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Materials and Metals Metals and Mining

  • TOKYO, July 21- Japan's Nikkei share average edged down on Friday as investors took profits on steelmakers, offsetting gains in Yaskawa Electric and other machinery makers. The Nikkei has managed to stay above 20,000 for most of the time since July 10, in which time the dollar dropped to below 112 yen from mid-114 yen. "On a daily basis, the market gets emotional about...

  • WASHINGTON, July 20- Seeking a more positive spin on U.S.- China economic talks viewed as ending in discord, China said on Thursday that the two sides agreed to "active and effective measures" to reduce global excess steel production capacity. Their statement did not mention steel and cited only one point of consensus, a "shared objective" to work towards reducing...

  • WASHINGTON, July 20- Senior Chinese and U.S. officials discussed cutting excess global steel production capacity and agreed to "active and effective" measures to address the issue, China's embassy in Washington said on Thursday, a day after high-level economic meetings in Washington. "In this breakout session, the two sides focused their discussion on steel,...

  • RIO DE JANEIRO, July 20- Brazil's Vale SA said on Thursday that iron ore output would close the year near the bottom of its forecast of 360 million to 380 million tonnes, despite record production for a second quarter in the April-to-June period. Iron ore output was spurred by record production of 41.5 million tonnes in Vale's so-called northern system, which...

  • RIO DE JANEIRO, July 20- Brazil's Vale SA, hit record iron ore production in the second quarter, even as the world's largest iron ore producer said output would close the year near the bottom of its 360 million to 380 million tonne forecast. Vale said iron ore production reached 91.849 million tonnes last quarter, up 5.8 percent from 86.823 million tonnes in the...

  • Benchmark copper on the London Metal Exchange was up 0.2 percent at $5,972 at 1045 GMT, close to Monday's high of $6,022.50- the first rise above $6,000 since March 2. "There's still a halo effect from the stronger-than-expected Chinese numbers," ETF Securities analyst Nitesh Shah said. CHINA ECONOMY: The Asian Development Bank raised its 2017 and 2018 growth...

  • *Gold may consolidate at $1,236- $1,244 for 1 day- technicals. BENGALURU, July 20- Gold prices inched lower on Thursday as investors awaited a meeting of the European Central Bank later in the day for clues on the outlook for its stimulus program, with a firmer dollar also weighing on the precious metal. Spot gold fell 0.2 percent to $1,237.86 per ounce at.

  • BHP has signaled it may push ahead with its long-dormant Jansen potash mine in Canada in a counter-cyclical play to capture part of what it sees as a $50 billion- a-year market by the mid 2040 s. Jansen is already under construction but requires BHP's board to approve another $4.7 billion to bring the mine into production. Chief Executive Andrew Mackenzie said in...

  • MELBOURNE, July 20- London copper marked time on Thursday near its highest since early March, underpinned by brighter prospects for China's economy but awaiting a U.S. jobs report for cues on near-term direction. *Shanghai Futures Exchange copper eased by 0.2 percent to 47,720 yuan a tonne. *Premiums for zinc in China continue to fall reflecting ample...

  • U.S. Treasury and Commerce Department officials declined immediate comment on the annual summer dialogue between Washington and Beijing, while the Chinese delegation's leader, Vice Premier Wang Yang, left the Treasury building without speaking to reporters. The potential steel tariffs, which could be announced in the coming weeks, were expected to be a...

  • LIMA, July 19- Unionized workers at mines in Peru, the world's second biggest copper producer, started a nationwide strike on Wednesday to protest the government's proposed labor reforms, the head of a federation of mining unions said on Wednesday. Workers at 56 mining unions in the Andean country, including the top copper mines, are striking, said Ricardo Juarez,...

  • WASHINGTON, July 19- U.S. and Chinese officials appeared locked in contentious economic talks on Wednesday with the outcome clouded by the cancellation of closing news conferences and U.S. demands for a "more fair" trading relationship with Beijing. Commerce Secretary Wilbur Ross in opening remarks to the annual summer dialogue between Washington and...

  • LIMA, July 19- Unionized workers at mines in Peru, the world's second biggest copper producer, started a nationwide strike on Wednesday to protest the government's proposed labor reforms, the head of a federation of mining unions said on Wednesday. Workers at 56 mining unions in the Andean country, including the top copper mines, are striking, said Ricardo Juarez,...

  • LONDON/ GENEVA, July 19- U.S. President Donald Trump's plan to impose steel import tariffs for national security reasons would likely trigger a swift "safeguard" action by the European Union, political and industry sources said. Challenging the plan through the World Trade Organization's dispute system would take years.

  • LIMA, July 19- Unionized workers at mines in Peru, the world's second-biggest copper producer, started an indefinite, nationwide strike on Wednesday to protest the government's proposed labor reforms, the head of a federation of mining unions said on Wednesday. Workers at 56 mining unions in the Andean country, including the country's top copper mines, are...

  • SINGAPORE, July 19- China Minmetals Corp and China National Gold Group are unaware of any merger talks between the two companies, their listed units said on Wednesday, after a Reuters report on a possible deal caused a rally in their shares. "After checking with the company's owner China Minmetals Group, the group said it was not aware of a merger deal and had not been...

  • LIMA, July 19- Unionized workers at mines in Peru, the world's second-biggest copper producer, started an indefinite, nationwide strike on Wednesday to protest the government's proposed labor reforms, the head of a federation of mining unions said on Wednesday. Workers at 56 mining unions in the Andean country, including the country's top copper mines, are...

  • LONDON, July 19- Copper struggled to hold onto gains above $6,000 on Wednesday after the U.S. dollar rose but higher steel prices and upbeat Chinese data boosted expectations of strong demand. Copper hit $6,022.50 on Monday, its highest since March 2, driven by upbeat economic data from China. "There has been lots of positive sentiment from China but the dollar is...

  • Benchmark copper on the London Metal Exchange was down 0.1 percent to $5,997.50 a tonne at 0956 GMT, close to a an early May high of $6,022.50. "All metals generally are still benefiting from China data and from rising Chinese steel prices," said Capital Economics commodities economist Caroline Bain. CHINA DATA: A pick-up in the industrial sector helped China post...

  • Guidance for BHP's oil production was weak as low oil prices means lower cash flow for the company's U.S. shale assets, says Robert Brierley of RM Capital.