Copper price regains ground, rally not over, Citi says

Former rival bidder Glencore will subscribe to $300 million worth of the rights offer.

The company will return a total of $3 billion to shareholders: $2 billion on the dividend side and $1 billion of share buybacks.

Environment and Natural Resources minister Roy Cimatu also said there was no rush to make decision on suspended, closed mines.

Ore with 62% content in Qingdao jumped 7.2% to $73.70 a tonne, according to the Metal Bulletin, the highest price since April 11 and the largest one-day percentage gain since December 1, 2016.

The Anglo–Swiss multinational announced that it signed agreements with Yancoal Australia regarding the acquisition of a 49 per cent interest in Rio Tinto’s former coal assets in Australia's Hunter Valley

Chinese data, tight supply light fire under copper price launching copper mining stocks higher – Freeport up 15%.

After strong start to 2017, US steel output growth for the first six months slows to just 1.3%.

As steel production reaches all-time high Chinese miners pump out most iron ore since 2015 while refined copper output jumps 12% to highest in 18 months.

The United States and China failed on Wednesday to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over President Donald Trump's economic and security relations with Beijing.