VANCOUVER/ TORONTO April 26- Barrick Gold Corp, the world's largest gold producer, on Tuesday reported first-quarter adjusted earnings that rose sharply, topping market expectations, pushing its shares higher. "There's evidence that the board has taken into account, belatedly, the feedback from shareholders," said David Anderson, CEO of executive advisory firm...
*Dalian iron ore falls 6 pct, Shanghai rebar down nearly 4 pct. *China has moved this week to crack down on price surge. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou increased trading margins and fees in response to last week's spike in prices and volumes, which some analysts said were not matched by fundamentals for the underlying commodities.
The Toronto- based miner reported adjusted earnings of 11 cents a share, up from 5 cents a year ago and ahead of analyst expectations of 11 cents, on average, according to Thomson Reuters I/B/E/S. Barrick cut its forecast for all-in sustaining costs, the industry benchmark, for this year to a range of $760 to $810 per ounce from $775 to $825 before.
April 26- U.S. miner and oil producer Freeport-McMoRan reported a bigger quarterly loss, hurt by weak copper and oil prices. Net loss attributable to common stockholders was $4.18 billion, or $3.35 per share, compared with a loss of $2.47 billion, or $2.38 per share, a year earlier. Revenue fell 15.1 percent to $3.53 billion.
The company, which has mines in the Americas, Australia and Africa, said gold production fell 7.9 percent to 1.3 million ounces in the first quarter, while all-in sustaining costs- the industry cost benchmark- fell 23.8 percent to $706 per ounce. Barrick also reaffirmed its gold production guidance of 5-5.5 million ounces for 2016 but cut its all-in sustaining...
April 26- Barrick Gold Corp, the world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales weighed on production and realized prices fell. The company reported a net loss of $83 million, or 7 cents per share, in the quarter ended March 31, compared with a profit $57 million, or 5 cents per share, a year earlier.
LONDON, April 26- Nearly 240 million tonnes of steel rebar traded on the Shanghai Futures Exchange last Thursday. That was equivalent to around a third of China's steel production last year, not just of construction-destined rebar but of every imaginable type of steel product. And if that sounds like a lot of steel, consider the fact that on March 10 this year...
*Dalian iron ore falls 6 pct, Shanghai rebar down nearly 4 pct. MANILA, April 26- Iron ore and steel futures in China fell sharply on Tuesday after authorities raised transaction costs to cool last week's rapid gains in Chinese commodities, which had raised fears of an unstable speculative bubble forming. China's top commodity exchanges in Dalian, Shanghai and...
LAUNCESTON, Australia, April 26- Australia and Russia could emerge the relative winners if China does restrict imports of North Korean coal, as it has pledged to do. China banned the importation of several minerals from North Korea on April 5, including coal, as part of new United Nations sanctions on Pyongyang aimed at curbing the rogue state's nuclear weapons...
SHANGHAI, April 26- China's top steel making province will ban the reopening of steel mills that had been previously ordered to shut down, the official Xinhua News Agency reported on Tuesday, as soaring steel prices lure back producers. Hebei accounts for just under a quarter of steel production in China, by far the world's top steel producer and consumer.
*Dalian iron ore falls over 5 pct after hike in transaction cost. MANILA, April 26- Iron ore and steel futures in China fell back again on Tuesday after authorities raised transaction costs to cool rapid gains that had raised concerns that an unstable speculative bubble was forming. China's top commodity exchanges in Dalian, Shanghai and Zhengzhou have...
China moved to clamp down on excessive speculation in commodities on Monday after weeks of frenzied trading, the Financial Times reports.
BRASILIA, April 25- Brazilian steelmaker Usiminas said on Monday it may raise prices further in Brazil if international steel prices continue to remain high.
MANILA, April 25- Shanghai aluminium futures jumped to their highest level in nearly 10 months on Monday, tracking gains on the London Metal Exchange amid optimism about a demand pick-up up in top consumer China. While demand is recovering, restarts among aluminium smelters in China after production curbs last year had been slow, tightening supply.
Platts' senior MD for Australia, Paul Bartholomew, discusses the global steel industry and China's part in it.
Ari Wald, Executive Director and Head of Technical Analysis at Oppenheimer & Co., and Chad Morganlander, Portfolio Manager at Stifel, discuss the silver market with Brian Sullivan.
New data has shone a light on the potential pitfalls for investors who are seeking sizeable returns from the metal lithium.
2016 Australian output will be the same as estimated as the beginning of the year, which doesn't help supply conditions, warns Tim Murray, managing partner at J Capital Research.
With major miners cutting back on new supply, the iron ore price is set for a solid boost, notes Jonathan Barratt, chief investment officer of Ayers Alliance Securities.
Some of the world's biggest iron ore miners are slashing output targets, a move likely to fuel price gains for the commodity.