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Materials and Metals

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  • Jan 26- Iron ore and coal miner Cliffs Natural Resources Inc said it reduced net debt by $400 million and scrapped its quarterly dividend to cut more debt. Cliffs wrote down the value of its coal and iron ore assets by about $6 billion in October due to weak prices, and warned a month later that it might have to close its Bloom Lake iron ore mine in Quebec.

  • SHANGHAI, Jan 26- Iron ore prices hit their lowest in 5-1/ 2 years on Monday despite some loss-making Chinese steel mills curbing output, as ore supplies remained abundant and as concerns persisted about the outlook for economic growth in China this year. The benchmark 62 percent grade iron ore for immediate delivery to China fell 3.9 percent to $63.30 a tonne to...

  • Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake. In the new company, which will be named after the deal closes, MeadWestvaco shareholders will have a 50.1 percent stake, while Rock-Tenn shareholders will hold the rest.

  • Packaging companies Rock-Tenn, MeadWestvaco to merge Monday, 26 Jan 2015 | 6:26 AM ET

    Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake.

  • *Shanghai copper hits downside limit, at lowest since July 2009. SINGAPORE, Jan 26- London copper tumbled as much as 3 percent on Monday to its lowest level since 2009 as a stronger dollar fueled an aggressive sell-off that dragged down prices in Shanghai by 5 percent. A slide in the euro to 11- year lows against the dollar after Greece's Syriza party promised to roll...

  • Shanghai copper falls 4 pct to lowest since July 2009. SINGAPORE, Jan 26- London copper fell almost 2 percent to its weakest level in nearly two weeks on Monday, pressured by a stronger dollar as the euro stumbled after Greece's Syriza party, set to win a snap election, promised to roll back austerity measures. It touched a session low of $5,415, its weakest since Jan. 14...

  • SINGAPORE, Jan 26- London copper futures fell for a third session running on Monday as the dollar gained against the euro after Greece's Syriza party promised to roll back austerity measures as it is set to win a snap election. *Syriza's Alexis Tsipras is on course to become prime minister of the first euro zone government openly opposed to austerity policies...

  • *Copper on track for 2 percent fall this week. *Premiums for bonded nickel in China surge. LONDON, Jan 23- Copper fell on Friday, and was on track for its sixth week of falls after failing to post a convincing rebound from last week's 5-1/ 2 year low, weighed by concerns about the outlook for demand from top consumer China.

  • NORILSK, Russia, Jan 23- Falling metal prices are being more than offset by the rouble slide, allowing Russia's Norilsk Nickel to maintain margins despite lower foreign currency earnings, its chief executive said. CEO and co-owner Vladimir Potanin, Russia's eighth richest man with a $12.6 billion fortune from the world's largest nickel and palladium miner,...

  • Chinese steel producers, including the biggest private mill Jiangsu Shagang Group, state-owned Wuhan Iron& Steel Group and Hebei province-based Tangshan Iron& Steel, are scheduling maintenance on some facilities, according to industry consultancy Custeel. "The difference this year is that in order to trim production, many mills in northern China have...

  • MELBOURNE, Jan 23- London copper edged up on Friday, but was set to close the week flat, having failed to post a convincing rebound from last weeks' 5-1/ 2 year lows ahead of China factory data due shortly. *The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.3 percent to 41,470 yuan a tonne. *Freeport-McMoRan Inc said on Thursday it had...

  • UPDATE 1-Agrium shares rise on dividend, buy-back news Thursday, 22 Jan 2015 | 12:59 PM ET

    Jan 22- Canadian fertilizer and farm retail dealer Agrium Inc said it would pay out a larger percentage of its free cash flow as dividends and buy back up to 5 percent of its shares, driving its stock up as much as 5.6 percent. Agrium said it would pay out 40-50 percent of its free cash flow as dividends, up from its earlier target of 25-35 percent. Agrium, which mines...

  • LONDON, Jan 22- Global crude steel production rose 1.2 percent to 1.662 billion tonnes in 2014, compared with the previous year, figures from the World Steel Association showed on Thursday. Crude steel output in China, the world's top producer and consumer of the alloy, rose 0.9 percent to 822.7 million tonnes, the data showed. The European Union recorded an...

  • *Gold dips on profit taking. SINGAPORE, Jan 22- Gold held below a five-month high on Thursday, hurt by profit-taking ahead of the European Central Bank's decision on stimulus measures, and strength in Asian equities that dented the metal's safe-haven appeal. "Increased liquidity in the euro-region is set to boost the prices of gold, as the precious metal may enjoy...

  • VANCOUVER/ TORONTO, Jan 21- The New Year's rally in gold stocks offers a respite for the beaten-down sector, but it masks deep-seated problems of bloated debt, weak growth prospects and overvalued assets that will emerge when miners post year-end results in coming weeks. Even if bullion's recent rally persists- it is up 9 percent this year to $1,290 an ounce-...

  • Oil supply is the problem, not demand: Dow CEO Wednesday, 21 Jan 2015 | 10:51 AM ET
    Andrew Liveris, CEO of Dow Chemical at 2015 WEF in Davos, Switzerland.

    Stable, low oil prices are good because the drop in crude is supply-driven and will act as stimulus, Dow Chemical CEO Andrew Liveris tells CNBC.

  • FDA banned BPA from babies' bottles. LONDON, Jan 21- The chemical bisphenol A, used to stiffen some plastic food containers, poses no health risk to consumers of any age, including unborn children, at current levels of exposure, Europe's food safety watchdog said on Wednesday. Some studies have suggested possible links to everything from cancer to heart disease to...

  • LONDON, Jan 21- Gold climbed above $1,300 an ounce on Wednesday for the first time since August, on increased investor interest due to a softer dollar, worries about the global economy and prospects of stimulus measures from the European Central Bank. Spot gold hit its highest level since Aug. 18 at $1,303.20 an ounce in early trade and was up 0.6 percent at...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Jan 21- The latest production reports from mining giants BHP Billiton and Rio Tinto hammer home an uncomfortable truth: No matter how much output increases and costs are cut, falling commodity prices triumph. Rio Tinto, the world's second-largest iron ore producer after Brazil's Vale, said it expected...

  • SINGAPORE, Jan 21- Gold clung to sharp overnight gains on Wednesday, trading close to a five-month high as worries over the global economy and uncertainty over European Central Bank stimulus measures pushed investors towards the safe-haven metal. *Spot gold was down 0.2 percent at $1,291.30 an ounce by 0017 GMT, but held near a five-month high of $1,296.85...

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