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Materials and Metals

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  • EGYPT PLANS TO INVEST $14.5 BLN IN OIL REFINERY, PETROCHEMICALS OVER FIVE YEARS- OIL MINISTER.

  • Specialty chemicals maker PQ Holdings withdraws IPO Friday, 26 Sep 2014 | 6:02 PM ET

    Sept 26- Specialty chemicals maker PQ Holdings Inc, backed by Carlyle Group LP, said on Friday it has withdrawn its initial public offering of up to $450 million. Malvern, Pennsylvania- based PQ Holdings produces inorganic specialty chemicals used in industrial and consumer markets.

  • UPDATE 1-Steelmaker Evraz's U.S. unit files for IPO Friday, 26 Sep 2014 | 1:05 PM ET

    Sept 26- Evraz North America Ltd, the U.S. unit of Russia's largest steelmaker Evraz Plc, filed with U.S. regulators in an initial public offering of ordinary shares.

  • RIO DE JANEIRO, Sept 26- Brazilian steelmaker Usiminas said on Friday its board had dismissed Chief Executive Julian Eguren in a divided vote, as two controlling stakeholders clashed over the appointment of senior managers in the firm.

  • METALS-Copper eyes weekly loss on China demand concerns Thursday, 25 Sep 2014 | 11:01 PM ET

    MELBOURNE, Sept 26- London copper steadied near three-month lows on Friday but was set to chalk up a weekly loss as worries over demand growth in top consumer China weighed on prices.

  • MELBOURNE, Sept 26- London copper steadied near three-month lows on Friday but was set to chalk up a third weekly loss as worries over demand growth in top consumer China and an impending wave of supply weighed on prices.

  • NEW YORK, Sept 25- Dow Chemical Co has kicked off a process to sell its epoxy and chlorine businesses, hoping to find a single buyer for them in what is set to be a multibillion-dollar deal, according to people familiar with the matter.

  • LONDON, Sept 25- European shares slipped to a one-month low in late trading on Thursday, tracking a sell-off in U.S. stocks, as a stronger dollar undercut prices for industrial metals, causing mining shares to drop.

  • France moves to introduce plain packaging for cigarettes Thursday, 25 Sep 2014 | 11:29 AM ET

    PARIS, Sept 25- France's health ministry on Thursday unveiled tough measures geared at stamping out smoking among young people, with a planned rollout of brandless cigarette packets and curbs on advertising for electronic cigarettes.

  • European shares fall in late sell-off, miners slip Thursday, 25 Sep 2014 | 11:23 AM ET

    *FTSE 100 underperforms on concerns of rate hike. The STOXX Europe 600 Basic Resources index fell 2.1 percent to feature as the biggest sectoral decliner in Europe after prices of key base metals fell following a rise in the dollar index, which measures the greenback against a basket of major currencies, to a four-year high.

  • *Gold earlier hit lowest since Jan. 2 at $1,206.85/ oz. LONDON, Sept 25- Gold steadied off nine-month lows on Thursday while platinum edged up from its weakest since June last year, after softer than expected U.S. data pulled the dollar from an earlier four-year high against a currency basket.

  • *Break below $1,200/ oz still likely- HSBC. LONDON, Sept 25- Gold prices fell to a nine-month low on Thursday and other precious metals slid as the dollar rose to four-year highs against a basket of currencies and stock markets strengthened. Spot gold hit a low of $1,206.85 an ounce, its weakest since Jan. 2, and was down 0.5 percent at $1,210.30 an ounce at 1001 GMT.

  • DALIAN, China Sept 25- China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

  • SYDNEY, Sept 25- Adani Mining on Thursday took a step closer to the development of a A $2.2 billion coal mining project in Australia after the federal government approved construction of a rail haulage line.

  • BHP plays down chance of recovery in iron ore prices Thursday, 25 Sep 2014 | 2:30 AM ET

    SYDNEY, Sept 25- Global miner BHP Billiton on Thursday played down the chance of a recovery in iron ore prices, saying that recent declines reflected the reality of demand and supply in the market for the steel-making ingredient.

  • VANCOUVER, Sept 25- The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations. The industry has geared itself around $1,200, "said Joseph Foster, portfolio manager at institutional investor Van Eck Global.

  • *Norilsk in talks to buy palladium from Russia's cenbank. NEW YORK/ LONDON, Sept 24- Gold fell on Wednesday as the dollar climbed to levels not seen in four years and global shares rebounded, while investors remained cautious ahead of U.S. economic data due later in the week.

  • DICKINSON, N.D., Sept 24- Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, U.S. Energy Information Administration chief Adam Sieminski said in an interview on Wednesday.

  • METALS-Nickel gains as buyers come back after slide Wednesday, 24 Sep 2014 | 12:40 PM ET

    LONDON, Sept 24- Nickel rose on Wednesday as investors saw a recent slide in prices as a buying opportunity ahead of expected shortages, while copper recovered after hitting a fresh three-month low as uncertainly about global growth weighed on markets.

  • Three month nickel on the London Metal Exchange was up 0.6 percent at $17,225 a tonne by 1051 GMT, after touching $16,483 on Tuesday, the lowest in over five months. Investors piled into the market earlier in the year, sending prices to a peak of $21,625 in May, the highest in over two years, after top exporter Indonesia imposed a ban on shipments of unprocessed ore.

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