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Materials and Metals

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  • By Silvia Antonioli and Morag MacKinnon. LONDON/ PERTH, May 6- BHP shareholders overwhelmingly approved the spin-off of new mining and metals group South32, clearing the way for a listing this month that will test investor sentiment towards the battered mining sector. More than 98 percent of votes cast at meetings in Perth and London on Wednesday were in favour...

  • LONDON, May 6- Gold edged down on Wednesday, as the impact of stronger European shares and higher U.S. real yields counteracted the effects of a weaker dollar and prospects that the Federal Reserve will not raise interest rates at its meeting in June. Spot gold was down 0.2 percent at $1,190.53 an ounce by 1011 GMT, while U.S. gold futures for June delivery lost $3.20...

  • *China buyers cut copper purchases on price rise- trade. *China aluminium semis exports up 5-7 pct- JPMorgan. LONDON, May 6- Copper and most other industrial metals retreated on Wednesday from recent peaks as copper demand in China faltered and as some investors regarded the sector's strong gains as outpacing supply and demand fundamentals.

  • SINGAPORE/ MELBOURNE, May 6- Rio Tinto, the most profitable iron ore producer, is in a strong position to keep its mines running at full tilt, even as rivals BHP Billiton and Brazil's Vale apply the brakes in a market suffering a supply glut. Despite a plunge in ore prices, Rio Tinto is not expected to face pressure from shareholders at its annual general meeting in...

  • MONACA, Pa.— A proposal by Shell Chemical to build a petrochemical plant in western Pennsylvania drew praise from those who say it will boost the region's economy, and criticism from those who fear it will harm the environment, despite assurances from the state Department of Environmental Protection. James Hamilton of Ambridge said about plans for the...

  • U.S. steel companies want Russian trade deal axed Tuesday, 5 May 2015 | 10:42 PM ET

    WASHINGTON, May 5- U.S. steel producers on Tuesday demanded the Department of Commerce scrap a trade deal sparing Russian producers of carbon steel plate from import duties. Nucor Corp, SSAB Enterprises LLC and Arcelor Mittal USA said a flood of cheap cut-to-length carbon steel plate was hurting the local industry. Last week, Nucor and SSAB Enterprises launched...

  • Sandstorm Gold posts 1Q profit Tuesday, 5 May 2015 | 7:45 PM ET

    VANCOUVER, British Columbia _ Sandstorm Gold Ltd. on Tuesday reported first-quarter profit of $825,000. On a per-share basis, the Vancouver, British Columbia- based company said it had profit of 1 cent. Keywords: Sandstorm Gold, Earnings Report.

  • Axiall reports 1Q loss Tuesday, 5 May 2015 | 7:33 PM ET

    ATLANTA _ Axiall Corp. on Tuesday reported a loss of $10.6 million in its first quarter. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share. Axiall shares have dropped nearly 7 percent since the beginning of the year.

  • Innospec posts 1Q profit Tuesday, 5 May 2015 | 7:24 PM ET

    ENGLEWOOD, Colo. _ Innospec Inc. on Tuesday reported first-quarter profit of $17.9 million. The Englewood, Colorado- based company said it had profit of 72 cents per share. Innospec shares have increased almost 4 percent since the beginning of the year.

  • Trinseo tops 1Q profit forecasts Tuesday, 5 May 2015 | 5:21 PM ET

    BERWYN, Pa. _ Trinseo SA on Tuesday reported first-quarter profit of $37.7 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share. Trinseo shares have climbed 25 percent since the beginning of the year.

  • 2nd death in Peru anti-mining protests Tuesday, 5 May 2015 | 2:53 PM ET

    LIMA, Peru— A more than month-long protest against a copper mining project in southern Peru has claimed a second life, a 35- year-old protester who a local mayor says was killed by a police bullet. Mayor Richard Ale of Islay province says Henry Checcla died early Tuesday in a clash that began Monday night when about 500 protesters tried to block a highway and were...

  • *Euro zone economy stronger than expected- EU Commission. LONDON, May 5- Zinc hit its highest price in eight months on Tuesday and copper its loftiest since mid-December thanks to a combination of concern about supply shortfalls and optimism over the global economy. Base metals seem to be following the herd, "said Richard Fu, director of Asian commodities trading...

  • NEWCASTLE, South Africa, May 5- ArcelorMittal's South African unit will cut second-quarter production by 6 percent at its Newcastle plant due to slack demand from its domestic market, it said on Tuesday. The plant is ArcelorMittal's third-largest in South Africa by output. President Jacob Zuma's government announced plans three years ago to invest $95...

  • SANTIAGO, May 5- Chile's economy grew at a modest pace in March, as a gradual rebound in the top copper producer was weighed down by devastating floods and mudslides in its northern region, central bank data showed on Tuesday. "Without this catastrophe, growth in March would have been above 2 percent, that is, above growth in February," Finance Minister Alberto Arenas...

  • Argonaut Gold misses 1Q profit forecasts Tuesday, 5 May 2015 | 9:33 AM ET

    Toronto _ Argonaut Gold Inc. on Tuesday reported first-quarter net income of $1.4 million. The Toronto- based company said it had profit of 1 cent per share. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

  • UFP posts 1Q profit Tuesday, 5 May 2015 | 9:21 AM ET

    GEORGETOWN, Mass. _ UFP Technologies Inc. on Tuesday reported first-quarter net income of $1.7 million. The Georgetown, Massachusetts- based company said it had net income of 23 cents per share. Keywords: UFP Technologies, Earnings Report.

  • All the metals on the London Metal Exchange saw a wave of buying, which pushed nickel to a six-week high, as the London market reopened after a UK public holiday on Monday. Base metals seem to be following the herd, "said Richard Fu, director of Asian Commodities Trading for Societe Generale Newedge in London. "The fundamentals in zinc are good," said Nic Brown, head of...

  • Headwaters reports 2Q loss Tuesday, 5 May 2015 | 6:18 AM ET

    SOUTH JORDAN, Utah _ Headwaters Inc. on Tuesday reported a loss of $25.5 million in its fiscal second quarter. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share. Four analysts surveyed by Zacks expected $175.7 million.

  • SYDNEY, May 5- Australia's central bank cut interest rates for the second time this year on Tuesday, seeking to buttress the economy against sliding mining investment while heading off a harmful increase in the local dollar. The currency did initially drop after the Reserve Bank of Australia trimmed its cash rate a quarter point to a fresh all time trough of 2.0...

  • SYDNEY, May 5- Australia's central bank cut interest rates for the second time this year on Tuesday, seeking to buttress the economy against sliding mining investment while heading off a harmful increase in the local dollar. The currency did initially drop after the Reserve Bank of Australia trimmed its cash rate a quarter point to a fresh all time trough of 2.0...

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