Business Materials and Metals

  • CAPE TOWN, Aug 23- ArcelorMittal's South African business and the country's government have agreed a new pricing model aimed at bolstering the domestic steel sector and reviving the economy. The company was fined a record 1.5 billion rand on Monday for setting prices at the level consumers would have to pay for imported steel, but Trade and Industry Minister...

  • MANILA, Aug 23- A Philippine lawmaker has revived a proposal to ban exports of unprocessed minerals to spur domestic processing, in a move that may tighten global nickel supply and make it an even tougher business environment for miners in the world's top producer. The Philippines has vast but largely untapped mineral resources, limiting the contribution of...

  • *Gold could test $1,331.35- technicals. Spot gold slipped 0.1 percent to $1,337.55 an ounce at 0502 GMT. Although the medium-to-long term prospects for a series of rate hikes is not really high, there should be some short-term pressure on gold, "said Mark To, head of research at Hong Kong's Wing Fung Financial Group.

  • LONDON, Aug 22 (Reuters)- European stocks rose on Monday after falling the week before, as Swiss chemical company Syngenta gained after U.S. regulators cleared a takeover bid for the company by ChemChina. Syngenta rose up 10.6 percent, the top STOXX Europe 600 riser, after the Committee on Foreign Investment in the U.S. cleared ChemChina's $43 billion bid, making it...

  • TORONTO, Aug 22- Canada's main stock index fell on Monday as lower oil and metal prices weighed on energy and mining stocks, while Alimentation Couche-Tard Inc jumped after the convenience store operator bought a U.S. chain in an expansion move. The energy group retreated 1.2 percent, with oil prices falling as China ramped up exports of refined products, U.S. oil...

  • LONDON, Aug 22- Hope springs eternal in Cornwall when it comes to reviving tin mining in this southwestern corner of the United Kingdom. And although the current London Metal Exchange tin price of around $18,500 a tonne is much higher than back then, it is a far cry from the peak of $33,600 recorded in 2011.. Then it was the surprise emergence of a new mega-mine in...

  • LONDON, Aug 22- European markets bounced back on Monday, recovering from a sharp fall over the previous week as Swiss chemical company Syngenta jumped after a bid for it by ChemChina was cleared by a U.S. watchdog. Syngenta was up 11.9 percent, the top STOXX Europe 600 riser after U.S. regulator CFIUS cleared ChemChina's $43 billion takeover, removing significant...

  • *China copper exports hit over 75,000 T in July. MELBOURNE, Aug 22- London copper extended a slide on Monday as glut-hit China ramped up its exports of the metal as the dollar strengthened ahead of a key meeting of U.S. Exports of unwrought copper and copper products from China, the world's top user of the metal, stood at 75,022 tonnes in July, a more-than-fivefold...

  • LONDON, Aug 22- Swiss shares outperformed a flat European stock market on Monday, boosted by a jump in Swiss chemical company Syngenta after a bid by ChemChina to buy the firm was cleared by a U.S. watchdog. The stock contributed 32 points to Switzerland's SMI index, and single-handedly accounted for its gains. The STOXX 600 was down 0.1 percent, extending losses...

  • LAUNCESTON, Australia, Aug 22- A year ago it's likely you would have got better odds that Fortescue Metals Group and Bluescope Steel would go under rather than double profits, given the dire outlook for both iron ore and steel products at that time. Of course, both Fortescue, Australia's third-biggest iron ore miner, and Bluescope, the nation's most valuable steel...

  • Fortescue FY

    Fortescue Metals CEO Nev Power says the speed at which the miner can reduce its debt pile depends on the price of iron ore.

  • *China copper exports hit over 75,000 T in July. MELBOURNE, Aug 22- London copper edged down on Monday in the face of a stronger dollar and as glut-hit China ramped up its exports of the metal. Exports of unwrought copper and copper products from China, the world's top user of the metal, stood at 75,022 tonnes in July, a more-than-fivefold increase from the same month a...

  • Bluescope Results

    Bluescope Steel MD and CEO Paul O'Malley says a broad-based cost reduction program drove the company's profitability.

  • MELBOURNE, Aug 22- London copper held its ground on Monday in the face of a stronger dollar, with markets looking ahead to a breakdown of China's imports for fresh clues on its metals demand. *Shanghai Futures Exchange copper had finished Friday's late session down 0.1 percent at 37,290 yuan a tonne. *Hedge funds and money managers decreased their net long...

  • TORONTO, Aug 19- Canada's main stock index closed a fraction lower on Friday as investors awaited bank earnings and more talk from the U.S. Toronto Stock Exchange's S&P/TSX composite index closed down 8.22 points, or 0.06 percent, at 14,687.46. Canada's biggest banks report third-quarter earnings starting with Bank of Montreal next Tuesday followed by Royal...

  • Applied Materials CEO: We're the materials innovation leader

    Gary Dickerson, Applied Materials CEO, discusses his company's quarterly earnings and the trends in the technology and materials spaces.

  • TORONTO, Aug 19- Canada's main stock index was barely higher on Friday, as gains for bank, consumer and railway stocks offset declines for miners which fell on weaker metals prices. The most influential weights on the stock index included Barrick Gold Corp, which fell 0.8 percent to C $26.67. Silver Wheaton Corp fell 2.1 percent to C $38.27 and First Majestic Silver...

  • *Tighter aluminum supply in China amid slow output from restarts. LONDON, Aug 19- Copper and other industrial metals slumped on Friday in low volumes, pressured by a firmer dollar together with retreating stock and oil markets. Benchmark copper on the London Metal Exchange was down 0.3 percent at $4,797 a tonne by 1015 GMT after rising 0.8 percent on Thursday and...

  • *Tighter aluminium supply in China amid slow output from restarts. LONDON, Aug 19- Copper and other industrial metals slumped on Friday in low volumes, pressured by a firmer dollar together with retreating stock and oil markets. Benchmark copper on the London Metal Exchange was down 0.3 percent at $4,797 a tonne by 1015 GMT after rising 0.8 percent on Thursday and...

  • JAKARTA, Aug 19- Indonesian oil and gas producer PT Medco Energi Internasional Tbk plans to invest $500 million to build a copper smelter following its deal to buy control of Newmont Nusa Tenggara, its president commissioner told Reuters. The purchase of a majority stake in NNT, which runs Indonesia's second-biggest copper and gold mine, will help Medco to...

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