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  • Glencore to cut 500,000 T of global zinc output, jobs Thursday, 8 Oct 2015 | 7:25 PM ET

    MELBOURNE, Oct 9- Commodities giant Glencore said on Friday it will cut 500,000 tonnes of global zinc production, around one third of its annual zinc output, due to low prices. "Glencore is announcing today a 500,000 tonne reduction of contained zinc metal mine production across its operations in Australia, South America and Kazakhstan," the company said in a...

  • NEW YORK, Oct 8- Alcoa lowered its forecast for the 2015 global aluminum surplus to 551,000 tonnes from its second-quarter estimate for a 762,000- tonne surplus, the company said in a presentation to announce its third-quarter financial results on Thursday. The decline in the expected 2015 surplus came as Alcoa lowered the amount of new smelting capacity it...

  • Alcoa shares fall after big earnings miss Thursday, 8 Oct 2015 | 5:04 PM ET
    Aluminum rods displaying the Alcoa logo

    CEO Klaus Kleinfeld said the results show the importance of Alcoa's upcoming split into upstream and value-add businesses.

  • NEW YORK, Oct 8- Alcoa lowered its forecast for the 2015 global aluminum surplus to 551,000 tonnes from its second-quarter estimate for a 762,000- tonne surplus, the company said in a presentation to announce its third-quarter financial results on Thursday. The decline in the expected 2015 surplus came as Alcoa lowered the amount of new smelting capacity it...

  • UPDATE 1-Alcoa profit misses as aluminum prices slide Thursday, 8 Oct 2015 | 4:34 PM ET

    Oct 8- Alcoa Inc reported a smaller-than-expected quarterly profit, hurt by a slide in aluminum prices that has prompted the company to separate the smelting operations from the faster-growing plane and car parts business. Alcoa's shares fell 4.3 percent in extended trading. Net income attributable to Alcoa fell to $44 million, or 2 cents per share, in the third...

  • LONDON, Oct 8- Copper prices slid on Thursday, under pressure from fund selling as worries about slowing demand growth in China outweighed falling stocks and output cuts. Benchmark copper on the London Metal Exchange closed at $5,135 a tonne, losing one percent as fund selling picked up following the end of a week-long holiday in China. "Anything that supports the...

  • BRUSSELS Oct 8- Oil markets have priced in nearly all the potential impact of the shale oil boom in the years ahead and energy-importing countries will only record a relatively small boost to their economies from low crude prices, a study published by the European Central Bank showed. The price impact of any further increase in shale supply is seen at less than...

  • Oct 8- U.S. energy and mining company Freeport-McMoRan Inc said on Thursday it has been assured by the government of Indonesia that the mining contract for its giant Grasberg copper and gold mine will be extended beyond 2021.. The pledge, coming after extended negotiations, is a positive development for Phoenix, Arizona- based Freeport, which is under pressure...

  • Oct 8- Energy and mining company Freeport-McMoRan Inc said the government of Indonesia has assured the company's local unit that it will approve the extension of operations beyond 2021.. The government is working on economic stimulus measures, including revisions to mining regulations, Freeport said. Freeport mines copper, gold and silver in the Grasberg...

  • *Copper dips as China demand worries weigh, funds shift positions. LONDON, Oct 8- Copper slid on Thursday, pressured by fund selling as worries about slowing demand growth in China outweighed falling stocks and output cuts. China and other emerging economies are major export markets for Germany.

  • PRECIOUS-Gold, silver slide as China returns from holiday Wednesday, 7 Oct 2015 | 11:55 PM ET

    *Gold slips from near-two-week high. SINGAPORE, Oct 8- Gold fell from near-two-week highs and silver slumped 3 percent on Thursday, as Chinese investors sold the precious metals to take profits on return from a week-long holiday. Gold gained $30 an ounce during China's holiday between Oct. 1 and Oct. 7, while silver gained about $1.50 in the same period, as the dollar...

  • LONDON, Oct 7- German copper producer Aurubis has just rung the bell on the start of the "mating season", the annual negotiation of term contracts for shipments in the following year. Aurubis' preemptive move will raise expectations of a similar-sized reduction in the annual premium from Chile's Codelco, the world's largest producer. Its European premium has been...

  • France urged to end coal projects in Turkey Wednesday, 7 Oct 2015 | 9:18 AM ET

    LONDON, Oct 7- Environmental lobby groups on Wednesday urged French President Francois Hollande to force state-owned utility Engie to stop investing in coal projects in Turkey. Engie, in partnership with the Turkish company Mimag-Sanko, plans to build the Ada Yumurtalik 1,320- megawatt coal plant in the south of Turkey. "We strongly urge you to act to cancel...

  • *Copper mkt to swing to small 130,000 T deficit in 2016- ICSG. LONDON, Oct 7- Copper hit a two-week high on Wednesday, driven by rising oil prices and an industry group's forecast for a deficit of the metal next year, although the overall demand outlook remained weak. The International Monetary Fund cut its global growth forecasts for a second time this year on...

  • MELBOURNE, Oct 7- London copper climbed in thin trade on Wednesday as the end to a week of holidays in top consumer China neared, and an industry group revised its expectations from a surplus next year to a small deficit. A string of output cuts at copper miners in the past few months has provided fragile support for metals prices beaten down by sluggish demand...

  • Hedge funds suffer worst month since October 2008 Tuesday, 6 Oct 2015 | 11:49 PM ET
    Daniel Loeb, founder and CEO of Third Point LLC.

    Hedge funds have suffered their biggest monthly monetary loss since the 2008 financial crisis due to market turbulence, the FT reports.

  • MELBOURNE, Oct 7- London copper marked time on Wednesday as the end to a week of holidays in top consumer China neared, while an industry group revised its expectations from a surplus next year to a small deficit, lending support to prices. *U.S. exports took a hit from an ailing global economy in August and imports from China surged, fueling the largest expansion of...

  • Oct 6- Bankrupt miner Patriot Coal Corp, which is in the midst of auctioning off its assets, has issued a new WARN notice to its employees. Patriot Coal expects to lay off more than 2,000 workers in West Virginia, the Associated Press reported Tuesday. The new WARN notice from Patriot Coal extended the period from the original WARN notice issued on Aug. 3, 2015, because...

  • MOSCOW/ LONDON Oct 6- Mining company Norilsk Nickel is selling the first large Russian Eurobond in almost a year, raising $1 billion on Tuesday in a deal that could suggest a revival in investors' interest towards Russian companies. It snapped in further from final yield guidance of 6.75 percent while order books from investors exceeded $4 billion, Thomson...

  • Oct 6- Freeport-McMoRan Inc, under pressure from activist shareholder Carl Icahn and weak commodity prices, said on Tuesday it is slashing its board size and exploring a return to its roots as a copper-focused mining company. Splitting up the company "is definitely what shareholders want," said Adrian Day, chief executive of Maryland- based Adrian Day Asset...