Business Materials and Metals

  • *China has cut capacity; criticism is "lazy protectionism". *China says March output was a record 70.65 mln tonnes. BRUSSELS/ BEIJING, April 19- Under pressure to curb steel output and relieve a global glut, China said on Tuesday its production actually hit a record high last month as rising prices, and profits, encouraged mills that had been shut or suspended to resume...

  • *Rising anti-dumping duties against China seen hurting exports. SHANGHAI, April 19- The recent rally in steel prices in China will be unsustainable, given rising output from steel mills in the world's biggest producer and consumer of the alloy, the China Iron& Steel Association said on Tuesday. While government measures to boost the economy will underpin local...

  • *FTSE 100 rises to 4- month high. LONDON, April 19- Britain's benchmark stock market index rose to its highest level in four months on Tuesday, lifted by stronger mining and banking stocks. However, there is a danger that there may be a pullback soon, given the lingering uncertainty over the Brexit vote in June on Britain's membership of the EU, "said Thames Capital...

  • LAUNCESTON, Australia, April 19- Wanted: One mine, just started or close to production, preferably gold, must be in secure country with high-quality ore body and low costs. The above shopping list was the most common response from investors when quizzed as to what they are looking for in the commodity sphere during last week's Mining Investment Asia conference in...

  • *China says has cut capacity, criticisms "lazy protectionism". BRUSSELS/ BEIJING, April 19- China and other major steel-producing countries failed to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting U.S. criticism of Beijing's approach and an angry response from Chinese officials.

  • SHANGHAI, April 19- Chinese firms have delayed or cancelled at least 68.8 billion yuan of bond and other fixed income issuance so far in April, bond market data sources showed on Tuesday. Around 70 firms have delayed or cancelled issues, many in excess capacity industries including cement and mining, according to data compiled from China's two main...

  • *China says has cut capacity, criticisms "lazy protectionism". BRUSSELS/ WASHINGTON, April 19- China and other major steel-producing countries failed on Monday to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting U.S. criticism of Beijing's approach. Washington pointed the finger at China over the...

  • *China says has cut capacity, criticisms "lazy protectionism". BRUSSELS/ WASHINGTON, April 19- China and other major steel-producing countries failed on Monday to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity and whether Beijing is keeping loss-making producers afloat. Washington pointed the finger at China...

  • WASHINGTON, April 18- China must take "timely and concrete actions" to reduce excess production and capacity in its steel industry or face possible trade action from other countries, U.S. officials said on Monday. The warning followed failure to agree measures to tackle a global steel crisis during a meeting on Monday in Brussels of ministers and trade officials...

  • BRUSSELS, April 18- China and other major steel-producing countries failed on Monday to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity and whether Beijing is keeping loss-making producers afloat. China's assistant commerce minister, Zhang Ji, countered accusations that Beijing subsidises steel...

  • SANTIAGO, April 18- Chilean state-owned miner Codelco has extended the suspension of operations at its El Teniente copper mine until Thursday, after heavy rains wreaked havoc across the central part of the country. Chile accounts for a third of global copper production. The London- listed miner said on Monday it was normalizing mining activities at its...

  • SANTIAGO, April 18- Chilean state-owned miner Codelco said on Monday that operations at its El Teniente copper mine would likely be suspended until Thursday because of torrential rains over the weekend that triggered landslides and caused rivers to breach their banks. Shopping centers and schools were closed throughout the capital, Santiago, as the...

  • NEW YORK, April 18- The United Steelworkers said on Monday it has filed a complaint with U.S. regulators seeking to stem what it called a "flood" of aluminum imports that have damaged U.S. producers and threatened jobs. The aluminum workers' union said in a statement it has filed a petition under Section 201 of U.S. trade law urging the government to take measures,...

  • LONDON, April 18- Britain's top share index ended slightly higher on Monday after losses earlier in the session, with a late recovery in prices of major industrial metals supporting basic resources stocks. The UK mining index rose 1.4 percent as copper prices rose, reversing earlier losses as funds bought metals on the back of a weaker dollar.

  • *Concern surfaces over sustainability of improved China data. LONDON, April 18- Copper prices rose on Monday, reversing earlier losses as funds bought base metals on the back of a weaker dollar and offset the selling triggered by tumbling oil and global equities. Benchmark copper on the London Metal Exchange was up 0.2 percent at $4,814 a tonne at 1416 GMT from an...

  • BEIJING, April 18- China will reduce the number of statutory working days for its coal miners to 276 a year from 330 as it bids to tackle a chronic supply glut that has sapped prices, the country's work safety watchdog said on Monday. With demand on the wane and mining firms facing widespread losses, China plans to shut down 500 million tonnes of coal production...

  • *Concern surfaces over sustainability of improved China data. LONDON, April 18- Copper prices slipped on Monday alongside crude oil and global equities, though losses were limited by a weaker dollar and supply concerns after floods in Chile. Heavy rains in Chile, prompting Anglo American and state-owned producer Codelco to suspend operations temporarily at...

  • MELBOURNE, April 18- London copper slipped on Monday, weighed down by sharply lower oil prices after a meeting of producers in Doha failed to reach a deal to trim supply, undermining cost support for metals. A deal to freeze oil output by OPEC and non- OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the...

  • CUBATAO, Brazil, April 18- On a warm September morning in 2014, the 10- man board of Brazilian steelmaker Usiminas met on the ninth floor of a blue glass tower in Sao Paulo. The tense impasse marked a new deterioration of a conflict between the two controlling shareholders that has now left the survival of Brazil's largest producer of flat steel in doubt.

  • MELBOURNE, April 18- London copper steadied on Monday, capped by sharply lower oil prices after a meeting of producers in Doha failed to reach a deal to trim supply, undermining cost support for metals. A deal to freeze oil output by OPEC and non- OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the...

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