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Materials and Metals Metals and Mining

  • SAO PAULO, May 31- Brazilian shares dropped on Wednesday tracking a decline in prices of commodities, but stocks in meatpacker JBS SA jumped after its controlling shareholder struck a leniency deal with authorities for its part in a corruption scandal. Shares of iron ore miner Vale SA and state-controlled oil company Petróleo Brasileiro SA subtracted the...

  • ANTOFAGASTA, Chile, May 31- Immigrants from around South America hoping to seek their fortunes in the continent's copper mining capital of Antofagasta, Chile, are instead finding poverty, exclusion and a precarious home in the city's growing temporary slums. Chile, one of Latin America's most developed countries, has become a magnet in recent years for...

  • MOSCOW/ HONG KONG, May 31- A consortium of investors led by China's Fosun International Ltd will buy a 10 percent stake in Russia's top gold producer Polyus for $887 million, they said on Wednesday. Russia, the world's third largest gold producer, has been looking for investments in Asia, mainly in China, since the West imposed sanctions on Moscow due to its role in the...

  • NEW YORK, May 31- Coal stocks continued to underperform the broader U.S. market on Wednesday and renewable energy stocks also fell after media reported the United States will withdraw from a global pact to fight climate change. President Donald Trump will follow through on a campaign pledge to pull the United States out of the Paris climate accord, a source...

  • MOSCOW, May 31- Russian tycoon Suleiman Kerimov's family said on Wednesday they were selling 10 percent of Russia's top gold producer Polyus to a consortium of investors led by China's Fosun International Ltd for $887 million. Polyus Gold International Limited said in a statement that it would sell 12,561,868 Polyus shares to the Fosun-led consortium for...

  • MOSCOW, May 31- Russian metals and mining giant Mechel said on Wednesday its net profit jumped to 13.9 billion roubles in the first quarter, compared with a profit of 312 million roubles in the same period last year. Mechel's net debt, excluding fines and penalties on overdue amounts, totalled 458.9 billion roubles as of March 31, down from 469.2 billion roubles at...

  • LONDON, May 31- Nickel prices tumbled to 11- month lows on Wednesday on investor concern over rising supply from top producers Indonesia and the Philippines as well as weak demand from stainless steel mills in China. "People are looking at the potential for higher supplies from Indonesia and the Philippines and getting very bearish," said Societe Generale...

  • BOSTON, May 31- After U.S. But now investors are pouring money back in, boosting net deposits in 22 green funds to nearly $83 million in the first four months of 2017, according to data from Thomson Reuters' Lipper unit. The coal industry faces problems in the marketplace that are too big for any government to solve, said Murray Rosenblith, a portfolio manager for the...

  • *Dalian iron ore futures trading volume highest in 13 months. MANILA, May 31- A stubborn glut and selling by Chinese speculators have slashed iron ore prices this year, with traders and industry officials predicting further declines as memories fade of the steelmaking commodity's stunning recovery in 2016.. Weaker prices could also hit marginal suppliers...

  • *China steel demand may slow as summer sets in- CRU. MANILA/ BEIJING, May 31- Activity in China's steel industry expanded at the fastest pace in a year in May, industry data showed on Wednesday, with a rise in new orders giving mills in the world's top producer incentive to further ramp up output. China, which makes about half of the world's steel, produced a record volume...

  • SYDNEY, May 31- Better-than-expected China manufacturing data pushed London copper higher in early trading on Wednesday, reversing overnight losses. *COPPER: Three-month copper on the London Metal Exchange was up 0.5 percent to $5,687 a tonne by 0130 GMT, reversing losses from the previous session. *SHANGHAI: The most-traded copper contract on the Shanghai...

  • *China May official manufacturing PMI 51.2. *China May official services PMI 54.5. BEIJING, May 31- China manufacturing sector grew faster than expected in May as activity in the steel industry rebounded sharply, an official survey showed on Wednesday, allaying concerns of slowing economic momentum as Beijing cracks down on financial risks.

  • SINGAPORE, May 31- Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production which is undermining OPEC- led production cuts aimed at tightening the market. Libya's rising production adds to a rise in U.S. output, which largely thanks to shale oil drilling has jumped by more than 10 percent since the middle of last...

  • MANILA, May 31- Activity in China's steel industry expanded at the fastest pace in a year in May, supported by an increase in new orders, industry data showed on Wednesday.

  • SANTIAGO, May 30- Chilean mining company Antofagasta Minerals has sold its minority stake in a solar park in northern Chile, and will launch a power auction for one of its copper mines, the company said on Tuesday. The firm said in a statement it had agreed to sell its 40 percent stake in the 69.5- megawatt Javiera solar park in north-central Chile to Atlas Renewable...

  • SANTIAGO, May 30- Chilean mining company Antofagasta Minerals has sold its minority stake in a solar park in northern Chile, and will launch a power auction for one of its copper mines, the company said on Tuesday. The firm said in a statement it had agreed to sell its 40 percent stake in the 69.5- megawatt Javiera solar park in north-central Chile to Atlas Renewable...

  • LONDON, May 30- The price of copper fell on Tuesday in quiet trade as the market waited for top metals consumer China to return from a public holiday and data on Wednesday that is expected to show a slowdown in Chinese industrial growth. LME COPPER: Copper on the London Metal Exchange was down 0.4 percent at $5,633 a tonne at 1031 GMT, as trade resumed following public...

  • MELBOURNE, May 30- London copper prices drifted on Tuesday as the dollar climbed, with markets waiting for trading to resume in top metals consumer China after a public holiday. *CHINA: Factory activity in China is expected to have grown at its slowest pace in eight months, a Reuters poll showed, as previous stimulus fades and policymakers focus on tackling rising...

  • MELBOURNE, May 30- London copper drifted on Tuesday after a long weekend, as markets awaited top consumer China to resume trading later this week when its factory data is also due for the next directional cues. *Euro zone growth may be improving but inflation remains subdued and still requires substantial stimulus, European Central Bank President Mario Draghi...

  • WINNIPEG/ MONTREAL, May 29- Canadian rail shippers are urging Ottawa to intervene in a looming strike at Canadian National Railway Co, the country's largest railroad, fearing that a shut-down would immediately damage their businesses. Freight Management Association of Canada, which represents agriculture, mining, forest products and other sectors, wrote to...