest salt supplier but derives most of its earnings from potash fertilisers, also said it was not...

  • LONDON, July 2- The head of global mining firm Rio Tinto urged governments not to be tempted by protectionism as they try to preserve revenues at a time of weakening commodity prices. Along with rival BHP Billiton, Rio has come under pressure in Australia, home to most of its large mines, over taxes and for flooding the market with new supplies of iron ore which have...

  • Resolution Copper Mining says the mine will usher in a new era of prosperity for Arizona, bringing in the equivalent of roughly a $1 billion worth of revenue annually for about 60 years in a state still trying to emerge from the housing bust. And it will claim nearly 5- square miles on the edge of nearby Superior to store mining waste that can be toxic.

  • METALS-London copper inches up after strong U.S. data Wednesday, 1 Jul 2015 | 11:13 PM ET

    *Copper premiums depressed worldwide on oversupply- Triland. MELBOURNE, July 2- London copper rose on Thursday as strong U.S. data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam. Expansion at U.S. factories was set to buttress copper demand while...

  • MELBOURNE, July 2- London copper held its ground on Thursday after strong U.S. data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam. *A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal,...

  • LONDON, July 1- Global mining firm Glencore said on Wednesday it would go ahead with a plan to close some operations at its Optimum Coal subsidiary in South Africa due to weak coal prices, a move which will result in the loss of 600 to 700 jobs. South Africa's National Union of Mineworkers had bitterly criticized the company's plan to shut down these assets, accusing...

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