Materials and Metals


  • MOSCOW, March 14- Russian coal miner and steelmaker Mechel is in talks with Alfa Bank, Russia's largest private bank, on paying off a $150 million debt early, Mechel said on Friday. The company's press-service said in an emailed comment that Alfa Bank had asked for the early repayment and the two sides were in discussions.


  • SEOUL, March 14- POSCO's new chief executive said the South Korean steelmaker will restructure non-steel businesses and not make any major investment in increasing steelmaking capacity, in a marked break from the strategy of his predecessor.

  • SEOUL, March 14- POSCO's new chief executive said the South Korean steelmaker will sell non-core assets and list some affiliates to shore up its balance sheet, shying away from major new investments in a marked break from his predecessor's strategy.

  • SEOUL, March 14- POSCO's new chief executive said the steelmaker will shy away from expanding manufacturing capacity for the time being, and raise cash by selling non-core assets and by listing some affiliates- a marked break with the strategy set by his predecessor.

  • NEW YORK, March 13- General Motors Co is facing increasing pressure to compensate victims for an ignition defect that prompted the recall of 1.6 million vehicles, even if some would-be plaintiffs are barred from suing the auto maker under the terms of its emergence from bankruptcy in 2009..

  • WINNIPEG, Manitoba, March 13- Two junior potash producers working in unusual locations look set to shake off the most bearish industry conditions in five years and open new mines, helped by their proximity to Brazil and Africa, two of the world's most promising but under-served fertilizer markets.

  • What happened? Global events sting stocks Thursday, 13 Mar 2014 | 2:31 PM ET
    Trader on the floor of the New York Stock Exchange.

    Stocks tumbled amid concerns events surrounding Ukraine are escalating and China's slowing growth will rub off on the global economy and bite corporate profits.

  • SHANGHAI, March 13- Growing jitters about the financial health of bloated industries in China have prompted many banks to cut lending in these sectors by as much as 20 percent, banking and industry sources with knowledge of the matter said.

  • LONDON, March 13- "We believe commercial shale gas extraction should only go ahead in the United Kingdom if it can be objectively demonstrated that the regulatory framework is fit for purpose," six leading conservation organisations wrote in a report on Thursday.

  • Secretive Chinese funds: a potent force in copper rout Thursday, 13 Mar 2014 | 8:15 AM ET

    HONG KONG/ SHANGHAI/ SYDNEY, March 13- Chinese funds taking massive short positions played a powerful role in copper's slide to around four-year lows this week, signalling the growing force of the sector in global commodities markets.

  • LAUNCESTON, Australia, March 13- Conventional thinking is that iron ore prices have plunged this year because of concerns about China's economic growth outlook, but it's possible the reverse is the case.

  • Australia's iron ore miners hang tough as prices fall Wednesday, 12 Mar 2014 | 5:00 PM ET

    PERTH, March 13- If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd. "Sometimes it hurts a bit, like you copped it in the stomach.

  • FRANKFURT, March 12- German potash miner K+ S slashed its 2013 dividend and suspended its long-term payout goal to preserve cash for a new mine it is building in Canada despite a slump in prices of the fertiliser ingredient.

  • *No disruption from political tension in Ukraine. LONDON, March 12- Ukraine- focused iron ore miner Ferrexpo announced its second special dividend in as many years after it posted increased annual profit and said it is on track to boost production this year.

  • GLOBAL MARKETS-China worries chill markets, copper slumps Wednesday, 12 Mar 2014 | 5:47 AM ET

    *Shanghai copper futures lowest since 2009, gold hits 5-1/ 2 mth high. LONDON, March 12- A dizzying fall in copper to a near four-year low compounded increasing concern in China over its economic slowdown on Wednesday to send a wave of unease sweeping through world markets.

  • *Possibility of pick-up in China defaults could slow growth. LONDON, March 12- European shares fell on Wednesday, weighed down by below-forecast earnings reports and fears of more corporate defaults in China as a persistent decline in the copper price hit the mining sector.

  • Weaker personal goods, mining shares hit European stocks Wednesday, 12 Mar 2014 | 4:12 AM ET

    LONDON, March 12- European shares fell in early trading on Wednesday, with poor earnings outlook from some companies and concerns about the Chinese credit market hurting sentiment.

  • UPDATE 1-Growing iron output boosts miner Ferrexpo Wednesday, 12 Mar 2014 | 4:07 AM ET

    *No disruption from political tension in Ukraine. LONDON, March 12- Ukraine- focused iron ore miner Ferrexpo said it is on track to complete its expansion programme as it posted an increase in annual earnings, helped by higher iron ore output offsetting weaker prices for the steelmaking ingredient.

  • Nikkei drops 2.6 pct as China fears weigh on metal shares Wednesday, 12 Mar 2014 | 2:13 AM ET

    TOKYO, March 12- Japan's Nikkei share average fell to a one-week low on Wednesday as investors locked in profits after a recent rally and as caution over Chinese demand continued to hurt such commodity-related shares such as mining and metal companies.

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