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Materials and Metals

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  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • TURKISH MINE OPERATOR SOMA KOMUR SAYS NEARLY 450 OF ITS WORKERS WERE RESCUED AFTER DEADLY FIRE AT COAL MINE.

  • NEW DELHI/ MUMBAI, May 14- Tata Steel Ltd said a phase of solid economic growth in Europe was supporting a recovery in steel demand in its main market, which also helped the company post results that easily beat analysts' estimates in the March quarter. Tata Steel got a foothold in Europe through its $13 billion acquisition of Britain's Corus in 2007..

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 238 workers were confirmed killed and 120 more still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • FACTBOX-What is the London silver fix? Wednesday, 14 May 2014 | 9:14 AM ET

    May 14- The 117- year-old global benchmark price for spot silver, known as the silver fix, is to be scrapped from August. The fix is set every day at noon by three banks, who get together over the telephone to work out the price at which their customers are willing to buy and sell the metal.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose around one percent on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus measures from the European Central Bank.

  • *Gold reserves fell to unsustainable levels. RABAT, May 13- Morocco's biggest miner Managem has ended gold extraction in the southern Akka gold mines after reserves fell to non-viable levels, leading to the loss of around 300 jobs from its own staff and contractors, it said on Wednesday.

  • *Coal tops the list for deaths in energy sector. *Coal is also a major polluter. Coal mining is responsible for more fatalities than the production of any other energy source due to poor working conditions in producing countries such as China, Turkey, South Africa, Indonesia and Colombia.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus from the European Central Bank.

  • METALS-Nickel slips from 27-month highs, copper gains Wednesday, 14 May 2014 | 6:00 AM ET

    LONDON, May 14- Nickel prices slipped on Wednesday as a rally that had propelled the metal to 27 month highs ran out of steam, but concerns about tightening supplies are likely to keep prices supported. Three-month nickel on the London Metal Exchange fell 1 percent to $20,781 a tonne at 0936 GMT, after rising the last six trading sessions.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Rescuers pulled more dead and injured from a coal mine in western Turkey on Wednesday more than 19 hours after an explosion, bringing the death toll to 205 in what could become the nation's worst ever mining disaster.

  • UPDATE 2-AMCU strikers block South Africa platinum mines Wednesday, 14 May 2014 | 4:09 AM ET

    *Lonmin had been aiming for a "mass return". MARIKANA, South Africa, May 14- About 1,000 stick-wielding strikers gathered outside Lonmin's Marikana platinum mine in South Africa on Wednesday, preventing workers from breaking the longest and costliest bout of industrial action in the sector's history.

  • BECKLEY, W.Va., May 13- The West Virginia coal mine where a collapse this week killed two workers had "chronic compliance issues" and received numerous citations from inspectors last year, federal authorities said on Tuesday.

  • METALS-Nickel comes off 27-month highs; copper steady Tuesday, 13 May 2014 | 9:40 PM ET

    SYDNEY, May 14- London nickel slipped on Wednesday, losing steam after supply concerns drove a rally of more than 15 percent in three days, while London copper steadied on the prospect that a slowdown in top consumer China could be countered by fresh stimulus.

  • SINGAPORE, May 14- Platinum and palladium retained on Wednesday sharp gains made overnight on worries that increasing labour tensions in major producer South Africa could hurt supply, while gold edged up on escalating violence in Ukraine.

  • *PM Erdogan cancels trip to Albania after the disaster. ISTANBUL, May 13- An explosion and fire in a coal mine in western Turkey killed at least 151 miners and trapped hundreds more on Tuesday, with the death toll expected to rise in the country's worst mining accident for more than two decades.

  • NEW YORK, May 13- BWAY Corp, one of the largest makers of rigid metal and plastic containers in North America, is considering a sale that could fetch around $2 billion, less than two years after it changed private equity ownership, people familiar with the matter said on Tuesday.

  • NEW YORK/ LONDON, May 13- Platinum and palladium both rose nearly 1.5 percent on Tuesday on the back of lingering supply worries as South Africa sent more police to the strike-hit platinum belt to protect miners after four were killed returning to work over the weekend.

  • European shares hit multi-year high, Airbus surges Tuesday, 13 May 2014 | 12:57 PM ET

    *Airbus, ThyssenKrupp help industrial shares. LONDON, May 13- European equities ended higher on Tuesday, with some benchmarks hitting multi-year highs following upbeat company results from major companies such as aerospace giant Airbus and steelmaker ThyssenKrupp.

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