Materials and Metals


  • NEW YORK/ LONDON, July 17- Gold surged 1.3 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.

  • NEW YORK/ LONDON, July 17- Gold prices climbed more than 1 percent on Thursday on heightened geopolitical tensions and news of more U.S. sanctions against Russia, while palladium rose more than 1 percent on renewed supply worries.

  • JAKARTA, July 17- Newmont Mining risks its Indonesian mining licence being taken over by a state-owned firm if the U.S. miner does not resume copper production, the Southeast Asian nation warned, escalating a six-month dispute over export rules.

  • LONDON, July 17- Copper prices dropped to their lowest level in two weeks on Thursday due to intensifying concerns about the outlook for metal demand from the property sector after a Chinese builder warned of a possible bond default.

  • *Palladium prices hit highest since February 2001. LONDON, July 17- Gold rose on Thursday, extending the previous day's recovery from four-week lows as investors took advantage of lower prices to buy, though expectations that U.S. monetary policy is set to tighten limited gains.

  • *China builder warns it may default on bond. China's economic growth picked up slightly in the second quarter as stimulus measures paid dividends, but analysts said Beijing needs to offer more support to meet its annual growth target as the property market slows. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne.

  • JAKARTA, July 17- Indonesia stepped up pressure on Newmont Mining over a six-month old dispute that has halted copper exports, warning it could hand the U.S. miner's licence to a state-owned firm if it does not resume shipments.

  • JAKARTA, July 17- Indonesia's government may offer Newmont Mining Corp's copper contract to state-owned Aneka Tambang if the U.S. company does not quickly resume production, a government official said on Thursday.

  • *China builder warns it may default on bond. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne. The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne by 0240 GMT, having slipped to 49,930 yuan earlier- its weakest since July 2.

  • SYDNEY, July 17- Shanghai copper fell to its lowest in a fortnight on Thursday as jitters over a possible bond default in China's construction sector triggered a round of profit taking. *The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne in overnight trade.

  • NEW YORK, July 16- U.S. precious metals dealer Anthem Vault Inc said on Wednesday it has launched the first digital currency backed by physical gold, with an aim to increase the use of bullion as an accepted form of electronic money.

  • TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.

  • *Strike has forced Toyota, GM, Ford to halt production. CAPE TOWN, July 16- South Africa's main manufacturing union, NUMSA, said it has agreed a plan of action to intensify a three-week strike over pay that has hit car makers and construction companies.

  • *China Q2 GDP growth slightly higher than forecast at 7.5 pct. LONDON, July 16- Aluminum touched the highest levels in 16 months on Wednesday after data showed stronger economic growth in top metals consumer China amid producer cutbacks and eroding inventories.

  • JAKARTA, July 16- Indonesia's likely next president signaled a conciliatory approach to the country's contract dispute with Newmont Mining Corp a day after the outgoing government threatened to end the U.S. miner's contract over a legal challenge.

  • *China Q2 GDP grows 7.5 pct on year. SYDNEY, July 16- A slight pick up in the pace of China's economic growth in the second quarter brightened the outlook for metals demand on Wednesday, helping drive Shanghai zinc and London aluminium near their highest in more than a year.

  • SYDNEY, July 16- Shanghai zinc rallied to a fresh 17- month high in early trade on Wednesday, playing catch up to overseas prices that have rallied on prospects of dwindling mine supply, while other contracts steadied ahead of a rash of China economic data.

  • JAKARTA, July 15- Indonesia could terminate Newmont Mining Corp's copper mine contract if the U.S.-based firm does not withdraw a legal challenge to the country's export taxes, a government official said on Tuesday. The firm, along with U.S. miner Freeport-McMoRan Copper& Gold, has halted copper exports for the last six months.

  • India may appeal parts of WTO steel ruling Tuesday, 15 Jul 2014 | 11:56 AM ET

    NEW DELHI, July 15- India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute.

  • *Albermale to pay $50.65 in cash and 0.4803 in stock. July 15- Chemicals maker Albemarle Corp said it would buy rival Rockwood Holdings Inc for $6.2 billion to tap the fast-growing demand for lithium products used in mobile phone and automobile batteries. Rockwood shareholders will get $50.65 in cash and 0.4803 Albemarle shares for each share they own.

Contact Materials and Metals


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More