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Business Materials and Metals

  • ZURICH, Oct 18- One of Europe's most bitter takeover battles is set to enter a key stage soon when a court rules if the founding family of Swiss chemicals maker Sika can sell control to French rival Saint-Gobain. Investors see the ruling, due by the end of this year, as a test of minority shareholders' rights in Switzerland. The takeover battle began in 2014 when...

  • LONDON, Oct 18- Zinc, copper and other industrial metals prices rose on Tuesday, boosted by strong credit data in top metals consumer China and a weaker dollar. The new yuan loans hit the highest level since June, so that's helped to lift sentiment, "said Xiao Fu, head of commodity market strategy at Bank of China International in London. "Zinc appears to have seen stops...

  • LONDON, Oct 18- The U.S. shale oil industry can maintain flat output if oil prices stay at $50 per barrel, but a price of $60- $80 per barrel is needed to invest in long-cycle projects such as deep-water, the chief executive of oil firm Hess Corp said. "Because of operational efficiencies and productivity the industry needs $50 to hold shale production flat...

  • SINGAPORE, Oct 18- Australian thermal coal spot prices have hit $100 per tonne for the first time since 2012, with a cargo ordered at that price for delivery from Newcastle port in November, according to trading platform GLOBALcoal on Tuesday. The price rally ended half a decade of steady declines, and has lifted mining share prices like Whitehaven Coal, Glencore...

  • *Man Maw pit in territory controlled by United Wa State Army. Much of it comes from the Man Maw mine deep inside the self-proclaimed "Wa State", a secretive, China- dominated statelet the size of Belgium controlled by Myanmar's most powerful ethnic armed group, the 30,000- strong United Wa State Army. Reuters was the first media organization to visit the mine, tucked...

  • SINGAPORE, Oct 18- Australian thermal coal spot prices have hit $100 per tonne for the first time since 2012, with a cargo ordered at that price for delivery from Newcastle port in November, according to trading platform GLOBALcoal on Tuesday. The price rally ended half a decade of steady declines, and has lifted mining share prices like Whitehaven Coal, Glencore...

  • JAKARTA, Oct 18- The current rally in thermal coal prices could extend through to the end of the first quarter of 2017, an Indonesian mining ministry official said on Tuesday, helping cash-strapped miners boost revenues in Southeast Asia's largest economy. Indonesia, where thousands of coal mines went out of business as prices cratered, is now confident of...

  • *Nanshan Aluminium, Hongqaio Group seen as possible acquirers. MELBOURNE, Oct 17- China's giant aluminium makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies. Zhongwang USA LLC, backed by Chinese aluminium...

  • *Nanshan Aluminium, Hongqaio Group seen as possible acquirers. MELBOURNE, Oct 17- China's giant aluminum makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies. Zhongwang USA LLC, backed by Chinese aluminum...

  • Oct 17- Canadian miner Yamana Gold said on Monday it plans to spin off its Brio Gold subsidiary, which owns non-core gold mining properties in Brazil, as a standalone public company to its shareholders. The Toronto- based producer said a spin-off would allow it to "better focus on its portfolio of six, soon to be seven, producing mines in top mining jurisdictions and...

  • *Hope for OPEC cut, but oversupply concerns weigh. NEW YORK, Oct 17- Oil prices settled down on Monday, weighed by oversupply concerns, with a spike in trade volume driving U.S prices below $50, but losses were limited amid a projected drop in American shale output. International benchmark Brent crude fell 43 cents, or 0.8 percent, from the last settlement to close at...

  • The $26- billion all-stock deal combines Potash's crop nutrient production capacity, the world's largest, with Agrium's farm retail network, North America's biggest. Potash executives would collect payments of $24.7 million and Agrium executives would get $20.4 million to compensate them for a change in control of the companies, ISS said.

  • Oct 17- Investor advisory company Institutional Shareholder Services has recommended that investors in fertilizer producers Agrium Inc and Potash Corp of Saskatchewan support a merger of the companies. The decision was distributed to ISS clients on Friday and sent to media on Monday. The combination would create a company with significant leverage, ISS...

  • *Beijing said to be orchestrating chemicals mega-merger. HONG KONG, Oct 17- A possible merger with fellow Chinese state-owned group Sinochem could bring welcome relief to debt-laden chemicals giant ChemChina as it looks to wrap up its $43.5 billion acquisition of Swiss-based seeds company Syngenta. Led by its chairman Ren Jianxin, a dynamic entrepreneur in...

  • Benchmark aluminum on the London Metal was down 1.4 percent at $1,652 a tonne at 0920 GMT from an earlier $1,647, its lowest since Sept 28. China accounts for more than half of global aluminum production estimated this year at around 58 million tonnes. "Production of primary aluminum is coming back in China.

  • SINGAPORE, Oct 17- The liquefied natural gas sector has watched with joy how thermal coal prices have soared this year, hoping that the unexpected spike would at last make LNG price competitive in Asia. Despite an over 90 percent coal price rally to almost $100 a tonne, and even with relatively low LNG prices of $6.50 per million British thermal units, versus $20 per...

  • *Nanshan Aluminium, Hongqaio Group seen as possible acquirers. MELBOURNE, Oct 17- China's giant aluminum makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies. Zhongwang USA LLC, backed by Chinese aluminum...

  • *Nanshan Aluminium, Hongqaio Group seen as possible acquirers. MELBOURNE, Oct 17- China's giant aluminium makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies. Zhongwang USA LLC, backed by Chinese aluminium...

  • BEIJING, Oct 17- Sinochem International Corp, a unit of state-owned Sinochem Group, said on Monday it has received no information regarding a proposed merger of its parent company with rival ChemChina. "Until now, this company's controlling company Sinochem Group and controlling shareholder Sinochem Group nor this firm have received any written or oral...

  • MELBOURNE, Oct 17- London copper held above a one-month low on Monday after remarks by the Federal Reserve chair suggested the U.S. central bank may stick with loose monetary policy for longer, which shored up investor appetite for commodities. *Three-month copper on the London Metal Exchange edged up by 0.3 percent to $4,689.50 a tonne by 0106 GMT, having dropped...

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