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Materials and Metals Metals and Mining

  • MELBOURNE, July 27- London copper on Thursday hovered near two-year highs touched in the previous session, supported by a weaker dollar and the potential for tighter scrap supply into China. *LONDON COPPER: London Metal Exchange copper had edged up 0.2 percent to $6,340 a tonne by 0207 GMT. *CHINA SCRAP METAL: China may ban imports of some scrap metal, including...

  • TORONTO _ New Gold Inc. on Wednesday reported second-quarter net income of $23.1 million, after reporting a loss in the same period a year earlier. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • BRASILIA/ RIO DE JANEIRO, July 26- Mining reforms decreed by Brazilian President Michel Temer are likely to pass Congress, a legislative leader told Reuters on Wednesday, despite opposition from an industry trade group. The mining reforms must be approved by Congress within 90 days to take permanent effect. Deputies were unlikely to oppose the measures since 65...

  • TORONTO _ Barrick Gold Corp. on Wednesday reported second-quarter profit of $1.08 billion. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share. Barrick Gold shares have climbed nearly 2 percent since the beginning of the year.

  • Acacia, of which Barrick owns 63.9 percent, is caught up in sweeping changes to Tanzania's mining industry spearheaded by President John Magufuli, who believes the East African country is not getting its fair share of profits from the sector. Barrick's chairman John Thornton met Tanzania's president in mid-June and they agreed to hold discussions to resolve...

  • July 26- Barrick Gold Corp, the world's largest gold miner by production, reported better-than-expected second-quarter earnings on Wednesday and said it would begin discussions with the government of Tanzania next week about an export ban. Toronto- based Barrick said adjusted net earnings rose to $261 million, or 22 cents a share, from $158 million, or 14 cents a...

  • AT&T Inc., up $1.81 to $38.03. US Steel Corp., up $1.76 to $26.20. Boeing Co., up $20.99 to $233.45.

  • Copper in production, pouring down

    The price of copper shot up more than 2 percent in trading Wednesday.

  • LONDON, July 26- Copper prices rose for a fourth day on Wednesday to the highest in more than two years on expectations of strong economic growth in China and news of Chinese restrictions on scrap imports that would increase demand for imported refined copper. CHINA SCRAP BAN: Traders said prices rose on news that China could ban imports of some scrap metal,...

  • *New CEO Jan Jenisch to start six weeks early. ZURICH, July 26- LafargeHolcim, the world's largest cement maker, cut its forecast for global demand on Wednesday citing weakness in Southeast Asia and Nigeria but said it remained on course to hit its 2017 profit targets. LafargeHolcim's more cautious view runs counter to upbeat forecasts by the International...

  • LONDON, July 26- Copper prices rose for a fourth day on Wednesday to the highest in more than two years on expectations of strong economic growth in China and news of Chinese restrictions on scrap imports that would increase demand for imported refined copper. CHINA SCRAP BAN: Traders said prices rose on news that China could ban imports of some scrap metal,...

  • BEIJING/ MELBOURNE, July 26- China may ban imports of some scrap metal, including copper, from the end of 2018, according to an industry association notice, which may lead to higher refined copper imports into the world's largest consumer of the metal. The review of copper scrap imports is part of a broader crackdown by China authorities on imports of foreign waste...

  • Japan aluminum exports to U.S. make up about 10 pct of total. *Japan also concerned about China's surplus aluminum capacity. "Direct impact to Japan may be limited given the small portion of its exports that go to the U.S. market, but a possible battle among many other nations to exclude imports would be the biggest threat to free trade," Mitsuru Okada, the new chairman...

  • Japan aluminium exports to U.S. make up about 10 pct of total. *Japan also concerned about China's surplus aluminium capacity. "Direct impact to Japan may be limited given the small portion of its exports that go to the U.S. market, but a possible battle among many other nations to exclude imports would be the biggest threat to free trade," Mitsuru Okada, the new...

  • JAKARTA, July 26- Indonesia is closer to a deal with Freeport McMoRan Inc on its long-term future in the country, but key issues still need to be resolved before the U.S. miner gets a new operating permit for its huge copper mine, a mining ministry official said. Shares of the world's biggest publicly traded copper miner jumped to a 16- month high on Tuesday after...

  • BEIJING/ MELBOURNE, July 26- China may ban imports of some scrap metal, including copper, from the end of 2018, according to an industry association notice, which may lead to higher refined copper imports into the world's largest consumer of the metal. "The market is reacting to the news about China banning scrap cables, scrap motor and other scrap metals from the end...

  • ZURICH, July 26- LafargeHolcim posted slightly better-than-expected second-quarter results and brought forward the start date for its new CEO as the world's biggest cement maker sought to put a scandal over payments to armed groups in Syria behind it. "We would like to have Jan Jenisch as quickly as possible and he agreed to advance the date," Chairman Beat Hess,...

  • MELBOURNE, July 26- London copper climbed to its highest in more than two years on Wednesday, buoyed by a weaker dollar and talk that China's appetite for refined metal could grow if it curbs scrap imports. Expectations that China could look at banning some imports of copper scrap from the end of 2018 fueled the rally in copper prices, said analyst Dan Morgan of UBS...

  • *Nigeria agrees to join push to rein in output. SINGAPORE, July 26- Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production shows signs of slowing. The market has been buoyed by Saudi Arabia's announcement at a meeting of the Organization of the...

  • MELBOURNE, July 26- London copper climbed on Wednesday to its highest in two years, as momentum from a weaker dollar and hopes that China will further ease its monetary policy helped fuel chart-based buys. * "Fundamentals are fine, but not that vigorous to fuel such a rally," said a source at a China smelter. *Shanghai Futures Exchange copper rallied to its highest in...