Materials and Metals Metals and Mining

More

  • *China markets closed for Lunar New Year, to reopen Monday. LONDON, Feb 10- Copper slid to a two-week low on Wednesday, pressured by a stronger dollar as Federal Reserve Chair Janet Yellen pointed to the prospect for further gradual adjustments to monetary policy. She cited global risks such as falling stock prices and uncertainty over China, but said there was good...

  • NEW YORK, Feb 10- The U.S. Supreme Court's decision to block federal regulations to curb carbon dioxide emissions failed to give a sustained boost to shares of the long-battered coal sector on Wednesday. After initially trading higher, Consol Energy Inc stock slipped 2.3 percent, and Peabody Energy Corp fell 0.9 percent. The states, led by coal producer West...

  • TORONTO, Feb 10- Canada's main stock index rose on Wednesday as financial stocks clawed back some losses from the start of the week, offsetting energy and mining stocks that slid as crude oil prices fell. Federal Reserve Chair Janet Yellen said conditions in the United States would allow the U.S. central bank to pursue "gradual" adjustments to monetary policy.

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • NEW YORK, Feb 10- Long-battered shares of coal companies jumped on Wednesday after the U.S. Supreme Court put on hold federal regulations to curb carbon dioxide emissions mainly from coal-fired power plants. The court's 5-4 ruling on Tuesday delivered a major blow to President Barack Obama, by blocking the centerpiece of his administration's strategy to...

  • LONDON, Feb 10- U.S. shale oil production will double over the next 20 years as drillers that became more efficient amid a slump in oil prices unlock new resources, British energy giant BP said on Wednesday. The sector, with relatively expensive production costs, has nevertheless been hard hit by a 70 percent decline in oil prices over the past 18 months to around $30...

  • VIENNA, Feb 10- Austria's Voestalpine expects duties on cheap imports to take the pressure off Europe's steel industry this year following its worst downturn in about a decade. European steel companies are struggling to cope with sharp price falls and growing overcapacity as China and Russia are accused of exporting massive quantities at artificially low...

  • *China markets closed for New Year break; to reopen Monday. LONDON, Feb 10- Copper hit a two-week low on Wednesday on persistent worries over global growth, and as traders awaited testimony from Federal Reserve Chair Janet Yellen for clues on the outlook for the dollar. "I expect Yellen to sound a bit more dovish but to keep the door open for rate hikes, which means are...

  • *China markets closed for new year break; to reopen Monday. MELBOURNE, Feb 10- London copper slipped on Wednesday towards its lowest level in a fortnight as holidays in top consumer China entered a third day, dampening demand, while global growth fears dragged on prices. European finance ministers will call on the Group of 20 biggest world economies at the end of...

  • Banks leading European markets in negative spiral

    CNBC's Simon Hobbs reports on how European banks are leading the tumble in markets, what the ECB may do to deposit rates, and the end of rally for mining.

  • *Recommendation linked to payment of 5 pct export tax. JAKARTA, Feb 9- Indonesia's mining ministry on Tuesday recommended that Freeport McMoRan Inc receive a new six-month copper export permit, potentially ending a near two-week stoppage after the previous permit expired last month. Freeport was forced to halt overseas shipments from one of the world's...

  • *Looks set to retest $1,200 an ounce. The precious metal saw some profit taking in early trade after failing to push through key psychological resistance at $1,200 an ounce, but picked up after U.S. markets opened and looked set to retest the $1,200 level. If we can reach $1,200 and hold above it that would probably set the scene to go higher, "said David Govett, head of...

  • *Q4 adjusted operating profit 17.6 mln euros, down 31 pct. *Analysts in Reuters poll expected 24.5 mln euros. HELSINKI, Feb 9- Finnish mining technology company Outotec missed fourth-quarter earnings forecasts and warned that demand from miners would weaken further this year, sending its shares down 20 percent on Tuesday.

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • HELSINKI, Feb 9- Finnish mining technology company Outotec missed quarterly earnings forecasts on Tuesday and did not propose a dividend, warning demand from miners would weaken further this year. Outotec is struggling as miners have cut spending due to low metal prices, and recent uncertainty regarding China's growth prospects has further hit its business,...

  • *Thin liquidity in Asia with China on week-long holiday. MANILA, Feb 9- Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.. Tuesday would mark gold's eighth straight day of gains as investors sought safe havens in the face of...

  • Operations at U.S. Steel

    Metals prices may have outperformed oil over the past 20 months, but that's unlikely to continue, with metals set to keep dropping, Goldman Sachs said.

  • *Coming Up: Germany Industrial output Dec 0700 GMT. MELBOURNE, Feb 9- London copper steadied on Tuesday, underpinned by a weaker dollar as worries over bank solvencies spilled over from global stock markets, and turnover was extremely low as traders waited for the return of top consumer China next week. "There are a lot of people who have come back in 2016 and are...

  • *Thin liquidity in Asia with China on week-long holiday. MANILA, Feb 9- Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.. Tuesday would mark gold's eighth straight day of gains as investors seek safe havens in the face of instability...

  • *Asia trade insurers wary over China, India metals firms. *Coming Up: Germany Industrial output Dec 0700 GMT. MELBOURNE, Feb 9- London copper drifted on Tuesday after worries over bank solvencies spilled over from global stock markets, and turnover was extremely low as traders waited for the return of top consumer China next week for fresh signals on demand.