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  • LONDON, Jan 29- Saudi Arabia has successfully defended its share of the U.S. oil market even as rising domestic production from shale and growing pipeline imports from Canada have cut seaborne imports from other countries. Saudi Arabia has been fortunate in that the oil produced from shale is not in direct competition with its own crude exports.

  • "The Commission's decision... clearly shows that the scale of the crisis affecting the European steel sector has not yet fully registered with Brussels," said Gareth Stace, director of UK Steel. According to UK Steel, China accounts for more than 45 percent of the UK rebar market, up from zero four years ago. Kathleen Walker Shaw, European Officer for UK union GMB, said: "...

  • *Weak prices, China dumping weighing on Indian steelmakers. MUMBAI, Jan 29- India's JSW Steel Ltd said on Friday that its output and sales for the fiscal year to March will fall short of its target due to a delay in capacity addition, as it reported a $136 million quarterly loss. A sharp increase in imports from Japan and South Korea, who have free trade agreements with...

  • The company said it would temporarily idle its Harvey coal mine in southwestern Pennsylvania. Net income attributable to Consol fell to $30.4 million, or 13 cents per share, in the quarter ended Dec. 31, compared with a profit of $73.67 million, or 32 cents per share, a year earlier. Revenue fell nearly 19 percent to $761.9 million, missing Wall Street expectations of...

  • BRUSSELS, Jan 29- The European Union will impose duties on imports from China on steel used to reinforce concrete while its investigation into dumping by Chinese producers continues, the EU's official journal said on Friday. UK Steel, an industry body, criticised the ruling. "The Commission's decision... clearly shows that the scale of the crisis affecting the...

  • *Lead touches $1,703.50 a tonne, highest since Jan. 6. LONDON, Jan 29- Copper prices rose on Friday as traders and funds expecting tighter supplies reversed their bets on lower prices, but they expect uncertainty about Chinese demand to cap gains ahead of the Lunar New Year holiday. The metal used in power and construction is on course for a second week of gains of...

  • *Freeport copper export licence expired Thursday. *Freeport says "everything is normal" at massive mine. Asked if overseas shipments had ceased, a Freeport spokesman said "everything is normal", without elaborating.

  • Say China coal miners to get time off over Lunar New Year. BEIJING, Jan 29- In a break with tradition, 15 Chinese coal mining groups have said they will close operations and allow workers to leave their posts during the Lunar New Year holidays next month, taking some pressure off a sector burdened by massive overcapacity. Spot thermal coal in Qinhuangdao port has...

  • *Freeport copper export licence expired Thursday. JAKARTA, Jan 29- Indonesia has not yet issued a new copper export permit to the local unit of U.S. mining giant Freeport McMoRan Inc, government officials said on Friday, but talks on the issue are expected to continue later in the day. Freeport's six-month licence to export copper concentrate expired on Thursday...

  • MELBOURNE, Jan 29- London copper firmed on Friday and was set for a second weekly gain, as traders took heart from stabilizing oil prices, solid China imports despite its slowing economy, and stockpiling ahead of the Lunar new year. *Shanghai Futures Exchange copper edged down 0.3 percent to 35,640 yuan a tonne. *Russia said on Thursday that OPEC had proposed oil...

  • RIO DE JANEIRO, Jan 28- Brazilian miner Vale SA will recommend to its board that no dividend is paid to shareholders this year because of the slump in commodity prices, the company said on Thursday. Having announced dividend payments of $2 billion for 2015 at the start of the year, Vale was forced to reduce the amount by $500,000 in September as demand for iron ore...

  • RIO DE JANEIRO, Jan 28- Brazilian miner Vale SA will recommend to its board that no dividend is paid to shareholders this year because of the slump in commodity prices, the company said on Thursday.

  • TORONTO, Jan 28- The Canadian arm of mining giant BHP Billiton has signed a letter of intent to help fund exploration at Aston Bay Holdings Ltd's Storm copper project, Aston Bay said on Thursday. Under terms of the preliminary deal, BHP could earn a 75 percent interest in Storm, located in Canada's far north territory of Nunavut, if it spends a minimum of C $40 million...

  • JAKARTA, Jan 28- Indonesia's government and Freeport McMoRan Inc on Thursday failed to reach a deal on extending the U.S. mining giant's six-month export permit, potentially halting shipments from Indonesia's massive Grasberg copper and gold mine. Freeport's six-month export permit for its Indonesian unit expired on Thursday but it was still unclear how...

  • Shares of Potash Corp, which also reported a lower-than-expected quarterly profit on Thursday, fell 3.9 percent in pre-market trading in New York. Potash prices have fallen sharply on pressure from bloated capacity, soft grain prices and weak currencies in major consumers such as India and Brazil. Saskatoon, Saskatchewan- based Potash Corp suspended...

  • *Cevian, Union Investment criticize raised dividend. FRANKFURT, Jan 28- Indebted German industrial group Thyssenkrupp faced calls on Thursday from two influential shareholders not to pay a dividend, but to strengthen its balance sheet instead. Chief Executive Heinrich Hiesinger warned on Thursday that the company's ability to hit its financial forecasts...

  • Jan 28- U.S. aluminum producer Alcoa Inc said on Thursday it will supply aerospace parts to Boeing Co under a new long-term agreement, the latest in a series of contract wins. Shares of Alcoa were up 1.6 percent in premarket trading on Thursday. Alcoa has secured about $10 billion in aerospace contracts since the start of 2015, including the Boeing contracts.

  • BRUSSELS, Jan 28- The European Union will impose duties on imports of cold-rolled flat steel from China and Russia while its investigation into alleged dumping by the two countries continues. The European Commission has set provisional duties of up to 16 percent for China and of up to 26 percent for Russia, according to sources familiar with the Commission's...

  • *Fortescue now sees cash breakeven well below $36 a tonne. MELBOURNE, Jan 28- Australia's Fortescue Metals Group said on Thursday that it could weather far lower iron ore prices than previously touted, as the world's No.4 exporter of the steelmaking ingredient cuts costs faster than planned. That compares with prices near $41 a tonne on Thursday and would make...

  • JAKARTA, Jan 28- Indonesia's government and Freeport McMoRan Inc are meeting on Thursday in last-ditch talks to prevent a halt in exports of copper concentrate from the U.S. mining giant's massive Grasberg mine in the province of Papua. "There has been no information whatsoever from Freeport that states whether they are able to pay or not," Mohammad Hidayat, the...

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