Materials and Metals


  • *New Japanese processing plants coming up in China, Indonesia. Executives at steelmakers such as Nippon Steel& Sumitomo Metal Corp and JFE Holdings are faced with little choice but to accelerate their push abroad as the effects of the stimulus led by Prime Minister Shinzo Abe wane and spending on autos falls after a sales tax hike from April.

  • *Vale says suspends nickel operations in New Caledonia. *China domestic copper market remains tight.

  • SYDNEY, May 9- New Caledonia's southern provincial government said on Friday it was starting legal proceedings against Vale over environmental damaged caused by an effluent spill at the miner's nickel operations.

  • *Likely gainers: Kalyani Steels and JSW Steel. *Likely losers: Sesa Sterlite and Essel Mining. NEW DELHI, May 9- When Indian prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer.

  • SYDNEY, May 9- Mining giant Vale said it has suspended 80 percent of its nickel production in New Caledonia due to an effluent spill, and plans to have a full shutdown later on Friday, sending nickel prices up nearly 6 percent. New Caledonia is on a public holiday on Friday.

  • BRUSSELS, May 9- ArcelorMittal, the world's largest steelmaker, trimmed its forecast for global steel use on Friday due to a more pronounced slowdown in China and a decline in Russia, though it retained optimism about its core European and U.S. markets.

  • SYDNEY, May 9- London nickel prices surged beyond $20,000 per tonne for the first time in more than two years on Friday, climbing 4 percent as a flurry of supply concerns fuelled heavy buying of the stainless steel material. "NPI producers in China are facing a real problem in access to feed stock.

  • May 8- Mining financier Silver Wheaton Corp reported a 40 percent smaller profit in the first quarter, hurt by fall in metal prices. Vancouver- based Silver Wheaton helps finance mining projects in exchange for the right to buy future silver production at a set price.

  • *Japan to shut three naphtha crackers from 2014 to 2016. SINGAPORE/ TOKYO, May 9- A series of Japanese petrochemical plant closures starting this month will crimp demand for naphtha in the world's No.3 economy, dragging on regional markets for the plastic-making ingredient just as supplies are increasing.

  • May 8- Auto parts maker Visteon Corp reported a 7 percent rise in quarterly revenue as higher vehicle production boosted sales of its climate control products. Visteon did not give its own estimate on Thursday, but said higher production, particularly in Asia Pacific and Europe, boosted sales of its climate control products in the first quarter ended March 31.

  • China, Japan scramble for nickel after Indonesian ban Thursday, 8 May 2014 | 3:59 AM ET

    *Seasonal demand, state buying to support China imports. HONG KONG/ TOKYO, May 8- Nickel buyers in China and Japan are scrambling to secure supplies as soaring prices and a fear of shortages boosts demand for both refined metal and long-term ore contracts.

  • BEIJING, May 8- China has raised its target to close outdated steel smelting capacity to 28.7 million tonnes in 2014, the industry ministry said on Thursday, as it tries to rein in inefficient and polluting industries.

  • SYDNEY, May 8- London nickel pushed to hits highest in 19 months on Thursday amid heightened supply concerns as Vale halted processing at its Goro nickel plant in New Caledonia, adding to concerns over Indonesian and Russian supply.

  • May 7- When the steel industry goes to Washington, it usually talks about trade, tariffs and taxes. "One of the biggest obstacles has been the belief that canned food is not nutritious," said Rich Tavoletti, executive director of the Canned Food Alliance. "

  • LONDON, May 7- Nickel prices climbed towards 15- month highs on Wednesday on worries about tightening supplies from Indonesia following an export ban on unprocessed ores and on concerns that political tension could restrict supply from Russia.

  • SAN FRANCISCO, May 7- Stanford University said on Tuesday it will no longer use any of its $18.7 billion endowment to invest in coal mining companies, a move aimed at combating climate change that could influence college administrations elsewhere.

  • *CEO says eyes acquisition opportunities from Lafarge/ Holcim merger. HEIDELBERG, Germany, May 7- HeidelbergCement could seize opportunities to snap up assets from rivals Lafarge and Holcim which may be forced into disposals to get the go-ahead from regulators for their planned merger.

  • LONDON, May 7- Markets are fickle things. Now, however, metal bulls are shunning the zinc market, turning their attentions to nickel with its equally compelling story-line of mine shortfall after the January imposition of a ban on nickel ore exports by Indonesia.

  • FRANKFURT, May 7- German cement maker HeidelbergCement posted a more than five-fold increase in quarterly operating income that beat consensus thanks to mild winter weather in Europe and price increases in key markets.

  • *China nickel pig iron producers have run down their ore stocks. SYDNEY, May 7- London nickel hovered close to 15- month highs on Wednesday, supported by rising prices for nickel ore as Chinese nickel pig iron producers run down their stockpiles after Indonesia banned exports in January.

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