Materials and Metals Metals and Mining

More

  • 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...

  • Lift-off: Luxembourg’s asteroid mining plan Wednesday, 3 Feb 2016 | 6:30 AM ET
    Asteroid

    Asteroid mining looks one step closer to reality after Luxembourg announced plans Wednesday to help the fledgling industry get into orbit.

  • LONDON, Feb 3- The crisis in the British steel industry risks becoming a "death spiral", according to Angela Eagle, business spokeswoman for the country's opposition Labour Party. Of the top 10 national producers only one, India, raised production last year, according to the World Steel Association. In Europe, debate is raging about whether to grant China market...

  • 2016: The year of the ‘asset picker’? Wednesday, 3 Feb 2016 | 4:06 AM ET
    2016: The year of the ‘asset picker’?

    LNG Capital CEO and CIO, Louis Gargour, discusses which companies could perform well in the stock markets over 2016, with specific reference to mining stocks.

  • *China mortgage incentives to shore up commodities demand. MELBOURNE, Feb 3- London copper climbed on Wednesday, edging back towards a four-week high struck in the previous session, buoyed by positive news out of top metals user China and as traders continued to shut out short positions ahead of an upcoming holiday. "The relaxation on mortgage down payment for...

  • MELBOURNE, Feb 3- London copper eased on Wednesday from its highest in four weeks struck in the previous session, as a flurry of pre-holiday short covering flickered out. *Three-month copper on the London Metal Exchange had slipped 0.6 percent to $4,523 a tonne by 0120 GMT, having closed a tad softer the session before, when prices surged to $4,628 a tonne, the most...

  • LONDON, Feb 2- Copper hit a four-week high on Tuesday as bets on lower prices were reversed ahead of a Chinese holiday, but prices slipped later in the day as focus returned to oversupply and weak demand growth in top consumer China. Benchmark copper on the London Metal Exchange was down 0.7 percent to $4,529 a tonne at 1527 GMT. The metal used in power and...

  • U.S. zinc producer Horsehead files for bankruptcy Tuesday, 2 Feb 2016 | 10:37 AM ET

    WILMINGTON, Del., Feb 2- Horsehead Holding Corp, a large U.S. zinc producer, filed for Chapter 11 bankruptcy on Tuesday due to a slump in metals prices and a shortage of cash. The Pittsburgh- based company is the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. Commodity prices have...

  • LONDON, Feb 2- Copper prices hit a four-week high on Tuesday as traders reversed bets on lower prices ahead of the Lunar New Year and sentiment was boosted by expectations of further supply cuts to offset slowing demand in top consumer China. Benchmark copper on the London Metal Exchange was up 0.9 percent at $4,601 a tonne at 0954 GMT. China starts a week-long...

  • MELBOURNE/ BEIJING, Feb 2- China plans to boost its crackdown on illegal mining of rare earths by setting up a system to certify the origin of supplies of the materials, used in everything from fighter jets to mobile phones. Illegal Chinese output and smuggling have helped drag global rare earth prices to their lowest in around six years, hitting legitimate...

  • MELBOURNE, Feb 2- London copper hit a four week top on Tuesday on technical buying as traders wound up positions ahead of the Lunar New Year, and after a steadier tone in China stocks and currency markets soothed concerns about the country's economy. Chinese shares ended higher on Tuesday, and the country's central bank guided the yuan to its highest daily fix in...

  • MELBOURNE, Feb 2- London copper edged lower on Tuesday after China's factory growth slowed sharply in January, but solid Chinese imports of the metal in December have sparked confidence that prices are finding a floor. But the China data that we saw earlier in the month including imports, seemed to provide a base for confidence for the bulls, "said analyst Daniel...

  • MELBOURNE, Feb 2- London copper was treading water on Tuesday after China's factory growth slowed sharply in January, but solid Chinese imports of the metal in December have sparked confidence that prices are finding a floor. *Shanghai Futures Exchange copper was steady at 35,610 yuan a tonne. *China's manufacturing activity contracted at its fastest pace in...