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Glencore International PLC

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  • The backlog to remove aluminium from Detroit, the most acutely impacted location, shrank by 30 days to 641 days, while the wait to remove other metals stuck behind the wall of aluminium fell from 111 to 93 days. A "flash" queue to load out zinc at New Orleans, meanwhile, almost disappeared in November, dwindling to just 10 days from 71 days at the end of September.

  • SYDNEY, Dec 15- Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140 billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business. "For both companies, this is about wielding the greatest influence possible over the global marketplace," said Gavin...

  • LIMA, Dec 14- Workers at the Peruvian copper and zinc mine Antamina have ended a strike that began last Wednesday and will restart work on Monday, according to the mine owners. The mine is controlled by BHP Billiton and Glencore Xstrata, which have 33.75 percent stakes. Teck has a 22.5 percent interest, and Mitsubishi Corp has 10 percent.

  • COLUMN-Why oil prices are so unstable: Kemp Friday, 12 Dec 2014 | 7:05 AM ET

    Regular and apparently self-sustaining price cycles were first observed in the price of hogs in the United States and Germany in the final quarter of the 19th and first quarter of the 20th centuries. Economists in Italy, the Netherlands and the United States separately published theories in 1930 to explain why prices cycled up and down regularly rather than...

  • LAUNCESTON, Australia, Dec 11- If you were looking for a sign that coal prices have finally bottomed out, then the ramping up of merger and acquisition activity is often a good indicator. In the past few days, a flurry of announcements have hit the headlines, including Anglo American's proposed sale of coal assets in Australia and South Africa, and Peabody Energy and...

  • SYDNEY, Dec 11- Global aluminium premiums are expected to reach fresh record highs by mid-2015 on a supply deficit in the United States and Europe, a Reuters survey showed. "The world, excluding China, will continue to be in short supply due to shut downs, production curtailments and strong demand in South America and North America," said one respondent.

  • *Criticises peers that oversupplied iron ore market. LONDON, Dec 10- Commodity trader and miner Glencore promised on Wednesday to focus on returning cash to shareholders rather than spending it on unruly expansion of output that could weigh on prices of the commodities it mines and trades. Some of Glencore's senior executives are among the largest...

  • Dec 10- Glencore promised on Wednesday to focus on returning cash to shareholders rather than spending it on a disruptive expansion of output that could weigh on prices of the commodities it mines and trades. Some of Glencore's senior executives are among the largest shareholders in the company. Glencore shares are roughly flat on the year but have performed...

  • *OPEC trims world oil demand forecast to 28.92 mln bpd. *WTI falls almost $2 to $61.97/ bbl, lowest since July 2009. U.S. crude was down $1.69 at $62.13, having fallen $1.85 to $61.97 in early New York trading, its lowest since July 2009.

  • LONDON, Dec 10- Crude prices are likely to extend their 43 percent slump since June, the oil chief of commodities and mining group Glencore Plc said on Wednesday, with the drop so far not large enough to shut down excess production over the next six to nine months. Glencore, which has investments in a number of small fields in West Africa, said one project may be farmed...

  • LONDON, Dec 10- Glencore's oil chief said on Wednesday there was a "good chance" of crude prices extending their 43 percent fall since June, as he did not expect many oil projects to be shut over the next 6-9 months. However, Alex Beard told the trading and mining firm's investor day that he thought the lower oil prices went, the steeper the eventual price rebound was...

  • Dec 10- Glencore promised on Wednesday to focus on returning cash to shareholders rather than spending it on a disruptive expansion of output that could weigh on prices of the commodities it mines and trades. Excess capital will be returned to shareholders via dividends, share buybacks and/or other special distributions, Glencore's chief financial officer...

  • NEW YORK, Dec 9- Phibro, the storied energy trading firm run by famed oil investor Andrew Hall, is winding down in its current form, laying off some U.S. employees and pursuing a sale of some overseas operations, sources said on Tuesday. The divestment by Occidental Corp, which bought Westport, Connecticut- based Phibro from Citigroup Inc five years ago, will allow Hall...

  • NEW YORK, Dec 9- Phibro, the storied energy trading firm run by famed oil investor Andrew Hall, is said to be shutting down, with Hall focusing on his multibillion-dollar hedge fund, according to sources and reports on Tuesday. Westport, Connecticut- based Phibro, owned by Occidental Corp, is set to "close shop," according to two market sources who were told of the closure.

  • LONDON, Dec 4- Global mining company Rio Tinto is not looking to make any major acquisition to protect itself from a potential Glencore takeover, Chief Executive Sam Walsh said at a meeting with investors on Thursday. Since Rio Tinto rejected a tentative approach from smaller rival Glencore in July, speculation has mounted that it might rush to make an...

  • LONDON, Dec 4- Global mining company Rio Tinto is not looking to make any major acquisition to protect itself from a potential Glencore takeover, Chief Executive Sam Walsh said at a meeting with investors on Thursday. After Rio Tinto rejected a tentative July approach from smaller rival Glencore, speculation has mounted that it might rush to make an acquisition...

  • Oil services company Tullow Oil fell 7.1 percent while miner Glencore shed 4.3 percent. Adding to a more subdued market tone after a two-week rise for major European indexes, the U.S. National Retail Federation estimated sales over the full Thanksgiving weekend would show a decline of 11.3 percent from a year earlier, to $50.9 billion. European Central Bank...

  • PARIS, Nov 28- Louis Dreyfus Commodities named Mayo Schmidt, former head of Canadian grain handler Viterra, as its new chief executive in the latest stage of a corporate shake-up at the global trading firm. Louis Dreyfus, one of a quartet of "ABCD" companies that dominate agricultural commodity trading alongside Archer Daniels Midland, Bunge and Cargill, is trying...

  • SINGAPORE, Nov 28- Nathan Tinkler, the former mining magnate who lost his fortune because of a slump in coal prices, expects global mining companies such as BHP Billiton and Rio Tinto to put their coal assets up for sale. The former electrician who became Australia's youngest billionaire by betting on unloved coal assets in pre-boom 2006 only to see his empire...

  • That was the day 100,000 tonnes of metal being stored in LME-registered sheds in Detroit were canceled prior to physical load-out. The cancellations created an instantaneous bottleneck at Metro International, the dominant LME warehouse operator in Detroit. A relatively benign load-out queue of just over 20 days at Detroit mushroomed to a monster queue of...