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Materials and Metals Metals and Mining

  • *Kobe previously said data tampering may go back 10 years. *Kobe still trying to nail down extent of tampering- source. The revelations have sent shockwaves through supply chains around the world and hammered Kobe shares, which fell to near five-year lows on Monday on worries about the financial and legal fallout of the cheating scandal.

  • SYDNEY, Oct 17- London copper paused for breath near three-year highs on Tuesday as it faced headwinds from a stronger dollar, but renewed optimism over China's economic outlook has lent support to prices. *LME COPPER: London Metal Exchange copper was little changed at $7,128 a tonne by 0125 GMT, following its biggest daily jump in eight months at 3.7 percent on...

  • *But cuts copper output guidance due to delays at Chile mine. Oct 17- Global miner Rio Tinto on Tuesday said it had lifted its third quarter iron ore shipments by 6 percent after modernizing its haulage railway in Australia's outback, but cut its production target for copper due to delays at a major mine in Chile. "The business performed very well in the September...

  • Andrew Cole, MD & CEO, OZ Minerals, says demand for copper is being pushed along by new technologies such as electric cars and wind turbines.

  • Australia's Rio Tinto is "very well placed" after a strong showing on iron ore shipments in Q2 and will further benefit from strong Chinese demand, says Alex Leyland of Leyland Private Asset Management.

  • David Lennox, resource analyst, Fat Prophets, says Rio Tinto will continue to mull asset sales outside of core areas like iron ore, with copper and aluminum in focus.

  • Oct 17- Japan's Kobe Steel Ltd falsified product quality data well beyond the roughly 10- year time frame given by the steelmaker, the Nikkei financial daily reported, citing a source with knowledge of the situation. Kobe Steel Chief Executive Hiroya Kawasaki on Friday said about 500 companies had received its falsely certified products, more than double its...

  • TORONTO, Oct 16- Canada's benchmark stock index edged lower on Monday, giving up its earlier gains, as profit-taking by investors in gold pressured shares of companies that mine the precious metal. Gold, which had been boosted this month by tensions over Iran and North Korea, retreated 0.8 percent to $1,291.90 an ounce. In contrast, shares of copper producer First...

  • TORONTO, Oct 16- Canada's main stock index edged lower on Monday, giving up its earlier gains, as profit-taking by investors in gold pressured shares of companies that mine the precious metal. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 4.47 points, or 0.03 percent, at 15,802.70. Five of the index's 10 main groups ended lower.

  • *FTSE 100 down 0.1 percent at close. LONDON, Oct 16- Medical device firm ConvaTec was bruised after a profit warning on Monday, but mining companies stemmed broader losses on the FTSE share index. Britain's FTSE 100 ended the session down 0.1 percent, with basic resource stocks adding the most points to the index.

  • TORONTO, Oct 16- Canada's main stock index rose on Monday, extending its recent gains as upbeat Chinese data lifted global market sentiment and higher commodity prices fueled a rally in resource stocks. Copper prices advanced 4.0 percent to $7,160 a tonne, breaking through the $7,000 a tonne mark for the first time in three years as a batch of economic data,...

  • TOKYO, Oct 13- The cheating crisis engulfing Kobe Steel Ltd just got bigger. The scale of the misconduct at Japan's third-largest steelmaker pummelled its shares as investors, worried about the financial impact and legal fallout, wiped about $1.8 billion off its market value this week. As the company revealed tampering of more products, the crisis has rippled...

  • LONDON, Oct 16- Gold held above the psychological $1,300 mark on Monday, supported by ongoing tensions over Iran and North Korea and recent weak U.S. economic data. Palladium made another break above $1,000 an ounce to the highest levels since 2001 on the back of strong Chinese auto sales. Spot gold has been rebounding since touching a two-month low of $1,260.16 on...

  • BRUSSELS, Oct 16- Global steel demand growth is expected to slow to 1.6 percent next year, after strong growth in 2017 driven by demand from top consumer China, the World Steel Association said on Monday. However, it added: "In 2018 we expect growth to moderate, mainly due to slower growth in China." China this year closed most of its outdated and in many cases illegal...

  • *FTSE 100 up 0.1 pct. LONDON, Oct 16- Medical device firm Convatec was bruised in early deals after a profit warning, but failed to drag down the broader FTSE share index as mining companies cemented British stocks. Britain's FTSE 100 inched up 0.1 percent by 0820 GMT, with basic resource stocks the biggest boost.

  • TOKYO, Oct 16- Just over a week out from revelations of a cheating scandal that plunged Kobe Steel Ltd in crisis and ensnared hundreds of firms, the embattled steelmaker's shares skidded to five-year lows on Monday as investors worried about the financial and legal fallout. Shares of Japan's third-biggest steelmaker hit 774.0 yen in the morning, the lowest...

  • economy@ MELBOURNE, Oct 16- London copper prices charged through the $7,000 mark for the first time in three years on Monday, underpinned by improving manufacturing profits in China that pointed to robust growth in the world's top user of metals. The inflation reading followed data showing China's copper imports surged in September, fuelling optimism about...

  • economy@ MELBOURNE, Oct 16- London copper prices charged through the $7,000 mark for the first time in three years on Monday, underpinned by improving manufacturing profits in China that pointed to robust growth in the world's top user of metals. The inflation reading followed data showing China's copper imports surged in September, fuelling optimism about...

  • MELBOURNE, Oct 16- London copper prices rose to near three-year highs on Monday, underpinned by improving manufacturing profits in China that pointed to a robust economy in the world's top user of metals. The inflation reading followed data showing China's copper imports surged in September, fuelling optimism about demand, said analyst Helen Lau of broker...

  • TOKYO, Oct 16- Shares of embattled Kobe Steel Ltd tumbled to their lowest level in nearly 5 years on Monday, as a cheating scandal at the Japanese steelmaker ensnared hundreds of firms and left investors fearing for the financial and legal fallout. Shares of Japan's third-biggest steelmaker were down 0.12 percent at 804 yen by the end of the morning session after...