Business Materials and Metals

  • BERLIN/ BRUSSELS, May 12- Germany looks set to abstain in a European Union vote next week on the continued use of glyphosate in weed killers because ministries run by different parties remain at odds over the chemical which some experts say could be carcinogenic. Experts from the EU's 28 member states will hold a closed-door meeting on Wednesday and Thursday in...

  • May 12- Honeywell International Inc, a U.S. manufacturer of aerospace parts and climate control systems, said it would spin off its $1.3 billion resins and chemicals business into a standalone company, as it focuses on high-growth businesses. The new company, to be named AdvanSix Inc, will be spun off by early 2017, Honeywell said on Thursday.

  • NEW DELHI, May 12- New Delhi urged South Korean steelmaker POSCO last month to buy local raw material for its automotive steel plant in western India, two government sources said, trying to cut imports and boost domestic production of high-value steel. New Delhi also initiated probes into the possible dumping of cheap steel into India by China, Japan and South...

  • May 12- Germany's Bayer AG is exploring a bid for U.S. seed company Monsanto Co, Bloomberg reported, citing people familiar with the matter. Bayer has discussed how to finance a deal including potential asset sales, Bloomberg reported. No final decision has been made and Bayer could decide against a bid or pursue other transactions with Monsanto, including joint...

  • May 12- Germany's Bayer AG is exploring a bid for seed company Monsanto Co, Bloomberg reported. Monsanto lost out to ChemChina in its bid to buy seeds and pesticides firm Syngenta last year. Monsanto, which had a market value of about $40 billion as of Tuesday's close, declined to comment.

  • *Canadian oil sands output gradually returns after wildfires OPEC to focus on dialogue, not action at June meet- Kuwait. LONDON, May 12- Oil prices rose towards six-month highs on Thursday, supported by data from the International Energy Agency showing tightening supply in addition to a surprise drop in U.S. crude inventories. Brent crude futures were trading at...

  • *China approves 13 fixed-asset investment projects. Other base metals prices had support from China's announcement of new spending measures to shore up its struggling economy, highlighting the potential for metals demand. Certainly stocks have started to fall both in China and in London, "said Caroline Bain, senior commodities economist at Capital...

  • *OPEC to focus on dialogue, not action at June meeting- Kuwait. SINGAPORE/ TOKYO, May 12- Oil prices were steady on Thursday, weighed by the gradual return of Canadian oil sands output but supported by a surprise drop in U.S. crude inventories and a tightening global market. The U.S. Energy Information Administration said on Wednesday that U.S. crude inventories fell...

  • TOKYO, May 12- Japan Petroleum Exploration will not restart production at its Hangingstone oil sands concession in Alberta, Canada, for the foreseeable future due to low prices, even after devastating fires in the area were brought under control. Japex, which shut down its 5,000 barrels per day Hangingstone plant last week, said the plant was not damaged in the...

  • *OPEC to focus on dialogue, not action at June meeting- Kuwait. The U.S. Energy Information Administration said on Wednesday that U.S. crude inventories fell 3.4 million barrels to 540 million barrels last week, compared with analyst expectations for an increase of 714,000 barrels and the American Petroleum Institute's reported build of 3.5 million barrels in...

  • Aviation Industry Corporation of China, China's biggest state-owned aerospace and defence company, has used the strategy twice, while state-owned China National Building Materials Group Co, a state-owned building products company, successfully used it in a case involving allegations that Chinese-made drywall led to health problems for U.S. homeowners.

  • International Brent crude futures were trading at $47.13 per barrel at 0143 GMT on Thursday, down 47 cents, or 1 percent, from their last settlement. The U.S. Energy Information Administration said on Wednesday that U.S. crude inventories fell 3.4 million barrels to 540 million barrels last week, compared with analysts' expectations for an increase of 714,000...

  • *Many blame China overcapacity for global glut. China, the world's top steel producer and exporter, is also the fifth-largest importer of steel, buying an equivalent of 13.57 million tonnes of crude steel last year. Last month, China and other major steel producers failed to agree on measures to tackle the overcapacity crisis, prompting the United States,...

  • NEW YORK/ HOUSTON May 11- U.S. Midwest refiners are rushing to secure alternatives for crude supply as they worry about prolonged outages after a raging wildfire in Canada shut nearly half of production capacity from the vast oil sands. They pointed to record crude stocks at the U.S. hub of Cushing, Oklahoma, swelling domestic supplies as well as growing imports...

  • CALGARY, Alberta, May 11- The massive wildfire raging in Canada's oil sands region has forced some thermal projects to shut down steaming operations entirely, taking producers into uncharted territory, as delicate reservoirs that require continuous production could be at risk, analysts said. Six companies have completely shuttered 115,000 barrels per day...

  • CALGARY, Alberta, May 11- The massive wildfire raging in Canada's oil sands region has forced some thermal projects to shut down steaming operations entirely, taking producers into uncharted territory, as delicate reservoirs that require continuous production could be at risk, analysts said. Six companies have completely shuttered 115,000 barrels per day...

  • RIO DE JANEIRO, May 11- Brazilian regulators plan to tighten rules on dams used in the mining industry after a breach last year caused the nation's worst environmental disaster but the changes, while opposed by struggling companies, look unlikely to improve safety. But engineers, prosecutors and tailings dam experts interviewed by Reuters say the changes will...

  • TOKYO, May 11- Japan's JX Holdings Inc said on Wednesday its Caserones copper mine in Chile ran at about 80 percent of capacity in March, missing its target for full utilisation during the month. JX, whose metal unit is Japan's biggest copper smelter, is now aiming to reach near full utilisation at Caserones by the end of September, Executive Officer Katsuyuki Ota...

  • LONDON, May 11- Britain's leading share index edged lower on Wednesday though it outperformed the rest of Europe thanks to a rebound in the mining sector on the back of stronger metal prices. Resource-related stocks were in demand, with the UK mining index rising 2.8 percent, the top sectoral gainer, after prices of copper, aluminium and zinc rose by 1-2 percent.

  • ANKA, Nigeria, May 11- Arriving on motorbikes after midnight, a dozen gunmen opened fire on gold miners sleeping at a camp in northern Nigeria last month, killing one of them and stealing their equipment before fleeing into the bush. The site, a collection of huts and tents flanked by Baobab trees where locals sell nuggets they get from crushing and washing rocks, is...

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