Business Materials and Metals

More

  • LONDON, Feb 11- "The aluminum market continues to, in our view, face the greatest bearish fundamental shock in a generation, and perhaps, in its history." The Wall Street heavyweight is now projecting aluminum will trade at $1,350 per tonne on a 12- month horizon, down from its previous estimate of $1,550. On the London Metal Exchange three-month metal is today trading...

  • NEW YORK _ Multi Packaging Solutions International Ltd. on Thursday reported a loss of $7.9 million in its fiscal second quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share. Multi Packaging Solutions shares have decreased 16 percent since the beginning of the year.

  • *China holiday subdues volumes, creates volatility. LONDON, Feb 11- Copper rose on Thursday as the dollar slipped, but fears for global growth sparked by worries about a potential financial crisis and uncertainty about demand in China curbed gains. "But there are a lot of uncertainties, from what's happening in China to the fact that everybody thinks the Fed made a...

  • The Plymouth, Minnesota- based company also reported fourth-quarter profit that fell less than expected, and announced a $75 million share repurchase program. Its shares jumped nearly 5 percent in early trading on the New York Stock Exchange. Falling currency values against the U.S. dollar have lowered production costs 17 percent in Canada, where Mosaic's...

  • TORONTO, Feb 11- Canada's main stock index fell 1 percent on Thursday, hitting a three-week low as a string of disappointing corporate earnings reports added to broad investor unease about the global economy. Telus Corp declined 3.4 percent to C $38.49 after the telecom company reported a fall in quarterly profit, hurt by increased competition and weaker...

  • Gold Bullion stacked in a safehouse.

    Gold is a matter of faith, or the lack thereof in other assets, JPMorgan Asset Management's Robert Michele tells CNBC.

  • CAPE TOWN, Feb 11- From Ebola to Islamist insurgents to social unrest triggered by the global commodity downturn, mining firms operating in West Africa face mounting security challenges, analysts and executives say. "As mining companies lay off employees to protect their balance sheets as a response to the global commodity downturn, there is an increased risk...

  • *China holiday subdues volumes, creates volatility. LONDON, Feb 11- Copper rose on Thursday as the dollar slipped, but fears for global growth sparked by worries about a potential financial crisis and uncertainty about demand in China were expected to curb gains. "But there are a lot of uncertainties, from what's happening in China to the fact that everybody thinks...

  • The Plymouth, Minnesota- based company, which reported a better than expected fourth-quarter profit, also announced a $75 million share repurchase program. Adjusted earnings per share was 53 cents, compared with average analysts' estimates of 44 cents per share, according to Thomson Reuters I/B/E/S. Fourth quarter net earnings fell to $155 million, or 44 cents...

  • *China holiday subdues volumes, creates volatility. LONDON, Feb 11- Copper rose on Thursday as the dollar slipped, but fears for global growth sparked by worries about a potential financial crisis and uncertainty about demand in China were expected to curb gains. "But there are a lot of uncertainties, from what's happening in China to the fact that everybody thinks...

  • *Agrees $500 mln Antapaccay mine deal with Franco-Nevada. LONDON, Feb 11- Glencore has taken another step to reduce its debt by selling $500 million of future precious metals output, and deepened oil production cuts after prices fell further. The Swiss-based mining and trading company said overnight it had agreed to sell future precious metals production from...

  • Sonoco beats 4Q profit forecasts Thursday, 11 Feb 2016 | 6:51 AM ET

    HARTSVILLE, S.C. _ Sonoco Products Co. on Thursday reported fourth-quarter profit of $56.1 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share. Six analysts surveyed by Zacks expected $1.28 billion.

  • Rusal: Aluminum market 'finding balance' Thursday, 11 Feb 2016 | 5:37 AM ET

    The aluminum market will find an "equilibrium" this year after years of oversupply, according to the deputy chief executive of Rusal.

  • SYDNEY— Mining company Rio Tinto said Thursday it suffered a loss of $866 million in 2015 as deteriorating economic conditions around the world pressured prices of commodities such as iron ore and coal. The Australian mining giant on Thursday reported that 2015 revenue slumped to $34.8 billion from $47.6 billion the year before. Rio said it will reduce...

  • LONDON, Feb 11- Glencore has taken another step to reduce its debt by selling $500 million of future precious metals output and reported a drop in production of its most lucrative product, copper. The Swiss-based mining and trading company said overnight that it had agreed to sell future precious metals production from its Antapaccay mine in southern Peru to...

  • MELBOURNE, Feb 11- Rio Tinto slumped to a loss for 2015 as prices for iron ore and copper plummeted and scrapped its promise to maintain or lift its dividend annually for this year onward due to a tough outlook. Rio reported a net loss of $866 million, hammered by $1.8 billion in writedowns, relating mainly to its Simandou iron ore project in Guinea.

  • Rio Tinto slides to annual loss, abandons payout policy Thursday, 11 Feb 2016 | 1:18 AM ET

    MELBOURNE, Feb 11- Global miner Rio Tinto slumped to a net loss for 2015, hit by a rout in commodities, and scrapped its promise to pay a steady or higher dividend annually due to the tough outlook. Rio reported a net loss of $866 million, hammered by $1.8 billion in writedowns. Underlying earnings slumped 51 percent to $4.54 billion in 2015 from $9.31 billion a year...

  • LONDON, Feb 11- Buying by central banks as well as Chinese investors seeking protection from a weakening currency helped lift demand for gold in the final quarter of last year and the trend looks set to continue, the World Gold Council said on Thursday. China remained the world's biggest consumer of gold last year, ahead of India, with economic headwinds...

  • *Three-month copper on the London Metal Exchange rose by 0.6 percent to $4,470.50 a tonne by 0111 GMT, following 1.4 percent losses in the previous session when prices plumbed the weakest since Jan. 26 at $4,430 a tonne. *The Shanghai Futures Exchange was closed for a fourth session due to its Lunar New Year holidays. *China will do more to ease yuan convertibility in...

  • Kinross Gold reports 4Q loss Wednesday, 10 Feb 2016 | 7:11 PM ET

    TORONTO _ Kinross Gold Corp. on Wednesday reported a loss of $841.9 million in its fourth quarter. The Toronto- based company said it had a loss of 73 cents per share. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

Contact Materials and Metals

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.