×

Materials and Metals Metals and Mining

  • JAKARTA, Nov 28- Indonesian state-controlled miner PT Aneka Tambang Tbk may not have the cash flow for downstream investments worth at least $500 million if a ban on nickel ore exports is not eased, its chief executive told Reuters on Monday. Indonesia banned metal ore exports in 2014 to encourage miners to build domestic smelters to shift exports from raw...

  • *Shanghai rebar steel up nearly 90 pct this year. *Shanghai exchange to limit size of positions of non-members. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing intensely pursues capacity cuts,...

  • LAUNCESTON, Australia, Nov 28- Almost unnoticed, Rio Tinto Chief Executive Jean Sebastien Jacques has ushered the China iron ore elephant out of the room. News that Rio has quietly abandoned its long-held view that China's steel output will rise to 1 billion tonnes a year by 2030 wasn't exactly hidden by Jacques, but neither was it highlighted when the new boss of...

  • The red-hot rally in steel is bound to push iron ore above $80 a tonne for the first time since October 2014, having lifted zinc to a nine-year high. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing...

  • MELBOURNE, Nov 28- London Metal Exchange zinc surged to its highest in nine years on Monday and lead hit a five-year peak as a searing rally in metals gained steam on a softer dollar and inflation expectations that pushed investors into commodities. *LME zinc surged by more than 5 percent to $2,970 a tonne, which was its highest since October 2007.

  • DRURIDGE BAY, England, Nov 27- In northeastern England, a battle is raging between grass roots campaigners and a company intent on digging a new open cast mine as world coal prices soar. Some wonder how long the coal price surge will last, but in Northumberland, the Banks Group is pressing ahead with plans for a new mine despite opposition from local...

  • Merkel said Germany, which takes over the G20 presidency next month, would push for a collective solution for the worldwide glut that has dampened steel prices for years and raised tensions between China and other major producers. European and U.S. leaders have pressed China to accelerate capacity cuts, blaming its big exports for slumping prices and accusing...

  • *LME lead surges to highest since February 2013. LONDON, Nov 25- Zinc powered to its highest levels in more than 8-1/ 2 years on Friday on continued fund buying but analysts cautioned that prices were outrunning supply/demand fundamentals. Benchmark LME zinc had climbed to $2,791 a tonne by 1530 GMT, a gain of 2.4 percent and its highest since March 6, 2008.

  • BAMAKO, Nov 25- Mali's government plans to take stakes in the country's two gold refineries by 2018, the minister of industrial development told state radio on Friday, in a move to increase revenues from production in Africa's third-largest gold producer. Mali, which expects to produce 47 tonnes of gold this year, has the capacity to refine nearly 55 tonnes per...

  • *Rio seeks premium of $95/ T while Rusal offers $110/ T. TOKYO, Nov 25- Some big aluminum producers seek a premium of $95- $110 per tonne from Japanese buyers for primary metal shipments in the January to March period, up 27-47 percent from the previous quarter, five sources involved in pricing talks said on Friday. Rio Tinto Ltd has offered Japanese buyers a premium of...

  • LONDON, Nov 25- Zinc powered to its highest levels in more than 8-1/ 2 years on Friday on continued fund buying but analysts cautioned that prices were outrunning supply/demand fundamentals. Benchmark LME zinc climbed as far as $2,791 a tonne, its highest since March 6, 2008, and was up 1.8 percent at $2,774 at 1122 GMT. The most-traded zinc contract on the Shanghai...

  • SYDNEY, Nov 25- London zinc rose more than 1 percent to its highest level in almost nine years on Friday on bets that demand was picking up faster than supply amid a broad-based rally across base metals. The global supply pool of zinc has been contracting as reserves are exhausted at huge mines in Australia, Canada and Ireland. Macquarie Bank calculates that global...

  • Demand for steel much better than expected: Expert

    S&P Global Platts's Annalisa Jeffries talks about a rally in iron ore on the back of higher steel prices.

  • SYDNEY, Nov 25- London zinc rose on Friday, nearing an eight-year high touched in the previous session, on bets that demand was picking up faster than supply amid a broad-based rally across the metals complex. The global supply pool of zinc has been contracting as reserves are exhausted at huge mines in Australia, Canada and Ireland. Macquarie Bank calculates that...

  • KHOBAR, Saudi Arabia, Nov 24- Saudi Arabian Mining Co will ramp up production of phosphate from its new Waad al-Shamal facility by mid-2017, its chief executive said, as the kingdom seeks more cash from non-oil sources. "Wa'ad Al Shamal will have a major impact on the phosphate fertilizer market," said Chris Lawson, Senior Consultant, Head of Phosphate Analysis at CRU...

  • *India's rupee, Turkish lira at record low after rate rise. *Prospects of China, U.S. inflation buoy copper, zinc. *Crude oil little changed amid OPEC meeting uncertainty.

  • *Copper on course for biggest monthly gain since April 2006. LONDON, Nov 24- Zinc prices jumped to their highest in more than eight years on Thursday and copper headed towards its 2016 peak as funds piled in on expectations of stronger demand and tighter supplies. Benchmark zinc on the London Metal Exchange was up 1.8 percent at $2,719 a tonne at 1132 GMT, off an...

  • LONDON, Nov 24- Australia's South32, the mining company spun off from BHP Billiton, in 2015, will avoid buying thermal coal because of uncertainties over demand linked to climate concerns, the company said on Thursday. Forecasters such as the International Energy Agency have predicted that coal demand will peak by the middle of the next decade.

  • Jacques, named five months ago to run the world's second-biggest mining company, said it's now clear China's mandate to rid its skies of pollution by restructuring its state-owned coal industry was behind a tripling of coal prices since January. In April, China's State Administration of Work Safety introduced new coal-production caps, restricting the...

  • Thyssenkrupp cautious on profit; says cost cuts key

    ThyssenKrupp full-year net profit declined by 4 percent, missing expectations amid difficult market conditions. CNBC’s Annette Weisbach reports.