×

Business Materials and Metals

  • LONDON, Oct 12- Gold rose on Wednesday as the dollar steadied though analysts said the likelihood of higher U.S. rates later this year was likely to keep prices under pressure, while oversupply pushed platinum to its lowest since April. Spot platinum fell to $937.25 earlier, its lowest since touching $936.81 on April 6, before rising 0.1 percent to $946.20 an ounce...

  • *Philippines struggling to maintain exports anyway. LONDON, Oct 12- Nickel's rally is expected to be sustained by robust demand from China's stainless steel mills, a significant factor behind recent price gains which many think are mainly due to worries about supplies from the Philippines. Benchmark nickel is up more than 40 percent since hitting a 12- year low...

  • ABUJA, Oct 12- Nigeria's government is in advanced talks with its sovereign wealth fund and stock exchange to create a $500 million exploration fund and corporate mining bonds to attract investment, its mining minister said. The OPEC member has made boosting the mining sector a priority as a slump in crude sales, which provide 70 percent of government revenues,...

  • LONDON, Oct 12- Copper prices rose on Wednesday as London Metal Exchange inventories fell to a three-week low and oil climbed, although dollar strength ahead of the release of the Federal Reserve's latest minutes kept a recovery in base metals in check. Three-month copper on the London Metal Exchange was at $4,822.50 a tonne at 0955 GMT, up 0.2 percent.

  • LONDON, Oct 12- Gold rose on Wednesday as the dollar steadied though analysts said the likelihood of higher U.S. rates later this year was likely to keep prices under pressure, while oversupply pushed platinum to its lowest since April. Spot platinum was up 0.6 percent at $950.4 an ounce at 0957 GMT after falling to $939.60 earlier, its lowest since touching...

  • BEIJING, Oct 12- China Construction Bank Corp will conduct a debt-to-equity swap with Yunnan Tin Group, the world's biggest tin producer and exporter, to cut debt and financing costs, the official Xinhua News Agency reported on Wednesday. Yunnan Tin agreement is the second debt-to-equity swap deal this week by CCB, which has also set up a 24 billion yuan...

  • BEIJING, Oct 12- China Construction Bank Corp will conduct a debt-to-equity swap with Yunnan Tin Group, the world's biggest tin producer and exporter, to cut debt and financing costs, the official Xinhua News Agency reported on Wednesday. Yunnan Tin agreement is the second debt-to-equity swap deal this week by CCB, which has also set up a 24 billion yuan...

  • MELBOURNE, Oct 12- London zinc partly recovered on Wednesday after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummeled zinc prices in Shanghai. One of Peru's top copper and zinc mines, Antamina, will likely double its zinc output to between 340,000 tonnes and 360,000 tonnes next year...

  • *Singapore traders say offered credit by BOCI, ICBC. MELBOURNE, Oct 12- Chinese banks are stepping up lending to midsize metals traders in Singapore, pushing into a gap in the market as U.S. regulations and fading appetite for risk drive Western rivals to focus on larger commodity merchants, metals industry sources said. Three executives at medium-sized metals...

  • *China overtakes Japan as biggest importer. *India, Southeast Asia see booming demand. Production of LPG, known better as propane or butane, has traditionally been dominated by the Middle East, while Japan has been the biggest buyer, where it is used largely as a petrochemical feedstock.

  • Will Alcoa's spin-off strategy work?

    Stronger construction figures in China could give Alcoa's downstream spin-off, Arconic, a boost, says S&P Global Platts's Annalisa Jeffries.

  • TOKYO, Oct 12- Japan Bank for International Cooperation, a major backer of mining and energy projects for Japanese companies, said it will be cautious on lending to the resources sector despite a rally in commodity prices this year. The development bank lends to projects from shale oil and gas developments in the United States to solar farms in Jordan and has more...

  • MELBOURNE, Oct 12- London zinc partly recovered on Wednesday after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummeled zinc prices in Shanghai. Zinc is up by 40 percent this year, "said Vivek Dhar of Commonwealth Bank in Australia, adding that the supply boost would take some of the heat...

  • Are Alcoa's earnings a cause for concern?

    Jason Hall, editor at The Motley Fool, talks about the outlook for Alcoa shares and whether Arconic makes for a good buy.

  • Expect more volatility before, after election: Expert

    Price Headley, president of BigTrends.com, says that he's cautious on the markets because of greater volatility ahead of the election.

  • SHANGHAI, Oct 12- China Construction Bank Corp will establish a 24 billion yuan transformation and development fund with Wuhan Iron and Steel Group Corp to help the steel firm reduce leverage, the bank said on its website. Although the statement released on Tuesday did not explicitly mention debt-to-equity swaps, a separate article published Wednesday by...

  • MELBOURNE, Oct 12- London zinc partly recovered on Wednesday after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummelled zinc prices in Shanghai. *Shanghai Futures Exchange zinc cut early 2.5 percent losses to 2.1 percent, trimming the year's gains to 41 percent.

  • *Spot gold was steady at $1,253.20 an ounce by 0052 GMT. Federal Reserve should engineer monetary policy to spur inflation to rise above its two-percent target because the costs of doing so are less than in past decades, Chicago Federal Reserve Bank President Charles Evans said on Tuesday. *Bank of England policymaker Michael Saunders said on Tuesday he would...

  • LONDON, Oct 11- Global steel demand will rise by a meager 0.2 percent this year, according to the World Steel Association. The improvement is all about China, where production and demand have been lifted by the government's latest stimulus package, another push of the infrastructure and construction buttons. Stainless steel production rebounded strongly in...

  • Markets expected too much from Alcoa: Analyst

    Alcoa made significant productivity gains but markets were concerned with management's guidance downgrade, says Fat Prophets' David Lennox.

Contact Materials and Metals

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    Get these newsletters delivered to your inbox, and more info about about our products and service. Privacy Policy.