Business Materials and Metals

  • MELBOURNE, Aug 15- London copper was stuck near its weakest in one month on Monday as ebbing industrial growth in China tainted demand outlook, but growing prospects the United States will hold off raising rates until next year weighed on the dollar and supported prices. *Three-month copper on the London Metal Exchange traded flat at $4,759 a tonne by 0048 GMT,...

  • SANTIAGO, Aug 12- Swiss-based mining and trading firm Glencore said it would begin arbitration proceedings against Bolivia over the nationalization of some of its assets by the Evo Morales government. "Glencore's objective has always been to settle the dispute with the government of Bolivia amicably," the company said in an emailed statement on Friday.

  • LIMA, Aug 12- Economic growth in Peru likely slowed to 3.7 percent in June from the same month a year ago as construction activity shrank and production in the mining sector eased, a Reuters poll showed. Growth estimates of the eight economists surveyed ranged from 3 percent to 3.9 percent. All were below May's 4.88 percent year-on-year expansion and the 4.04...

  • LONDON, Aug 12- Copper fell to its weakest in a month on Friday and other industrial metals also touched new lows after Chinese fixed-asset investment and loans data missed forecasts, raising doubts about demand in the world biggest metals consumer. The last two or three from China have not been particularly encouraging, it's a tough time, "said Asa Bridle, analyst...

  • LONDON, Aug 12- Nickel and zinc drifted to the lowest in a week on Friday and other industrial metals also fell after Chinese fixed-asset investment and loans data missed forecasts, raising doubts about demand in the world biggest metals consumer. The last two or three from China have not been particularly encouraging, it's a tough time, "said Asa Bridle, analyst at...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. The decline partly reflects China's efforts to address a chronic glut. In the months ahead, further capacity cuts, mostly via stricter...

  • Aug 12- China's average daily crude steel output fell in July from a record, government data showed on Friday, providing some respite to overseas rivals angered by a torrent of cheap steel from Chinese mills in the past year. Daily output averaged 2.15 million tonnes last month after a surprise increase to an all-time high of 2.32 million tonnes in June, according...

  • Aug 12- China's average daily crude steel fell in July from a record high in the previous month, government data showed on Friday, as Beijing's environmental clampdown curbed production in the world's top steel producer. Tougher environmental inspections of mills across China, including in the major producing city of Tangshan, had led to some closures, as...

  • MELBOURNE, Aug 12- London copper slipped back toward four-week lows on Friday after a string of China data missed expectations, but was still targeting a small weekly advance, cushioned by a weaker dollar. China's fixed-asset investment growth eased to 8.1 percent year-on-year in the January-July period, missing market expectations while industrial output...

  • Aug 12- China's crude steel output rose 2.6 percent from a year ago to 66.81 million tonnes in July, data from the National Bureau of Statistics showed on Friday.

  • *Nippon Steel could consider consolidation of Japan facilities. TOKYO, Aug 12- A soaring yen in the wake of Britain's decision to leave the European Union may stymie a possible recovery in Japanese demand for steel, said an official at the country's top maker of the material. Nippon Steel& Sumitomo Metal Corp Executive Vice President Toshiharu Sakae said that a...

  • LONDON, Aug 11- Nickel, zinc and tin fell on Thursday, retreating from fresh peaks hit in the previous session as speculators booked profits from strong rallies so far this year. LME three month nickel was down 0.9 percent at $10,755 a tonne at 1408 GMT after prices on Wednesday hit the highest in a year at $11,030 on concerns the Philippines may shutter its nickel...

  • BEIJING, Aug 11- China's plan to reduce its excess coal output capacity has fallen behind with leading producing provinces yet to cut, as Beijing acts on over supply damaging coal companies, the National Development and Reform Commission said on Thursday. China said in February it expected to lay off 1.8 million workers in the coal and steel industries, or about...

  • *Coming Up: U.S. Weekly jobless claims at 1230 GMT. LONDON, Aug 11- Nickel, zinc and tin fell on Thursday, retreating from fresh peaks hit in the previous session as speculators booked profits from strong rallies so far this year. LME nickel was down 0.8 percent at $10,765 a tonne at 1015 GMT after prices on Wednesday hit the highest in a year at $11,030 on concerns the...

  • FRANKFURT, Aug 11- German industrial group Thyssenkrupp reported an unexpectedly sharp drop in demand from customers hit by weak oil and raw materials prices, sending its revenues down 12 percent in the quarter to the end of June and knocking its shares. But Chief Financial Officer Guido Kerkhoff said it was too early to speak of a sustainable upturn in European...

  • *Coming Up: U.S. Weekly jobless claims at 1230 GMT. MELBOURNE, Aug 11- London nickel fell on Thursday from a one-year high hit in the previous session as traders booked profits on the near completion of a Philippine mine review, while copper held steady not far from four-week lows. LME nickel fell 1 percent after prices on Wednesday hit the highest in a year at $11,030 a...

  • LAUNCESTON, Australia, Aug 11- Here we go again! The first is that the tax hike is extremely unlikely to succeed in the form proposed by Brendon Grylls, the newly-installed leader of the National Party in Western Australia. What the WA Nationals have proposed is levying A $5 a tonne on iron ore, but only for the two major producers and not for Australia's...

  • MELBOURNE, Aug 11- London copper held steady on Tuesday not far from four-week lows, while nickel prices fell from one-year highs as profits were booked as a Philippines mine review draws to a close. *Shanghai Futures Exchange copper rose 0.4 percent to 37,510 yuan a tonne. LME nickel fell 1 percent after prices on Wednesday hit the highest in a year at $11,030 a...

  • SAO PAULO, Aug 10- Vale SA, the world's largest producer of iron ore, denied it plans to raise cash from the sale of future iron ore output through a so-called streaming financing transaction. Rio de Janeiro- based Vale told the securities industry watchdog in a filing that the information regarding the streaming financing deal was "not true." Reuters reported on Aug....

  • *Tin hits highest since Feb 2015 on China smelter curbs. LONDON, Aug 10- Zinc rallied to its highest in nearly 15 months on Wednesday as investors continued to fret over a shortage of mine supply, while other metals surged amid sharp falls in the dollar. "In copper, it appears to be exogenous factors like the dollar," said Standard Bank analyst Leon Westgate.

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