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Business Materials and Metals

  • JAKARTA, Sept 8- Indonesia's mining ministry is scrambling to find a way around a deadline on mineral processing that could prevent some miners, including U.S. copper mining giant Freeport-McMoRan Inc, from exporting minerals from the country from 2017.. Uncertainty over Indonesia's mining rules have been a flashpoint between miners and the government for...

  • Anglo American, Glencore and Freeport have been at the forefront of those companies trying to sell, but BHP Billiton and Rio Tinto have also been seeking to rationalise their assets while signalling an interest in acquisitions. Slower growth in China triggered the slide in the prices of raw materials, and Chinese companies are among the potential buyers of...

  • *China January-August iron ore imports up 9.3 percent. Sept 8- China's steel exports fell to the lowest in six months in August amid stronger domestic prices, offering relief to rivals overseas angered by a flood of cheap Chinese products. Exports of steel products from China, a sore topic with global trade partners, fell to 9.01 million tonnes in August from 10.3...

  • Sept 2- Hundreds of banana farmers from Central America and South America will again have their day in court, after a U.S. appeals court on Friday revived six lawsuits accusing several big fruit and chemical companies of sickening them with a toxic pesticide. By an 11-0 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia revived claims by 228 farmers from...

  • An employee works at a steel factory in Dalian, Liaoning Province, China, July 4, 2016.

    Investors are watching for clues on China's economic transition. There's one industry they watch more than any other.

  • KINSHASA, Sept 7- The Democratic Republic of Congo's state mining company Gecamines said on Wednesday it has submitted an offer to buy Freeport McMoRan Inc's majority stake in the Tenke copper project. Freeport agreed in May to sell its 56 percent stake in Tenke, one of the world's largest copper mines, to China Molybdenum Co Ltd for $2.65 billion.

  • *China to ramp up fiscal support for metals. *Malaysia extends bauxite mining ban until year-end. MELBOURNE, Sept 7- London copper rose to its highest in two weeks on Wednesday as disappointing U.S. economic data pushed the dollar lower, spurring demand for commodities.

  • SHANGHAI, Sept 7- Dongbei Special Steel Group Co Ltd, the steelmaker whose default in March helped spark a sharp correction in Chinese onshore corporate debt, said it is unable to make a timely payment on another bond. The firm, owned by the Liaoning provincial government, has already defaulted on multiple bonds in 2016. In July, Investors holding around 2.2 billion...

  • *Malaysia extends moratorium to Dec. 31, fom Sept. 14. KUALA LUMPUR, Sept 7- Malaysia extended a moratorium on bauxite mining to the end of the year, from Sept. 14, and said the government could stretch the ban by another six months if the current high stockpiles of the aluminum-making commodity were not cleared by Dec. 31. Malaysia's largely unregulated bauxite mining...

  • LONDON, Sept 7- The backgrounds of the leaders of the world's top mining companies illustrate the choice facing investors, with BHP Billiton's chief executive having worked in the oil industry and Rio Tinto's new boss more focused on copper. French-born Jean-Sebastien Jacques has led Rio only since July, while his counterpart at BHP, Scotsman Andrew Mackenzie,...

  • *China to ramp up fiscal support for metals. *Coming Up: Germany Industrial output for July at 0600 GMT. MELBOURNE, Sept 7- London copper rose to the highest in two weeks on Wednesday as a falling dollar spurred demand for commodities given fading prospects of a U.S. interest rate hike in September.

  • MELBOURNE, Sept 7- London copper rose half a percent on Wednesday as the dollar fell after a soft services report out of the U.S. dimmed the prospect of a rate hike in September. *Shanghai Futures Exchange copper edged up 0.1 percent to 36,560 yuan a tonne. *London- listed Antofagasta Plc's ANTO.L Antucoya copper mine reached its full monthly production capacity of...

  • LONDON, Sept 6- When G20 leaders met in the Chinese city of Hangzhou this week, they did so under, if not quite blue skies, at least smog-free skies. And although Beijing has committed to eliminating a very large amount of steel capacity, 150 million tonnes over a five-year period, it is highly unlikely to stem the flow of steel products into the rest of the world.

  • *China, India, Vietnam, Indonesia cut back. OSLO, Sept 7- The amount of coal-fired power generation under development worldwide has shrunk by 14 percent this year, driven down by China as it struggles with oversupply and tries to promote cleaner energy, a study showed on Wednesday. China had the biggest drop in its pre-construction pipeline by far, of 114 GW to a total...

  • TORONTO, Sept 6- Canada's benchmark stock index edged higher on Tuesday as higher gold prices supported mining stocks, while news of an acquisition boosted shares of the country's largest pipeline company. The small gain for the Toronto Stock Exchange's S&P/TSX composite index follows a 1.1 percent advance last week, the biggest weekly gain since mid-July.

  • LONDON, Sept 6- When G20 leaders met in the Chinese city of Hangzhou this week, they did so under, if not quite blue skies, at least smog-free skies. And although Beijing has committed to eliminating a very large amount of steel capacity, 150 million tonnes over a five-year period, it is highly unlikely to stem the flow of steel products into the rest of the world.

  • *Says is prepared to offer $127.50 per share, up from $125. FRANKFURT/ NEW YORK, Sept 5- German pharmaceutical and crop chemicals manufacturer Bayer AG says talks with Monsanto Co have advanced and it is now willing to offer more than $65 billion, a 2 percent increase on its previous offer for the world's largest seeds company. Bayer now says it is prepared to offer...

  • *Signs of a small pick up in China copper demand- StanChart. *JP Morgan sees copper avg at $4,400 in Q3 on oversupply. MELBOURNE, Sept 6- London copper hovered above a two-month low on Tuesday as signs of a modest pick up in demand were countered by concerns of oversupply from a flood of inventory into exchange stockpiles.

  • *Japan buyers looking to purchase more aluminium in spot markets. TOKYO, Sept 6- Japanese aluminium buyers are looking to crimp the amount of the metal they purchase via annual contracts, instead turning to spot markets where premiums have in recent months dropped to their lowest in over seven years amid a persistent supply glut. Most aluminium buying by Asia's...

  • *Japan buyers looking to purchase more aluminum in spot markets. TOKYO, Sept 6- Japanese aluminum buyers are looking to crimp the amount of the metal they purchase via annual contracts, instead turning to spot markets where premiums have in recent months dropped to their lowest in over seven years amid a persistent supply glut. Most aluminum buying by Asia's...

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