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Materials and Metals Metals and Mining

  • The New York- based company reported third-quarter net profit of $166 million, or 33 cents per share, up from $44 million, or 6 cents a year earlier. Analysts, on average, expected earnings per share for the quarter of 35 cents. In premarket trading, Alcoa shares were trading at $29.88, down more than 5 percent from Monday's official closing price of $31.51.

  • LONDON, Oct 11- Global steel demand will rise by a meagre 0.2 percent this year, according to the World Steel Association. The improvement is all about China, where production and demand have been lifted by the government's latest stimulus package, another push of the infrastructure and construction buttons. Stainless steel production rebounded strongly in...

  • MELBOURNE, Oct 11- London copper was steady on Tuesday as optimism U.S. presidential candidate Hilary Clinton was pulling ahead in the polls fed risk-appetite on Wall Street, eclipsing concerns over the strength of Chinese metals demand. *Three-month copper on the London Metal Exchange was little changed at $4,850 a tonne by 0138 GMT, close to Monday's $4,860-...

  • DAKAR, Oct 10- Mining giant Rio Tinto said on Monday that the International Finance Corporation, a partner in its $20 billion Simandou iron ore project in Guinea, is selling its 4.6 percent stake. Rio has a 46.6 percent stake in the project; China's Chinalco has 41.3 percent and the Guinea government has 7.5 percent. The West African country is counting on the...

  • LIMA, Oct 10- One of Peru's top copper and zinc mines, Antamina, will likely double its zinc output to between 340,000 tonnes and 360,000 tonnes next year to take advantage of an expected rise in prices, the mine's general manager said on Monday. BHP Billiton and Glencore Plc each own 33.75 percent stakes in Antamina. Chahuan said the open-pit operation in Peru's...

  • *Funds, producers looking to sell zinc at $2,400/ T. LONDON, Oct 10- Zinc prices rose on Monday boosted by expectations of shortages due to mine closures, but analysts say the metal is still easily available and further gains could be limited. Many zinc mines have been shut or mothballed over the past couple of years, but prices did not really take off until this year...

  • *Funds, producers looking to sell zinc at $2,400/ T. LONDON, Oct 10- Zinc prices rose on Monday boosted by expectations of shortages due to mine closures, but analysts say the metal is still easily available and further gains could be limited. Many zinc mines have been shut or mothballed over the past couple of years, but prices did not really take off until this year...

  • *Manila has already suspended a quarter of its 41 mines. MANILA, Oct 10- The Philippines will cancel the environmental permit of a nickel miner that began operations this year, a minister said, as the government intensifies a campaign to punish mineral producers harming natural resources. The issue with the mine is it sits between Mount Hamiguitan, a UNESCO World...

  • PHILIPPINE MINISTER SAYS ENVIRONMENTAL PERMIT OF NICKEL MINER WILL BE CANCELLED AS CRACKDOWN CONTINUES.

  • The news poured cold water on prices that had rallied after a rash of nickel mine suspensions in the Philippines on environmental grounds threatened supply to top user China's vast stainless steel industry. "Nickel finds itself in a situation where two key producers- Indonesia and Philippines- are both in the midst of revaluating their export policies,"...

  • MELBOURNE, Oct 10- London nickel rose on Monday as Chinese markets returned after a week long break and traders bought the metal, which fell last week when Indonesian officials said they were considering reinstating nickel ore exports. *Three-month nickel on the London metal Exchange climbed 1 percent to $10,300 a tonne. *Shanghai Futures Exchange nickel fell...

  • BEIJING, Oct 9- China's Commerce Ministry has expressed concern and regret after the European Union set provisional import duties on two types of Chinese steel coming into the bloc, calling its investigation methods "unfair". China, the source of 50 percent of the world's steel and the largest steel consumer, has said the problem is a global one.

  • SAO PAULO, Oct 7- The division between the two controlling shareholders of Usinas Siderúrgicas de Minas Gerais SA risks destroying the Brazilian flat steelmaker, a senior executive at minority shareholder and rival Cia Siderúrgica Nacional SA said on Friday. The business relationship between controlling shareholders Nippon Steel& Sumitomo Metal Corp...

  • Futures Now: Not so precious week for metals

    The "Futures Now" team discusses the gold and silver markets with CNBC's Jackie DeAngelis.

  • *Indonesia reconsiders nickel ore export ban. LONDON, Oct 7- Copper rose on Friday after the dollar pared gains on data showing U.S. employers took on fewer workers than expected in September, indicating the Federal Reserve could be more cautious about raising interest rates. "The dollar edged lower after the payrolls and encouraged a moderate rally in base metal...

  • *Latest in series of duties set for Chinese steel. BRUSSELS, Oct 7- The European Union has set provisional import duties on two types of steel coming into the bloc from China to counter what it says are unfairly low prices, in a move likely to anger Beijing. China, the source of 50 percent of the world's steel and the largest steel consumer, has said the problem is a global...

  • Indonesia reconsiders nickel ore export ban. LONDON, Oct 7- Aluminum hit a seven-week high and copper also rose on Friday after the dollar slipped on data showing U.S. employers took on fewer workers than expected in September, indicating the Federal Reserve could be more cautious about raising interest rates. "The dollar edged lower after the payrolls and...

  • *Latest in series of duties set for Chinese steel. BRUSSELS, Oct 7- The European Union has set provisional import duties on two types of steel coming into the bloc from China to counter what it says are unfairly low prices, in a move likely to anger Beijing. China, the source of 50 percent of the world's steel and the largest steel consumer, has said the problem is a global...

  • BRUSSELS, Oct 7- The European Union has set provisional import duties on two grades of steel coming into the bloc from China to counter what it says are unfairly low prices in a move likely to anger Beijing. The hot-rolled steel case includes Bengang Steel Plates Co Ltd and Hebei Iron& Steel Co. Ltd and units of Jiangsu Shagang Group. The heavy plate steel case covers...

  • China is experiencing a resurgence in construction as the government boosted stimulus measures in a slowing economy.

    Australia on Friday raised price forecasts for iron ore and coal on the back of an unexpected demand from Chinese steelmakers.