Business Materials and Metals

  • SHANGHAI, Sept 22- China's Baosteel Group will fully take over Wuhan Steel Group to create the world's second largest steelmaker after ArcelorMittal, as Beijing aims to increase the concentration level of the scattered industry. The new entity will be named China Baowu Steel Group, the Baosteel Group's listed units Bayi Iron& Steel and Baosteel Packaging said...

  • DALIAN, China, Sept 22- Australian iron ore miner Fortescue Metals Group said it hopes strong demand from China will eventually help revive stalled talks with rival Vale SA about blending their ore in the world's top consumer of the steelmaking raw material. The world's No. 4 and No. 1 miner announced in March that they were in talks to blend up to 100 million tonnes...

  • LAUNCESTON, Australia, Sept 22- One of the themes in Australia as the resource boom comes to an end is that the country will be able to compensate by boosting its agricultural sector, the so-called "mining to dining" maneuver. An Internet search of the terms Australia and "mining to dining" reveals almost 4,000 items, many focused on the view that China, the top buyer of...

  • DALIAN, China, Sept 22- China's steel demand is likely to drop for a third year in a row, an industry official said on Thursday, as mills in the world's top producer focus on reducing capacity. China's crude steel consumption slipped 1.9 percent over January to July and there may be a slight drop for the year, said Wang Liqun, vice chairman of the China Iron and Steel...

  • MELBOURNE, Sept 22- London nickel jumped by 1.5 percent on Thursday to its highest in six weeks as investors bet on the prospects of a wide reaching suspension of mining in Philippines crimping supply to China. London copper hit its highest in a month and other metals also rallied as the dollar dropped after the United States stood pat on interest rates but...

  • DALIAN, China, Sept 22- China's international commitment to cut its massive steel capacity has to result in a reduction in exports, an official from the World Steel Association said, as countries around the world scrutinise Beijing's progress tackling a chronic glut. While the world's biggest steel producer appears to be throwing more weight behind efforts to...

  • MELBOURNE, Sept 22- London copper rose on Thursday towards its loftiest level in a month as the dollar dropped after the United States stood pat on interest rates but signaled it could still tighten policy once this year. Price has been trapped between around $4,730 and $4,800 since mid September, having touched a four week top at $4,800 a tonne on Tuesday.

  • SANTIAGO, Sept 21- Chilean fertilizer and chemical producer SQM will invest around $30 million by the end of 2017 to increase its annual lithium hydroxide production capacity by 7,500 tonnes, the company said in a press release on Wednesday. Lithium hydroxide is used mainly in the production of heavy-duty lubricants, though SQM CEO Patricio de Solminihac said...

  • COLORADO SPRINGS, Colo., Sept 21- The world's biggest gold miners will stay shy of big acquisitions, top executives said this week, noting that a jump in the price of bullion has made potential purchases pricey, and memories of failed deals linger. The need for financial discipline was the dominant theme at the Denver Gold Forum this week, an annual conference for top...

  • *Philippines mine closures support nickel prices. LONDON, Sept 21- Copper retreated as profit-taking knocked it from four-week highs before a key U.S. However, we're ahead of the Fed so some profit-taking is to be anticipated, "said Kash Kamal, senior research analyst at Sucden Financial.

  • TORONTO, Sept 21- The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, which has been in creditor protection since September 2014, and the court supervising the company's credit protection proceeding, Ontario's government said in a statement. Steel Canada's plants in...

  • TORONTO, Sept 21- Canada's main stock index rose to its highest in 12 days on Wednesday as mining and energy stocks led a broad rise with higher commodity prices. Barrick Gold Corp rose 2.3 percent to C $23.24 and Goldcorp Inc advanced 3 percent to C $21.40. At 11:02 a.m. EDT, the Toronto Stock Exchange's S&P/TSX composite index rose 109.81 points, or 0.76 percent, to...

  • *Philippines mine closures support nickel prices. LONDON, Sept 21- Copper retreated on Wednesday as profit-taking pulled the commodity from four-week highs ahead of a key U.S. Benchmark copper on the London Metal Exchange was down 0.7 percent at $4,758 a tonne by 1025 GMT, paring small gains made in the previous session.

  • *Expectations of pick-up in China demand underpin copper prices. MELBOURNE, Sept 21- London copper hovered below four-week highs on Wednesday ahead of a key U.S. central bank interest rate decision, but expectations of a pick-up in demand from China underpinned prices. But as indicators improve from the world's top metals user, China, it appears more likely that...

  • What is the impact of Baosteel-Wuhan deal?

    The Baosteel-Wuhan merger will impact a lot of jobs, but Beijing will try to retrain the affected employees, says Patersons Securities' Rob Brierley.

  • *Expectations of pick-up in China demand underpin copper prices. MELBOURNE, Sept 21- London copper eased on Wednesday from four-week highs as the dollar rose ahead of key decisions by the Japanese and U.S. central banks, but expectations of a pick-up in demand from China underpinned prices. But as indicators improve from the world's top metals user, China, it...

  • MELBOURNE, Sept 21- London copper eased on Wednesday from four-week highs as markets waited for key decisions by the Japanese and U.S. central banks. *Shanghai Futures Exchange copper climbed 0.4 percent to 37,370 yuan a tonne. *China is set to maintain its economic growth momentum this year, Premier Li Keqiang told an economic forum in New York on Tuesday.

  • FRESNO, Calif.— Chemical manufacturing giant Dow fails to warn people in farming communities throughout California when a potentially dangerous pesticide is applied to nearby fields, health advocates claimed in a lawsuit filed Tuesday. Telone is among the most commonly used pesticides in California— applied to strawberry fields, almond orchards, vineyards...

  • WASHINGTON, Sept 20- U.S. lawmakers expressed concern on Tuesday over a wave of mergers among companies that sell farmers their seeds, herbicides and insecticides, worrying that the deals could lead to higher prices and less innovation at a time of dropping farm incomes. Senator Richard Blumenthal, a Democrat from Connecticut, said the proposed mergers of Dow...

  • LONDON, Sept 20- Dividend yields at British mining companies have hit a five-year low just as cash flows in the sector improve, prompting some analysts to call for higher payouts as early as next year. A slump in demand in recent years, owing largely to China's economic slowdown, led to sharp drops in prices of coal and metals, leaving companies nursing heavy losses...

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