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Materials and Metals Metals and Mining

  • BEIJING, Sept 20- Shanghai aluminium prices on Wednesday hit their highest in nearly six years on a report that Aluminum Corp of China, known as Chinalco, has started cutting production in Henan province almost two months before official winter restrictions kick in. The most-traded aluminium contract on the Shanghai Futures Exchange had jumped 3.9 percent,...

  • BEIJING, Sept 20- Shanghai aluminum prices on Wednesday hit their highest in nearly six years on a report that Aluminum Corp of China, known as Chinalco, has started cutting production in Henan province almost two months before official winter restrictions kick in. The most-traded aluminum contract on the Shanghai Futures Exchange had jumped 3.9 percent, its...

  • MELBOURNE, Sept 20- London aluminum struck its highest in five years on Wednesday on prospects that China's winter production are starting early and will soon pare back stocks of available metal. "For aluminum, certainly this is related to China's winter production cuts," said analyst Helen Lau at broker Argonaut Securities in Hong Kong. China has launched an...

  • BERLIN— Germany's Thyssenkrupp and Tata Steel of India signed a preliminary deal on Wednesday to merge their European steel operations, a combination that could lead to up to 4,000 job cuts. The new entity is to be called Thyssenkrupp Tata Steel and be managed by what Thyssenkrupp called a "lean holding company" based in the Netherlands. "We will not be putting any...

  • LONDON, Sept 20- European stocks continued to trade cautiously in early deals on Wednesday ahead of a policy decision by the U.S. Deal-making was also in focus in Europe, with shares in steelmaker Thyssenkrupp rising 5 percent after it struck a preliminary deal with India's Tata Steel to merge their European steel operations in a 50-50 joint venture.

  • LONDON, Sept 20- European stocks continued to trade cautiously in early deals on Wednesday ahead of a policy decision by the U.S. Deal-making was also in focus in Europe, with shares in steelmaker Thyssenkrupp rising 5 percent after it struck a preliminary deal with India's Tata Steel to merge their European steel operations in a 50-50 joint venture.

  • *Expect annual synergies of 400- 600 million euros. FRANKFURT, Sept 20- Germany's Thyssenkrupp and India's Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent's No.2 steelmaker after ArcelorMittal. Thyssenkrupp shares were indicated up more than 5 percent in pre-market...

  • *See annual synergies of 400- 600 million euros. FRANKFURT, Sept 20- Thyssenkrupp and Indian peer Tata Steel on Wednesday struck a preliminary agreement to combine their European steel operations in a 50-50 joint venture, creating the continent's No.2 steelmaker after ArcelorMittal. The MoU, widely expected after Thyssenkrupp last week said a deal could still...

  • MOSCOW, Sept 19- Russian aluminum producer Rusal is in no rush to make a decision on whether to list in London and its decision could depend on Brexit talks, Deputy Chief Executive Oleg Mukhamedshin said. Rusal, the world's largest aluminum producer after China's Hongqiao, is considering canceling its Paris listing and listing in London where it thinks its...

  • MOSCOW, Sept 19- Severstal, one of Russia's largest steelmakers, told Reuters it expects to exceed its 2017 earnings target as it benefits from rising prices for its products. Russian steelmakers such as Severstal and market leader NLMK struggled over the last two years as world steel prices plumbed 11- year lows and Russia's economic crisis sapped domestic...

  • LONDON, Sept 19- Nickel prices fell on Tuesday towards the one-month lows hit last week as funds took profits, but concern about supplies from the Philippines and healthy demand, particularly from Chinese stainless steel mills, are expected to lend support. down 2 percent at $11,015 a tonne at 1007 GMT from an earlier $10,945. "Nickel rose about 40 percent between...

  • LONDON, Sept 19- A jump in holdings of palladium-backed exchange-traded funds is ratcheting up pressure on a market that has seen years of deficit, threatening to push prices, already up by a third this year, higher still. "Last year, when ETF investment was going down, the deficit was being filled by investor selling," Macquarie analyst Matthew Turner said.

  • MELBOURNE, Sept 19- London metals traded little changed on Tuesday as traders are awaiting the outcome of the U.S. Prices have been consolidating around $6,450 to $6,550 a tonne since falling to a four-week trough of $6,453 a tonne last week. *ShFE COPPER: Shanghai Futures Exchange copper finished up 0.8 percent at 50,730 yuan a tonne.

  • Caribbean islands hit by next category 5 hurricane. SINGAPORE, Sept 19- Oil markets dipped on Tuesday, pulled down by rising U.S. shale output and fears that another hurricane hitting the Caribbean could knock out refineries and disrupt shipping to and from the United States. Outside the United States, Brent crude futures, the international benchmark for oil...

  • MELBOURNE, Sept 19- London metals were steady on Tuesday as traders are awaiting the outcome of the U.S. Prices have been consolidating around $6,450 to $6,550 a tonne since falling to a four-week trough of $6,453 a tonne last week. *ShFE COPPER: Shanghai Futures Exchange copper was up 0.9 percent at 50,790 yuan a tonne.

  • MELBOURNE, Sept 19- London copper and zinc climbed on Tuesday on signs that a cooling property market in top consumer China was not derailing economic growth in the world's top metals consumer. *CHINA PROPERTY: China's new home prices rose in August at the slowest pace in seven months and fell or leveled off in more cities as government cooling measures dampened...

  • SINGAPORE, Sept 19- Oil markets were stable on Tuesday, supported by a fall in Saudi Arabian crude exports but capped by an expected rise in U.S. shale output. West Texas Intermediate crude futures were at $50.00 per barrel at 0043 GMT, 9 cents, or 0.2 percent, above their last settlement. Outside the United States, Brent crude futures, the international benchmark for...

  • BELO HORIZONTE, Sept 18- Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron ore producer Vale said on Monday. The decrees must be confirmed by Congress by a November deadline to become permanent and could be subject to amendments.

  • BELO HORIZANTE, Sept 18- Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron ore producer Vale said on Monday. The decrees must be confirmed by Congress by a November deadline to become permanent and could be subject to amendments.

  • WASHINGTON, Sept 18- The head of the U.S. Department of the Interior called for changes to the management of 10 national monuments that would lift restrictions on activities such as logging and mining and shrink at least four of the sites, the Washington Post reported. Interior Secretary Ryan Zinke recommended that President Donald Trump reduce the boundaries...