Business Materials and Metals

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares. JSW Steel said in a statement it was evaluating UK steel assets...

  • LONDON, May 10- Gold steadied just above a near two-week low on Tuesday, after its steepest loss since March in the prior session, but a firm dollar curbed appetite for the precious metal. Spot gold was up 0.1 percent at $1,264.53 an ounce by 1158 GMT, after hitting an early low of $1,259.51, its weakest since April 28. "The drivers that have lifted gold prices still...

  • LONDON, May 10- Gold steadied just above a near two-week low on Tuesday, after its steepest loss since March in the prior session, but a steadier dollar curbed appetite for the precious metal. Spot gold was up 0.2 percent at $1,265.35 an ounce by 0957 GMT, after hitting an early low of $1,259.51, its weakest since April 28. "The drivers that have lifted gold prices still...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed, worrying bankers about its high debt levels and pulling down JSW shares on Tuesday. Mumbai- based JSW Steel unsuccessfully bid in 2014 to buy some assets...

  • *Iron ore in Dalian down more than 4 pct at close. Retail buyers rushed into China's commodities futures in April, hoping a stabilizing economy would boost demand for raw materials, lifting prices and volumes of everything from steel to cotton. China's main commodity exchanges in Dalian, Shanghai and Zhengzhou have since imposed measures to rein in speculative...

  • SHANGHAI, May 10- Russian aluminium giant Rusal warned against Chinese smelters restarting plants to keep from undermining prices that have retreated from 2016 highs as Chinese producers consider launching a fund to deal with the layoffs from closures. China is the world's top consumer and maker of aluminium. Aluminium on the London Metal Exchange was...

  • MANILA, May 10- Gold slipped to a 1-1/ 2- week low on Tuesday, extending steep losses from the prior session as the dollar remained strong, curbing appetite for the precious metal. *Spot gold was off 0.3 percent at $1,260.31 an ounce by 0037 GMT, after hitting an early low of $1,259.51, its weakest since April 28. *Tuesday marked gold's sixth fall out of seven sessions,...

  • SINGAPORE, May 10- Oil prices fell early on Tuesday as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong U.S. dollar weighed on markets. U.S. crude futures were trading at $43.09 per barrel at 0040 GMT, down 35 cents from their last settlement.

  • TORONTO, May 9- Canada's main stock index fell to a nearly four-week low on Monday as lower commodity prices weighed on energy and mining stocks, while financials also fell. The index has fallen 2.9 percent from a recent six-month high of 13,972.62, pressured by a weakening in commodity prices and a wildfire that led to production cuts in Canada's oil sands region.

  • A worker cuts steel billets at an iron and steel enterprise in Ganyu County.

    The dollar's 5-day rally & China growth concerns are making for an ugly day in commodities and commodity stocks.

  • LONDON, May 9- A growing overhang of gasoline and diesel fuelled a sharp sell-off in oil futures on Monday that reversed a recent rally over the wildfires in the heart of Canada's oil sands region, traders and analysts said. While crude oil supplies have significantly tightened in recent weeks due to outages linked to unrest in Libya, militant attacks in Nigeria,...

  • NEW YORK, May 9- Oil prices fell more than 3 percent on Monday after traders took in their stride the impact of wildfires on Canada's oil output and after another inventory build at the U.S. hub for crude futures. Almost all of Canada's crude from oil sands is exported to the United States. Oil prices have rebounded by some two-thirds since hitting 12- year lows of...

  • NEW YORK, May 9- Oil prices fell 2 percent or more on Monday after traders took in their stride the impact of wildfires on Canada's oil output and after another inventory build at the U.S. hub for crude futures. Almost all of Canada's crude from oil sands is exported to the United States. Oil prices have risen more than 70 percent since hitting 12- year lows of around...

  • RIO DE JANEIRO/ BRUSSELS, May 9- Any relief felt by the mining firms BHP Billiton and Vale over what looked like a final $5.7 billion settlement for the cost of last year's dam burst at their Brazilian iron ore mine must have evaporated when state prosecutors scoffed at the deal and last Tuesday filed a $44 billion claim of their own. What is far from clear, however, is...

  • Energy, materials lag

    CNBC’s senior markets commentator Michael Santoli, and Burns McKinney, Allianz Global Investors share their advice on what investors should focus on in this type of market.

  • ULAANBAATAR, May 9- Rio Tinto's long-awaited approval of a $5.3 billion extension for its giant Oyu Tolgoi copper mine is fuelling hopes of a revival at last for Mongolia, battered by a slowdown in neighbouring China that has left it deep in debt. Oyu Tolgoi, one of the world's largest undeveloped copper projects, has been a bellwether for Mongolia since its...

  • Dow up for third day

    CNBC's Bob Pisani looks ahead at the day's market action as stocks edge higher.

  • ULAANBAATAR, May 9- Rio Tinto's long-awaited approval of a $5.3 billion extension for its giant Oyu Tolgoi copper mine is fuelling hopes of a revival at last for Mongolia, battered by a slowdown in neighbouring China that has left it deep in debt. Oyu Tolgoi, one of the world's largest undeveloped copper projects, has been a bellwether for Mongolia since its...

  • *Stainless steel mills unconvinced by China industrial activity. LONDON, May 9- Copper hit its lowest in nearly a month on Monday as weak trade data from top consumer China highlighted poor demand growth prospects and the dollar rose after a Fed official kept rate hike expectations intact. Benchmark copper on the London Metal Exchange was down 1.8 percent at...

  • SHANGHAI/ SINGAPORE, May 9- Chinese commodities dived on Monday, led by 6 percent falls in steel and iron ore futures, as deepening worries about China's demand extended a fortnight of sharp drops and false rebounds in the country's market for industrial metals. Speculative funds rushed into China's commodities futures last month, betting the country's...

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