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  • Under the supply deal, Europe's largest zinc smelter will ship physical zinc to Trafigura over three years, in return for a prepayment of $150 million, Nyrstar Chief Executive Bill Scotting said in an interview with Bloomberg. A spokesman for Nyrstar confirmed the Bloomberg story. A spokeswoman for Trafigura also confirmed the $150 million prepayment, but...

  • LONDON, Feb 5- Even as millions of barrels of oil are pumped at a loss at current prices, only a fraction of the production has been shut, industry research group Wood Mackenzie said on Friday. Just 100,000 bpd out of the 96.1 million bpd of oil pumped worldwide have been closed so far since the price plunge, most of it in Canada's oil sands, conventional U.S. projects and...

  • BRUSSELS, Feb 5- ArcelorMittal, the world's largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. The company, twice the size of its nearest rival, reported that its core profit dropped by 32 percent last year to $5.2...

  • BRUSSELS, Feb 5- The European Union's top trade official has urged China to take measures to curb overcapacity of its steel industry and warned it that it will open three new anti-dumping investigations this month on steel imports from China. The call comes as the European Union begins a debate into whether to relax trade defences against China as Beijing...

  • TOKYO, Feb 5- Plunging commodity prices are expected to drive losses of around $13 billion on assets held by Japanese trading houses, oil refineries and steelmakers in the current financial year, dealing another blow to a government push to reignite growth. The expected total losses of about 1.54 trillion yen break down to roughly 760 billion yen for oil...

  • MELBOURNE, Feb 5- London copper fell on Friday, but was set for a third consecutive week of gains as signs of stabilisation in the market and a weaker dollar convinced traders to close short positions ahead of Lunar New Year holidays next week in China. "In the past few days, dollar weakness has certainly supported the copper price," said analyst Helen Lau at Argonaut...

  • MILAN, Feb 5- European shares opened slightly higher on Friday although investors remained cautious before a key U.S. jobs report that could provide clues on the Federal Reserve's monetary policy outlook. BNP Paribas was among the top gainers, up 4 percent, after France's biggest bank presented plans to cut investment banking costs in a bid to bolster...

  • MELBOURNE, Feb 5- London copper was slightly softer on Friday but targeting a third consecutive week of gains as signs of stabilisation in the market convinced traders to shut positions ahead of next week's holiday in China. *Three-month copper on the London Metal Exchange edged down 0.3 percent to $4,675 a tonne by 0131 GMT, paring 1.1 percent gains in the...

  • ULAN BATOR, Feb 4- Canada's Centerra Gold Inc has received the go-ahead from lawmakers in Mongolia to mine the Gatsuurt deposit after a five-year delay, as that resource-rich country looks to bolster its economic activity and gold reserves. Mongolia's once-booming economy has taken a steep slide, with the Asian Development Bank estimating 2015 growth at less...

  • Metals will go lower: Pro Thursday, 4 Feb 2016 | 2:52 PM ET
    Metals will go lower: Pro

    Discussing what factors are taking the metals higher, and when to buy, with David Seaburg, Cowen & Co., and Larry McDonald, Societe Generale.

  • NEW YORK/ LONDON, Feb 4- Gold rose for a second day on Thursday, hitting three-month highs as the dollar continued to ease amid mounting doubts that the U.S. "The market is fetishizing bad news and convincing itself that the Fed will never be able to hike again," director of base and precious metals trading for BMO Capital Markets in New York. Spot gold was up more than 1...

  • What sparked a pop in Freeport McMoRan Thursday, 4 Feb 2016 | 12:29 PM ET
    What sparked a pop in Freeport McMoRan

    CNBC Contributor Josh Brown explains the catalysts behind the recent rise in Freeport McMoRan's shares.

  • Weak dollar pummels European markets Thursday, 4 Feb 2016 | 11:30 AM ET
    Weak dollar pummels European markets

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including how the weak U.S. dollar has hurt European mining and materials stocks.

  • Too soon for gold bulls to start pawing the ground? Thursday, 4 Feb 2016 | 10:09 AM ET

    LONDON, Feb 4- Gold bulls are starting to rear their heads with the price of the precious metal hitting three-month highs, but their optimism could be premature due to uncertainty over U.S. interest rates. Spot gold hit $1,155.30 an ounce on Thursday, its highest since Oct. 29 on buying triggered by a tumbling dollar after weak U.S. data and on perceptions that U.S....

  • *Coming Up: U.S. Factory orders Dec at 1500 GMT. Metals were buoyant as investors scrambled to close out bearish positions before the Lunar New Year holiday in China. Three-month benchmark zinc on the London Metal Exchange surged to a peak of $1,725.50 a tonne, the highest since Oct. 29, before paring gains to $1,707 by 1140 GMT, a rise of 0.7 percent.

  • HOUSTON, Feb 3- The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking will only slow further as 2016 drags on. A 70 percent drop in crude prices since mid-2014 has affected not only National Oilwell Varco but dozens of others...

  • HOUSTON, Feb 3- The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking will only slow more as 2016 drags on. A 70 percent drop in crude prices since mid-2014 has affected not only NOV but dozens of others throughout North...

  • Lawmakers seek $1 billion for struggling coal states Wednesday, 3 Feb 2016 | 2:53 PM ET

    Hal Rogers, chairman of the House Appropriations Committee and one of the bill's sponsors, said the measure has bipartisan support and was crafted with help from the White House. The $1 billion taken from the Abandoned Mine Reclamation Fund would be used for economic development— tourism, infrastructure, new business— on or near sites that have been deemed...

  • Some 50 million tonnes of excess steel capacity was shut last year in China, which produces about half the world's 1.6 billion tonnes of steel, and whose major steelmakers lost 53.1 billion yuan from January to November.. China steel rebar prices have gained 1.7 percent this year to 1,826 yuan a tonne following the cutbacks. Outside China, another 20 millions...

  • NEW DELHI/ MANILA, Feb 3- State-run Indian company KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from trade sanctions. Companies such as KIOCL and aluminium maker NALCO, which is considering setting up a $2...