Materials and Metals Metals and Mining

  • *China wants to be recognised as a "market economy". BRUSSELS, May 27- The European Commission and China may be near a deal to avoid a dispute at the World Trade Organization and a wider trade war, diplomats say, but must convince EU lawmakers angry over record Chinese steel output. Chinese envoys have signalled they could live with the dual approach, which is designed...

  • *China zinc output down 2.5 pct in April. *Coming up: speech by Fed's Janet Yellen at 1715 GMT. "We've seen some more short covering and book squaring, I think that's been the main driver ahead of the long weekend and the options declaration," said Robin Bhar, head of metals research at Societe Generale in London.

  • *Anglo American focused on De Beers after overhaul. BENGALURU/ BRUSSELS, May 27- Anglo American Plc's De Beers named insider Bruce Cleaver as chief executive of the diamond group, which the global mining company is counting on to help revive its fortunes. However, producers are seeing scope for recovery, especially in the United States, which accounts for some 45...

  • TOKYO/ ISE-SHIMA, JAPAN, May 27- Leaders of the Group of Seven pledged on Friday to tackle a global glut in steel, though their statement did not single out China, which produces half of the world's steel and is blamed by many countries for flooding markets with cheap steel. While not included in the text, China was brought up in the discussions among leaders of the G7...

  • WASHINGTON/ SHANGHAI, May 27- U.S. regulators on Thursday launched an investigation into complaints by United States Steel Corp that Chinese competitors stole its secrets and fixed prices, in the latest trade spat between the two countries. Steel, in its complaint under section 337 of the main U.S. tariff law, is seeking to halt nearly all imports from China's...

  • MELBOURNE, May 27- London copper fell on Friday, hit by expectations that a likely U.S. interest rate rise in the next two months will boost the dollar, as prices headed for their worst month in half a year. The People's Bank of China will keep policy slightly loose to support the economy, which still faces downward pressure, the China Business News said on Thursday,...

  • MANILA, May 27- Producers that returned to China's steel market after a price rally earlier this year may be forced to run below capacity as demand weakens for the rest of 2016, Goldman Sachs said. "Too many blast furnaces have been reheated, and excess steel production is driving a modest restocking at a time when inventories are usually drawn down," Goldman...

  • MELBOURNE, May 27- London copper fell on Friday, dragged lower by expectations that a likely U.S. interest rate rise in the next two months will boost the dollar, although the metal remained on track for its first weekly gain in four. *Shanghai Futures Exchange copper dropped 0.4 percent to 35,700 yuan a tonne. *The People's Bank of China will keep policy slightly...

  • SHANGHAI, May 27- China resolutely opposes a probe by the U.S. International Trade Commission into complaints of trade secret thefts by Chinese steel companies and will encourage its firms to legally defend themselves, China's commerce ministry said on Friday. Citing unnamed officials from the ministry, the statement on the Ministry of Commerce's website...

  • *Brent breaches $50 first for time since Nov, WTI since Oct. NEW YORK, May 26- Oil prices hit $50 a barrel on Thursday for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add to the global glut. Wildfires in Canada's oil sands, unrest in the Nigerian and...

  • TORONTO, May 26- Canada's main stock index rose to a fresh nine-month high on Thursday as mining stocks rallied, while stronger-than-expected earnings from the country's biggest bank by market value helped financials edge higher. Canada's two largest lenders reported an increase in bad loans to oil and gas firms as low crude prices hurt energy sector...

  • LONDON, May 26- Gold rose on Thursday, moving away from a seven-week low hit in the previous session, as the dollar extended losses after the release of U.S. economic data. Spot gold rose 0.1 percent to $1,224.96 an ounce by 1414 GMT. The metal had fallen to its lowest since April 6 at $1,217.25 on Wednesday.

  • ROXBY DOWNS, Australia, May 27- A vast copper and uranium lode in Australia's parched outback, global miner BHP Billiton's Olympic Dam was long emblematic of the industry's boom year projects: complex, ambitious and- until 2012- slated for a $20 billion expansion. Like its rivals, BHP is still betting on copper, and the ore under Olympic Dam's red desert sand is key to...

  • LONDON, May 26- Britain's government said on Thursday it had started discussions on overhauling the deficit-laden British Steel Pension Scheme, a major stumbling block for potential buyers of Tata Steel's UK assets. With serious offers now on the table for Tata Steel UK, Britain's government is racing against time to find a way to put the company's British...

  • The price of spot iron ore is now back at $49.90 per tonne, compared with an April 21 peak of $68.70, when the speculative frenzy was at its most acute. Indeed, the animal spirits behind the price spikes may well have transferred irrational exuberance to China's giant steel sector, which is showing every sign of once again producing too much relative to demand.

  • MONROVIA, May 25- A grand jury in Liberia has indicted government officials, including the speaker of parliament and the head of the ruling party, along with London AIM-listed Sable Mining on charges including bribery. In a statement released on Thursday, Sable Mining said it had noted "the recent media comment and speculation regarding allegations of bribery...

  • China is making too much steel: IHS analyst

    Jason Kaplan, head of commodities analysis at IHS, discusses the steel industry and the headaches being caused by cheap Chinese steel.

  • WASHINGTON, May 25- Corrosion-resistant steel from China will face final U.S. anti-dumping and anti-subsidy duties of up to 450 percent under the U.S. Commerce Department's latest clampdown on a glut of steel imports, the agency said on Wednesday. The department also issued anti-dumping duties of 3 percent to 92 percent on producers of corrosion-resistant...

  • MELBOURNE, May 26- London copper edged higher for a third session on Thursday as a softer dollar lent support, but traders said prices could fall as factory demand from top user China slows ahead of summer. *Three-month copper on the London Metal Exchange traded up 0.1 percent at $4,659 a tonne by 0027 GMT following gains of 1.1 percent in the previous session.

  • MONROVIA, May 25- A grand jury in Liberia on Wednesday indicted government officials, including the speaker of parliament and the head of the ruling party, along with London AIM-listed Sable Mining on charges including bribery. President Ellen Johnson Sirleaf ordered an inquiry into Sable's acquisition of an iron ore concession in northern Liberia after the...