Vedanta profit plummets 41% on soft metal prices

The oil-to-metals conglomerate decided in February to diversify into chip manufacturing.

The new company will continue to selling Rusal’s metal.

Separately, Vedanta Resources announced a tender offer to buy back as much as $500 million of its dollar notes due in July.

President Xi Jinping on Wednesday called for all-out efforts to spur infrastructure spending.

CME Group has made major strides in its competition with the larger London Metal Exchange in recent years.

Coal supplies are being diverted to priority electricity generation.

PT Adaro Energy, one of Indonesia’s biggest coal miners, is shifting to renewable energy after making a fortune from surging commodity prices.

Alcoa shares dropped the most in eight months after the aluminum producer said sales slumped.

Russia is a major producer of metals including aluminum, nickel, copper and steel.