Business Materials and Metals

  • *Tata put UK steel ops up for sale this week. FRANKFURT/ DUESSELDORF, April 1- India's Tata Steel and Germany's Thyssenkrupp have been talking about combining their European steel operations, a person aware of the talks said on Friday. German newspaper Rheinische Post reported earlier on Friday that Tata Steel was in advanced talks to buy a stake in...

  • US Steel CEO: Our industry can't compete with level playing field

    Mario Longhi, CEO of U.S. Steel, talks about the state of manufacturing in the U.S. and the steel sector in China.

  • JAKARTA, April 1- Standard Chartered, struggling to recoup a $1 billion loan extended to one of Indonesia's richest men, has hit fresh trouble after a Jakarta court excluded it from a key creditor list and raised doubts over the validity of the underlying deal. The $1 billion loan was made to mining tycoon Samin Tan's coal firm, Borneo Lumbung Energi& Metal Tbk and...

  • *China factory sector growth for first time in 9 months. *China copper smelters look for Q2 treatment hike. Some analysts were cautious, however, about PMI data in China, the world's top metals consumer, accounting for 45 percent of global copper demand.

  • The announcement that India's Tata Steel is abandoning Britain has hammered home the threat to developed countries' steel industries from a glut caused by over-capacity in China, which has led to a collapse in the global price of commodity steel used mainly in construction. Firms from Europe, Japan and South Korea say they are trying to keep afloat by...

  • SYDNEY, April 1- Copper futures were slightly firmer on Friday following an overnight spurt of end-of-quarter selling. *The most-traded copper contract on the Shanghai Futures Exchange rose 0.33 percent to 37,000 yuan a tonne. *Guinea and Burkina Faso plan to take back hundreds of unused mining permits for re-auction, ministers said this week, as governments...

  • LIMA, March 31- Workers at Freeport McMoRan Inc's Cerro Verde mine in Peru plan to go on a 48- hour strike April 8 to protest what they describe as the near disappearance of their profit-sharing bonus this year, the union said Thursday. Freeport has a 53.56 percent stake in the mine, one of Peru's biggest with 32,000 tonnes of reported copper output in January.

  • But the Vancouver- based company does not plan to add a partner before next year, said Chief Executive Officer Leigh Curyer, a former executive with Uranium One Investments Inc. The company estimated on March 3 an initial resource at its Arrow deposit in northern Saskatchewan of 202 million pounds, much larger and higher-grade than expected.

  • March 31- Peabody Energy Corp, the largest U.S. coal producer, said it would lay off about 235 employees at a mine in the Powder River basin, two weeks after the company flagged bankruptcy risk. The reductions affect about 15 percent of the workforce at the North Antelope Rochelle mine in the basin straddling Montana and Wyoming, the company said on Thursday.

  • LONDON/ PORT TALBOT, Wales, March 31- Prime Minister David Cameron said there was no guarantee a buyer could be found for Britain's biggest steel producer after Tata Steel announced it was pulling out, and a state takeover was not the answer. Tata's biggest plant in Port Talbot, south Wales, is losing around $1.4 million a day as a result of depressed steel prices and...

  • March 31- Peabody Energy Corp, the largest U.S. coal producer, said it would lay off about 235 employees at a mine in the Powder River basin, two weeks after the company flagged bankruptcy risk. The reductions affect about 15 percent of the workforce at the North Antelope Rochelle mine in the basin which straddles Montana and Wyoming, the company said on Thursday.

  • *Comes at a time when China facing anti-dumping complaints. BEIJING/ SHANGHAI, March 31- China's top listed steelmaker Baosteel expects output this year to rise about 20 percent, even as the country steps up efforts to slash a huge overcapacity that has boosted cheap exports and caused some producers elsewhere to shut. "Of course China is the epicentre where...

  • LONDON, March 31- British Prime Minister David Cameron will hold an emergency meeting to tackle the crisis hitting the country's steel industry on Thursday after India's Tata Steel said it would pull out, putting thousands of jobs at risk. The move leaves 15,000 workers at plants including the country's largest steel works in Port Talbot, south Wales, facing an...

  • SYDNEY, March 31- Movie making has joined pursuits such as egg farming, the growing of medical marijuana and beauty products as another way for struggling mining companies to weather one of the industry's worst downturns in decades. Artemis this week signed a contract with independent production company Go2Sho Inc to help finance "Tango Down," a military action...

  • Commodities in the last quarter

    CNBC looks back at how commodity markets moved in the last quarter.

  • BEIJING/ SHANGHAI, March 31- China's top listed steelmaker Baoshan Iron and Steel Co. Ltd expects its total output to rise about 20 percent in 2016, even as the country steps up efforts to slash a massive capacity glut amid a rise in anti-dumping complaints. Total steel capacity in China is estimated at around 1.2 billion tonnes and is expected to further...

  • SHANGHAI, March 31- China's top listed steelmaker Baoshan Iron and Steel Co. Ltd said its total output will rise about 20 percent in 2016, even as the government steps up efforts to cut capacity amid a rise in anti-dumping complaints. Total steel capacity in China is currently estimated at around 1.2 billion tonnes and that is expected to further increase this...

  • Australia's economy outlook

    Australia's four big banks actually have very little exposure to the mining sector, says Senior Portfolio Manager with Aurora Funds Management

  • Bullish on Gold

    Expect the Fed to keep policy easy as global growth is set to slow, building a bullish case for gold, says Rosland Capital's Jeffrey Nichols.

  • *Shedding UK could enable Tata Europe-Thyssenkrupp merger. Since the multi-billion-euro takeovers of Europe's Arcelor and Corus by Indian giants Mittal and Tata in 2006 and 2007, dealmaking in Europe's steel industry has been all but paralysed as cash-starved producers battled the global economic crisis and a slowdown in China that encouraged it to...

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