Materials and Metals


  • Alcoa warns Quebec against power rate hike Wednesday, 30 Oct 2013 | 11:48 AM ET

    Oct 30- U.S. aluminum producer Alcoa Inc warned on Wednesday that a planned electricity rate hike in Quebec would make its three smelters in the Canadian province uncompetitive.

  • UPDATE 1-Uranium miner Cameco profit jumps, shares climb Wednesday, 30 Oct 2013 | 9:43 AM ET

    Oct 30- Uranium miner Cameco Corp reported a sharp rise in quarterly profit on Wednesday due to higher uranium sales and prices, sending its shares up nearly 6 percent in early trading. Cameco, which has contracts with customers at prices above the spot market, sold 8.5 million pounds of uranium in the third quarter, up from 5.2 million a year earlier.

  • Uranium miner Cameco turns higher profit Wednesday, 30 Oct 2013 | 8:50 AM ET

    Oct 30- Cameco Corp, the world's third-biggest uranium producer, reported higher quarterly profit on Wednesday as its uranium sales and realized price rose. Net earnings for the third quarter jumped to C $211 million, or 53 Canadian cents per share, from C $79 million, or 20 Canadian cents per share, a year before.

  • Gorilla Glass maker Corning's revenue rises 10 pct Wednesday, 30 Oct 2013 | 7:24 AM ET

    Oct 30- Specialty glass maker Corning Inc posted a 10 percent rise in quarterly revenue, helped by an increase in sales of devices that use Gorilla Glass, its most profitable product. Gorilla Glass is used in Apple Inc's iPhones and iPads and Samsung Electronics Co Ltd's Galaxy devices.

  • *Gold edges up, still below 5- week high. LONDON, Oct 30- Gold edged higher on Wednesday as investors bet the U.S. "My feeling is that the overall tone will be somewhat dovish, it will acknowledge the uncertainty generated by the government shutdown and weak data and will emphasise a cautious response going forward," Mitsubishi analyst Jonathan Butler said.

  • The decision is a blow to Hamilton, long the center of Canada's steel industry, which has been hit hard by plant closures over the last decade. "It is disappointing, very disappointing for both our workers and the community in Hamilton that has a long history of making good steel," said United Steelworkers spokesman Tony DePaulo.

  • UPDATE 2-U.S. Steel to permanently shut Ontario mill Tuesday, 29 Oct 2013 | 5:10 PM ET

    TORONTO, Oct 29- United States Steel Corp said on Tuesday it will permanently shut down iron and steelmaking operations at its Hamilton, Ontario, mill at the end of this year. The company's mills in Hamilton and Nanticoke, Ontario, were the subject of a legal dispute between U.S.

  • *Albanese was CEO of Rio Tinto until January 2013. LONDON, Oct 29- Mining companies were too slow to respond to changing investor demands from mid-2011 as sentiment deteriorated, failing to spot the wave of change which eventually swept out a generation of executives, the former boss of miner Rio Tinto said on Tuesday.

  • *Says weakness in mining and India main culprits. The Columbus, Indiana- based company said sales of all its products had also contracted sharply in India in the most recent quarter as a result of declining business confidence and manufacturing activity there.

  • Oct 29- U.S. chemical maker Huntsman Corp said it expected prices of white paint pigment to come out of a two-year slump by the end of next year as raw material prices stabilize and industrial demand improves. Huntsman shares rose as much as 7 percent, touching their five-year high on the New York Stock Exchange.

  • CHICAGO, Oct 29- Cummins Inc, the U.S. maker of engines and other vehicle components, reported lower-than-expected quarterly profit on Tuesday and cut its full-year outlook, citing weak demand in most of its markets, including mining.

  • *Third-quarter EPS $0.26 vs $0.48 last year. Oct 29- U.S. chemical maker Huntsman Corp reported a 45 percent decline in quarterly profit due to lower selling prices and higher raw material costs. "Earnings within our pigments business have been improving throughout the year and we are encouraged by industry trends," Chief Executive Peter Huntsman said on Tuesday.

  • Oct 29- U.S. chemical maker Huntsman Corp reported a 45 percent decline in quarterly profit, partly due to higher raw material costs. Net income attributable to Huntsman fell to $64 million, or 26 cents per share, in the third quarter ended Sept. 30, from $116 million, or 48 cents per share, a year earlier. Revenue rose 4 percent to $2.84 billion.

  • KABUL, Oct 29- A consortium of Indian companies led by Steel Authority of India is seeking to renegotiate the terms of an iron ore deal in Afghanistan worth up to $10.8 billion, a senior official at the Ministry of Mines said on Tuesday. The Steel Authority of India and the two countries' mine ministries were not immediately available for comment.

  • Oct 28- United States Steel Corp swung to a third-quarter loss as the steel-maker took an after-tax goodwill impairment charge related to a writedown in the value of two of its North American units.

  • *Platinum up 1.5 pct on South African strike. NEW YORK/ LONDON, Oct 28- Gold reached fresh five-week highs on Monday on growing confidence the U.S. Spot gold was up $1.41, or 0.1 percent, at $1,353.69 an ounce by 1:18 p.m. EDT.

  • Oct 28- Mosaic Co said on Monday that it would buy the phosphate business of fellow U.S. fertilizer company CF Industries Holdings Inc for $1.2 billion in cash. Minnesota- based Mosaic will acquire the South Pasture phosphate mine and plant, a phosphate manufacturing plant and ammonia terminal and warehouse facilities, all in Florida.

  • Oct 28- U.S. fertilizer maker Mosaic Co said it would buy CF Industries Holdings Inc's phosphate mining and manufacturing business for $1.2 billion in cash.

  • Sinopec field could reignite China shale hopes Monday, 28 Oct 2013 | 6:37 AM ET

    *China has been struggling to unlock its massive shale gas reserves. BEIJING, Oct 28- Chinese oil giant Sinopec Corp is for the first time pumping shale gas from test wells in commercial quantities in what it hopes will be a breakthrough in the development of a badly needed new energy source.

  • SINGAPORE, Oct 28- London copper edged down on Monday, but was holding above a two-week low hit in the previous session, as hopes the U.S. Weak U.S. economic data and fears top consumer China may tighten credit have eroded the outlook for metals demand, with LME copper falling almost 1 percent last week.

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