Materials and Metals


  • Oct 24- Dow Chemical Co said it now expects to raise between $3 billion and $4 billion from asset sales in the next 18 to 24 months, at least double its earlier target, as it looks to shed businesses exposed to commodity price swings.

  • *China cbank declines cash injection for third day. LONDON, Oct 24- Copper dipped to its lowest level in nearly two weeks on Thursday as persistent concerns about credit tightening in top metals consumer China offset upbeat manufacturing growth there.

  • Oct 24- International Paper Co reported better-than-expected quarterly profit on Thursday, helped by strong sales of corrugated packaging for shipping boxes. John Faraci, the chief executive, said in an interview the global economy continued to improve, but at a pace below its potential.

  • Oct 24- Dow Chemical Co reported lower-than-expected quarterly results due to weak earnings at its performance materials unit and said it expects to raise $3 billion to $4 billion from asset sales. Dow Chemical shares fell nearly 4 percent in premarket.

  • Oct 24- International Paper Co said on Thursday its quarterly profit rose 61 percent, helped by strong sales of corrugated packaging for shipping boxes. For the third quarter, the company posted net income of $382 million, or 85 cents per share, compared with $237 million, or 54 cents per share, in the year-ago period. Revenue rose 5 percent to $7.41 billion.

  • Excess capacity in the refining industry, especially in Europe, and the shale revolution in North America will continue to pressurise Grangemouth and Britain's other oil refineries. Like their counterparts in continental Europe and the East Coast of the United States, Britain's refineries are old, small and relatively unsophisticated.

  • POLL-Growing supply bears down on 2014 copper prices Thursday, 24 Oct 2013 | 8:00 AM ET

    *2013 cash copper seen at $7,334.90/ T in 2013; $7,050 in 2014. *Copper surplus seen at 182,000 T in 2013; 328,000 T in 2014. LONDON, Oct 24- Copper is expected to end the year 8 percent lower, and tumble further in 2014 as demand struggles against strong supply growth from new and existing mines, a Reuters poll showed.

  • Oct 24- Dow Chemical Co, which is looking to exit businesses that are exposed to commodity price swings, said it planned to raise at least $3 billion to $4 billion from asset sales.

  • Mining stocks and oil gained on the data though shares in China ended lower as domestic investors worried that a spike in short-term money rates engineered by the central bank could hurt growth going forward. "What we're seeing is not much more than a stabilisation of growth expectations in China.

  • *POSCO shares end up 0.5 pct prior to earnings announcement. SEOUL, Oct 24- South Korea's POSCO cut its 2013 sales target by 3 percent on Thursday as the world's fifth largest steelmaker struggles to win orders away from Asian rivals also scrambling in an oversupplied market.

  • *China manufacturing picked up in Oct. *China bonded stock premiums up $2.50 to $180 -205- Shmet. SINGAPORE, Oct 24- London copper climbed on Thursday from near one-week lows touched the session before, boosted by improving manufacturing growth in the world's No.1 metals consumer China.

  • Options Action: Hazardous materials?     Wednesday, 23 Oct 2013 | 5:44 PM ET

    Breaking down the bearish bets in material stocks, with Brian Stutland of Stutland Volatility. WeyerhaeuSer is reporting earnings on Friday.

  • *Bankruptcy exit likely in Jan-CEO. Oct 23- Chemical maker W.R. Grace& Co said it does not expect to emerge from its 12- year bankruptcy before the end of January as it deals with court appeals against its restructuring plan. Grace shares were up 3 percent at $93.19 in afternoon trading on the New York Stock Exchange.

  • BOGOTA, Oct 23- A stretch of the railway belonging to Colombia's biggest coal producer, Cerrejon, was bombed late on Tuesday, the second such attack in 10 days but one that would not have any immediate impact on exports, the company said in a statement.

  • CHICAGO, Oct 23- Caterpillar Inc posted a lower-than-expected quarterly profit on Wednesday and cut its full-year forecast yet again as weak demand from mining customers continued to bedevil the heavy equipment maker.

  • *Platinum belt wage talks tough. JOHANNESBURG, Oct 23- South Africa's Association of Mineworkers and Construction Union intends to declare a dispute over stalled wage talks with Anglo American Platinum, which would open the way for legal strike action, its president said on Wednesday.

  • Oct 23- Strong demand for W.R. Grace& Co's construction, packaging and coatings materials helped quarterly profit scrape past analysts' estimates, even as prices of chemical catalysts, its main business, remained low.

  • Oct 23- U.S. chemical maker W.R. Grace& Co reported an 8 percent decline in quarterly profit due to lower prices of its catalysts used by refiners to process crude oil. The company's net income fell to $69.4 million, or 89 cents per share in the third quarter, from $75.5 million, or 99 cents per share, a year earlier. Revenue fell less than 1 percent $771.3 million.

  • JOHANNESBURG, Oct 23- South Africa's Sibanye Gold, spun off earlier this year by Gold Fields, expects earnings to be similar in the second half of the year to the first, assuming its forecast holds for the bullion price to stay around current levels.

  • *Samsung SDI shares drop 8 pct. Oct 23- Samsung Electronics Co Ltd moved to tighten its grip on vital electronics parts supplies as it looks to stay ahead of rival Apple Inc with new products in a fast changing technology industry.

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