Business Materials and Metals

  • *Newcastle coal prices at $70 per tonne, Europe below $60. SINGAPORE, Sept 12- A 40- percent rally since June in prices for Australian thermal coal due to a jump in Chinese imports has pushed its premium over Europe to more than $10, offering miners with easy access to the Atlantic and Pacific basins opportunities for arbitrage. "If you're a Colombian miner, who can...

  • *Newcastle coal prices at $70 per tonne, Europe below $60. SINGAPORE, Sept 12- A 40- percent rally since June in prices for Australian thermal coal due to a jump in Chinese imports has pushed its premium over Europe to more than $10, offering miners with easy access to the Atlantic and Pacific basins opportunities for arbitrage. "If you're a Colombian miner, who can...

  • *China industrial production figures due on Tuesday. MELBOURNE, Sept 12- London copper slipped to its weakest level since late June on Monday after risk aversion roiled wider markets, and investors turn increasingly bearish on the metal given prospects for rising supply. Shanghai Futures Exchange copper slid 1 percent to 36,240 yuan a tonne.

  • MELBOURNE, Sept 12- London copper was stuck near its weakest in two months on Monday as the dollar held gains and as investors turn increasingly bearish on the metal given prospects for rising supply. *Shanghai Futures Exchange copper edged down 0.2 percent to 36,540 yuan a tonne. *Hedge funds and money managers speculators sharply boosted their net short...

  • TORONTO, Sept 9- Lundin Mining could double zinc production at its Neves-Corvo mine in Portugal as a big rally in prices and looming deficit of the metal used to rust-proof steel have created the right conditions for an expansion, its chief executive said. "We hope to go ahead with a positive decision by year-end," CEO Paul Conibear said in an interview, adding that...

  • LONDON, Sept 9- Most industrial metals slipped in thin trade on Friday, weighed by weak oil prices, a stronger dollar and concern about Europe's economy after German exports tumbled, with zinc at its lowest in more than a week. "China has been stabilizing, but now the worries are related to the U.S. and the European manufacturing sector, which is slowing down again," said...

  • LONDON, Sept 9- A steel industry plan to change its pension scheme and allow the sale of Tata's British operations is likely to be scrapped in favor of a fix that avoids a political row, government and industry sources told Reuters. Industrial sources say the favorite outcome would be a joint venture with Thyssenkrupp of Germany, which like Tata in Britain is...

  • LONDON, Sept 9- Most industrial metals slipped in thin trade, weighed by weak oil prices and concern about Europe's economy after German exports tumbled, with zinc at its lowest in more than a week. "China has been stabilizing, but now the worries are related to the U.S. and the European manufacturing sector, which is slowing down again," said Gianclaudio Torlizzi,...

  • LONDON, Sept 9- Most industrial metals slipped on Friday in thin trade, weighed down by weak oil prices and concern about Europe's economy after German exports tumbled, with zinc drifting to the lowest in over a week. "China has been stabilizing, but now the worries are related to the U.S. and the European manufacturing sector, which is slowing down again," said...

  • *Mining generated 67.8 pct of Mongolia's H1 industrial output. ULAANBAATAR, Sept 9- The long-delayed development of Mongolia's giant coal deposit at Tavan Tolgoi in the south Gobi desert is set to be revived as the North Asian country's new government looks for ways to stimulate its crisis-hit economy. Slowing demand for coal and copper, Mongolia's chief...

  • BEIJING, Sept 9- China has reduced its coal production capacity by 150 million tonnes in the first eight months of the year, representing 60 percent of its 2016 target for capacity cuts, state media said on Friday citing the state planner. Any increases would be pulled if prices fall below trigger levels respectively at 460 yuan, 470 yuan and 490 yuan also for as long...

  • *Peru copper output surges, zinc output declines. MELBOURNE, Sept 9- London copper was set to edge higher for a second week on Friday in the wake of the northern hemisphere summer lull, while prices have also been cushioned by a softer dollar. "I'm nibbling on the long side- it's a medium- to long-term view," said chief investment officer Jonathan Barratt of Ayers...

  • LIMA, Sept 8- Peru registered a $484 million trade surplus in July, the country's biggest since December 2013, as copper exports surged 81 percent year-on-year and imports dropped 13 percent, the central bank said on Thursday. July 2016 July 2015 Balance+ $484 mln- $317 mln. Exports $3.245 bln $2.850 bln Imports $2.760 bln $3.167 bln.

  • TORONTO/ MEXICO CITY, Sept 8- Goldcorp Inc has hired Bank of Nova Scotia to lead the sale process for Los Filos, its gold and silver mine in Mexico, according to two sources familiar with the situation, after putting the asset on the block earlier in the summer. David Garofalo, chief executive of the Vancouver- based gold miner, said in late July that Goldcorp was looking...

  • Sept 8- German chemicals and crop pesticides firm Bayer AG is exploring the sale of its dermatology business to push forward its deal with Monsanto Co, Bloomberg reported, citing sources. Bayer is working with JPMorgan Chase& Co on the sale, which could fetch more than 1 billion euros, the report said. The dermatology business could attract interest from existing...

  • VIENNA, Sept 8- Austrian specialty steel maker Voestalpine plans further efficiencies to make sure it hits mid-term targets in a tough trading environment, its chief executive told Reuters. The new program will be for several hundred million euros and focus on improving operations rather than restructuring, Wolfgang Eder said on Thursday.

  • JOHANNESBURG, Sept 8- Growth in South Africa's two key sectors slowed on Thursday, with weak activity renewing fears South Africa may struggle to avoid recession and a downgrade of its debt to junk status by year's end. "The first Q3 South African output data support our view that the rapid growth reported in Q2 is unlikely to be sustained," Africa analyst at Capital...

  • JOHANNESBURG, Sept 8- Growth in South Africa's two key sectors slowed on Thursday, with weak activity renewing fears South Africa may struggle to avoid recession and a downgrade of its debt to junk status by year's end. "The first Q3 South African output data support our view that the rapid growth reported in Q2 is unlikely to be sustained," Africa analyst at Capital...

  • LONDON, Sept 8- What could bring the zinc bull party to an untimely end? They appear to have already started doing so, figures from the International Lead and Zinc Study Group suggesting national output rose by 6 percent in the first half of 2016 after falling by 3 percent last year. How, for example, to square apparently rising Chinese mine production with falling...

  • TOKYO, Sept 8- Takata Corp will take initial bids from seven potential rescuers on Sept. 19, as the Japanese air bag maker at the heart of the auto industry's biggest-ever global recall fights for survival, two people with direct knowledge of the process said. Potential investors, including Japanese chemical maker Daicel Corp, China's Ningbo Joyson Electronic-...

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