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Materials and Metals

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  • *Tin matches May 8 high. LONDON, July 28- Copper prices rose on Tuesday, but the market remained nervous over the latest convulsions in Chinese equities and the possible ramifications for demand from the world's top metals consumer. Benchmark copper on the London Metal Exchange was up more than 1 percent at $5,255 a tonne at 1057 GMT from $5,188 at the close on...

  • FRANKFURT, July 28- German drugs packaging firm Gerresheimer has agreed to buy U.S. plastic vial maker Centor for $725 million in cash, giving it a leading position in the world's biggest drugs market and lifting its shares to an all-time high. Shares in Gerresheimer jumped more than 15 percent to 65.33 euros, valuing the company at 2.05 billion euros.

  • *Kering, Statoil up on encouraging company updates. LONDON, July 28- European shares bounced back on Tuesday, lifted by strong company results and news of acquisitions after falling in the previous five sessions on concerns over China's growth. RSA Insurance Group surged 11.3 percent after Zurich Insurance said it was weighing up a bid for the British group with...

  • First Quantum said it was unable to provide estimates on how long the power supply reduction would last or its impact on production. The country's power provider ZESCO has contracted independent power producers to procure more electricity by the end of 2015, First Quantum said. First Quantum's Zambian smelter, which ramped up in February, is expected to...

  • KINGSPORT, Tenn. _ Eastman Chemical Co. on Monday reported second-quarter net income of $297 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share. Eastman Chemical shares have declined almost 5 percent since the beginning of the year, while the Standard& Poor's 500 index has stayed nearly...

  • MAPUTO, July 27- A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter, sources told Reuters on Monday. The giant piece of machinery, which is used to handle coal and other bulk materials, buckled last week, according to a mining industry...

  • United Steelworkers' negotiating committee and Stillwater CEO Michael "Mick" McMullen support it, but workers at the mine in Nye and smelter and the refinery complex in Columbus have said the contract could reduce their take-home pay. An answering machine reached Monday at the United Steelworkers Local 11 -0001 office in Columbus urged Stillwater employees...

  • BILLINGS, Mont.— The Northern Cheyenne tribe is planning additional investigations of cultural sites along the path of a proposed railroad that would open new areas of southeastern Montana to large-scale coal mining. Tribal Councilmember Conrad Fisher said elders will revisit areas previously surveyed by contractors for the Surface Transportation...

  • LONDON, July 27- Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. The first-half drop in China's steel production may look marginal, equivalent as it was to just 5 million tonnes less output than in the first half of last year.

  • Synalloy posts 2Q profit Monday, 27 Jul 2015 | 9:15 AM ET

    SPARTANBURG, S.C. _ Synalloy Corp. on Monday reported second-quarter net income of $2.5 million. On a per-share basis, the Spartanburg, South Carolina- based company said it had net income of 28 cents. Synalloy shares have decreased 33 percent since the beginning of the year.

  • RPM International beats Street 4Q forecasts Monday, 27 Jul 2015 | 7:48 AM ET

    MEDINA, Ohio _ RPM International Inc. on Monday reported fiscal fourth-quarter net income of $128 million. RPM International expects full-year earnings to be $2.55 per share. RPM International shares have dropped slightly more than 9 percent since the beginning of the year.

  • SYDNEY, July 27- Australia has fast-tracked the building of prawn farm that is expected to dramatically boost the country's prawn output, as part of a growing focus on food exports to ease the economy's reliance on the faltering mining sector. Seafarms Group Ltd's proposed A $1.45 billion prawn farm in the Northern Territory had been awarded "major project"...

  • SYDNEY, July 27- Billionaire Gina Rinehart has bought a West Australian cattle station, further expanding into the country's farm sector with a deal that positions the mining magnate to profit from a recent Australian live cattle-export agreement with China. Rinehart, the richest person in Australia, completed the purchase of the Fossil Downs cattle station...

  • Taiwan stocks down, in line with regional bourses Sunday, 26 Jul 2015 | 10:03 PM ET

    TAIPEI, July 27- Taiwan stocks fell on Monday, in line with regional markets and Wall Street, ahead of a Federal Reserve rate meeting later this week. Leading chipmakers including world's No.1 chip packaging and testing firm Advanced Semiconductor Engineering Inc and memory chip maker Inotera Memories Inc led declines, falling 2.5 and 2.89 percent,...

  • MELBOURNE, July 27- London copper slipped on Monday to trade near its weakest in six years, as concerns over demand in top user China was compounded by a seasonal slowdown in manufacturing activity over the summer and ample supply. *Three-month copper on the London Metal Exchange edged down by 0.3 percent to $5,246.50 a tonne by 0038 GMT, after also ending softer on...

  • Oil and iron ore will rebound, but not gold: Expert Sunday, 26 Jul 2015 | 6:44 PM ET
    Oil and iron ore will rebound, but not gold: Expert

    Martin Lakos, division director at Macquarie Private Wealth, expects a rebound in the prices of oil and iron ore soon, but gold will likely continue to suffer on the back of a strong dollar.

  • With authorities at the Jamaica- based International Seabed Authority issuing exploration contracts, alarmed conservationists are warning that the deep ocean's fragile biodiversity must be protected and not nearly enough is known about the risks of extracting minerals from seabeds. "The pace of activity has increased dramatically over the last five...

  • TORONTO/ JAKARTA, July 25- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. "They haven't completed the terms," Coal and Minerals director general Bambang Gatot told reporters...

  • SANTIAGO, July 24- A Chilean mining contract worker was shot dead by police on Friday during a protest against state-owned copper company Codelco, prompting union leaders to say a four-day strike would intensify. The CTC did not elaborate on how it would escalate the labor dispute, which has already forced the suspension of operations at Codelco's Salvador...

  • NEW YORK/ LONDON, July 24- Gold turned higher after sliding more than 1 percent to its lowest since early 2010 on Friday, as the dollar fell from its highs and U.S. stocks extended losses, but the precious metal was on track to see the biggest weekly decline since March. Spot gold hit the lowest since February 2010 at $1,077.00 an ounce but was up 0.5 percent at $1,096.29...

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