Business Materials and Metals

  • LONDON, Sept 28- Tin hit its highest price since January last year on Wednesday after inventories dwindled while nickel struggled to advance as investors assessed the likely impact of mine suspensions in top ore exporter the Philippines. Falling shipments from leading tin exporter Indonesia and question marks over whether a surge in mining in Myanmar can be...

  • *FTSE 100 closes 0.6 pct higher. LONDON, Sept 28- Britain's blue-chip share index bounced back from a one-week low on Wednesday as engineering firm Smiths Group surged after posting higher-than-expected profits and miners tracked stronger metals prices. Rio Tinto, Anglo American and BHP Billiton rose between 0.8 percent and 2.7 percent as prices of major...

  • LONDON, Sept 28- Industrial and commodity group Liberty House's bid for Tata Steel UK's speciality steel and pipe businesses is worth nearly 100 million pounds, an industry source told Reuters on Wednesday. Britain's largest steelmaker paused the sale of its major UK assets in July to explore a joint venture with Germany's Thyssenkrupp, but proceeded with...

  • BUENOS AIRES, Sept 28- Barrick Gold Corp's Veladero mine in Argentina could reopen in coming days if a report confirms repairs were made after a leak of processing solution containing cyanide earlier this month, a provincial government said. A Barrick spokesman in Argentina said on Wednesday that the company was waiting for the judge's decision.

  • LONDON, Sept 28- Stocks of tin held in London Metal Exchange warehouses fell by another 80 tonnes yesterday. Headline inventory of 3,460 tonnes is the lowest it's been since 2008 and equivalent to less than four days of global usage. The three-month price, meanwhile, is trading just below the $20,000- per tonne mark, the highest it's been in a year.

  • LONDON, Sept 28- Tin hit a 20- month high on Wednesday as inventories dwindled, fueling worries about shortages, and nickel struggled to extend gains as investors digested news about more mine suspensions in top ore exporter the Philippines. Falling shipments from top tin exporter Indonesia and predictions a surge in mining in Myanmar is tapering off has...

  • BEIJING, Sept 28- The deputy general manager of Hebei Iron and Steel, China's largest steel company by output, is being investigated by the ruling Communist Party for suspected corruption, the party's anti-graft watchdog said on Wednesday. Wang Hongren is suspected of "serious discipline breaches," the Central Commission for Discipline Inspection said in a...

  • MANILA, Sept 28- London nickel futures held near a seven-week high on Wednesday after the Philippines said 20 more mines may be suspended for environmental violations, threatening supply from the world's top nickel ore exporter. Manila has already halted 10 mines in an audit over the past two months aimed at punishing irresponsible miners as the government...

  • SHANGHAI, Sept 28- Dongbei Special Steel Group, the struggling Chinese steelmaker, has ironed out a business revival plan, aiming to return to profit and slash leverage ratio in three years' time, the Economic Observer reported on Wednesday, citing unidentified sources. According to the plan, made at an internal meeting on Sept. 20, Dongbei Special Steel aims to make...

  • *Spot gold fell 0.1 percent to $1,325.81 an ounce by 0109 GMT. *A perceived win by Democrat Hillary Clinton in Monday's first presidential debate gave broader support to equities. *The World Trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the...

  • MANILA, Sept 28- London nickel futures held near seven-week highs early on Wednesday after the Philippines said 20 more mines may be suspended for environmental violations, threatening supply from the world's top nickel ore exporter. *The Philippines has ordered the suspension of 20 more mines as officials vowed to pursue stricter standards than in global...

  • LONDON, Sept 27- Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organisations forecast and supporting the mining and trading giant's case for continued investment in coal. Glencore Chairman Tony Hayward told a conference in London on Tuesday that, like oil companies, the group would...

  • *Shares fall as much as 4.7 pct, stock top FTSE 100 loser. Sept 27- Heating and plumbing products supplier Wolseley plans to close just over 10 percent of its UK branches in response to tough competition and weak trading, it said on Tuesday, a move that could lead to up to 800 job losses and create a more U.S.-focused firm. Wolseley, which makes about 80 percent of its...

  • LONDON, Sept 27- Nickel prices hit seven-week highs on Tuesday as worries about tight supplies were reinforced by the Philippine government recommending more mines for suspension over alleged environmental violations. Benchmark nickel on the London Metal Exchange traded up 2.7 percent at $10,825 a tonne in official rings, off an earlier session high at...

  • GRANGEMOUTH, Scotland, Sept 27- Britain's first shale gas delivery from the United States sailed into a heated European political debate on fracking on Tuesday and immediately ran into its first practical problem- the Scottish weather. Ineos is importing ethane, obtained from rocks fractured at high pressure, or "fracking", in a foretaste of larger deliveries of...

  • The Department of Environment and Natural Resources earlier suspended 10 other mines and declared a moratorium on new projects. Three of the 10 mines were included in the initial audit started shortly after President Rodrigo Duterte came to office on June 30. "Due to the government's emphasis on responsible mining, social and environmental standards are...

  • GRANGEMOUTH, Scotland, Sept 27- Britain's first shale gas delivery from the United States arrived to the sound of a lone piper on Tuesday morning as political debate about its controversial fracking method of extraction swirled both north and south of the Scottish border. Scotland's devolved government imposed a moratorium on fracking last year and...

  • LONDON, Sept 27- Nickel prices hit six-week highs on Tuesday as worries about tight supplies were reinforced by the Philippine government recommending more mines for suspension over alleged environmental violations. Benchmark nickel on the London Metal Exchange was up 1.5 percent at $10,695 a tonne at 1019 GMT, off an earlier session high of $10,745.

  • *Philippines is the world's biggest nickel ore supplier. MANILA, Sept 27- The Philippines has ordered the suspension of 20 more mines for environmental violations, as the world's top supplier of nickel ore vowed to pursue stricter standards than in global mining centres such as Canada and Australia. President Rodrigo Duterte has warned that the Philippines...

  • MANILA, Sept 27- A Philippine mining industry group said on Tuesday it was confident that the alleged environmental violations of eight member companies recommended by the government for suspension would be addressed properly and promptly. The eight miners, half of them nickel producers, are part of the Chamber of Mines of the Philippines and were among the 20...

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