Materials and Metals


  • *China physical copper trades at premium to ShFE front-month. *Alcoa to shut Port Henry smelter in Australia. SYDNEY, Feb 18- London copper was steady on Tuesday after gains in the previous two sessions, supported by a post- Lunar New Year pick up in Chinese buying.

  • *Underlying profit of $7.76 bln v $6.9 bln consensus. MELBOURNE, Feb 18- Global miner BHP Billiton topped market forecasts with a 31 percent rise in first-half profit on Tuesday and hinted it may launch a share buyback in August, despite a cautious outlook on Chinese growth.

  • SYDNEY, Feb 18- London copper held steady on Tuesday, supported by a post- Lunar New Year pick up in Chinese demand, but was down from near two-week highs hit the session before as traders waited for fresh readings on the pulse of the global manufacturing sector. *Copper prices reached an 11- seesion peak of $7,206.50 a tonne on Monday.

  • *Alcoa to close Australia Point Henry aluminium smelter. *Will bring total Alcoa capacity cuts to 551,000 tonnes. SYDNEY, Feb 18- Aluminium producer Alcoa Inc said it will close its Point Henry smelter and two rolling mills in Australia, underscoring the dire market conditions facing producers amid a flood of new Chinese capacity.

  • BEIJING, Feb 17- The big debate about how fast China's economy will grow this year can find some answers in the real world, where signs suggest the growth giant is slowly but surely losing its fizz.

  • NEW YORK, Feb 14- Hedge fund Paulson& Co maintained its stake in the world's biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the fourth quarter, even as others exited when bullion prices posted their biggest annual loss in 32 years.

  • TORONTO, Feb 14- Canada's Labrador Iron Mines Holdings warned on Friday it needs new investment to continue mining operations in 2014, underscoring the challenges facing some of the small and established iron ore miners in Canada and overseas.

  • *Shanghai warehouse copper stocks up 20.4 pct. LONDON, Feb 14- Copper rose on Friday, helped by a weak dollar and limited short-term availability of the metal in the physical market, but gains were limited by uncertainty about the demand outlook following soft U.S. and Chinese economic data.

  • LONDON, Feb 14- Global miner Anglo American said its overhaul should gather pace in the next two years after initial improvements at its copper and iron ore mines helped annual operating profit beat forecasts.

  • SYDNEY, Feb 14- London copper climbed on Friday, underpinned by a weaker dollar and returning Chinese demand, shrugging off signs of a soft patch in the world's top economy after a bitter winter chilled retail sales in the United States. *The most-traded April copper contract on the Shanghai Futures Exchange was steady at 50,690 yuan a tonne.

  • UPDATE 3-Barrick posts big loss, slashes gold reserves Thursday, 13 Feb 2014 | 2:33 PM ET

    TORONTO, Feb 13- Barrick Gold Corp, the world's largest gold miner, reported a big fourth-quarter loss on Thursday as it took a hefty impairment charge, cut its gold reserve estimate by 26 percent and said costs per ounce would likely rise this year. Dundee Capital Markets analyst Josh Wolfson said Barrick's shares have underperformed so far this year.

  • Feb 13- Phillips 66 Partners LP said it would buy a 681- mile refined products pipeline system and two refinery-grade propylene storage systems from Phillips 66 for $700 million.

  • Feb 13- Beverage cans maker Rexam Plc said it bought a 51 percent stake in Saudi Arabia's United Arab Can Manufacturing Ltd, a supplier to The Coca-Cola Co, for $122 million as part of its strategy to expand in emerging markets.

  • LONDON, Feb 13- European steel lobby Eurofer plans to file anti-dumping cases this year with the European Commission against exports of cold rolled stainless sheet from China and Taiwan and of electrical steel sheet from Russia.

  • Toronto- based Barrick forecast its all-in sustaining costs- a measure meant to capture the effective day-to-day cost of producing an ounce of gold- would be between $920 and $980 per ounce in 2014, up from $915 in 2013..

  • Feb 13- Canadian oil and gas producer Cenovus Energy Inc's fourth-quarter operating profit fell short of analysts' estimates as production at its Foster Creek oil sands project in northern Alberta dropped 11 percent.

  • Feb 13- Canadian oil and gas producer Cenovus Energy Inc reported a smaller fourth-quarter net loss, helped by higher production at its Christina Lake oil sands project in northern Alberta. The company's net loss narrowed to C $58 million, or 8 Canadian cents per share, in the quarter ended Dec. 31 from C $117 million, or 15 Canadian cents per share, a year earlier.

  • ICL to partner with Allana in Ethiopian potash mine Thursday, 13 Feb 2014 | 3:20 AM ET

    TEL AVIV, Feb 13- Israel Chemicals said on Thursday it would partner with Canada's Allana Potash to develop a potash mine in Ethiopia in a deal which includes ICL taking a stake in Allana.

  • HELSINKI, Feb 13- Finnish stainless steel firm Outokumpu reported a smaller than expected fourth-quarter loss on Thursday and forecast an improvement in the current quarter after cost cuts helped to limit the impact of weaker prices.

  • Finland's Outokumpu trims loss on cost cuts Thursday, 13 Feb 2014 | 2:20 AM ET

    HELSINKI, Feb 13- Stainless steelmaker Outokumpu reported a smaller-than-expected underlying loss for the fourth quarter and forecast an improvement in the current quarter after cost cuts helped to limit the impact of weaker stainless steel prices.

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