Steel producers Thyssenkrupp and Tata Steel are to merge their European operations to create a joint venture with annual revenues of around €15bn.
Iron ore and steel prices have come off their recent peaks amid worries over slowing demand and rising supply. Data suggesting some slowdown in the Chinese economy has begun to depress sentiment.
Gold fell back early today as relative calm returned to the Korean peninsula over the weekend. In the absence of further missile tests, investors switched out of safe havens.
Gold prices surged to an 11-month high early today as investors sought safe havens following North Korea´s latest nuclear test.
Gasoline surged early today as storm damage continued to put refineries under pressure. In contrast, the storm-induced refinery shutdowns remained bearish for crude.
Aluminium rallied strongly in China as investors positioned themselves for state measures to curb supply.
Oil prices eased early on Wednesday as US inventory data and signs of recovering Libyan output fed bearish sentiment. Brent crude oil futures were down 0.2%, trading at around $51.7 a barrel
Oil prices could be set for another weak day of trading after higher US output figures appeared to outweigh positive sentiment related to falling US stockpiles.
Cereal prices have plunged over recent weeks as investors have pared expectations for disappointing harvests. Wheat futures have fallen to 433 cents per bushel from 560 cents at the beginning of July.