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Business Materials and Metals

  • MELBOURNE, Oct 26- Shanghai aluminum jumped 4 percent to its highest in more than two years on Wednesday, tracking higher coal prices, and a broader reaction to China's steel capacity cuts, along with an improving outlook for the global economy. said analyst Helen Lau of Argonaut Securities in Hong Kong. Shanghai Futures Exchange aluminum was trading up 4.2...

  • MELBOURNE, Oct 26- Shanghai aluminium jumped 4 percent to its highest in more than two years on Wednesday, tracking higher coal prices, and a broader reaction to China's steel capacity cuts, along with an improving outlook for the global economy. said analyst Helen Lau of Argonaut Securities in Hong Kong. Shanghai Futures Exchange aluminium was trading up 4.2...

  • KINSHASA, Oct 26- The U.S.-based Carter Center called on Congo to release the contract for state miner Gecamines' sale, reported by the media, of a 25 percent stake in the Metalkol copper project to a wholly owned subsidiary of Eurasian Resources Group. Bloomberg News reported the sale on Monday of the stake in April to Highwind Properties Ltd, a Eurasian Resources...

  • MELBOURNE, Oct 26- Shanghai aluminum jumped 4 percent to its highest in more than two years on Wednesday, tracking a surge in prices for coal and part of a broader reaction by metals to China's steel capacity cuts and a gradually improving outlook for the global economy. *Shanghai Futures Exchange aluminum was trading up 4 percent at 13,580 yuan a tonne by 0105 GMT,...

  • MELBOURNE, Oct 26- Japanese lenders and a hedge fund have struck a deal to save Australia's Lynas Corp, the only rare earths producer outside China, from collapse, cutting its interest costs and giving it nearly four years breathing room to pay off its debt. State-owned Japan Oil, Gas and Metals National Corp and Sojitz Corp are eager to ensure a supply of rare earths...

  • TORONTO/ VANCOUVER, Oct 25- China's Zijin Mining Group Co Ltd and Shandong Gold Mining Co Ltd have held separate talks with Barrick Gold Corp to buy a 50 percent stake in its Veladero gold mine in Argentina, according to four sources with knowledge of the process. Veladero is one of Barrick's five core mines, which are all in the Americas. A potential sale of a 50...

  • *U.S. stocks off on earnings outlook; UK shares higher. NEW YORK, Oct 25- U.S. stocks slipped on disappointing earnings reports on Tuesday, while U.K shares rose helped by mining firms, and crude oil prices fell as the U.S. dollar hit a seven month high. "We've had some mixed earnings today and the market right now is digesting earnings and positioning itself ahead of the...

  • LONDON, Oct 25- European shares turned lower after a strongly start on Tuesday, with Germany's DAX briefly touching a new peak for 2016, after sentiment was knocked by mixed earnings on Wall Street and in Europe. Germany's DAX ended flat after earlier touching a new peak for 2016 of 10,827.72 points. The German stock market outperformed after Ifo data showed that...

  • BEIJING/ ZURICH, Oct 25- State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its $43 billion bid for Swiss pesticide and seed group Syngenta, a source with direct knowledge of the process said. Bayer and Monsanto have not formally requested EU approval but the European Commission has to...

  • WASHINGTON, Oct 25- The U.S. International Trade Commission on Tuesday voted to lock in duties on imports of welded stainless pressure pipe from India as it affirmed the goods were harming the U.S. industry. The action finalizes provisional duties of up to 13.3 percent set by the Commerce Department after it found India was dumping the pipe in the United States at...

  • TORONTO, Oct 25- Vale SA's Canadian unit will pay a C $1 million fine after pleading guilty to four violations of a workplace safety law in connection with the 2014 death of a worker at a Sudbury, Ontario smelter, the Brazilian miner said on Tuesday. Ontario's government laid charges in March 2015, and Vale pled guilty in a Sudbury court on Monday, the company said.

  • PORT TALBOT, Wales, Oct 25- Port Talbot's loss-making steelworks is enjoying a windfall from a weaker pound, higher steel prices and stringent cost-cutting, but the benefit could be short-lived and not enough to persuade its Indian owners Tata Steel they want to keep it. The fate of the century-old steelworks, Britain's largest, has been up in the air since Tata...

  • Annualized run rates have accelerated by 2.16 million tonnes to 33.48 million over the last two months and China accounted for 55.7 percent of global output in September. These figures, supplied to the International Aluminium Institute by China's Nonferrous Metals Industry Association, come with a health warning, prone as they are to bouts of alarming...

  • Annualised run rates have accelerated by 2.16 million tonnes to 33.48 million over the last two months and China accounted for 55.7 percent of global output in September. These figures, supplied to the International Aluminium Institute by China's Nonferrous Metals Industry Association, come with a health warning, prone as they are to bouts of alarming...

  • The world's biggest publicly listed copper producer, which had a debt of $19 billion as of Sept. 30, unveiled in July a $1.5 billion share issue to help cut its debt and shift focus from its high-profile asset sales plan. Phoenix- based Freeport, which is under pressure from activist investor Carl Icahn, also cut a quarter of jobs in its oil and gas business in April and...

  • Chinese state-owned chemicals company ChemChina is willing to offer more concessions to win EU approval for its $43 billion bid for Swiss pesticide and seed group Syngenta AG, Reuters reported on Tuesday. DuPont also raised its full-year operating earnings forecast to $3.25 per share from its previous range of $3.15- $3.20 per share. Net sales rose...

  • BEIJING/ ZURICH, Oct 25- State-owned Chinese chemicals group ChemChina is ready to offer more concessions to win European Union antitrust approval for its $43 billion bid for Swiss pesticide and seed group Syngenta, a source with direct knowledge of the process said. Bayer and Monsanto have not formally requested EU approval but the European Commission has to...

  • LONDON, Oct 25- Copper prices have rallied from their January lows, but investors looking for further hefty gains may be disappointed as ample supplies are likely to more than offset stronger demand in top consumer China. Fears about demand growth in China, which accounts for nearly half of global consumption estimated at around 22 million tonnes this year,...

  • LONDON, Oct 25- European shares rose on Tuesday, with Germany's DAX briefly touching a new peak for 2016, as gains in major mining companies and solid corporate results at leading blue-chip firms buoyed markets. The pan-European STOXX 600 index was up by 0.3 percent, while Germany's DAX rose 0.6 percent to touch a new peak for 2016 of 10,827.72 points.

  • TOKYO, Oct 25- Surging prices for coking coal will likely drive Japan's top two steel producers to miss their earnings forecasts for this financial year, but will help suppliers of the steelmaking ingredient such as Mitsubishi Corp, analysts said. Spot prices for premium hard coking coal in Australia, which dominates global exports, this week surged to over $245...

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