Business Materials and Metals

  • Weakening fundamentals along with strong measures by Chinese exchanges to stamp out speculative activity have helped reverse momentum in China's massive commodity futures markets from bullish to bearish in less than a month. Malaysian palm oil futures, the global benchmark for the commodity, fell more than 2 percent on Friday, with traders blaming a 4...

  • Weakening fundamentals along with strong measures by Chinese exchanges to stamp out speculative activity have helped reverse momentum in China's massive commodity futures markets from bullish to bearish in less than a month. Malaysian palm oil futures, the global benchmark for the commodity, fell more than 2 percent on Friday, with traders blaming a 4...

  • LIMA, May 12- Index provider MSCI Inc on Thursday announced it will keep Southern Copper Corp in its Peru group rather than moving it to its U.S. securities index, a move that will likely boost Lima's bourse. MSCI is scheduled to decide whether to move Peru to its higher-risk frontier market index on June 14. Southern Copper, which is incorporated in the United States...

  • LIMA, May 12- Index provider MSCI Inc on Thursday announced it will keep Southern Copper Corp in its Peru group rather than moving it to its U.S. securities index, a move that will likely boost Lima's bourse. MSCI is scheduled to decide on whether to move Peru to its higher-risk frontier market index on June 14. Southern Copper, a mining company incorporated in the...

  • The documents, which included a report that said glyphosate is not likely to be carcinogenic to humans, were posted by the EPA on April 29 and taken down from a website the government agency manages on May 2. The letter, sent from the agriculture committee of the U.S. House of Representatives, marks the latest salvo in an ongoing debate over the EPA's role and...

  • Monsanto shares rallied as much as 12 percent on Thursday on new reports that Bayer AG and BASF SE were interested in the St. Louis- based company, highlighting the drive for more marriages in the sector. Bloomberg News reported Bayer was exploring a bid for Monsanto, while financial news website Street Insider reported that BASF was looking at a Monsanto...

  • BOGOTA, May 12- Colombia's government needs to offer more protection to mining companies who are being threatened by leftist rebels and criminal gangs in control of illegal mines, the country's mining association said on Thursday. "Illegal mining has taken advantage of us," Santiago Angel, the president of the Colombian Mining Association, said in a press...

  • The fire that blazed through oil sands hub Fort McMurray, forcing the evacuation of about 90,000 people last week, has moved into sparsely populated woodlands further east. Nexen's Long Lake facility, located south of the community known as Fort Mac, sustained minor damage in the yard from the fire, Alberta officials said this week. Alberta holds the world's...

  • The fire that blazed through oil sands hub Fort McMurray, forcing the evacuation of about 90,000 people last week, has moved into sparsely populated woodlands further east. Nexen's Long Lake facility, located south of the community known as Fort Mac, sustained minor damage in the yard from the fire, Alberta officials said this week. Alberta holds the world's...

  • 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.

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