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Materials and Metals Metals and Mining

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  • SANTIAGO, April 14- The copper market will not get any respite from weak prices and excess supplies any time soon, even after recent hefty cost cutting and project delays have removed more than a million tonnes of new capacity, top executives said on Tuesday. Barclays and CRU both expect China's demand growth to slow to 4 percent this year, off the double-digit...

  • LONDON, April 14- It's that time of year when the copper industry gathers for CESCO Week in Chile to chew the collective fat on what the future holds. In Chile this week the focus will be firmly on supply, inevitably given the structural problems facing operators in what is still the world's largest copper producing nation. But in truth the present confusion is all...

  • *Global production remains high, China's economy seen slowing. LONDON, April 14- Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tensions in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war. Brent crude was up 21 cents at $58.14 a barrel by 1203 GMT, while U.S....

  • BRUSSELS, April 14- European importers of minerals from conflict zones should be forced to certify their goods "blood-free", an influential group of EU lawmakers said on Tuesday, seeking to toughen a proposal to prevent the financing of warlords in Africa. Much of the gold, tantalum, tin and tungsten used in electronics and lighting is mined in areas of civil...

  • COLUMN-U.S. shale boom nears turning point: Kemp Tuesday, 14 Apr 2015 | 5:58 AM ET

    LONDON, April 14- Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Only the Permian Basin is expected to post a small month-on-month increase in output. With the number of rigs drilling for oil in the United States down by almost 53...

  • *Global production remains high, China's economy seen slowing. LONDON, April 14- Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war. Brent crude for May was up 50 cents at $58.43 a barrel by 0815 GMT,...

  • *LME tin breaks below $16,000 T for first time since June 2010. MELBOURNE, April 14- London copper prices snapped key support on Tuesday to fall to a four-week low as souring sentiment over China's economic growth sapped expectations for demand. People are now probably looking to see if Chinese authorities are going to take any more significant measures to...

  • SYDNEY, April 14- Australia's Atlas Iron Ltd on Tuesday said it was holding "positive" discussions with unsecured creditors and was not at risk of defaulting after deciding to cease mining due to low iron ore prices. Atlas, which was scheduled to ship the majority of its projected 13 million tonnes of iron ore this year to China, will cease all exports shortly after...

  • *But global production remains high, China's economy seen slowing. Front-month Brent crude futures were trading up 52 cents a $58.45 a barrel by 0332 GMT, while U.S. crude had risen 63 cents to $52.54. From a fundamental perspective however, supply from the Middle East is expected to remain high, with Saudi Arabia and Iraqi production on the rise, " JP Morgan said in a...

  • *China copper premiums jump $10 to $75- Shmet. MELBOURNE, April 14- London copper prices steadied on Tuesday as investors bet that Beijing would take fresh measures to shore up its economy after surprisingly weak trade data. "The overall picture isn't particularly inspiring in China at the minute, so people are now probably looking to see if Chinese authorities...

  • *Fortescue to move to two-weeks on, one-week off roster. The slump in iron ore to 10- year lows is hammering profits at Fortescue and other producers, forcing deep cuts in spending and prompting a "thorough organisational review" of operations, Chief Executive Nev Power said in a statement. "While we would prefer not to have to change what has been a successful and...

  • MELBOURNE, April 14- London zinc and lead fell on Tuesday, after a chart-based rally was cut short against a backdrop of growing doubts over the outlook for demand in top user China, which also dragged on London copper prices. *Benchmark zinc and lead on the London Metal Exchange dropped 1 percent, after failing to break their 200- day moving averages during London...

  • SINGAPORE, April 14- Crude prices rose on Tuesday after the U.S. Energy Information Administration said it expected U.S. shale oil output to record its first monthly decline in over four years. Front-month Brent crude futures were trading up 34 cents a $58.27 a barrel by 0106 GMT, while U.S. crude had risen 31 cents to $52.22. From a fundamental perspective however,...

  • Big miners hold key to iron ore prices: Pro Monday, 13 Apr 2015 | 6:18 PM ET
    Big miners hold key to iron ore prices: Pro

    Mathew Hodge, resource analyst at Morningstar, says a price recovery in iron ore depends on when big miners like Vale realize the strategy of boosting production is a mistake.

  • NEW YORK, April 13- Oil production from the fastest-growing U.S. shale plays is set to fall some 45,000 barrels per day to 4.98 million bpd in May from April, the first monthly decline in over four years, projections from the U.S. Energy Information Administration showed on Monday. Oil production from the Permian Basin of West Texas and New Mexico were forecast to...

  • Citi analysts call the 'end of the Iron Age' Monday, 13 Apr 2015 | 9:31 AM ET
    Stackers load crushed iron ore onto a stockpile at an ore processing facility in Pilbara, Western Australia.

    Oversupply and a lack of demand growth has led some market analysts to speculate that iron ore prices will never recover to former levels.

  • Alamos Gold, AuRico Gold merging in $1.5B deal Monday, 13 Apr 2015 | 8:21 AM ET
    A mine worker displays a large ingot of gold during the refining process at the Loulo-Gounkoto gold mine complex operated by Randgold Resources Ltd. in Loulo, Mali, Nov. 1, 2013.

    Canadian gold mining companies Alamos Gold and AuRico Gold are merging in a deal valued at approximately $1.5 billion.

  • European equity rally slows after poor Chinese data Monday, 13 Apr 2015 | 7:08 AM ET

    *Miners fall after China data, Citi downgrade. *M&A speculation boosts Nokia, Alcatel. LONDON/ PARIS, April 13- European shares stalled on Monday after a recent rally as poor Chinese trade figures knocked mining shares, although mergers and acquisition activity helped keep pan-European indexes afloat.

  • Time for miners to exit the iron ore business? Monday, 13 Apr 2015 | 2:30 AM ET
    Time for miners to exit the iron ore business?

    Colin Hamilton, global head of commodities research at Macquarie, says iron ore prices need to fall to compensate for oversupply, and warns companies should start exiting the sector.

  • MANILA, April 13- The Philippines is tightening oversight of the roughly 300,000 small-scale miners in the country as it looks to curb illegal mining and gold smuggling, as well as to protect the environment, a government official said on Monday. The Philippines is sitting on mineral reserves worth $1.4 trillion, among the world's biggest, but mining accounts...