Business Materials and Metals

  • ISM- New York index July at 1345 GMT. LONDON, Aug 2- Copper prices steadied on Tuesday as surveys of manufacturers around the world indicating slow activity dampened sentiment and a softer dollar triggered fund buying. British manufacturers slammed on the brakes last month after the Brexit vote and growth eased in the euro zone, surveys indicated, with factories...

  • MELBOURNE, Aug 2- London copper was stuck in the summer doldrums on Tuesday after a glimmer of an improvement at smaller Chinese factories in July was offset by modest reports on global manufacturing elsewhere, dampening optimism over demand. Growth eased in the euro zone last month, with factories in China, Japan and elsewhere in Asia offering only crumbs of...

  • *Sluggish growth in China's manufacturing sector. LONDON, Aug 1- Copper prices retreated after hitting one-week highs on Monday as the dollar rose, U.S. factory activity slowed and data from China's manufacturing sector indicated sluggish growth. Activity in China's manufacturing sector eased unexpectedly in July as orders cooled and flooding disrupted...

  • LONDON, Aug 1- Copper prices touched a one-week high on Monday after data from China's manufacturing sector indicating sluggish growth raised hopes of further economic stimulus, though a firmer dollar is expected to limit gains. Benchmark copper on the London Metal Exchange was up 0.2 percent at $4,934 a tonne at 1003 GMT. Activity in China's manufacturing...

  • MELBOURNE, Aug 1- London copper rose to a more than one-week high on Monday after a report showed that activity picked up at China's small-to-medium size factories in July, but which also tempered the case for further stimulus. China's manufacturing activity expanded for the first time in 17 months in July as output and new orders increased for smaller and...

  • SHANGHAI, July 30- The European Commission's imposition of heavy anti-dumping duties on Chinese steel bars is "unjustifiable protection for the EU steel industry," the official Xinhua news agency reported, citing a statement from the Ministry of Commerce. China's steel industry, swamped in overcapacity yet a major employer, has struggled to meet capacity...

  • Bayer lost an attempt to continue sales of flubendiamide, marketed in the United States as Belt, after the EPA earlier found that it posed risks to the environment. An EPA board, however, ruled that farmers and retailers will be allowed to use their existing supplies of the chemical, Bayer said in a statement. The EPA could not be reached for comment after normal...

  • TOKYO, July 29- Japanese steelmakers boosted output over April to June, with top producer Nippon Steel& Sumitomo Metal posting its first such rise since 2014 on improved prices, but their annual profits are expected to be eroded as a firm yen hurts key customers. Higher Japanese output, at a time when the world's biggest producer China is also churning out record...

  • *China expected to release weaker official PMI on Sunday. LONDON, July 29- Nickel fell on Friday as funds and traders squaring their books reversed bets on higher prices and the market fretted about whether the recent rally based on worries about supplies from the Philippines had been overdone. NPI production in China has been picking up since the February lows,...

  • *Net debt falls to $12.7 billion. BRUSSELS, July 29- ArcelorMittal, the world's largest producer of steel, said improving steel prices and increased volumes had boosted its results in the second quarter, sending its shares up some 5 percent to their highest in nearly a year. The group kept its outlook for global apparent steel consumption, taking into account...

  • *China expected to release weaker official PMI on Sunday. MELBOURNE, July 29- London nickel fell on Friday but was still on track for gains of more than 11 percent in July as the Philippines cracks down on polluting mines, while copper was set for a modest monthly rise. Local nickel ore producers are the biggest suppliers to China for stainless steel production.

  • MELBOURNE, July 29- London nickel fell on Friday but was still on track for more than 12 percent gains in July as the Philippines cracks down on polluting mines, while copper was set for a modest monthly gain. *Shanghai Futures Exchange copper rose 0.7 percent to 37,970 yuan a tonne. *Philippine President Rodrigo Duterte, who began a six-year term on June 30, has warned...

  • TORONTO/ VANCOUVER July 28- Gold bullion prices have increased 26 percent this year, but the world's biggest gold miners are paring costs and selling assets to lower debt despite the windfall rather than boosting spending. "They're still, by and large, in cost-cutting mode and hunkering down, even though conditions have improved over the last five or six months,"...

  • SAO PAULO, July 28- Brazil's state-run oil company Petroleo Brasileiro SA said in a statement on Thursday it is in exclusive talks for 60 days with Mexico's Alpek over the potential sale of PetroquimicaSuape and Citepe assets in Brazil's northeast. Mexico's Alpek is the petrochemicals unit of Mexican conglomerate Alfa. Petrobras, as Brazil's state oil...

  • Potash will cut its quarterly dividend to 10 cents per share from 25 cents. Its shares were down 7 percent in New York and Toronto, and the U.S.-listed stock touched a low of $15.84. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold its Potash position in June.

  • HOUSTON, July 28- Improved fracking techniques have helped cut Pioneer Natural Resources Co's production costs in the Permian Basin to about $2 a barrel, low enough to compete with oil rival Saudi Arabia, CEO Scott Sheffield said on Thursday. The comments from Sheffield, who is retiring soon, were perhaps the most concrete sign yet that the fittest U.S. shale oil...

  • July 28- Cameco Corp, the world's No.2 uranium producer, reported a surprise quarterly loss due to weak uranium demand and prices, sending its shares down 7 percent to touching a nearly 12- year low of C $12.87. The company reported a net loss attributable to shareholders of C $137 million, or 35 Canadian cents per share, for the quarter ended June 30.

  • The company said on Thursday that it had realized $90 million of its full-year cost savings target of $300 million in the second quarter. The merger is being scrutinized by regulators in the United States and Europe, and the companies have offered concessions in a bid to allay EU antitrust concerns. "No discussion we have had with the European Commission takes us...

  • Potash plans to cut its quarterly dividend to 10 cents per share from 25 cents. Its shares fell 4.7 percent in New York and Toronto, and the U.S.-listed stock touched a two-week low of $16.32, down 40 percent in the past 12 months. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold...

  • RIO DE JANEIRO, July 28- Brazilian mining company Vale SA said on Thursday that second-quarter net income fell 34 percent as provisions for potential losses from the burst dam at its Samarco subsidiary and higher taxes undermined productivity gains. Net sales which is minus taxes also fell 5 percent to $6.63 billion as the average cost of iron ore for delivery...

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