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Materials and Metals Metals and Mining

  • MELBOURNE, June 16- London copper edged up on Friday but was still eyeing its biggest weekly drop since early May as markets priced in a higher U.S. interest rate environment that would support the dollar. *ShFE COPPER: Shanghai Futures Exchange copper closed slightly weaker at 45,490 yuan a tonne. *EXCHANGE EXPANSION: CME says the New York Mercantile Exchange Inc....

  • *Despite pledge, OPEC and Russian oil supplies remain high. SINGAPORE, June 16- Oil prices edged up on Friday but remained near six-month lows, held down by an ongoing supply overhang that persists despite an OPEC- led effort to cut production and prop up crude markets. Rising U.S. oil output, particularly from shale drillers, is contributing to the ineffectiveness...

  • MELBOURNE, June 16- London copper edged up on Friday but was still eyeing its biggest weekly drop since early May as markets priced in a higher U.S. interest rate environment that would support the dollar. *Shanghai Futures Exchange copper was flat at 45,650 yuan a tonne. *CME says the New York Mercantile Exchange Inc. and Commodity Exchange Inc. plans to expand the...

  • LONDON, June 15- Some U.S. shale producers claim they can produce oil profitably with prices well below $50 per barrel or even $45 per barrel; the oil market is likely to put those claims to the test. As a result, U.S. shale producers together with other non- OPEC suppliers are expected to capture all of the increase in global oil demand in 2018 and raise their share of the...

  • SANTIAGO, June 15- Chilean authorities began a fresh drill on Thursday to try to locate two miners who went missing a week ago when the mine in which they were working was flooded. A landslide on Friday at a section of the Delia mine, part of Canadian-listed Mandalay Resources' Cerro Bayo gold and silver complex in Chile's southern Aysen region, sparked the flooding...

  • BUENOS AIRES, June 15 (Reuters)- A judge told a radio station in the Argentine province of San Juan that he had lifted a suspension on leaching operations at Barrick Gold Corp's Veladero mine on Thursday. It also lowered its forecast for total 2017 gold production in the first quarter, largely reflecting the sale of a 50- percent stake in Veladero to Shandong Gold...

  • *Nucor expects 2nd- qtr earnings of $1- $1.05/ shr. Nucor's shares fell as much as 6.3 percent to $55.40 in morning trading after the company said it expects earnings of $1.00 to $1.05 per share for the second quarter ending July 1. China, the world's largest steel producer, makes far more steel than it consumes, selling the excess output overseas in markets such as the...

  • Coal miners in Beallsville, Ohio.

    The Trump administration is using preliminary estimates to claim coal mining jobs are being created, against federal statisticians' advice.

  • Nucor's shares fell nearly 3 percent to $57.41 in morning trading after the company said it expects earnings of $1.00 to $1.05 per share for the second quarter ending July 1. Wall Street analysts on average were expecting second-quarter earnings of $1.22 per share, analysts at Cowen& Co said in a client note. The company reported a profit of $1.11 per share in the...

  • June 15- U.S. steel-maker Nucor Corp said on Thursday it expects second-quarter earnings per share to decrease from the preceding quarter, partly due to weak demand in its steel mills business. Nucor's shares fell 1.9 percent to $58 in premarket trading after the company said it expects earnings of $1.00 to $1.05 per share for the second quarter ending July 1.

  • May industrial production unchanged vs. up 0.1% estimate

    CNBC's Rick Santelli sifts throught the data from the industrial sector, and provides the latest read on capacity utilization rate.

  • *Europe follows Asia lower on economic growth worries. LONDON, June 15- Stocks fell in Europe and Asia on Thursday as investor concern over the pace of economic growth hit shares in mining and retail sectors while the prospect of tighter monetary policy in the United States and Britain pushed up the dollar and bond yields. European shares, already led down by...

  • LONDON, June 15- Some U.S. shale producers claim they can produce oil profitably with prices well below $50 per barrel or even $45 per barrel; the oil market is likely to put those claims to the test. As a result, U.S. shale producers together with other non- OPEC suppliers are expected to capture all of the increase in global oil demand in 2018 and raise their share of the...

  • The bad news is that 2017 may well see coal output and consumption increase from last year, and as usual with most things coal, it's all about China, which accounts for about half of global consumption. China is also the world's largest producer and importer of the fuel and while the authorities in Beijing have had success in reducing coal's share of the country's...

  • *Neometals considers splitting technology from mining business. LONDON, June 15- Australian lithium miner Neometals plans to list in New York and may spin off its processing technology in an attempt to boost its share value, Chief Executive Chris Reed said. "Mining is well understood in Australia.

  • MELBOURNE, June 15- London copper dipped to its lowest in a week on Thursday after the U.S. Amid a mixed economic outlook in the United States and slowing industrial activity in China exacerbated by the end of financial quarter, metals could come under further selling pressure, broker Kingdom Futures said in a report. *SHFE COPPER: Shanghai Futures Exchange copper...

  • The bad news is that 2017 may well see coal output and consumption increase from last year, and as usual with most things coal, it's all about China, which accounts for about half of global consumption. China is also the world's largest producer and importer of the fuel and while the authorities in Beijing have had success in reducing coal's share of the country's...

  • *Barrick, Tanzania teams set up to resolve export ban. Tanzania is Africa's fourth-largest gold producer, and Acacia its largest miner, with three gold mines that also produce copper in the East African country. Acacia's market value has nearly halved to about $1.4 billion since Tanzania banned the export of unprocessed ore in March, part of a push for the...

  • TORONTO, June 14- Freeport-McMoRan Inc, the world's biggest publicly traded copper miner, and China Molybdenum Co Ltd have agreed to terminate discussions on CMOC's acquisition of Freeport's cobalt assets, Freeport said on Wednesday. China Moly had an exclusive right to negotiate for the assets, which includes the Kokkola Cobalt Refinery in Finland and the...

  • *Fed rate decision expected at 1800 GMT. LONDON, June 14- Copper was pushed lower ahead of an anticipated U.S. Higher rates interest rates in the United States are likely to lure investment away from emerging economies and boost the dollar, undermining metals prices, ABN AMRO analyst Casper Burgering said.