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Materials and Metals Metals and Mining

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  • LONDON, March 31- Littlebrook power station, which towers grimly over the lower Thames near Dartford in Kent, ceases operations today after almost 35 years, the last of Britain's big oil-fired power plants to close. Now its closure marks the impact of higher oil prices and EU-wide policies, agreed by Britain's major political parties, to move away from fossil...

  • *Some investors bet Indonesia will relax ore export ban- analyst. LONDON, March 31- Nickel plunged to near a six-year low on Tuesday on worries over record stockpiles, weak demand for stainless steel and growing doubts over the fate of Indonesia's ore export ban that many believed would tighten the market. Nickel prices have nearly halved since hitting two-year...

  • *Gold slips for 3rd session, heads for 2nd monthly fall. *Palladium rebounds from 13- month low. LONDON, March 31- Gold fell on Tuesday and was heading for a third straight quarterly fall, pressured by a strong dollar and expectations the U.S.

  • MELBOURNE, March 31- London nickel tumbled to near six-year lows on Tuesday on the back of momentum selling before cutting losses, but was set to end the month down nearly 10 percent, as record supply and weak stainless steel demand pummelled prices. Nickel prices have nearly halved since hitting two-year highs above $21,000 last May, as an expected supply crunch...

  • ULAN BATOR, March 31- Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5 billion Oyu Tolgoi copper mine, according to an official familiar with the government's position. A spokesman for Rio's Turquoise Hill Resources, which owns 66 percent of the mine, also declined to comment and pointed...

  • *Gold slips for third session in a row, palladium rebounds. SINGAPORE, March 31- Gold edged lower on Tuesday and was heading for a second straight monthly fall, pressured by expectations the U.S. "Gold's inability to hold over the psychological $1,200 level, which it recently cleared, suggests that bullion may be susceptible to a further consolidation of gains," said...

  • RIO DE JANEIRO, March 30- Nippon Steel& Sumitomo Metal Corp said on Monday it had reported Ternium to Brazil's CVM market regulator for transferring to third parties shares in steelmaker Usiminas, which they jointly control, before a vote to elect a new chairman next week. The Japanese steelmaker said Ternium's move was an attempt to influence the vote for a new...

  • March 30- Aluminum maker Alcoa Inc said on Monday it will shut its only remaining smelter in Brazil, the latest victim of a toxic mix of weak metal prices and high energy costs. The closure will cut Brazil's annual production to under 900,000 tonnes even as consumption is expected to grow as South America's largest economy prepares to host the 2016 Olympics.

  • SANTIAGO, March 30- Chile's economy will be hurt by the heavy flooding last week that cut off roads, washed away houses and bridges and forced some mines in the top copper producer to halt operations, the head of its central bank said on Monday. The Atacama region, which was hardest hit by the flooding, is relatively unpopulated, and represents about 2.5 percent of...

  • LONDON, March 30- Gold fell one percent on Monday, down for a second straight session as the dollar climbed on increasing prospects that the Federal Reserve may start raising interest rates gradually this year. "It seems the market is once again focusing on the Fed raising rates," Deutsche Boerse's MNI senior analyst Tony Walters said. Gold, which does not pay any...

  • ZURICH, March 30- Switzerland's Holcim said on Monday it had sold its 27.5 percent stake in Thailand's second-largest cement company Siam City Cement, in deals worth 655 million Swiss francs. Zurich- based Holcim, which plans to merge with France's Lafarge, said 24.9 percent of Siam City Cement was acquired by an affiliate of Hong Kong- based conglomerate Jardine...

  • MELBOURNE, March 30- London nickel slid to its weakest in nearly six years on Thursday, hit by faltering demand for stainless steel and worries that a new tax in Malaysia may push metal into the market. "A weak macroeconomic environment and demand data out of China in combination with worries about the Malaysian tax gave enough ammunition for the shorts to come in,"...

  • MELBOURNE, March 30- London copper steadied on Monday as last week's run up in prices blunted consumer buying, while liquidity thinned ahead of a holiday-shortened week in many countries. Copper prices last week hit their highest in nearly three months at $6,294.50 a tonne. *China's President Xi Jinping said he hoped the country's annual trade with the nations...

  • SINGAPORE, March 30- Gold slipped for a second straight session on Monday, pulling further from a three-week high, after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank may be on course to raise interest rates later this year. *Spot gold was off 0.2 percent at $1,196.98 an ounce by 0036 GMT, after rising for a second week in a row last week.

  • *Southern Copper CEO, Grupo Mexico say Tia Maria going ahead. *Southern Copper shares down 5.6 pct. LIMA, March 27- Conflicting statements about whether Southern Copper Corp would cancel development of its $1.4 billion Tia Maria copper mine in Peru's Arequipa region have battered the company's share price and left investors wondering about the project's...

  • *Lead posts 5 pct monthly gain on China demand. LONDON, March 27- Copper tracked losses in oil and fell to its lowest level of the week on Friday as traders waited for comments from the Federal Reserve, but the metal still clocked up its third straight weekly gain helped by mine closures in key producer Chile. Oil fell as fears about the disruption of Middle East crude...

  • *Gold on track to finish week up around 1.3 percent. *Palladium down 3 percent at 2- month lows. LONDON, March 27- Gold fell on Friday, snapping a seven-day rally as the dollar steadied and investors remained cautious ahead of comments from Federal Reserve Chair Janet Yellen, but the metal still looked set to post its second straight weekly gain.

  • That far outstrips an estimate given late last year of 42-52 tonnes, after Mexican gold and silver miner Fresnillo said it was hedging 47 tonnes of output over five years. In their quarterly Global Hedge Book Analysis, Societe Generale and GFMS analysts at Thomson Reuters said the bulk of the rise in the global gold hedge book last year was driven by Fresnillo and...

  • *Shanghai rebar also hits record low, but cuts losses. SINGAPORE, March 27- Spot iron ore prices hit new record lows on Friday while futures in China and Singapore slid as much as 4 percent before paring losses, on worries that global producers would continue to lift output in a well supplied market. Iron ore prices on China's Dalian Commodity Exchange hit the daily...

  • LONDON, March 27- It's been over a year now since Indonesia imposed its ban on the export of unprocessed minerals. Other resource-rich countries, such as the Democratic Republic of Congo, are traveling the same road but Indonesia is way out in front. The country's two top copper miners, Freeport McMoRan and Newmont Indonesia, have been successfully cajoled into...