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Materials and Metals

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  • European shares edge lower ahead of Fed minutes Wednesday, 19 Nov 2014 | 11:24 AM ET

    LONDON, Nov 19- European shares edged lower from a seven-week high late on Wednesday, tracking a fall in U.S. equities, with investors trading cautiously ahead of minutes from the most recent Federal Reserve policy meeting. The market also came under pressure from a sharp decline in mining shares after China's iron ore futures dropped nearly 5 percent to a record...

  • UPDATE 2-Cliffs may close Bloom Lake iron ore mine Wednesday, 19 Nov 2014 | 8:37 AM ET

    *May close Bloom Lake mine in Quebec. Nov 19- Cliffs Natural Resources Inc said it may have to close its Bloom Lake iron ore mine in Quebec, weeks after it revealed that three "big steelmakers" were in talks to invest in the project. "Despite the continued interest of the prospective equity partners in Bloom Lake... the potential investment is not achievable within a time...

  • Nov 19- Cliffs Natural Resources Inc said it was looking to exit its Eastern Canadian iron ore operations, which may result in the closure of its Bloom Lake mine in Quebec. "Despite the continued interest of the prospective equity partners in Bloom Lake... the potential investment is not achievable within a time frame acceptable to Cliffs," Chief Executive Lourenco...

  • METALS-Copper steadies on signs of tight supply near term Wednesday, 19 Nov 2014 | 6:37 AM ET

    LONDON/ SYDNEY, Nov 19- Copper steadied on Wednesday as investors weighed signs of physical supply tightness against long-standing expectations of market surplus, while hopes for another wave of stimulus in Japan and Europe also underpinned prices. "China's State Reserves Bureau has accumulated up to 700,000 tonnes, that is what results in a deficit for this...

  • Cliffs looking to exit Canadian iron ore operations Wednesday, 19 Nov 2014 | 6:22 AM ET

    Nov 19- Cliffs Natural Resources Inc said it was looking to exit its Eastern Canadian iron ore operations, which may result in the closure of its Bloom Lake mine in Quebec.

  • European shares slip; Areva sinks after dropping targets Wednesday, 19 Nov 2014 | 3:12 AM ET

    PARIS, Nov 19- European shares inched lower in early trade on Wednesday, with mining shares dragged by a sharp fall in iron ore prices and nuclear group Areva sinking after it dropped its financial targets. Shares in France's Areva tumbled 19 percent after it suspended its 2015 and 2016 financial targets, blaming delays to a Finnish nuclear project, the slow...

  • *Coming up: U.S. Housing starts for Oct at 1330 GMT. SINGAPORE, Nov 19- Gold slipped on Wednesday as a stronger dollar prevented the metal from holding on to sharp overnight gains that took it to a near three-week high. "It felt like another short-covering rally as we have not been able to hold above $1,200," said a precious metals trader in Singapore.

  • 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.

  • TORONTO, Nov 18- Barrick Gold Corp named mining industry veteran Shaun Usmar as its chief financial officer designate on Tuesday, marking the latest shake-up at the gold miner. The Toronto- based gold mining giant has in the last three months let go of at least three other top executives, including its chief executive, the head of legal counsel, along with its head of...

  • LONDON, Nov 18- Gemfields, the world's largest rough emerald producer, expects to take up to two more years to have stopped the losses at the Faberge jewellery business it bought two years ago, its chief executive, Ian Harebottle, said. London- listed Gemfields, which mines emeralds in Zambia and rubies in Mozambique, bought Faberge in the hope that the brand made...

  • *China home prices fall for second consecutive month in Oct. LONDON, Nov 18- Copper, aluminium and other base metals prices fell on Tuesday, as weak property sector data from China raised concerns about the outlook for demand from the world's top metals consumer. Copper prices have stayed between $6,500 and $6,800 a tonne since mid-September.

  • METALS-Copper slips on weak China property sector Tuesday, 18 Nov 2014 | 5:54 AM ET

    *China home prices fall for second consecutive month in Oct. LONDON, Nov 18- Copper prices dipped on Tuesday, as disappointing property sector data from China raised concerns about the outlook for demand from the world's top metals consumer. Copper prices have stayed between $6,500 and $6,800 a tonne since mid-September.

  • *Hurdles to boosting Australian farm exports to China. SYDNEY, Nov 18- A trade deal signed with great fanfare between China and Australia has been touted as a major step towards Australia shifting its economy from a "mining boom" to a "dining boom," but the reality is likely to be more sobering. China is already Australia's top trading partner, with two-way trade of...

  • *Gold firm near $1,185/ oz. SINGAPORE, Nov 18- Gold held below a two-week peak on Tuesday, its safe-haven appeal dulled with the dollar near a four-year high and growing signs of strength in the U.S. economy. The dollar held steady on Tuesday after European Central Bank officials raised the prospects of further stimulus and as investors waited to see if Japan's...

  • Nov 17- American Specialty Alloys said it plans to build a $1.2 billion aluminum mill in southeastern United States to tap into rising demand from the automotive industry. Boggs is making the switch to aluminum after almost a quarter of a century working in engineering and technology development for major steel producers including AK Steel, Severstal's...

  • NEW YORK/ LONDON, Nov 17- Gold retreated from a two-week high hit earlier on Monday as the dollar rose on news that Japan had slipped into recession, and strong technical resistance could also further limit bullion's gains in the near term, analysts said. "The next technical hurdle for gold will be its 50- day moving average, which has been acting as its stubborn...

  • LONDON, Nov 17- Tin is once again failing to live up to its bull hype. The price of the soldering metal on the London Metal Exchange last month touched a 15- month low of $19,000 per tonne. So too is Indonesia, the world's largest exporter.

  • *Gold holds gains after 2 percent rise on Friday. LONDON, Nov 17- Gold held near a two-week high on Monday as global shares fell after data showed Japan had slipped into recession, raising concerns about global growth, but strength in the dollar kept the metal's gains in check. Spot gold was down 0.1 percent at $1,188.00 an ounce by 1049 GMT after peaking at $1,193.95,...

  • LONDON, Nov 17- Most base metals were steady or firmer on Monday, supported by forecasts for developing shortages, but news that Japan had slipped into recession capped the upside. "On a fundamental basis, we continue to think that metals with deficits will still be able to outperform," said Nicholas Snowdon, metals analyst at Standard Chartered in London.

  • *Gold scales 2- week high. *Holding $1,180 level key for further gains- trader. SINGAPORE, Nov 17- Gold held near two-week highs on Monday, clinging on to gains from the previous session's short-covering rally, on a softer dollar.

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