Business Materials and Metals

  • TORONTO, Dec 9- Canada's main stock index barely extended a 19- month high on Friday, jumping 1.7 percent over the week, as heavyweight energy and bank stocks gained with rising oil prices and bond yields while mining losses eclipsed broad gains. Diversified miner Teck Resources Ltd fell 6.9 percent to C $29.37. "I think the materials have run way too far too fast and...

  • TORONTO, Dec 9- Canada's main stock index ended barely higher on Friday, notching a 1.7 percent gain on the week, as losses among mining stocks as precious metal prices fell offset big gains for major banks. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 17.00 points, or 0.11 percent, at 15,312.20. Seven of its 10 main groups gained.

  • WASHINGTON, Dec 9- The U.S. Senate sought to wrap up work on a government funding bill on Friday before the current spending authority runs out at midnight, but a Democratic push to add benefits for coal miners risked at least a brief government shutdown. But in the Senate, West Virginia's Joe Manchin and some other Democrats were delaying a vote in hopes of adding a...

  • WASHINGTON, Dec 9- President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair Chinese subsidies for its exports and barriers to imports. Led by Wilbur Ross, a billionaire steel investor and Trump's nominee for...

  • *China economy reflating as producer prices surge. LONDON, Dec 9- Copper ended the week higher on Friday after robust data from China offered more evidence the world's second biggest economy is recovering, even though moves by Chinese authorities to tame speculation made some cautious. The stronger-than-expected 3.3 percent surge in prices, along with upbeat...

  • *Plans investigation into cast iron from China/ India. *China says WTO rules mean it merits new treatment from Dec. 11. BRUSSELS, Dec 9- The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic...

  • BILLINGS, Mont.— The company that owns Montana's largest mining complex announced Friday that it will be acquired by a South African company for $2.2 billion in a deal that requires U.S. government approval. Sibanye Gold Limited will buy Littleton, Colorado- based Stillwater Mining Company under a merger agreement expected to close in the second quarter of...

  • LONDON, Dec 9- Crunch time is coming for the flow of nickel ore from the Philippines to China. Between them they account for around half of the country's production, putting at risk China's nickel pig iron producers who have become increasingly reliant on Philippine supply for their raw material input. This time around, however, normal seasonality could generate...

  • *China economy reflating as producer prices surge. LONDON, Dec 9- Copper was set to close the week higher on Friday after robust China data offered more evidence that the world's No.2 economy is recovering, though moves by Chinese authorities to tame speculation made some bulls cautious. The stronger-than-expected 3.3 percent surge in prices, along with upbeat...

  • BRUSSELS, Dec 9- The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, a case Beijing said it viewed with deep concern. An official at China's Commerce Ministry said Beijing attached a "high degree of attention and concern" to the case and that Europe's steel problems were due...

  • SEATTLE— Washington has become the first U.S. state to sue the agrochemical giant Monsanto over pervasive pollution from PCBs, the toxic industrial chemicals that have accumulated in plants, fish and people around the globe for decades. Jay Inslee and Attorney General Bob Ferguson announced the lawsuit at a news conference in downtown Seattle Thursday,...

  • JAKARTA, Indonesia— An international tribunal has ruled against a London- listed mining company seeking $1.3 billion in compensation from Indonesia's government for terminating coal mining licenses that were forged by an Indonesian business partner. The World Bank-affiliated International Centre for Settlement of Investment Disputes ruled earlier...

  • Dec 8- Washington state filed an environmental lawsuit on Thursday against agricultural company Monsanto Co seeking damages and cleanup costs associated with the company's production of PCBs, the state's attorney general said. The lawsuit- against Monsanto and two of its splinter companies, Solutia Inc and Pharmacia LLC- seeks compensation for damages to...

  • SEATTLE— Washington on Thursday became the first U.S. state to sue the agrochemical giant Monsanto over pervasive pollution from PCBs, the toxic industrial chemicals that have accumulated in plants, fish and people around the globe for decades. "It is time to hold the sole U.S. manufacturer of PCBs accountable for the significant harm they have caused to our...

  • SAO PAULO, Dec 8- Brazilian engineering conglomerate Camargo Correa SA is in talks to sell a minority stake in Loma Negra Cia Industrial SA, Argentina's No. 1 cement producer, a person familiar with the matter said on Thursday. Local financial blog Brazil Journal reported on Thursday that the Loma Negra deal would involve the sale of a 40- percent stake.

  • *Blames hackers based in southeast Asia. FRANKFURT, Dec 8- Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday. ThyssenKrupp, one of the world's largest steel makers, said it had been targeted by attackers located in...

  • Dec 8- United States Steel Corp said on Thursday that Chief Executive Mario Longhi was referring to the whole U.S. steel industry, not US Steel, when he spoke on Wednesday about potentially restoring up to 10,000 jobs in the United States. He had been asked about initiatives proposed by President-elect Donald Trump, who has said he wants to renegotiate trade deals,...

  • MOSCOW, Dec 8- Russian billionaire Vladimir Lisin may sell part of his holding in the country's largest steelmaker NLMK, which he controls, three banking and industry sources told Reuters on Thursday. Lisin controls 85.5 percent of NLMK and Forbes magazine ranks him as Russia's eighth richest businessman worth about $9.3 billion. Lisin's representative...

  • SAO PAULO, Dec 8- Brazilian engineering conglomerate Camargo Correa SA, which this year disposed of electricity and consumer goods assets, is in talks to sell a minority stake in Loma Negra Cia Industrial SA, Argentina's No. 1 cement producer, a person familiar with the matter said on Thursday. Local financial blog Brazil Journal reported on Thursday that the Loma...

  • FRANKFURT, Dec 8- Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday. ThyssenKrupp, one of the world's largest steel makers, attributed the breaches to unnamed attackers located in southeast Asia engaged in what it...

Contact Materials and Metals

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    Get these newsletters delivered to your inbox, and more info about about our products and service. Privacy Policy.