Materials and Metals


  • *China nickel pig iron producers have run down their ore stocks. SYDNEY, May 7- London nickel hovered close to 15- month highs on Wednesday, supported by rising prices for nickel ore as Chinese nickel pig iron producers run down their stockpiles after Indonesia banned exports in January.

  • SYDNEY, May 6- London copper edged lower on Tuesday in thin trading as markets reopened after a long holiday weekend, while dwindling nickel supplies after Indonesia's ban of ore exports pushed that metal back towards 15- month highs.

  • SAN FRANCISCO, May 6- Stanford University on Tuesday said it will no longer use any of its $18.7 billion endowment to invest in coal mining companies, a move aimed at combating climate change that could influence college administrations elsewhere.

  • *Gold surrenders gains on dollar drop, strong euro data. NEW YORK/ LONDON, May 6- Gold prices eased on Tuesday, surrendering early gains as weak physical demand made investors wary about the outlook, though tensions in Ukraine and weakness in the U.S. dollar and Wall Street stocks lent support.

  • TORONTO, May 6- Two workers at First Nickel Inc's Lockerby Mine have died in an accident underground at the Sudbury, Ontario operation, the company said on Tuesday. First Nickel said both workers were drillers, employed by Taurus Drilling Services.

  • May 6- U.S. fertilizer company Mosaic Co said on Tuesday it will eliminate more than 500 jobs in the next year as it reported a larger-than-expected 43 percent drop in quarterly profit.

  • PRECIOUS-Gold prices fall as investor confidence wanes Tuesday, 6 May 2014 | 10:41 AM ET

    *Gold surrenders early gains to turn lower. LONDON, May 6- Gold prices fell on Tuesday, surrendering early gains as weak physical demand made investors wary about the outlook, though tensions in Ukraine and a slide in the dollar index to 6-1/ 2 month lows lent some support.

  • May 6- U.S. fertilizer company Mosaic Co reported a larger-than-expected 43 percent drop in quarterly profit on Tuesday as prices of phosphate and potash dropped. Transportation problems in North America also dogged the industry during the winter, as frigid conditions froze rivers in the United States and backed up railways in western Canada.

  • *Tensions in Ukraine fuel buying of bullion. LONDON, May 6- Gold prices firmed for a third session on Tuesday as tensions flared between government forces and pro-Russian separatists in Ukraine, and the dollar slid to a 6-1/ 2 month low against a currency basket.

  • LAUNCESTON, Australia, May 6- Baosteel Resources' motivation for a hostile $1 billion takeover of Australia's Aquila Resources is to jumpstart a stalled iron ore project. Baosteel is seeking to gain control of Aquila in order to get the junior company's half-share of the $7 billion West Pilbara Iron Ore Project, located in the north of Western Australia state.

  • SINGAPORE, May 6- Gold was trading near its highest in three weeks on Tuesday, holding gains from the last two sessions as more intense fighting in Ukraine lifted the metal's safe-haven appeal. *Goldcorp Inc has resumed operations at its Los Filos mine in Mexico after reaching a new five-year occupancy agreement with local landowners.

  • Cheboygan, Michigan, May 5- Lawyers for Encana Corp pleaded no contest on Monday to charges the company attempted to commit antitrust violations in Michigan during 2010 and agreed to pay a $5 million civil fine at a court hearing.

  • *Aurizon sees West Pilbara Iron Ore producing from 2017-18. Monday's unsolicited A $1.14 billion offer to take over Aquila Resources Ltd could open up a new Australian iron ore export region to supply Asian steelmakers, by jumpstarting the $7 billion West Pilbara Iron Ore project, half-owned by Aquila.

  • May 2- Private equity firm Arsenal Capital Partners is considering a sale of its business that helps U.S. oil and chemical companies reclaim import taxes, a partner at the firm said. Charter, which has annual net revenue of about $65 million to $70 million, is the largest U.S. petroleum and chemical drawback services provider.

  • May 2- Auto parts maker Visteon Corp said it would sell most of its automotive interiors business to private equity firm Cerberus Capital Management LP as it focuses on its fast-growing climate control and electronics operations.

  • *Considers spending more than 1 bln eur on U.S. plant. FRANKFURT, May 2- BASF, the world's No.1 chemicals company by sales, said it could spend more than 1 billion euros to build a petrochemical plant in the United States, joining global peers attracted by cheap shale gas there.

  • MELBOURNE/ SYDNEY, May 2- Shares in Australia's Padbury Mining Ltd plunged as trading in the stock resumed after its plans for a deal to build a $6.5 billion iron ore port and rail network collapsed within a month of being announced.

  • SYDNEY, May 2- London copper was little changed on Friday but was set to log its biggest weekly loss in seven weeks after the United States withdrew liquidity, with markets expected to remain quiet due to a holiday in China and ahead of a U.S. jobs report. Copper prices have dropped 1.9 percent this week.

  • NEW YORK/ LONDON, May 1- Gold fell on Thursday on fresh outflows from gold exchange-traded funds, extending losses from the previous day when the Federal Reserve reinforced its view in the U.S. economy's prospects and reduced its monthly bond purchases, as expected.

  • May 1- Alpha Natural Resources Inc and Walter Energy Inc cut their production forecast for metallurgical coal, joining rival U.S. coal miners in tightening supply in a bid to drive up prices.

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