Business Materials and Metals

  • *Dalian iron ore falls over 5 pct after hike in transaction cost. MANILA, April 26- Iron ore and steel futures in China fell back again on Tuesday after authorities raised transaction costs to cool rapid gains that had raised concerns that an unstable speculative bubble was forming. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou have...

  • BRASILIA, April 25- Brazilian steelmaker Usiminas said on Monday it may raise prices further in Brazil if international steel prices continue to remain high.

  • Businessman toasting

    Ball Corp. said it along with rival Rexam agreed to sell some assets to Luxembourg-based packaging maker Ardagh Group for about $3.42 billion.

  • The deal would include the sale of about a fifth of the companies' combined can making or producing plants across Europe, Brazil and the United States, Ball said in a statement on Monday. However, the deal earlier ran foul with European antitrust regulators as it would give the enlarged entity considerable market share in Europe, the United States and Brazil.

  • MANILA, April 25- Shanghai aluminium futures jumped to their highest level in nearly 10 months on Monday, tracking gains on the London Metal Exchange amid optimism about a demand pick-up up in top consumer China. While demand is recovering, restarts among aluminium smelters in China after production curbs last year had been slow, tightening supply.

  • April 25- Drinks can maker Ball Corp said it along with British rival Rexam Plc agreed to sell some assets to Luxembourg- based packaging maker Ardagh Group for about $3.42 billion to meet antitrust regulations ahead of their planned merger. The deal would include the sale of 22 Ball and Rexam manufacturing plants across Europe, Brazil and the United States, the...

  • WARSAW, April 22- The European Union should protect its steel industry which is loosing its competitive edge in the face of cheaper Chinese products, German Economy Minister Sigmar Gabriel said on Friday. "So we very much support negotiation with China, but if it is not possible to come to a common approach then the EU has to protect its industry until we have a fair...

  • *FTSE 100 poised to end three-week run of gains. LONDON, April 22- Britain's benchmark shares index fell on Friday as a drop in mining stocks and luxury goods group Burberry weighed on the market, which was heading towards its first weekly loss in a month. Mining stocks such as Anglo American and Rio Tinto were the worst performers, hit by a drop in copper prices.

  • LONDON, April 22- Copper and aluminum held steady on Friday, near their highs touched in the previous session, but many analysts were wary that prices were stretched and could be due a correction lower as demand was still patchy. Aluminum touched its highest seven months on Thursday and copper hit a four-week peak, partly on optimism about an economic rebound in...

  • HELSINKI, April 22- Finnish engineering group Metso posted a lower-than-expected quarterly profit and new orders on Friday as miners delayed buying its grinding mills and crushers. Nordic mining equipment makers are struggling as mining groups cut spending due to low metal prices and uncertainty over growth in top metals consumer China.

  • *Expects iron ore to drop to $35/ tonne by end 2016. SINGAPORE, April 22- The recent rally in commodity prices is not supported by fundamentals in the physical markets, Goldman Sachs said, adding that oil could see downside risks in the near term. Copper, iron ore and silver, all used widely in manufacturing, have rallied in recent days on hopes of better demand from top...

  • SHANGHAI, April 22- Chinese bond yields extended their three-week long march higher this week, as rising worries about corporate creditworthiness and a less aggressive easing stance by the central bank drained liquidity from the fixed income market. Corporate spreads have also risen following several high profile defaults, including that of Dongbei...

  • LONDON, April 21- Britain could part-nationalise Tata's UK steel plants by taking a 25 percent equity stake, as part of a support package worth hundreds of millions of pounds designed to attract a buyer and save at least 10,000 jobs. The Conservative government, which privatised the steel and other industries under former Prime Minister Margaret Thatcher, is...

  • UK GOV'T SAYS EUROPEAN INVESTMENT BANK HAS STATED IT STANDS READY TO CONSIDER POSSIBLE FINANCING FOR NEW INVESTMENT IN UK STEEL INDUSTRY ON BASIS OF SPECIFIC PROPOSALS.

  • *China to encourage coal, steel capacity drive overseas. *Japan concerned at rise in China steel exports. BEIJING, April 21- As part of efforts to ease domestic steel and coal overcapacity, widely blamed for triggering a global industry crisis, China said it will do more to help its firms shift capacity overseas while keeping tight control on adding new capacity at...

  • *Posco Q1 results buoyed by rallying China steel prices. *China steel prices unlikely to extend gains- POSCO exec. Currently there is a massive supply glut in the global steel market due to soaring cheap shipments from China as well from other countries, such as Japan and South Korea.

  • LONDON, April 21- Anglo American Plc reported lower first-quarter production across most of its mining businesses on Thursday ahead of its annual meeting, where shareholders have been urged reject CEO Mark Cutifani's pay. Last week, a big percentage of shareholders in BP voted against chief executive Bob Dudley's $20 million pay deal for 2015..

  • *China also to boost state support for shifting capacity overseas. BEIJING, April 21- China will strictly control credit available for new capacity additions in the steel and coal sectors, both of which are suffering from price sapping supply gluts, the government said on Thursday. It was unclear whether the government planned to encourage greater exports of...

  • April 21- Global mining company Anglo American Plc said first-quarter production at most of its units fell, or remained flat, as it cut production, sold assets, and reconfigured mines to cope with the slump in commodities prices. Diamond production at its De Beers unit fell 10 percent to 6.9 million carats, following a cut in production due to low prices, while...

  • SYDNEY, April 21- From trimming menus in staff canteens to cutting back on soap and washing detergent at worker camps, the global mining industry that once lavished perks on employees is scrimping like never before as a brutal downturn engulfs minerals markets. "It's not to the point yet where employees are being asked to grow their own vegetables or stay in...

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