Business Materials and Metals

More

  • LAUNCESTON, Australia, July 27- There is something of a delicious irony in China's iron ore miners complaining of dumping by foreign producers, but what it really underscores is the multitude of challenges facing the world's biggest steel industry. It's also far from clear that protecting the domestic miners from cheaper imports would actually help China's...

  • *Copper prices seen at $4,890 average in 4 Q- NAB. MELBOURNE, July 27- London copper edged down on Wednesday but held above one-week lows hit in the previous session ahead of the outcome of the U.S. "My medium to longer term view on copper prices is fairly bearish but the recent increase in prices seems to be a general reflection of risk on, as people become more...

  • MELBOURNE, July 27- London copper edged down on Wednesday but held above one-week lows hit in the previous session ahead of a meeting of the Federal Reserve which is expected to keep rates unchanged, keeping down costs for capital-intensive commodities. *Shanghai Futures Exchange copper climbed half a percent to 37,990 yuan a tonne. *Australia's Fortescue...

  • VANCOUVER, British Columbia _ Capstone Mining Corp. on Tuesday reported a second-quarter loss of $13.4 million, after reporting a profit in the same period a year earlier. The Vancouver, British Columbia- based company said it had a loss of 3 cents per share. Keywords: Capstone Mining, Earnings Report.

  • VANCOUVER, British Columbia _ Taseko Mines Ltd. on Tuesday reported a second-quarter loss of $15 million, after reporting a profit in the same period a year earlier. The Vancouver, British Columbia- based company said it had a loss of 7 cents per share. Keywords: Taseko Mines, Earnings Report.

  • July 26- Freeport-McMoRan Inc, the world's biggest publicly listed copper miner, put its high-profile asset sales plan on the rear burner on Tuesday, and instead unveiled a $1.5 billion share issue to help it cut debt. Freeport's chief executive said he was confident the company could reduce its $18.8 billion of net debt to between $13.2 billion and $10.5...

  • July 26- Canadian miner Sherritt International Corp is confident it and its partners in a large Madagascar nickel mine will reach agreement soon with lenders to defer repaying project loans for several years, Sherritt's chief executive said on Tuesday. Last month, Sherritt and its partners in the Ambatovy joint venture, Japan's Sumitomo Corp and Korea...

  • PITTSBURGH— United States Steel Corp. on Tuesday reported a loss of $46 million in its second quarter. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 55 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • TransCanada is behind the Energy East Pipeline project, a 4,600- kilometer pipeline, or nearly 3,000 miles, that would carry crude oil from tar sands in Western Canada to the East Coast, where it would then be shipped to refineries along the Texas Gulf Coast. Plans call for converting a natural gas line for part of the route and then building a new pipeline to...

  • July 26- Freeport-McMoRan Inc, the world's biggest publicly listed copper miner, put its high-profile asset sales plan on the rear burner on Tuesday, and instead unveiled a $1.5 billion share issue to help it cut debt. Freeport's chief executive said he was confident the company could reduce its $18.8 billion of net debt to between $13.2 billion and $10.5...

  • *LME lead risks long liquidation if breaks $1,800- Triland. Our economists think markets have become too complacent about the outlook for U.S. monetary policy, "said analyst Carsten Menke at Julius Baer in Zurich. Zinc, the best performing metal on the LME this year, ended down 0.9 percent at $2,229 a tonne, paring losses after touching $2,212, the lowest since July 18.

  • SAO PAULO, July 26- Brazilian equities rose on Tuesday as higher prices of iron ore lifted shares of miner Vale SA following a heavy batch of corporate reports. Iron ore futures listed in China rose more than 2 percent on Tuesday as steel prices recovered from a steep fall last week. But the Mexican benchmark index IPC seesawed as traders avoided making big bets...

  • TORONTO/ VANCOUVER, July 26- Barrick Gold Corp, the world's largest gold producer, is weighing a sale of its majority stake in African unit Acacia Mining Plc and has approached several South African miners, according to sources familiar with the situation. Barrick owns 64 percent of Acacia, a London- listed miner with three producing gold mines in Tanzania:...

  • July 26- U.S. miner and oil producer Freeport-McMoRan Inc's quarterly revenue fell far short of Wall Street estimates, mainly due to lower copper prices. The world's biggest listed copper producer said average realized price per pound of copper fell about 20 percent to $2.18 in the second quarter ended June 30. The Phoenix, Arizona- based company's consolidated...

  • WEST CHESTER, Ohio _ AK Steel Holding Corp. on Tuesday reported second-quarter net income of $17.3 million, after reporting a loss in the same period a year earlier. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share. AK Steel shares have more than doubled since the beginning of the year.

  • *LME lead risks long liquidation if breaks $1,800- Triland. LONDON, July 26- Copper, zinc and nickel touched one-week lows on Tuesday on market uncertainty ahead of the U.S. central bank meeting and as investors sold to book profits from a recent rally. Our economists think markets have become too complacent about the outlook for U.S. monetary policy, "said analyst...

  • PHOENIX— Freeport-McMoRan stock slumped Tuesday after the mining company reported weaker-than-expected revenue for the second quarter as the price of copper and oil plunged and gold sales tumbled. Freeport-McMoRan sold 156,000 ounces of gold, less than half as much as it sold a year ago. Excluding one-time items, Freeport-McMoRan said it lost 2 cents per...

  • CHICAGO _ USG Corp. on Tuesday reported second-quarter earnings of $74 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share. Four analysts surveyed by Zacks expected $1.01 billion.

  • July 26- Diversified U.S. miner and oil producer Freeport-McMoRan Inc reported a smaller quarterly loss as aggressive cost cutting helped counter a near 20 percent drop in copper prices. Freeport's net loss attributable to common stock narrowed to $479 million, or 38 cents per share, in the second quarter ended June 30 from $1.85 billion, or $1.78 per share, a year...

  • ATLANTA _ Graphic Packaging Holding Co. on Tuesday reported second-quarter net income of $77.8 million. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 19 cents per share. Graphic Packaging shares have climbed 2 percent since the beginning of the year.

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.