Edition:
United Kingdom

Zandi Shabalala

METALS-Base metals tread water on mixed China data

14 Nov 2018

* China retail sales growth slows, industrial output rises * Nickel touches fresh 11-month low * GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Updates with closing prices, Lead and zinc balance) By Zandi Shabalala LONDON, Nov 14 Base metals held steady on Wednesday as weak retail sales data from top consumer China took the shine off upbeat industrial output and investment figures in the country. Benchmark copper on the London Metal Exchange (LME) ended 0.3 percent higher at $6,090 a tonne. The metal used in power and construction was marginally lower in early trade. "It has a bit to do with the negative reaction to retail sales in China and that stock markets there had been down and also the ferrous metals complex was a bit weaker," an analyst said. Retail sales in China in October grew at their slowest pace since May, pointing to a consumption slowdown, even as a pick-up in industrial output and investment suggested support measures may be starting to take hold. Meanwhile, a decline in oil prices late on Tuesday hit metals and other assets such as equities which are seen as risky, Commerzbank analyst Daniel Briesemann said. ENERGY: Oil prices clawed back some losses on Wednesday after tanking around 7 percent in the previous session as investors were scared off by surging supply and the spectre of faltering demand. U.S.-CHINA TRADE: U.S. President Donald Trump's top economic adviser said "it's pretty clear now" that Trump would meet with Chinese President Xi Jinping at the G20 summit later this month a day after China's top trade negotiator Liu He said he could visit Washington to prepare for the talks. CHINESE INVESTMENT: Chinese copper smelters are looking to make more investments in mines, pushing to shore up supply of concentrate at a time when competition for the raw material is heating up, industry executives said. CHINA ALUMINIUM: China's primary aluminium output fell for a third straight month in October, as low aluminium prices prompted smelters to cut production even before government-mandated winter restrictions kick in. LME aluminium ended up 0.4 percent to $1,943 per tonne, after touching a 15-month low on Tuesday. CHINA STEEL: Steel output in China, the world's top producer, hit record levels in October, rising for a third straight month as mills rushed to boost output ahead of winter production cuts. LEAD AND ZINC: The global lead market's deficit ballooned to 21,400 tonnes in September while zinc narrowed its deficit to 54,700 tonnes. SPREAD: The premium for cash zinc over the three-month contract was at $56.50 a tonne, close to a one-year high of $66.50 touched on Monday as concerns lingered over tight supplies on the LME. PRICES: Zinc inched 0.5 percent higher at $2,502 per tonne, lead edged up 0.1 percent to $1,953, tin added 0.2 percent to $19,305 while nickel touched a fresh 11-month low, finished 0.3 percent lower at $11,315. (Additional reporting by Mai Nguyen Editing by Alexandra Hudson and Edmund Blair)

Randgold ready to mediate in Acacia's Tanzania row before Barrick tie-up

06 Nov 2018

LONDON Randgold Resources said on Tuesday it would mediate in a tax dispute between Tanzania and Acacia Mining , a firm in which Randgold investors will have a stake if its planned merger with Barrick Gold is approved by shareholders.

METALS-Copper slips on profit-taking

05 Nov 2018

* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Adds closing prices)

Barrick in talks with Newmont to combine Nevada gold operations: sources

05 Nov 2018

LONDON Barrick Gold Corp, which is being formed by Barrick's $6.1 billion takeover of Randgold Resources , is in talks with Newmont Mining to combine their Nevada gold mining operations, sources told Reuters.

Barrick in talks with Newmont to combine Nevada gold operations -sources

05 Nov 2018

LONDON, Nov 5 Barrick Gold Corp, which is being formed by Barrick's $6.1 billion takeover of Randgold Resources, is in talks with Newmont Mining to combine their Nevada gold mining operations, sources told Reuters.

METALS-Metals rise on wider market rebound, dollar fall

01 Nov 2018

* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Adds closing prices)

LME to test electronic close on other metals if nickel trial succeeds

01 Nov 2018

LONDON The London Metal Exchange (LME) plans to extend a trial of using electronic closing prices rather than open outcry for nickel to other metals, its chief executive told the Reuters Global Commodities Summit in London.

Barrick, Randgold sweeten dividend ahead of takeover deal vote

31 Oct 2018

LONDON/TORONTO Canada's Barrick Gold and takeover target Randgold Resources are boosting their dividend payouts ahead of shareholder votes next week on their $6.1 billion deal, the miners said Wednesday.

Barrick Gold woos Randgold shareholders with higher dividend

31 Oct 2018

LONDON, Oct 31 Canada's Barrick Gold has sought to woo Randgold Resources shareholders with sweetened dividend terms to mollify investors unhappy with its nil-premium takeover offer for the Africa-focused mining company.

Anglo Pacific aims to expand using $100 million warchest

30 Oct 2018

LONDON Anglo Pacific has a warchest of $100 million to spend on two new revenue streams over the coming months, preferably in the Americas, its chief executive said at the Reuters Global Commodities Summit. 

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