Materials and Metals Metals and Mining

  • *Q2 underlying EBIT NOK 1.62 bln vs poll NOK 1.42 bln. OSLO, July 21- Strengthening Chinese demand led Norsk Hydro, one of the world's largest aluminum producers, to raise its forecast for global aluminum demand growth this year to 4-5 percent as it reported forecast-beating earnings on Thursday. But prices have recovered somewhat recently: LME benchmark...

  • *Q2 underlying EBIT NOK 1.62 bln vs poll NOK 1.42 bln. OSLO, July 21- Strengthening Chinese demand led Norsk Hydro, one of the world's largest aluminium producers, to raise its forecast for global aluminium demand growth this year to 4-5 percent as it reported forecast-beating earnings on Thursday. But prices have recovered somewhat recently: LME benchmark...

  • *China copper imports up 19.7 pct in June, exports up 192.4 pct. MELBOURNE, July 21- London copper rose towards $5000 a tonne on Thursday, finding some support as the dollar eased from a four-month high, and after China's copper imports remained solid in June. Price gains across metals this year, ranging from a 6- percent rise in copper to a 40- percent surge in zinc, have...

  • *Coming Up: Breakdown of China commodity imports. MELBOURNE, July 21- London copper edged higher on Thursday, finding some support as the dollar eased from four-month highs and ahead of a breakdown of China trade data is expected to offer more insight into its commodity demand. Price gains across metals this year, ranging from copper, up nearly 6 percent, to zinc, up...

  • BENGALURU, July 21- Gold hit a three-week low on Thursday, after falling more than 1 percent in the previous session, as equities rose and with investors eyeing a European Central Bank meeting later in the day amid rising expectations rise for a U.S. interest rate hike. *Spot gold fell 0.3 percent at $1,311.83 an ounce at 0057 GMT. The bank will announce its rate...

  • Also rising at a fast clip, though, is speculative interest on both the London and Shanghai markets. Market open interest on the Shanghai Futures Exchange is surging, while speculative length in the LME is rapidly approaching those May 2015 peaks. Investors have got sucked into the zinc market before, most recently in May last year, when the London price peaked at...

  • That compared with $131 million, or 26 cents a share, in the same period a year ago and was well ahead of analysts' expectations, on average, of 29 cents a share, according to Thomson Reuters I/B/E/S. It's a deep beat relative to our numbers and the street, " BMO Capital Markets analyst Andrew Kaip said. Newmont, which has mines in the Americas, Africa, Australia and Asia...

  • SYDNEY, July 20- Ken Brinsden rode Australia's iron ore boom up and then down as head of Atlas Iron. Tesla Corp said in May it plans to build 500,000 new electric cars a year by 2018 and lithium will be the key element in that expansion. Far East Capital fund manager Warwick Grigor likens Australian lithium stocks to a "crapshoot" and a "casino for uneducated investors.

  • MEXICO CITY, July 20- Canadian mining company Agnico Eagle said on Wednesday that a group of armed men stormed one of its mines in northern Mexico early on Tuesday morning, injuring a security guard and making off with a haul of silver and gold. Agnico Sonora, the company's Mexican subsidiary, did not provide an estimate of the value of the theft, but said the La India...

  • The U.S.-based miner said adjusted income rose to $231 million, or 44 cents a share, in the quarter to end-June from $131 million, or 26 cents a share, in the same period a year ago. Newmont's stock rose to $40.20 after hours from a $39.29 close. Newmont, which has mines in the Americas, Africa, Australia and Asia lowered its forecast for all-in sustaining costs- the gold...

  • *China copper output rose 7.6 pct to 4 mln T in H1 2016. LONDON, July 20- Copper and aluminum slipped on Wednesday as the dollar surged to a four-month high, with copper investors also growing cautious about signs of rising supply. Three-month copper on the London Metal Exchange closed down 0.4 percent at $4,966 a tonne while aluminum slid 1.3 percent to finish at...

  • *China copper output rose 7.6 pct to 4 mln T in H1 2016. LONDON, July 20- Copper and aluminium slipped on Wednesday as the dollar surged to a four-month high, with copper investors also growing cautious about signs of rising supply. Three-month copper on the London Metal Exchange closed down 0.4 percent at $4,966 a tonne while aluminium slid 1.3 percent to finish at...

  • *But Anglo American leads mining stocks lower. LONDON, July 20- European shares advanced on Wednesday, with the technology sector leading the market higher after SAP and ASML reported forecast-beating quarterly results. Shares in SAP, Europe's largest software company, surged 5.7 percent as unexpectedly strong growth in high-margin packaged software...

  • *FTSE 100 rises 0.5 pct to 6,728.99 points. LONDON, July 20- Britain's top shares index climbed to its highest closing level in 11 months on Wednesday, boosted by a rise in insurance stocks, although a slump in Anglo American pushed down the mining sector. While the FTSE 100 has managed to recover from an initial slump after the Brexit vote, the hit to sterling has...

  • LONDON, July 20- Global crude steel production was unchanged in June from the same month last year, as higher output in top producer China was offset by falls elsewhere, figures from the World Steel Association showed on Wednesday. China, which produces about half the world's steel, has been ramping up output since March as rising prices and improved demand...

  • Also rising at a fast clip, though, is speculative interest on both the London and Shanghai markets. Market open interest on the Shanghai Futures Exchange is surging, while speculative length in the LME is rapidly approaching those May 2015 peaks. Investors have got sucked into the zinc market before, most recently in May last year, when the London price peaked at...

  • SYDNEY/ LONDON, July 20- BHP Billiton and Anglo American have reported setbacks in their iron ore production, but analysts said the contraction was nowhere near enough to dent the massive global supply glut that has driven prices to record lows. Overnight on Tuesday, BHP Billiton narrowly missed its iron ore output target in the financial year just ended...

  • *China copper output rose 7.6 pct to 4 mln T in H1 2016. That weighed on all metals including nickel, which slipped despite news that the Philippines has asked Nickel Asia Corp, its top producer, to stop exporting ore from Manicani island. Nickel has surged some 10 percent this month on plans for a mining crackdown in the Philippines, the top supplier of nickel ore to...

  • BHP Production

    The inflection point for BHP Billiton will have to come from an improvement in the commodity price cycle, says Patersons Securities' Rob Brierley.

  • *China copper output rose 7.6 pct to 4 mln T in 1 H 2016. *Copper supply rises at Collahuasi, Escondida mines in Chile. MELBOURNE, July 20- London copper and nickel sank on Wednesday after a U.S. housing report pushed up the dollar and sparked profit-taking across the two metals, with copper also hit by evidence of mounting supply.